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Hi, and welcome back to Line Sheet. The news never stops in our world, and everyone is
currently speculating about who is taking the reins at now-Prada Group-owned Versace, and whether Donatella will be joining them in a design role. More on that in the coming days.
Today, Rachel Strugatz is here with a comeback story for the ages: After being canceled—and canned from Estée Lauder—in 2022,
popular beauty exec John Demsey has staged quite the return to the industry, consulting for everyone from Gap Inc. to L Catterton. (If you launched, or relaunched, a beauty brand over the past three years, chances are you hired Demsey for something.) I was very interested in the details that Rachel unearthed regarding Demsey’s relationship with his former employer.
Up top, some murmurs about the future of Glamour and Self, my take on the
Pre-Fall collections thus far, and a bit on Kylie Jenner and Timothée Chalamet’s crushing orange moment.
Programming note: Next week, Rachel will answer the best of your burning questions for a special beauty mailbag issue, so please, please, please send her your queries! Her email is Rachel@puck.news.
Mentioned in this issue:
John Demsey, Gap Inc., Mickey Drexler, Old Navy, Estée Lauder Companies, Richard Dickson, Kanye West, MAC Cosmetics, Rihanna, Lady Gaga, Condé Nast, Jonathan Anderson, Dior, Gucci, Demna, Khaite, Chrome Hearts, and many more…
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Three
Things You Should Know…
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- Is Condé finally getting real?: Despite all the One World Trade drama during the past few months—the union protests, the storming of Stan Duncan’s office because Roger Lynch wasn’t around, etcetera—Condé Nast’s end-of-year town hall meeting was relatively uneventful. On Tuesday morning, Lynch told his employees that the company is profitable this year (good for them!), but he also relayed a cryptic message about the future of the publisher’s
B-minus brands, including Glamour, Allure, and Self.
In his presentation to staff, Lynch showed a chart highlighting the “global brands”—Vogue, Vanity Fair, GQ, The New Yorker—noting that they make the most money and are the business priorities for the company. This executive telegraphing tactic sure got people in the building talking about whether Lynch is finally going to axe some of the ancient,
killed-by-the-internet brands. Many people (including myself) have been saying for years that he should sell or shutter those businesses: Their value decreased as social media replaced magazine journalism, and as beauty and C.P.G. brands turned to Google and then Instagram for their marketing needs.
Speculation that these three women’s lifestyle titles might be rolled up into a single brand began around the time that Teen Vogue was folded into Vogue. There are
people in the building who believe it was supposed to happen, but Lynch hit pause after the incident outside Stan’s office. Anyway, pretty much everyone who works at these brands remains in the dark, although many believe something could even happen before the end of the year. (A Condé representative did not comment.)
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A MESSAGE FROM OUR PARTNER
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- Pre-Fall so far: In another life, I used to write 200-to-500-word “reviews” of Pre-Fall and Resort collections. That ended a long time ago for me (but not for everyone, I’m sorry), and yet I feel compelled to offer a quick hit of analysis on this year’s Pre-Fall offering—if only because it’s the second showing for designers who debuted last season. Remember, Pre-Fall is more commercial, less conceptual, and can’t be taken super seriously as an idea.
However, these collections can reveal a lot about a brand’s priorities and how they’re using a designer’s overall vision to drive commerce.
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Photos: Courtesy of Dior, Chanel, Gucci, Khaite
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- Of those that have trickled in—most notably Dior menswear, Chanel, and Gucci—the word of the day is progression. We’ve talked enough about Chanel here (Matthieu Blazy’s Métiers d’art collection offered so much to love for clients and newbies alike), but there’s also something notable going on at Dior. Jonathan
Anderson is really taking the concept of “One Dior” to heart—he’s selling menswear and womenswear in the same way. I (once again) loved the jewelry and accessories, and the Bar jackets. Meanwhile, clients and industry insiders questioned whether men need to buy chinos and other J.Crew-style basics from Dior when there are so many other options. Of course, that will depend on the ultimate allure of Anderson’s half-zip.
At Gucci, arguably the season’s most exciting entry, everyone
was talking about the Tom Ford of it all. It’s true that Demna has become enthralled with Ford’s reign at the house, but just as Demna could take inspiration from Martin Margiela and make that brand his own, this lineup of slick suiting and thigh-high skirt slits didn’t look dated or like a pure copy. Instead, it was simply sexy and fun. I felt the urge to preorder something from Gucci (the shiny pencil skirt from Look 7) for
the first time in history. It’s also worth noting that they all showed jeans, which seem to be the new margin driver for these upscale brands.
Finally, a quick word on Khaite’s latest collection, which offers a clear illustration of how American women who buy clothing at full price want to shop. (The organza tops, leather jeans, and ruched pink satin pieces will all sell out.) I met with a bunch of institutional investors when I was in New York last week, and they all wanted to
talk about Khaite in addition to the big groups. (You can read more about the health of that business here and here.) So what do I think? It sells really well because Catherine
Holstein lets her product-design sense win out over her ego.
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- Orange crush: I thought it wise not to comment immediately on Kylie Jenner and Timothée’s matching Chrome Hearts outfits, worn to the Los Angeles premiere of Marty Supreme. At this point, it’s fair to say that this isn’t merely a “strategic” relationship, and they are actually into each other. However, there’s no denying their togetherness also contributes to their personal brand narrative, real or not real, which is why it’s okay for me to comment on their status in
the first place.
As for the Britney-and-Justin-style matching: Chrome Hearts is the right brand to link Calabasas and LaGuardia High School. Will we look back and think, yuck? Of course. Is this relationship adding to Chalamet’s allure? Are these clothes? Yes and yes. Mostly because it’s obvious he’s wearing what he likes and doing what he likes. It may not be our taste… but it’s his. That’s the only way to act if you “want to be one of
the greats,” as he has proclaimed. And it’s keeping her relevant.
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Now on to the main event…
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In 2022, the legendary Estée Lauder Companies executive got himself canceled—and
temporarily exiled from the industry’s polite society. With a new appointment at Gap Inc. and multiple consulting gigs, he’s back on the scene.
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One of the year’s most interesting beauty appointments was announced in
September, when Gap Inc. brought on John Demsey, the controversial veteran executive, to help oversee the group’s ambitious plans. The company has spent the better part of the last two decades trying to recapture the magic of the Mickey Drexler era—and, from a purely talent perspective, Demsey might have seemed like the ideal candidate. The gig was also basically a formality: After all, Demsey has been working behind the scenes on Gap and Old Navy’s respective
beauty businesses for the last year and a half.
And yet it was also a somewhat extraordinary culmination of a professional rehabilitation arc. Over three-plus decades, Demsey had risen to prominence at The Estée Lauder Companies by overseeing most of its top brands and transforming MAC Cosmetics—which, for a time, was the top prestige makeup brand in the U.S.—into a multibillion-dollar business. The company became a cultural lodestar; championed HIV and AIDS awareness and prevention (the
MAC Viva Glam Fund has raised $540 million since 1994); and was the first scaled beauty brand to collaborate with stars like Rihanna, Lady Gaga, Lil’ Kim, Mary J. Blige, and Missy Elliott. Along the way, Demsey even became somewhat of an industry celeb himself, with a four-figure photo count on BFA.
However, these accomplishments were largely overshadowed by an
embarrassing and highly public scandal. In early 2022, Demsey was very publicly dismissed from The Estée Lauder Companies after posting a racially offensive and remarkably tone-deaf meme on Instagram. The incident arrived at the height of cancel culture, and some wondered whether his internal E.L.C. rivals had finally found an excuse to get rid of
an executive who potentially undermined them.
Despite his cancellation, Demsey never entirely disappeared, perhaps because large swaths of the industry seemed to excuse his transgression as the work of a Boomer with underdeveloped social media skills. And maybe because, as someone recently pointed out, it would be a stretch to compare Demsey’s cancellation to the high-profile industry scandals that befell, say, Kanye West or
Alexander Wang. “He treated Instagram like a private group chat where he would send memes to his friends,” said one former Lauder executive. “Except hundreds of thousands of people were watching.” (There are, of course, plenty of people in the business who would put a finer point on this incident. Demsey declined to comment for this story. E.L.C. did not immediately respond to a request for comment.)
Gap Inc. C.E.O. Richard Dickson is
betting on Demsey’s comprehension of the zeitgeist to produce viable commercial ideas. Next year, Demsey’s version of Gap beauty will start to hit shelves—I’m hearing the focus will be on fragrance—although it’s possible that there’s an even greater opportunity to develop the nascent beauty division at Old Navy, which has a far larger business than Gap.
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Naturally, Demsey laid low for some time, riding out a noncompete that expired in early 2024. His
professional rehabilitation began nearly two years ago at L Catterton, where he serves as a senior advisor on all things beauty. He was instrumental in their decision to take a majority stake in Kiko Milano, a billion-euro business with little presence outside of Europe, and which is often described as the “Italian MAC.” (MAC’s former global creative director, Drew Elliott, is now Kiko’s chief brand officer.) Since then, his comeback has included the release of
a coffee table book—leopard print cover and all—detailing the decor of his maximalist, six-story Upper East Side townhouse, and a series of high-profile consulting gigs.
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A MESSAGE FROM OUR PARTNER
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Demsey has also consulted for Puig, where his focus, according to a person close to the
business, has been twofold: advising recent additions to the portfolio, like Charlotte Tilbury, Byredo, and even Dr. Barbara Sturm, while also trying to expand Carolina Herrera’s makeup business. He’s also worked with Manzanita Capital, the boutique fund that almost exclusively plays in fragrance; Elm Biosciences, the skincare line created by Martha Stewart and Dr. Dhaval Bhanusali; Kenvue, Johnson & Johnson’s
spinoff beauty and personal care division; and Shinsegae International, a division of South Korean retail conglomerate Shinsegae Group.
In other words, Demsey is back on the scene, and I’ve spoken with numerous fashion insiders—including current and former Lauder executives and employees—to gauge their impressions. No one said they believe he’s overtly racist, although some pointed out that his decision to post the meme was indicative of… something. I’ve also heard that certain
members of the Lauder family tried to lure Demsey back to the GM Building earlier this year, and an extremely reliable source close to Lauder told me that the company “recognized their mistake and sought John out to see if he’d be helpful” in an advisory capacity.
With the Gap appointment underway, Demsey now seems to be fully out of the professional wilderness at this point—although he’s maintaining a much lower social profile than he once did. His Instagram
these days is populated largely with pictures of his dogs.
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Congrats to Veronika Ullmer, who left the top communications post at Glossier for
London-based agency CGC, which has quietly racked up some of the best beauty clients in the industry, including Line Sheet favorites Westman Atelier, Summer Fridays, Victoria Beckham Beauty, and soon, Glossier (plus a few more that aren’t yet public). Ullmer, in a new president and chief communications officer role, will help with the agency’s U.S. expansion. Additionally, British Vogue’s Jessica Diner is also joining CGC’s leadership team as chief global brand and
creative officer. [WWD]
The Vogue fashion news team’s year-end reader poll is so chunky and full of good stuff. Obviously Danielle Goldberg won stylist of the year, Matthieu won designer of the year, and Miu Miu tied with Phoebe Philo and The Row for most covetable brand. There’s
actually a lot of good data in here for industry executives. [Vogue]
I agree with Matt Schneier that Le Veau d’Or is the single best restaurant in New York. Sorry to everyone worried about reservations now. It probably will get harder for a bit. But it was already hard?
[NY Mag]
I looooove the new Chanel-HommeGirls mini magazine starring Gracie Abrams, wearing a load of Chanel jewelry and styled by Spencer Singer. Sponcon at its finest! [Instagram]
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Until tomorrow, Lauren
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Puck fashion correspondent Lauren Sherman and a rotating cast of industry insiders take you deep behind the scenes of
this multitrillion-dollar biz, from creative director switcheroos to M&A drama, D.T.C. downfalls, and magazine mishaps. Fashion People is an extension of Line Sheet, Lauren’s private email for Puck, where she tracks what’s happening beyond the press releases in fashion, beauty, and media. New episodes publish every Tuesday and Friday.
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The industry’s go-to source for unflinching reporting on the trillion-dollar business of artificial intelligence -
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