Start a free 14-day trial to unlock access to Puck.

Hi, and welcome back to Line Sheet. To quote the great Kyle Chayka, “Parties are so important right now.” As is Chanel. (Getting reports of people buying shoes in “bulk” because they can’t choose one style. Keep sending me these incremental updates, please.)

In today’s issue, I’ve got news of changes at Versace, a note on the potential end of quarterly reporting requirements in the U.S. (I love quarterly reports), and the real reasons John Galliano is partnering with Zara, besides a desire to keep putting beautiful things into the world.

For the main event, Malique “Malique@puck.news” Morris takes a look at Lululemon founder Chip Wilson’s turn as an activist investor. I once almost did a consulting project with Chip, right around the time of Lululemon’s 2013 see-through-leggings scandal, when he said some bodies “just don’t actually work” in the stretchy pants. Turns out, I am not the consultant type, but, honestly, he was very nice.

Also mentioned in this issue: Lily Allen, Chip Wilson, Georgina Scholtens-Day, Simeon Siegel, Eric Hirshberg, Jonathan Cheung, Lorenzo Bertelli, Lynette Nylander, Laura Gentile, John F. Kennedy Jr., Meghan Frank, Stefano Cantino, Mel Ottenberg, Dario Vitale, Dries Van Noten, Calvin McDonald, Chantal Fernandez, Emmanuel Gintzburger, André Maestrini, Yohji Yamamoto, Jane Nielsen, Jacob Gallagher, Marc Maurer, and more…

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.

The industry’s go-to source for unflinching reporting on the trillion-dollar business of artificial intelligence - perhaps the single most important technology of our time. Ian Krietzberg, the powerhouse journalist behind The Deep View, delivers twice-weekly insights into the latest dealmaking and breakthroughs in A.I., and how the intersecting worlds of finance, entertainment, media, and politics are being transformed in its wake.