These are the stories making headlines in fashion on Tuesday.

Quince valued at more than $4.5 billion

Affordable luxury brand Quince is raising about $200 million in a new funding round that values the company at more than $4.5 billion. Iconiq, an investment firm that manages the fortunes of Silicon Valley billionaires, is leading the funding round. The new valuation will more than double the company’s previous value, which signals strong investor interest in the retailer. {Bloomberg/paywalled}

Selena Gomez talks Rare Beauty’s first fragrance

Rare Beauty is launching its first fragrance, Rare Eau de Parfum, on Aug. 7 at Sephora (with early app access on Aug. 6) for $75. In an interview with WWD, Selena Gomez shared that she’s been developing the scent for two years and that some of her “best memories” happened while she was creating the fragrance. Crafted by perfumer Jérôme Epinette, the fragrance features top notes of caramel, pistachio and pink pepper; a heart of vanilla, ginger and cocoa beans; and finishes with sandalwood, tonka beans and skin musks. {WWD/paywalled}

Gen Z is embracing Louboutin heels

In the 2000s and 2010s, Louboutins reigned supreme as the ultimate professional purchase in the media and fashion worlds until sneaker culture began replacing heels. Now, Gen Zers like Addison Rae and Zendaya have fully embraced the iconic red soles. The return of Louboutins could also be tied to the current mid-2010s trend cycle when the heels regularly filled Pinterest boards and Tumblr scrolls. {The New York Times/paywalled}

Saltair appoints new CEO and CMO

Body-care brand Saltair has named Rachel Shelowitz as its chief executive officer and Erin Sale as its chief marketing officer. The new leadership appointments signal Saltair’s ambition to scale thoughtfully while deepening its commitment to innovation, accessibility and self care. Shelowitz was most recently CEO of Lawless Beauty, while Sale most recently served as chief marketing officer at Murad Skincare. {WWD/paywalled}

Male models sue Wilhelmina

Wilhelmina models Alfredo Nemer and Malik Lindo-Ireland have filed separate lawsuits against the agency, claiming Wilhelmina induced them to sign a new three-year management agreement under false pretenses, including concealing the termination of their longtime agents, Matt Trust and Gene Kogan, according to their lawsuits. Lindo-Ireland’s lawsuit claimed “the only senior agent remaining in the division, Jessica Rosenberg, subsequently resigned, leaving Defendant’s men’s division largely in the hands of junior staff,” and further accuses the agency of “mishandling key opportunities.” {Page Six}

P&G names new CEO

Procter & Gamble announced that Shailesh Jejurikar will succeed Jon Moeller as P&G’s president and CEO, effective Jan. 1, 2026. Jejurikar currently serves as P&G’s chief operating officer. The Board has also nominated Jejurikar to stand for election as a director at the annual shareholder meeting in October 2025. On Jan. 1, 2026, Moeller will become P&G’s executive chairman. {P&G}

The Victoria’s Secret Fashion Show returns for 2025

On Tuesday, Victoria’s Secret announced that the Victoria’s Secret Fashion Show will return later this year. The official date and location has yet to be announced. The show made its comeback last year following a six-year hiatus. {Fashionista inbox}

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