These are the stories making headlines in fashion on Monday.

Kering sells beauty portfolio to L’Oréal

Kering will sell its beauty division to L’Oréal for €4 billion (approximately $4.6 billion), the companies announced on Sunday. Per the agreement, the beauty conglomerate will acquire Kering’s fragrance line Creed, and have a 50-year exclusive license for Kering’s fashion labels Bottega Veneta, Balenciaga and Gucci (once the latter’s current agreement with Coty expires). L’Oréal will pay Kering royalties from the use of its licensed brands. The transaction marks a long-term strategic alliance between the two French giants in the luxury and wellness sectors. “Joining forces with the global leader in beauty, we will accelerate the development of fragrance and cosmetics for our major Houses, allowing them to achieve scale in this category and unlock their immense long-term potential, as did Yves Saint Laurent Beauté under L’Oréal’s stewardship,” Kering CEO Luca de Meo said in a statement. {Kering}

Kim Jones named creative director of Areal

Areal, the sub-brand of Chinese label Bosideng, has tapped Kim Jones as its creative director. Jones will add innovative concepts to the luxury outwear designs, all whilst balancing domestic growth with international appeal. Formerly, the English designer was the artistic director of Dior Men and Fendi womenswear and couture. {Vogue Business/paywalled}

Saks Global Q2 revenue declines

Saks Global reported its Q2 sales hit $1.6 billion, a 13% drop from the same period last year. CEO Marc Metrick credited the revenue decline to the luxury retailer’s ongoing inventory struggles and rocky relationship with vendors. Earlier this year, vendors accused Saks Global of not paying invoices, in which the company promised to compensate sellers by August. However, some sellers complained they still haven’t been paid and are now withholding shipments from Neiman Marcus, Saks Fifth Avenue or both. As a result, shoppers are looking at other retailers to find what they need. Analysts have flagged that this downward trajectory will continue in 2026 if Saks doesn’t address the vendor problem. {Retail Dive}

AllSaints appoints new chief creative officer

AllSaints has appointed Aaron Esh as its new chief creative officer. The British designer will oversee the brand’s womenswear and menswear, plus steer the creative direction. Esh will also continue to run his eponymous label. {Business of Fashion/paywalled}

Revolve sponsors L.A. Lakers

On Friday, the Los Angeles Lakers announced a multi-year sponsorship with Revolve. This marks the fashion retailer’s first sponsorship with a NBA team. The deal will include engaging social media content, influencer collaborations, in-arena signage and co-branded social media features on Lakers and Laker Girls social channels, per the press release. {Fashionista inbox}

5000’s Taylor Thomspon joins CFDA-backed mentorship program

5000’s Taylor Thompson is the American recipient of the inaugural Paul Smith’s Foundation x Council of Fashion Designers of America (CFDA) Designer-in-Residence program. He will join the second cohort of six British designers selected for the The Fashion Residency at Studio Smithfield — a program that assists emerging talent through mentorship and provides studio space in London. The residence will start in January 2026 and last one year. {Fashionista inbox}

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