Must Read: The Downfall of Beautycounter, Winona Ryder Covers 'Harper's Bazaar'

These are the stories making headlines in fashion on Thursday.

The downfall of Beautycounter
In 2021, global private equity firm Carlyle invested about $600 million into Gregg Renfrew's Beautycounter, a skin-care company distributed through a multilevel marketing model. Within three years, Beautycounter shut down and the money Carlyle put into the company was lost. The New York Times interviewed sellers as well as current and former executives, employees, board members and investors at Carlyle and Beautycounter for an inside look into the downfall of Beautycounter. {The New York Times/paywalled}

Winona Ryder covers Harper's Bazaar
Winona Ryder is the cover star for Harper's Bazaar's August 2024 Performance Issue. Photographed by Liv Liberg and styled by Vanessa Reid, Ryder wears a Gucci jumpsuit, Falke tights and Jimmy Choo kitten heels on the cover. In the cover story written by Thessaly La Force, the actor talks revisiting her role as Lydia Deetz for "Beetlejuice Beetlejuice," her style evolution and working with Tim Burton. The Harper's Bazaar August 2024 Performance Issue will be available on U.S. newsstands beginning July 23. {Harper's Bazaar}

WSG Brands acquires Von Dutch
WSG Brands announced its acquisition of fashion brand Von Dutch on Wednesday. Von Dutch, which soared in popularity during the 2000s with its trucker hats and branded ready-to-wear, will be headed by Jack Cheika and Marc Benitez, WSG's CEO and COO. "We are excited to channel Von Dutch's storied legacy, led for several years by Groupe Royer and now by WSG, into innovative designs that resonate with today's fashion-forward consumers," Cheika and Benitez said in a joint statement. "Our vision is to make Von Dutch not just a brand, but a movement that celebrates individuality and bold expression globally." {Fashionista inbox}

Why does a first lady of a country at war need a stylist?
Olena Zelenska, the first lady of Ukraine, has been working with designer and stylist Natasha Kamenska since mid-2021, and The New York Times' Vanessa Friedman spoke with Kamenska about how ske and Zelenska have used fashion to show what it means to be the first lady of a country at war. "For us, fashion is one more tool to speak about Ukrainians, designers and talent," Kamenska told Friedman. "It's a light way to speak about much more serious things on big public occasions, when the first lady needs to use every detail to support her cause." Kamenska and Zelenska try to incorporate as many Ukrainian brands into the first lady's wardrobe as possible, and at Zelenska's latest appearances in Washington for the NATO Summit, she wore at least nine different Ukrainian designers. {The New York Times/paywalled}

Estée Lauder Companies CFO departing
The Estée Lauder Companies' Chief Financial Officer and Executive Vice President Tracey Travis will exit the company later this year, WWD reports. Travis has been in her position since 2012, and previously worked as senior vice president of finance and CFO at Ralph Lauren Corp. On Tuesday, Travis noted in an internal memo that Jane Lauder, executive vice president of enterprise marketing and chief data officer, and Stéphane de La Faverie, executive group president, were named "co-executive leaders" of the company's Profit Recovery and Growth Plan. {WWD/paywalled}

OTW by Vans collaborates with Undercover
OTW by Vans teamed up with Jun Takahashi's label Undercover to create a capsule reimagining Vans' Era and Sk8-Mid silhouettes. Retailing between $95 and $100, the OTW by Vans x Undercover collaboration features Undercover's Dracula hand motif on the Era and a patterned "Anarchy Is The Key"design on the Sk8-Mid. The collaboration will be available to shop on otw.vans.com on July 16 and undercoverism.com on July 13. See campaign images photographed by Nayquan Shuler below. {Fashionista inbox}

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