Must Read: Giorgio Armani to Stage Runway Show at Venice Film Festival, How Cannes Became an Honorary Fashion Week

These are the stories making headlines in fashion on Friday.

Giorgio Armani to present One Night Only fashion show at Venice Film Festival
In tandem with the 80th Venice Film Festival, Giorgio Armani will hold an Armani Privé couture runway show followed by an evening party in the city on Sept. 2. Intended to celebrate Armani's relationship with cinema, the presentation will be the designer's first return to Venice since the 1990 premiere of his documentary "Made in Milan," directed by Martin Scorsese. The event will also mark the renewal of Armani Beauty being the main sponsor of the festival. {Fashionista inbox}

How Cannes became an honorary Fashion Week
The Cannes Film Festival has always been a fashionable event. (The extraordinarily long red carpet and surplus of A-listers make it difficult not to be.) Though this year, fashion is part of the festival in a far more integrative way. Saint Laurent Productions will premiere its first project, Chopard is debuting a couture line and the collaboration between Donatella Versace and Dua Lipa will be unveiled. As for why these events are happening in Cannes, Caroline Scheufele, the artistic director of Chopard said, "There are guests walking a red carpet every night...And it is when we already have our biggest night...It's a must, really, to show here." Donatella Versace added, "Gianni used to say, 'When a star wears a dress, a little of the stardust rubs off on us.'" {The New York Times/paywalled}

How China is aiming to pull ahead in the metaverse race
Though the hype surrounding the metaverse has seemingly died down in the last year, the opposite has been happening in China. Thanks to a very pro-technology government, interest in the metaverse in China has been growing and making waves in the e-commerce space. "Companies [in China] are exploring ways to integrate e-commerce seamlessly into the metaverse, allowing consumers to purchase products with virtual currency or real money," said designer Feng Chen Wang. The metaverse industry in China is expected to reach a $106 billion value in 2023. {Vogue Business/paywalled}

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Anna Sui releases exclusive capsule of her own vintage collection with Free People
Anna Sui has partnered with retailer Free People to release Anna Sui Treasures — a capsule of vintage pieces from her personal collection. Composed of garments like dresses, jackets and denim, each piece is of significance to the designer and has inspired her in her career. New drops will be released bi-monthly. Anna Sui Treasures is available to shop now at FreePeople.com. {Fashionista inbox}

Lululemon takes minority stake in recycling tech company
The athleisure brand Lululemon has invested in a multi-year collaboration with Australian company Samsara Eco, which recycles plastics, including polyester and nylon, into new materials using enzymes. The move comes as more companies within the fashion industry are looking to technology start-ups to help meet their climate goals. {Business of Fashion}

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