Must Read: The Top Brands Winning Over Gen Z, 'AI-Washing' Is Taking Over the Beauty Industry

These are the stories making headlines in fashion on Wednesday.

The top brands winning over Gen Z
A new Launchmetrics study (Reinventing Influence: The Gen Z Impact on Fashion Marketing) found that premium brands are seeing the most success with Gen Z, compared to those in the luxury and budget categories. The generation's top values include comfort, sustainability and inclusivity. Skims, Calvin Klein, Levi's, Lululemon and Birkenstock rank in the top 10 companies with the highest Media Impact Value (MIV). At the top of the list, Skims' 2023 MIV was $638 million, a 407% increase since Launchmetrics began collecting data in 2020. Coach is Gen Z's handbag brand of choice, earning $355 million in MIV in 2023 alone. The report also found that influencers and celebrities are fueling a larger share of brands' MIV. {Fashionista inbox}

"AI-washing" is taking over the beauty industry
Much like how "greenwashing" doesn't make a product better for the environment, Alexis Benveniste of Allure believes "AI-washing" does not make beauty products innovative. While virtual consults and product matching quizzes have existed for nearly a decade and are a form of AI, Benveniste explains that they are examples of predictive AI rather than newer generative AI, the form which most people now associate with the term "AI." The vague buzzword can lead to inflated expectations as companies capitalize on public interest in generative AI. {Allure}

Kering Beauté is now a minority stakeholder in Matière Première
French perfume brand Matière Première has finalized its second round of funding with the investment by Kering Beauté. The undisclosed amount will allow the perfume brand to open 20 standalone stores across the U.K., United States, France, Germany, China and the Middle East. Matière Première will also increase its online presence following the investment. {Cosmetics Business}

Beauty editors form new nonprofit to reduce product waste
Beauty editors Gabby Shacknai and Zoë Weiner have partnered in founding Beautyfor, a nonprofit organization that will save beauty products from landfills. The pair found that up to 40% of beauty products go to waste due to retailers denying products that are within 6-12 months of expiration. Beautyfor has partnered with brands Peter Thomas Roth, Fig 1, Grown Alchemist, IGK, Juice Beauty, Tower 28, and Crown Affair to collect and sell excess beauty products at a 25% discount. Beautyfor will host quarterly pop-ups in New York City and hopes to expand to additional cities in the near future. The first pop-up will take place on June 22 at 31 E 17th Street in Manhattan. Beautyfor will donate all proceeds to charity. Learn more here. {Fashionista inbox}

Marc Jacobs and Melissa release shoe collaboration
Marc Jacobs and Brazilian footwear brand Melissa launched their second collaborative collection on Wednesday. The collection features three jelly styles – a platform, a heeled mule and a ballet flat – each in five colorways and made from vegan recyclable materials. The shoes are available at Melissa.com and Marcjacobs.com. Shop them all below. {Fashionista inbox}

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Saysh and Ba&sh launch collaborative sneaker
Ba&sh and Saysh collaborated to create an exclusive sneaker available in both green and orange accented colorways in anticipation of the Summer Olympics in Paris. The performance sneaker brand Saysh was founded by Allyson Felix, the most decorated track-and-field athlete in U.S. history. The brands connected on the shared value of women's empowerment across all phases of life after Felix's decision to dissolve her ambassadorship with Nike following a decrease in compensation after she announced her pregnancy. The sneakers will be available to purchase both online and in Ba&sh stores on July 10. {Fashionista inbox}

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