These are the stories making headlines in fashion on Friday.
The Costume Institute Is Easing its Reliance on the Met Gala
Since 2016, the Costume Institute has slowly been building an endowment fund. By 2030, the museum will have saved enough to support itself without relying on the Met Gala. The move comes after the museum decided it needed to find a permanent solution to be entirely self-sufficient. The endowment fund also serves as a safety net if the museum were to face unexpected economic disasters, like a global pandemic or a major recession. {The New York Times/paywalled}
‘The Devil Wears Prada 2’ Faces Boycott in Asia
A handful of Asian countries, including China, Japan, South Korea and Hong Kong, are calling for the boycott of “The Devil Wears Prada 2,” due to a controversial representation of an Asian character. Jin Chao (played by Helen J. Shen) serves as Andy Sachs’ (Anne Hathaway) assistant, and Asian viewers accuse the film of reinforcing offensive stereotypes. Those involved have not responded to the backlash. {WWD/paywalled}
CNN Style is Launching a Newsletter
CNN Style is launching a weekly newsletter, “Big Style,” helmed by CNN Senior Style Reporter Rachel Tashjian. Published every Saturday, the newsletter will explore the latest happenings in fashion through a “curated mix” of reflections, conversations, advice and reporting, per the press release. The first issue will go live May 9, featuring in-depth coverage of the Met Gala. {Fashionista inbox}
PVH Foundation Launches New Program to Help Emerging Designers
PVH Foundation is launching “Runway Ahead,” a program that provides funding, mentorship and work experience for emerging designers and students. The program is in collaboration with Harlem’s Fashion Row and the Council of Fashion Designers of America who will provide fellowships, scholarships, grants and hands-on engagement with PVH brands. “Runway Ahead” is part of PVH Foundation’s ongoing efforts to expand access and create opportunity for emerging talent. {PVH}
Estée Lauder Company’s Turnaround Plan is Paying Off
Estée Lauder Company is seeing sales growth following the implementation of its turnaround strategy, “Beauty Reimagined.” In the conglomerate’s fiscal 2026 Q3 report, net sales rose 2% to $3.6 billion. Its fragrance category was a key driver, with a 10% jump in sales. {Estée Lauder Companies}
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