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Subject: J.Crew Jitters, Wexner Epstein-itis & Bode-ology
From: Lauren Sherman <lauren@puck.news>
To: enzo@showfile.com
Message-Id: <20260220013106.620369d3baae9dba@cio66752.puck.news>

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Feb 19, 2026

Line Sheet ( https://puck.news/newsletters/line-sheet/?utm_campaign=3DIC+Ex=
clusive+Line+Sheet+-+INNER+CIRCLE+%282%2F19%2F26%29&utm_content=3DIC+Exclus=
ive+Line+Sheet+-+INNER+CIRCLE+%282%2F19%2F26%29&utm_medium=3Demail_action&u=
tm_source=3Dcustomer.io&utm_term=3Df6c60615e3d301d48d28 )

cinq =C3=A0 sept ( https://cinqasept.nyc/?utm_campaign=3DIC+Exclusive+Line+=
Sheet+-+INNER+CIRCLE+%282%2F19%2F26%29&utm_content=3DIC+Exclusive+Line+Shee=
t+-+INNER+CIRCLE+%282%2F19%2F26%29&utm_medium=3Demail_action&utm_source=3Dc=
ustomer.io&utm_term=3Df6c60615e3d301d48d28 )

Lauren Sherman ( https://puck.news/author/lauren-sherman/?utm_campaign=3DIC=
+Exclusive+Line+Sheet+-+INNER+CIRCLE+%282%2F19%2F26%29&utm_content=3DIC+Exc=
lusive+Line+Sheet+-+INNER+CIRCLE+%282%2F19%2F26%29&utm_medium=3Demail_actio=
n&utm_source=3Dcustomer.io&utm_term=3Df6c60615e3d301d48d28 )
Lauren Sherman ( https://puck.news/author/lauren-sherman/?utm_campaign=3DIC=
+Exclusive+Line+Sheet+-+INNER+CIRCLE+%282%2F19%2F26%29&utm_content=3DIC+Exc=
lusive+Line+Sheet+-+INNER+CIRCLE+%282%2F19%2F26%29&utm_medium=3Demail_actio=
n&utm_source=3Dcustomer.io&utm_term=3Df6c60615e3d301d48d28 )

Hello, and welcome back to Line Sheet. Tonight: What in the world is going =
on at J.Crew? The mall brand
turned cool a few years ago, but a round of layoffs has many people in New =
York asking if the sales are as good as the hype. (This is why you upgrade =
( https://puck.news/inner-circle/?utm_campaign=3DIC+Exclusive+Line+Sheet+-+=
INNER+CIRCLE+%282%2F19%2F26%29&utm_content=3DIC+Exclusive+Line+Sheet+-+INNE=
R+CIRCLE+%282%2F19%2F26%29&utm_medium=3Demail_action&utm_source=3Dcustomer.=
io&utm_term=3Df6c60615e3d301d48d28 ) to Puck=E2=80=99s Inner Circle, people=
=2E) Up top, a bit on Bode=E2=80=99s slo-m=
o strategy, the latest in Les Wexne=
r news, and a quick note on all the model stuff in the Epstein files.

Tomorrow on Fashion People, my guests
are Elissa Santisi and Francesca Keller. Elissa is a famous (and famously c=
ool) stylist, Francesca is an actress, producer, and maker of hilarious Tik=
Tok videos ( https://www.tiktok.com/@badgalfrancesca?utm_campaign=3DIC+Excl=
usive+Line+Sheet+-+INNER+CIRCLE+%282%2F19%2F26%29&utm_content=3DIC+Exclusiv=
e+Line+Sheet+-+INNER+CIRCLE+%282%2F19%2F26%29&utm_medium=3Demail_action&utm=
_source=3Dcustomer.io&utm_term=3Df6c60615e3d301d48d28 ), many of which star=
 Elissa. We discuss Elissa=E2=80=99s life in fashion, Francesca=E2=80=99s e=
xperience of Elissa=E2=80=99s life in fashion, their shared fame, Phoebe Ph=
ilo, and so much more. (Requisite
reading: Alyssa Vingan=E2=80=99s New York Times piece ( https://www.nytimes=
=2Ecom/2025/10/18/style/tiktok-infuenc=
er-voguette.html?utm_campaign=3DIC+Excl=
usive+Line+Sheet+-+INNER+CIRCLE+%282%2F19%2F26%29&utm_content=3DIC+Exclusiv=
e+Line+Sheet+-+INNER+CIRCLE+%282%2F19%2F26%29&utm_medium=3Demail_action&utm=
_source=3Dcustomer.io&utm_term=3Df6c60615e3d301d48d28 ) on the duo.) Listen=
 here ( https://open.spotify.com/show/0QzJQbXngjCAM1RSZrgIdn?utm_campaign=
=3DIC+Exclusive+Line+Sheet+-+INNER+CIRCLE+%282%2F19%2F26%29&utm_content=3DI=
C+Exclusive+Line+Sheet+-+INNER+CIRCLE+%282%2F19%2F26%29&utm_medium=3Demail_=
action&utm_source=3Dcustomer.io&utm_term=3Df6c60615e3d301d48d28 ) and here =
( https://podcasts.apple.com/us/podcast/fashion-people/id1741589082?utm_cam=
paign=3DIC+Exclusive+Line+Sheet+-+INNER+CIRCLE+%282%2F19%2F26%29&utm_conten=
t=3DIC+Exclusive+Line+Sheet+-+INNER+CIRCLE+%282%2F19%2F26%29&utm_medium=3De=
mail_action&utm_source=3Dcustomer.io&utm_term=3Df6c60615e3d301d48d28 ).

A MESSAGE FROM OUR SPONSOR

cinq =C3=A0 sept ( https://cinqasept.nyc/?utm_campaign=3DIC+Exclusive+Line+=
Sheet+-+INNER+CIRCLE+%282%2F19%2F26%29&utm_content=3DIC+Exclusive+Line+Shee=
t+-+INNER+CIRCLE+%282%2F19%2F26%29&utm_medium=3Demail_action&utm_source=3Dc=
ustomer.io&utm_term=3Df6c60615e3d301d48d28 )

cinq =C3=A0 sept ( https://cinqasept.nyc/?utm_campaign=3DIC+Exclusive+Line+=
Sheet+-+INNER+CIRCLE+%282%2F19%2F26%29&utm_content=3DIC+Exclusive+Line+Shee=
t+-+INNER+CIRCLE+%282%2F19%2F26%29&utm_medium=3Demail_action&utm_source=3Dc=
ustomer.io&utm_term=3Df6c60615e3d301d48d28 )

Sharing its name with the French term for the liminal moment linking late a=
fternoon and early evening, Cinq =C3=A0 Sept
brings the intriguing tension between day and night to an advanced contempo=
rary collection.

=C2=A0

Inspired by the hours between 5 and 7 p.m., when city streets are awash in =
the warm glow of the vanishing sun and office desks are abandoned for cockt=
ails and as-yet unknown possibilities, Cinq =C3=A0 Sept embodies a delibera=
te balance between sophistication and ease, youthful daring, and confident =
allure.

Mentioned in this issue: J.Crew, Brendon Babenzien, Elodie David,
Pieter Mulier, New York Fashion Week, Yoyogi-Uehara, Phoebe Philo, Bode, Ca=
rolyn Bessette Kennedy, Wes Anderson, Kevin Ulrich, Skims, Collina Strada, =
Ralph Lauren, Eckhaus Latta, Benjamin Talley Smith, Celine, Nikolai von Bis=
marck, The Row, Maryam Nassir Zadeh, Abercrombie & Fitch, Emily Adams, and =
more=E2=80=A6

=E2=80=8A

Three Things You Should Know=E2=80=A6
-------------------------------

* Les=E2=80=99s
(second-to-last?) stand: Les Wexner, the pioneering retail executive who tu=
rned Victoria=E2=80=99s Secret, Bath & Body Works, and Abercrombie & Fitch =
into icons of consumer culture, testified in front of members of the House =
Oversight Committee regarding his relationship with Jeffrey Epstein on Wedn=
esday. A video of the closed-door deposition, which took place at Wexner=E2=
=80=99s home in New Albany, Ohio, a town he developed himself, is
available ( https://www.youtube.com/watch?v=3DvysYhHlsI48&utm_campaign=3DIC=
+Exclusive+Line+Sheet+-+INNER+CIRCLE+%282%2F19%2F26%29&utm_content=3DIC+Exc=
lusive+Line+Sheet+-+INNER+CIRCLE+%282%2F19%2F26%29&utm_medium=3Demail_actio=
n&utm_source=3Dcustomer.io&utm_term=3Df6c60615e3d301d48d28 ) on the G.O.P. =
Oversight Committee=E2=80=99s YouTube channel, despite the fact that they o=
riginally said it would be made available via transcript only. The most rev=
ealing bit, from what I have had time to review, is that Wexner denied ever=
 meeting late Epstein accuser Virginia Giuffre, who once said Wexner sexual=
ly abused her (but eventually backtracked the
accusation).

Prior to the deposition, Wexner released a statement outlining his version =
of how he met Epstein and ended up working with him, and his testimony mimi=
cked the note. =E2=80=9COver the years, I have been the subject of outrageo=
us untrue statements and hurtful rumor, innuendo, and speculation,=E2=80=9D=
 he wrote. =E2=80=9CLet me state from the start: I was na=C3=AFve, foolish,=
 and gullible to put any trust in Jeffrey Epstein. He was a con man. And wh=
ile I was conned, I have done nothing wrong and have
nothing to hide.=E2=80=9D

Maybe so, but there=E2=80=99s no denying that Wexner made Epstein very rich=
=2E In the statement, Wexner made=20=
no mention of the =E2=80=9Cgang stuff=E2=80=
=9D that Epstein referred to in communications to Wexner, nor did he mentio=
n his sister, mother, ex-girlfriend, and former business associates, all of=
 whom Epstein called out in his notes to Wexner as people he essentially de=
alt with for the executive. However, Wexner did say he vetted Epstein with =
Bear Stearns=E2=80=99 Ace
Greenberg and Jimmy Cayne. He also explained why he granted Epstein power o=
f attorney=E2=80=94which has been one of the great mysteries of their relat=
ionship.

Early on, Wexner explained, Epstein was simply a friend with benefits. =E2=
=80=9CEpstein offered me advice here and there while explaining that giving=
 individual financial advice was not his focus and refusing to accept compe=
nsation,=E2=80=9D Wexner wrote. =E2=80=9CHe said he was assisting me as a f=
avor. Little did I realize that, from the
very start, Epstein was conniving to gain my trust. As my financial resourc=
es and time demands continued to grow, I formally hired Epstein to manage m=
y personal finances. Because my public company and other duties required my=
 full attention, I provided Epstein with a power of attorney so he could ex=
ecute transactions quickly, without constantly requiring my signature.=E2=
=80=9D

As someone who wrote a
book ( https://www.amazon.com/Selling-Sexy-Unstoppable-Inevitable-Complicat=
ed-ebook/dp/B0B864S233?utm_campaign=3DIC+Exclusive+Line+Sheet+-+INNER+CIRCL=
E+%282%2F19%2F26%29&utm_content=3DIC+Exclusive+Line+Sheet+-+INNER+CIRCLE+%2=
82%2F19%2F26%29&utm_medium=3Demail_action&utm_source=3Dcustomer.io&utm_term=
=3Df6c60615e3d301d48d28 ) about Wexner=E2=80=94a shy man who lacked confide=
nce in his body when he was young=E2=80=94this tracked for me. What makes l=
ess sense is how Wexner could have worked so intimately with someone for 20=
 years and known nothing about his illegal activities.

After the testimony, a spokesperson for Wexner said that he =E2=80=9Chonest=
ly answered every question
put to him today by the committee,=E2=80=9D and that =E2=80=9CMr. Wexner re=
iterated that he has no knowledge of, and did not participate in, Epstein=
=E2=80=99s illegal conduct.=E2=80=9D He answered so honestly, it seems, tha=
t at one point during the deposition his lawyer leaned over to him and whis=
pered ( https://x.com/reesejgorman/status/2024591241782939825?utm_campaign=
=3DIC+Exclusive+Line+Sheet+-+INNER+CIRCLE+%282%2F19%2F26%29&utm_content=3DI=
C+Exclusive+Line+Sheet+-+INNER+CIRCLE+%282%2F19%2F26%29&utm_medium=3Demail_=
action&utm_source=3Dcustomer.io&utm_term=3Df6c60615e3d301d48d28 ), =E2=80=
=9CI=E2=80=99ll fucking kill you if you answer another question with more t=
han five words, okay?=E2=80=9D

This may not be
the last time the 88-year-old Wexner takes the stand: He=E2=80=99s also bee=
n called to testify in a case involving a former Ohio State University doct=
or accused of rape by students over the span of 30 years. Wexner was on the=
 school=E2=80=99s board of directors during much of that period. More to co=
me, I=E2=80=99m sure.
* The modelizers: One of the most interesting details about the Epstein fil=
es, at least to me, is how few big fashion industry power players were ment=
ioned.
There are reasons for this. Epstein mostly advised wealthy people in the U.=
S., and most major fashion execs are European. Also, luxury fashion only be=
came a truly giant, global business in the mid-2000s, around the time of Ep=
stein=E2=80=99s first prosecution. Finally, as Peter Hamby pointed out on F=
riday=E2=80=99s episode of The Powers That Be, a lot of the guys engaging w=
ith Epstein and Ghislaine Maxwell were massive dorks. And while not every e=
xecutive in fashion is
smart, they tend to be able to hold a conversation.

Anyway, the one fashion-adjacent subset in the files is modeling agents, an=
d our ace researcher Maya Tribbitt recently combed the documents to figure =
out the scope of the role that the modeling industry played in facilitating=
 Epstein=E2=80=99s behavior. (As readers may remember, he often posed as a =
model recruiter for Victoria=E2=80=99s Secret.) Obviously, the late French =
model scout Jean-Luc Brunel was at the center of
the correspondence between Epstein and the modeling world, with more than 4=
,000 mentions in the documents including duplicates. But there was also Mod=
el Management founder Faith Kates, who =E2=80=9Cretired=E2=80=9D from the a=
gency in December (another 4,000 mentions). Meanwhile, hundreds of other em=
ails show Epstein procuring models from scouting agents (like Daniel Siad) =
all over the world for unclear purposes.

We all know that modeling has historically
been, by and large, an exploitative industry. But the Epstein files undersc=
ore why more reform is still necessary. I reached out to Kates regarding he=
r relationship with Epstein but have yet to hear back. As for Siad, he told=
 a French television station that Epstein =E2=80=9Ctook advantage of my tru=
st. He=E2=80=99s a gentleman, he knows how to talk, he=E2=80=99s a diplomat=
=2E I wasn=E2=80=99t in a position to kn=
ow that this man was dangerous.=E2=80=
=9D
* The Bode way: I remember a Bode show
during Paris Men=E2=80=99s Fashion Week several years ago where the models =
walked so slowly I couldn=E2=80=99t even pay attention to the clothes. It w=
as annoying, but also fitting for Emily Adams=E2=80=99s brand, which likes =
to move slowly=E2=80=94and that is, runway shows aside, a good thing. She s=
tages fashion shows and opens stores when she wants to. This week, for inst=
ance, she debuted an outpost on the ground floor of an apartment building i=
n Tokyo=E2=80=99s Yoyogi-Uehara neighborhood. Naturally, it was
designed by Green River Project, the interiors firm run by her husband and =
frequent collaborator, Aaron Aujla, who designs rooms fit for a Wes Anderso=
n film. (I=E2=80=99m sure he would bristle at that description faster than =
you can say =E2=80=9CPopeye magazine.=E2=80=9D)

bode tokyo

* Bode
undoubtedly scored some funding to fuel this retail expansion=E2=80=94there=
 are stores in New York, Los Angeles, and now Tokyo=E2=80=94but it also doe=
sn=E2=80=99t feel rushed. Rather, the beginning of a 20-year path to someth=
ing bigger, akin to what The Row achieved over the same span, but without r=
elying so much on the wholesale market. Also, Bode is a lifestyle brand, wh=
ich means the potential for growth is far larger than a fashion pure play: =
homegoods, hotels, etcetera. If you want to anoint someone heir apparent
to Ralph Lauren, it=E2=80=99s no doubt Bode. Don=E2=80=99t ask me about rev=
enue numbers for at least five years.

And now on to the main event=E2=80=A6

J. Crew Cuts ( https://puck.news/j-crew-is-cool-again-but-is-it-selling/?ut=
m_campaign=3DIC+Exclusive+Line+Sheet+-+INNER+CIRCLE+%282%2F19%2F26%29&utm_c=
ontent=3DIC+Exclusive+Line+Sheet+-+INNER+CIRCLE+%282%2F19%2F26%29&utm_mediu=
m=3Demail_action&utm_source=3Dcustomer.io&utm_term=3Df6c60615e3d301d48d28 )

Inner Circle Exclusive

***************************************************************************=
***************************************************************************=
***************************************************************************=
****************************************************************
J.Crew Cuts ( https://puck.news/j-crew-is-cool-again-but-is-it-selling/?utm=
_campaign=3DIC+Exclusive+Line+Sheet+-+INNER+CIRCLE+%282%2F19%2F26%29&utm_co=
ntent=3DIC+Exclusive+Line+Sheet+-+INNER+CIRCLE+%282%2F19%2F26%29&utm_medium=
=3Demail_action&utm_source=3Dcustomer.io&utm_term=3Df6c60615e3d301d48d28 )
***************************************************************************=
***************************************************************************=
***************************************************************************=
****************************************************************

Menswear designer Brendon Babenzien=E2=80=99s exit at J.Crew is a signal th=
at a recent stretch of
buzz-building at everyone=E2=80=99s favorite mall brand is giving way to th=
e realities of retail at scale.

Lauren Sherman ( https://puck.news/author/lauren-sherman/?utm_campaign=3DIC=
+Exclusive+Line+Sheet+-+INNER+CIRCLE+%282%2F19%2F26%29&utm_content=3DIC+Exc=
lusive+Line+Sheet+-+INNER+CIRCLE+%282%2F19%2F26%29&utm_medium=3Demail_actio=
n&utm_source=3Dcustomer.io&utm_term=3Df6c60615e3d301d48d28 )
Lauren Sherman ( https://puck.news/author/lauren-sherman/?utm_campaign=3DIC=
+Exclusive+Line+Sheet+-+INNER+CIRCLE+%282%2F19%2F26%29&utm_content=3DIC+Exc=
lusive+Line+Sheet+-+INNER+CIRCLE+%282%2F19%2F26%29&utm_medium=3Demail_actio=
n&utm_source=3Dcustomer.io&utm_term=3Df6c60615e3d301d48d28 )

During New York Fashion Week, the team at J.Crew once again managed to hold=
 the conversation while steering
clear of a runway. At the Olney Gleason gallery on Tuesday night, the priva=
tely owned brand celebrated the =E2=80=9Crollneck remix,=E2=80=9D a collect=
ion of limited-edition jumpers rendered in the style of that straight-out-o=
f-Singles =E2=80=9990s cotton knit, by various indie labels=E2=80=94from Co=
llina Strada to Eckhaus Latta. Several versions sold out almost immediately=
, just in time for the start of the shows, where creative director Olympia =
Gayot was a front-row fixture in her perfect Lee
jeans.

A MESSAGE FROM OUR SPONSOR

cinq =C3=A0 sept ( https://cinqasept.nyc/?utm_campaign=3DIC+Exclusive+Line+=
Sheet+-+INNER+CIRCLE+%282%2F19%2F26%29&utm_content=3DIC+Exclusive+Line+Shee=
t+-+INNER+CIRCLE+%282%2F19%2F26%29&utm_medium=3Demail_action&utm_source=3Dc=
ustomer.io&utm_term=3Df6c60615e3d301d48d28 )

cinq =C3=A0 sept ( https://cinqasept.nyc/?utm_campaign=3DIC+Exclusive+Line+=
Sheet+-+INNER+CIRCLE+%282%2F19%2F26%29&utm_content=3DIC+Exclusive+Line+Shee=
t+-+INNER+CIRCLE+%282%2F19%2F26%29&utm_medium=3Demail_action&utm_source=3Dc=
ustomer.io&utm_term=3Df6c60615e3d301d48d28 )

Sharing its name with the French term for the liminal moment linking late a=
fternoon and early evening, Cinq =C3=A0 Sept
brings the intriguing tension between day and night to an advanced contempo=
rary collection.

=C2=A0

Inspired by the hours between 5 and 7 p.m., when city streets are awash in =
the warm glow of the vanishing sun and office desks are abandoned for cockt=
ails and as-yet unknown possibilities, Cinq =C3=A0 Sept embodies a delibera=
te balance between sophistication and ease, youthful daring, and confident =
allure.

Gayot, a former stylist who got an early start at the well-loved denim labe=
l Earnest Sewn, has been the
not-so-secret weapon in the recent J.Crew renaissance. Guided by C.E.O. Lib=
by Wadle=E2=80=94a Mickey Drexler disciple who survived several failed C.E.=
O.s before convincing the board that she could run the thing herself=E2=80=
=94J.Crew has managed to become the =E2=80=9Ccool=E2=80=9D mall brand, empl=
oying tastemaking elites, such as Parisian art director Franck Durand and t=
he photographer Sean Thomas, and collaborating with niche, beloved labels i=
ncluding Maryam
Nassir Zadeh, Alex Eagle, and Araks.

There=E2=80=99s plenty to like about this incarnation of J.Crew. It=E2=80=
=99s not like Gap or Old Navy, which don=E2=80=99t matter to fashion people=
 beyond their historical relevance. (See: the Oldgap_ ( https://www.instagr=
am.com/oldgap_/?hl=3Den&utm_campaign=3DIC+Exclusive+Line+Sheet+-+INNER+CIRC=
LE+%282%2F19%2F26%29&utm_content=3DIC+Exclusive+Line+Sheet+-+INNER+CIRCLE+%=
282%2F19%2F26%29&utm_medium=3Demail_action&utm_source=3Dcustomer.io&utm_ter=
m=3Df6c60615e3d301d48d28 ) Instagram account.) The clothes are simple and n=
uanced, the brand hires cool models, and the stuff doesn=E2=80=99t look tac=
ky. But positive sentiment does not always equal positive
sales, especially in the low-margin game of mass retail, which is inevitabl=
y lousy with markdowns.=C2=A0 And despite an image overhaul led by Wadle an=
d Gayot=E2=80=94and, to a lesser extent, outgoing ( https://puck.news/a-j-c=
rew-designer-exit-gqs-global-reset/?utm_campaign=3DIC+Exclusive+Line+Sheet+=
-+INNER+CIRCLE+%282%2F19%2F26%29&utm_content=3DIC+Exclusive+Line+Sheet+-+IN=
NER+CIRCLE+%282%2F19%2F26%29&utm_medium=3Demail_action&utm_source=3Dcustome=
r.io&utm_term=3Df6c60615e3d301d48d28 ) menswear designer Brendon Babenzien =
and board chair Kevin Ulrich=E2=80=94the company has not addressed the prob=
lem that plagues almost all mid-priced
brands in this market: It=E2=80=99s nearly impossible to make a profit with=
out considerable scale.

J.Crew stopped publicly reporting financial results after restructuring its=
 debt through a pandemic-era Chapter 11 bankruptcy filing, but revenue=E2=
=80=94which is approaching $3 billion across J.Crew, Madewell, and J.Crew F=
actory, I=E2=80=99m told=E2=80=94is now heavily weighted to the off-price c=
hannel, according to people with access to the financial figures. A person =
close to senior management told me that off-price,
which the brand refers to as the =E2=80=9Cvalue=E2=80=9D channel, was perfo=
rming well. But this person also stipulated that this segment relies on a d=
ifferent customer than the full-price channel, where the team has worked ha=
rd for the past six years to reduce reliance on the markdown cycle.

Meanwhile, once fast-growing sister brand Madewell has collapsed after miss=
ing the mark on loungewear during the pandemic, and a subsequently disastro=
us tenure with an unchic C.E.O. who didn=E2=80=99t understand how to make
the jeans look good. And while J.Crew=E2=80=99s men=E2=80=99s category is t=
he healthiest part of the parentco=E2=80=99s business, it=E2=80=99s still t=
iny compared to women=E2=80=99s=E2=80=94which has been described to me as =
=E2=80=9Ctanking.=E2=80=9D A source close to Wadle pushed back on that, say=
ing they are making the progress they expected in a tough women=E2=80=99s m=
arket. According to data provided to me by research firm Consumer Edge, sal=
es at J.Crew=E2=80=94across the full-line and off-price channels, in-store =
and online=E2=80=94were down every month for the past 12 months
ending in January, in some months by more than 10 percent. (Consumer Edge=
=E2=80=99s data was culled from 40 million U.S. credit cards.) This data, o=
f course, doesn=E2=80=99t account for all revenue taken in by J.Crew, and i=
sn=E2=80=99t reflective of productivity or profitability. But it=E2=80=99s =
an indicator, nonetheless.

Anyway, was this all the pretext for Babenzien=E2=80=99s sudden announcemen=
t, this past week, that he was exiting the business? Or why several employe=
es on his team were let go in a round of
layoffs, which a source close to leadership described to me as minimal and =
a beginning-of-the-year house cleaning?

A Madewell
Spinoff?
----------

The answer may be simpler than expected. J.Crew, which has debt holders, ne=
eds to sell sooner
rather than later, even if they aren=E2=80=99t currently in discussions to =
do so. The brand missed a window a few years back, when revenue was up and =
buzz was intense, and it needs to thin out significantly to lure a buyer th=
is time around. In this strategy, it would make sense to merge the men=E2=
=80=99s and women=E2=80=99s brand identities=E2=80=94from the campaigns to =
the Instagram accounts. And, of course, it would be Gayot who would win out=
 in that competition.

Babenzien, who also runs, owns, and designs the label
Noah, was never a full-time employee, and spent what many viewed as minimal=
 time in the J.Crew offices. Certain employees also described his relations=
hip with still-new C.M.O. Julia Collier, who hailed from Skims, as tense=E2=
=80=94although I=E2=80=99m not sure it would have made a difference if they=
 were besties. Collier was a big get for Wadle and the board, and could eas=
ily be poached. Gayot was almost picked off last year after Banana Republic=
 offered her a job. These two women will get
buyers to notice J.Crew while Wadle ensures that the finances are in order.=
 In the meantime, there was speculation this week that the group might turn=
 Madewell into a subbrand of J.Crew at some point.

cinq =C3=A0 sept ( https://cinqasept.nyc/?utm_campaign=3DIC+Exclusive+Line+=
Sheet+-+INNER+CIRCLE+%282%2F19%2F26%29&utm_content=3DIC+Exclusive+Line+Shee=
t+-+INNER+CIRCLE+%282%2F19%2F26%29&utm_medium=3Demail_action&utm_source=3Dc=
ustomer.io&utm_term=3Df6c60615e3d301d48d28 )

cinq =C3=A0 sept ( https://cinqasept.nyc/?utm_campaign=3DIC+Exclusive+Line+=
Sheet+-+INNER+CIRCLE+%282%2F19%2F26%29&utm_content=3DIC+Exclusive+Line+Shee=
t+-+INNER+CIRCLE+%282%2F19%2F26%29&utm_medium=3Demail_action&utm_source=3Dc=
ustomer.io&utm_term=3Df6c60615e3d301d48d28 )

A capsule collection with the uber-talented =E2=80=9Cdenim whisperer=E2=80=
=9D Benjamin Talley Smith is not
going save Madewell, but I=E2=80=99m told that folding Madewell in isn=E2=
=80=99t in the cards, either. Designer Steven Cateron, who arrived at the t=
ail end of former president Adrienne Lazarus=E2=80=99s tenure, is finally g=
etting his footing, and the new product, which has yet to land in stores, i=
s promising.

There aren=E2=80=99t many potential buyers for J.Crew, but the tighter Wadl=
e makes it, the easier it=E2=80=99ll be to find one. And when that happens,=
 don=E2=80=99t expect J.Crew to throw chic
parties at galleries in Chelsea. So you better grab your rollneck while the=
y=E2=80=99re still starry-eyed enough to create them.

=E2=80=8A

What I=E2=80=99m Reading...
---------------------

My interest in advertising campaigns is heightened this season, perhaps bec=
ause they showcase so many debut
collections, including Loewe ( https://www.instagram.com/p/DU0dgmtDFX7/?img=
_index=3D1&utm_campaign=3DIC+Exclusive+Line+Sheet+-+INNER+CIRCLE+%282%2F19%=
2F26%29&utm_content=3DIC+Exclusive+Line+Sheet+-+INNER+CIRCLE+%282%2F19%2F26=
%29&utm_medium=3Demail_action&utm_source=3Dcustomer.io&utm_term=3Df6c60615e=
3d301d48d28 ), Jil Sander ( https://www.instagram.com/p/DUkzAh6DKia/?hl=3De=
n&utm_campaign=3DIC+Exclusive+Line+Sheet+-+INNER+CIRCLE+%282%2F19%2F26%29&u=
tm_content=3DIC+Exclusive+Line+Sheet+-+INNER+CIRCLE+%282%2F19%2F26%29&utm_m=
edium=3Demail_action&utm_source=3Dcustomer.io&utm_term=3Df6c60615e3d301d48d=
28 ), and Celine ( https://www.instagram.com/p/DU20r3HETEb/?hl=3Den&utm_cam=
paign=3DIC+Exclusive+Line+Sheet+-+INNER+CIRCLE+%282%2F19%2F26%29&utm_conten=
t=3DIC+Exclusive+Line+Sheet+-+INNER+CIRCLE+%282%2F19%2F26%29&utm_medium=3De=
mail_action&utm_source=3Dcustomer.io&utm_term=3Df6c60615e3d301d48d28 ). Ste=
fano Gallici=E2=80=99s first Ann Demeulemeester campaign has also arrived, =
shot by Nikolai
von Bismarck and styled by Elodie David. [WWD ( https://wwd.com/fashion-new=
s/fashion-scoops/ann-demeulemeester-stefano-gallici-first-ad-campaign-look-=
1238611210/?utm_campaign=3DIC+Exclusive+Line+Sheet+-+INNER+CIRCLE+%282%2F19=
%2F26%29&utm_content=3DIC+Exclusive+Line+Sheet+-+INNER+CIRCLE+%282%2F19%2F2=
6%29&utm_medium=3Demail_action&utm_source=3Dcustomer.io&utm_term=3Df6c60615=
e3d301d48d28 )]

I honestly think the idea of owning a piece of Carolyn Bessette Kennedy=E2=
=80=99s wardrobe is a little creepy, but worth browsing this selection for =
The RealReal and Poshmark inspiration.
[Fashion Auctioneers ( https://bid.thefashionauctioneer.com/auctions/the-fa=
shion-auctioneer/exceptional-fashion-including-items-from-the-wardrobe-of-c=
arolyn-bessette-kennedy-22420?utm_campaign=3DIC+Exclusive+Line+Sheet+-+INNE=
R+CIRCLE+%282%2F19%2F26%29&utm_content=3DIC+Exclusive+Line+Sheet+-+INNER+CI=
RCLE+%282%2F19%2F26%29&utm_medium=3Demail_action&utm_source=3Dcustomer.io&u=
tm_term=3Df6c60615e3d301d48d28 )]

Phoebe Phorever. [T magazine ( https://www.nytimes.com/2026/02/16/t-magazin=
e/phoebe-philo-fashion-influence.html?utm_campaign=3DIC+Exclusive+Line+Shee=
t+-+INNER+CIRCLE+%282%2F19%2F26%29&utm_content=3DIC+Exclusive+Line+Sheet+-+=
INNER+CIRCLE+%282%2F19%2F26%29&utm_medium=3Demail_action&utm_source=3Dcusto=
mer.io&utm_term=3Df6c60615e3d301d48d28 )]

I, too, am obsessed with the way Pieter Mulier
layers his tees. [X ( https://x.com/BOTTEGAHOENETA/status/20242029421783740=
13?utm_campaign=3DIC+Exclusive+Line+Sheet+-+INNER+CIRCLE+%282%2F19%2F26%29&=
utm_content=3DIC+Exclusive+Line+Sheet+-+INNER+CIRCLE+%282%2F19%2F26%29&utm_=
medium=3Demail_action&utm_source=3Dcustomer.io&utm_term=3Df6c60615e3d301d48=
d28 )]

Reformation is funny with this Laura Wasser (the Hollywood divorce lawyer) =
collaboration. [Reformation ( https://go.shopmy.us/p-43776032?utm_campaign=
=3DIC+Exclusive+Line+Sheet+-+INNER+CIRCLE+%282%2F19%2F26%29&utm_content=3DI=
C+Exclusive+Line+Sheet+-+INNER+CIRCLE+%282%2F19%2F26%29&utm_medium=3Demail_=
action&utm_source=3Dcustomer.io&utm_term=3Df6c60615e3d301d48d28 )]

Brunello Cucinelli beat analyst expectations in 2025.
[WWD ( https://wwd.com/business-news/financial/brunello-cucinelli-saks-glob=
al-reports-strong-2025-growth-1238615183/?utm_campaign=3DIC+Exclusive+Line+=
Sheet+-+INNER+CIRCLE+%282%2F19%2F26%29&utm_content=3DIC+Exclusive+Line+Shee=
t+-+INNER+CIRCLE+%282%2F19%2F26%29&utm_medium=3Demail_action&utm_source=3Dc=
ustomer.io&utm_term=3Df6c60615e3d301d48d28 )]

Annie Leibovitz is the new face of Givenchy. (Shot by Collier Schorr.) [Ins=
tagram ( https://www.instagram.com/p/DU8Zg4dCPPI/?utm_campaign=3DIC+Exclusi=
ve+Line+Sheet+-+INNER+CIRCLE+%282%2F19%2F26%29&utm_content=3DIC+Exclusive+L=
ine+Sheet+-+INNER+CIRCLE+%282%2F19%2F26%29&utm_medium=3Demail_action&utm_so=
urce=3Dcustomer.io&utm_term=3Df6c60615e3d301d48d28 )]

=E2=80=8A

Until tomorrow,
Lauren

P.S.: We use affiliate links because we are a business. We may make
a couple bucks off them.

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kit-text-size-adjust:none;text-size-adjust:none;"><div style=3D"display: no=
ne">Hello, and welcome back to Line Sheet. Tonight: What in the world is go=
ing on at J.Crew? The mall brand turned cool a few years ago, but a round o=
f layoffs has many people in New York asking if the sales are as good as th=
e hype. (This is why you upgrade to Puck=E2=80=99s Inner Circle, people.) U=
p top, a bit on Bode=E2=80=99s slo-mo strategy, the latest in Les Wexner ne=
ws, and a quick note on all the model stuff in the Epstein files. =E2=80=87=
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MiUyRjE5JTJGMjYlMjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3V=
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2cdb1232c086c6ee9ede83f8dd5c4851614d3d36905627426125" target=3D"_blank"><im=
g src=3D"https://userimg-assets.customeriomail.com/images/client-env-107382=
/1735589195819_nameplate-line-sheet-ice_01JGCJTW3SV86D31EECJ1SQ7VN.png" sty=
le=3D"display:block;height:auto;border:0;width:100%;" width=3D"600" alt=3D"=
Line Sheet" title=3D"Line Sheet" height=3D"auto"/></a></div></div>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
<table align=3D"center" width=3D"100%" border=3D"0" cellpadding=3D"0" cells=
pacing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-=
rspace:0pt;"><tbody><tr><td>
<table class=3D"c ie" align=3D"center" border=3D"0" cellpadding=3D"0" cells=
pacing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-=
rspace:0pt;background-color:#ffffff;color:#000000;border-radius:0;width:600=
px;margin:0 auto;" width=3D"600"><tbody><tr><td class=3D"yq o" width=3D"100=
%" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-=
align:left;border-bottom:1px solid #d40000;vertical-align:top;">
<table class=3D"j" width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacin=
g=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rspac=
e:0pt;"><tbody><tr><td style=3D"width:100%;"><div align=3D"center"><div sty=
le=3D"max-width:600px;"><a href=3D"https://email.puck.news/e/c/eyJlbWFpbF9p=
ZCI6ImRnVDJ4Z1lEQU5TTktOT05LQUdjZUpIb0VFU0k0dUdkWE81SDlGOD0iLCJocmVmIjoiaHR=
0cHM6Ly9jaW5xYXNlcHQubnljLz91dG1fY2FtcGFpZ249SUMrRXhjbHVzaXZlK0xpbmUrU2hlZX=
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GNsdXNpdmUrTGluZStTaGVldCstK0lOTkVSK0NJUkNMRSslMjgyJTJGMTklMkYyNiUyOVx1MDAy=
NnV0bV9tZWRpdW09ZW1haWxfYWN0aW9uXHUwMDI2dXRtX3NvdXJjZT1jdXN0b21lci5pb1x1MDA=
yNnV0bV90ZXJtPWY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwiaW50ZXJuYWwiOiJmNmM2MDYxNWUzZD=
MwMWQ0OGQyOCIsImxpbmtfaWQiOjI1ODE4MTF9/4027c7023b974e4dede78680bd1f3c049dba=
7af459ce5bee3509d9c97862e515" target=3D"_blank"><img src=3D"https://userimg=
-assets.customeriomail.com/images/client-env-107382/1770672733466_header-sp=
onsor-cinq_01KH253FCYF9ZW85M0NFJDN9V8.png" style=3D"display:block;height:au=
to;border:0;width:100%;" width=3D"600" alt=3D"cinq =C3=A0 sept" title=3D"ci=
nq =C3=A0 sept" height=3D"auto"/></a></div></div>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
<table align=3D"center" width=3D"100%" border=3D"0" cellpadding=3D"0" cells=
pacing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-=
rspace:0pt;"><tbody><tr><td>
<table class=3D"c ie" align=3D"center" border=3D"0" cellpadding=3D"0" cells=
pacing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-=
rspace:0pt;background-color:#ffffff;color:#000000;border-radius:0;width:600=
px;margin:0 auto;" width=3D"600"><tbody><tr><td class=3D"yq o" width=3D"100=
%" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-=
align:left;padding-left:24px;padding-right:24px;padding-top:32px;vertical-a=
lign:top;">
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=
=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;text-a=
lign:left;line-height:0;"><tbody><tr><td style=3D"vertical-align:middle;col=
or:#d40000;font-family:'PuckSerifDisplay','Georgia';font-size:20px;font-wei=
ght:400;padding-bottom:24px;text-align:left;">
<table class=3D"b" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;displ=
ay:inline-block;padding-left:0px;padding-right:0px;" cellpadding=3D"0" cell=
spacing=3D"0" role=3D"presentation"><tbody><tr><td style=3D"vertical-align:=
middle;text-align:center;padding-top:0px;padding-bottom:0px;padding-left:0p=
x;padding-right:0px;"><a href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZC=
I6ImRnVDJ4Z1lEQU5TTktOT05LQUdjZUpIb0VFU0k0dUdkWE81SDlGOD0iLCJocmVmIjoiaHR0c=
HM6Ly9wdWNrLm5ld3MvYXV0aG9yL2xhdXJlbi1zaGVybWFuLz91dG1fY2FtcGFpZ249SUMrRXhj=
bHVzaXZlK0xpbmUrU2hlZXQrLStJTk5FUitDSVJDTEUrJTI4MiUyRjE5JTJGMjYlMjlcdTAwMjZ=
1dG1fY29udGVudD1JQytFeGNsdXNpdmUrTGluZStTaGVldCstK0lOTkVSK0NJUkNMRSslMjgyJT=
JGMTklMkYyNiUyOVx1MDAyNnV0bV9tZWRpdW09ZW1haWxfYWN0aW9uXHUwMDI2dXRtX3NvdXJjZ=
T1jdXN0b21lci5pb1x1MDAyNnV0bV90ZXJtPWY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwiaW50ZXJu=
YWwiOiJmNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImxpbmtfaWQiOjQyODk2M30/50268d356256b69=
a1bd1fb72c597734dcf8bea93a27595c673253153fe91e240" target=3D"_self" title=
=3D"" style=3D"text-decoration:none;"><img alt=3D"Lauren Sherman" src=3D"ht=
tps://userimg-assets.customeriomail.com/images/client-env-107382/1739207841=
687_avatar-lauren-update-2025-02-10_01JKRDV5Y2EY00WYFGDQ9SJD4B.png" height=
=3D"auto" width=3D"48" align=3D"center" style=3D"display:block;height:auto;=
margin:0 auto;border:0;"/></a>
</td><td style=3D"font-family:'PuckSerifDisplay','Georgia';font-size:20px;f=
ont-weight:400;color:#d40000;vertical-align:middle;letter-spacing:normal;te=
xt-align:left;line-height:normal;"><a href=3D"https://email.puck.news/e/c/e=
yJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT05LQUdjZUpIb0VFU0k0dUdkWE81SDlGOD0iLCJo=
cmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvYXV0aG9yL2xhdXJlbi1zaGVybWFuLz91dG1fY2FtcGF=
pZ249SUMrRXhjbHVzaXZlK0xpbmUrU2hlZXQrLStJTk5FUitDSVJDTEUrJTI4MiUyRjE5JTJGMj=
YlMjlcdTAwMjZ1dG1fY29udGVudD1JQytFeGNsdXNpdmUrTGluZStTaGVldCstK0lOTkVSK0NJU=
kNMRSslMjgyJTJGMTklMkYyNiUyOVx1MDAyNnV0bV9tZWRpdW09ZW1haWxfYWN0aW9uXHUwMDI2=
dXRtX3NvdXJjZT1jdXN0b21lci5pb1x1MDAyNnV0bV90ZXJtPWY2YzYwNjE1ZTNkMzAxZDQ4ZDI=
4IiwiaW50ZXJuYWwiOiJmNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImxpbmtfaWQiOjQyODk2M30/50=
268d356256b69a1bd1fb72c597734dcf8bea93a27595c673253153fe91e240" target=3D"_=
self" title=3D"" style=3D"color:#d40000;text-decoration:none;">Lauren Sherm=
an</a>
</td></tr></tbody></table>
</td></tr></tbody></table>
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=
=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-b=
reak:break-word;"><tbody><tr><td style=3D"padding-bottom:32px;"><div style=
=3D"color:#000000;direction:ltr;font-family:'Inter','Arial';font-size:17px;=
font-weight:400;letter-spacing:0px;line-height:1.5;text-align:left;mso-line=
-height-alt:26px;"><p style=3D"margin:0;">Hello, and welcome back to Line S=
heet. Tonight: What in the world is going on at J.Crew? The mall brand
turned cool a few years ago, but a round of layoffs has many people in New =
York asking if the sales are as good as the hype. (This is why you <a href=
=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT05LQUd=
jZUpIb0VFU0k0dUdkWE81SDlGOD0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvaW5uZXItY2=
lyY2xlLz91dG1fY2FtcGFpZ249SUMrRXhjbHVzaXZlK0xpbmUrU2hlZXQrLStJTk5FUitDSVJDT=
EUrJTI4MiUyRjE5JTJGMjYlMjlcdTAwMjZ1dG1fY29udGVudD1JQytFeGNsdXNpdmUrTGluZStT=
aGVldCstK0lOTkVSK0NJUkNMRSslMjgyJTJGMTklMkYyNiUyOVx1MDAyNnV0bV9tZWRpdW09ZW1=
haWxfYWN0aW9uXHUwMDI2dXRtX3NvdXJjZT1jdXN0b21lci5pb1x1MDAyNnV0bV90ZXJtPWY2Yz=
YwNjE1ZTNkMzAxZDQ4ZDI4IiwiaW50ZXJuYWwiOiJmNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImxpb=
mtfaWQiOjIwNzIxNjR9/6ae1219cb77040cee561abbb5728f7fe03560a2cb0d70246ca1b14a=
f20fc7a61" style=3D"text-decoration:underline;color:#d40000;">upgrade</a> t=
o Puck=E2=80=99s Inner Circle, people.) Up top, a bit on Bode=E2=80=99s slo=
-mo strategy, the latest in <strong>Les Wexner</strong> news, and a quick n=
ote on all the model stuff in the <strong>Epstein</strong> files.<br/><br/>=
Tomorrow on <em>Fashion People</em>, my guests
are <strong>Elissa Santisi</strong> and <strong>Francesca Keller</strong>. =
Elissa is a famous (and famously cool) stylist, Francesca is an actress, pr=
oducer, and maker of hilarious <a href=3D"https://email.puck.news/e/c/eyJlb=
WFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT05LQUdjZUpIb0VFU0k0dUdkWE81SDlGOD0iLCJocmVm=
IjoiaHR0cHM6Ly93d3cudGlrdG9rLmNvbS9AYmFkZ2FsZnJhbmNlc2NhP3V0bV9jYW1wYWlnbj1=
JQytFeGNsdXNpdmUrTGluZStTaGVldCstK0lOTkVSK0NJUkNMRSslMjgyJTJGMTklMkYyNiUyOV=
x1MDAyNnV0bV9jb250ZW50PUlDK0V4Y2x1c2l2ZStMaW5lK1NoZWV0Ky0rSU5ORVIrQ0lSQ0xFK=
yUyODIlMkYxOSUyRjI2JTI5XHUwMDI2dXRtX21lZGl1bT1lbWFpbF9hY3Rpb25cdTAwMjZ1dG1f=
c291cmNlPWN1c3RvbWVyLmlvXHUwMDI2dXRtX3Rlcm09ZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJ=
pbnRlcm5hbCI6ImY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwibGlua19pZCI6MjU4ODU4Nn0/c41950=
3cd542fd18a0333d8c9ccc69884d0367a8fc903de7acf6f81dfc72034b" style=3D"text-d=
ecoration:underline;color:#d40000;">TikTok videos</a>, many of which star E=
lissa. We discuss Elissa=E2=80=99s life in fashion, Francesca=E2=80=99s exp=
erience of Elissa=E2=80=99s life in fashion, their shared fame, <strong>Pho=
ebe Philo</strong>, and so much more. (Requisite
reading: <strong>Alyssa Vingan</strong>=E2=80=99s <em>New York Times</em> <=
a href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdjZUpIb0VFU0k0dUdkWE81SDlGOD0iLCJocmVmIjoiaHR0cHM6Ly93d3cubnl0aW1lcy5j=
b20vMjAyNS8xMC8xOC9zdHlsZS90aWt0b2staW5mdWVuY2VyLXZvZ3VldHRlLmh0bWw_dXRtX2N=
hbXBhaWduPUlDK0V4Y2x1c2l2ZStMaW5lK1NoZWV0Ky0rSU5ORVIrQ0lSQ0xFKyUyODIlMkYxOS=
UyRjI2JTI5XHUwMDI2dXRtX2NvbnRlbnQ9SUMrRXhjbHVzaXZlK0xpbmUrU2hlZXQrLStJTk5FU=
itDSVJDTEUrJTI4MiUyRjE5JTJGMjYlMjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1=
MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ=
0OGQyOCIsImludGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjoyNDAwNT=
Q0fQ/459cee55e253565855c9f21034fc214868883d547b82dec7ba2d0206a3aa8bf2" styl=
e=3D"text-decoration:underline;color:#d40000;">piece</a> on the duo.) Liste=
n <a href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTk=
tOT05LQUdjZUpIb0VFU0k0dUdkWE81SDlGOD0iLCJocmVmIjoiaHR0cHM6Ly9vcGVuLnNwb3RpZ=
nkuY29tL3Nob3cvMFF6SlFiWG5nakNBTTFSU1pyZ0lkbj91dG1fY2FtcGFpZ249SUMrRXhjbHVz=
aXZlK0xpbmUrU2hlZXQrLStJTk5FUitDSVJDTEUrJTI4MiUyRjE5JTJGMjYlMjlcdTAwMjZ1dG1=
fY29udGVudD1JQytFeGNsdXNpdmUrTGluZStTaGVldCstK0lOTkVSK0NJUkNMRSslMjgyJTJGMT=
klMkYyNiUyOVx1MDAyNnV0bV9tZWRpdW09ZW1haWxfYWN0aW9uXHUwMDI2dXRtX3NvdXJjZT1jd=
XN0b21lci5pb1x1MDAyNnV0bV90ZXJtPWY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwiaW50ZXJuYWwi=
OiJmNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImxpbmtfaWQiOjg1MTMxOH0/3c3b6ba31ac482c2eeb=
8fc7691e2787a333c958ef91353142daa85c52f2d43c5" style=3D"text-decoration:und=
erline;color:#d40000;">here</a> and <a href=3D"https://email.puck.news/e/c/=
eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT05LQUdjZUpIb0VFU0k0dUdkWE81SDlGOD0iLCJ=
ocmVmIjoiaHR0cHM6Ly9wb2RjYXN0cy5hcHBsZS5jb20vdXMvcG9kY2FzdC9mYXNoaW9uLXBlb3=
BsZS9pZDE3NDE1ODkwODI_dXRtX2NhbXBhaWduPUlDK0V4Y2x1c2l2ZStMaW5lK1NoZWV0Ky0rS=
U5ORVIrQ0lSQ0xFKyUyODIlMkYxOSUyRjI2JTI5XHUwMDI2dXRtX2NvbnRlbnQ9SUMrRXhjbHVz=
aXZlK0xpbmUrU2hlZXQrLStJTk5FUitDSVJDTEUrJTI4MiUyRjE5JTJGMjYlMjlcdTAwMjZ1dG1=
fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG=
1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkN=
DhkMjgiLCJsaW5rX2lkIjo4NTEzMTZ9/bde5fac3373fe08276bbbb22481f6b84140917191c1=
9ed15b725b454034d8a8d" style=3D"text-decoration:underline;color:#d40000;">h=
ere</a>.</p></div>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
<table align=3D"center" width=3D"100%" border=3D"0" cellpadding=3D"0" cells=
pacing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-=
rspace:0pt;"><tbody><tr><td>
<table class=3D"c ie" align=3D"center" border=3D"0" cellpadding=3D"0" cells=
pacing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-=
rspace:0pt;background-color:#ffffff;color:#000000;border-radius:0;width:600=
px;margin:0 auto;" width=3D"600"><tbody><tr><td class=3D"yq o" width=3D"100=
%" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-=
align:left;border-bottom:1px solid #d40000;border-top:1px solid #d40000;pad=
ding-bottom:32px;padding-left:24px;padding-right:24px;padding-top:32px;
vertical-align:top;">
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=
=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-b=
reak:break-word;"><tbody><tr><td style=3D"padding-bottom:16px;"><div style=
=3D"color:#000000;direction:ltr;font-family:'Inter','Arial';font-size:17px;=
font-weight:400;letter-spacing:0px;line-height:1.2;text-align:left;mso-line=
-height-alt:20px;"><p style=3D"margin:0;">A MESSAGE FROM OUR SPONSOR</p></d=
iv>
</td></tr></tbody></table>
<table class=3D"j n5" width=3D"100%" border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rs=
pace:0pt;"><tbody><tr><td style=3D"padding-bottom:16px;width:100%;"><div al=
ign=3D"center"><div style=3D"max-width:552px;"><a href=3D"https://email.puc=
k.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT05LQUdjZUpIb0VFU0k0dUdkWE81=
SDlGOD0iLCJocmVmIjoiaHR0cHM6Ly9jaW5xYXNlcHQubnljLz91dG1fY2FtcGFpZ249SUMrRXh=
jbHVzaXZlK0xpbmUrU2hlZXQrLStJTk5FUitDSVJDTEUrJTI4MiUyRjE5JTJGMjYlMjlcdTAwMj=
Z1dG1fY29udGVudD1JQytFeGNsdXNpdmUrTGluZStTaGVldCstK0lOTkVSK0NJUkNMRSslMjgyJ=
TJGMTklMkYyNiUyOVx1MDAyNnV0bV9tZWRpdW09ZW1haWxfYWN0aW9uXHUwMDI2dXRtX3NvdXJj=
ZT1jdXN0b21lci5pb1x1MDAyNnV0bV90ZXJtPWY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwiaW50ZXJ=
uYWwiOiJmNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImxpbmtfaWQiOjI1ODE4MTF9/4027c7023b974=
e4dede78680bd1f3c049dba7af459ce5bee3509d9c97862e515" target=3D"_blank"><img=
 src=3D"https://userimg-assets.customeriomail.com/images/client-env-107382/=
1770672727096_cinq-a-sept_lead-image_desktop1_01KH25392KV9TPPT8WB2PCW52G.jp=
g" style=3D"display:block;height:auto;border:0;width:
100%;" width=3D"552" alt=3D"cinq =C3=A0 sept" title=3D"cinq =C3=A0 sept" he=
ight=3D"auto"/></a></div></div>
</td></tr></tbody></table>
<table class=3D"j p n" width=3D"100%" border=3D"0" cellpadding=3D"0" cellsp=
acing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-r=
space:0pt;mso-hide:all;display:none;max-height:0;overflow:hidden;"><tbody><=
tr><td style=3D"padding-bottom:16px;width:100%;"><div align=3D"center"><div=
 style=3D"max-width:552px;"><a href=3D"https://email.puck.news/e/c/eyJlbWFp=
bF9pZCI6ImRnVDJ4Z1lEQU5TTktOT05LQUdjZUpIb0VFU0k0dUdkWE81SDlGOD0iLCJocmVmIjo=
iaHR0cHM6Ly9jaW5xYXNlcHQubnljLz91dG1fY2FtcGFpZ249SUMrRXhjbHVzaXZlK0xpbmUrU2=
hlZXQrLStJTk5FUitDSVJDTEUrJTI4MiUyRjE5JTJGMjYlMjlcdTAwMjZ1dG1fY29udGVudD1JQ=
ytFeGNsdXNpdmUrTGluZStTaGVldCstK0lOTkVSK0NJUkNMRSslMjgyJTJGMTklMkYyNiUyOVx1=
MDAyNnV0bV9tZWRpdW09ZW1haWxfYWN0aW9uXHUwMDI2dXRtX3NvdXJjZT1jdXN0b21lci5pb1x=
1MDAyNnV0bV90ZXJtPWY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwiaW50ZXJuYWwiOiJmNmM2MDYxNW=
UzZDMwMWQ0OGQyOCIsImxpbmtfaWQiOjI1ODE4MTF9/4027c7023b974e4dede78680bd1f3c04=
9dba7af459ce5bee3509d9c97862e515" target=3D"_blank"><img src=3D"https://use=
rimg-assets.customeriomail.com/images/client-env-107382/1770672728343_cinq-=
a-sept_lead-image_mobile1_01KH253A9J38J1QBMSJ6G9ABGW.jpg" style=3D"display:=
block;height:auto;border:0;width:100%;" width=3D"552" alt=3D"cinq =C3=A0 se=
pt" title=3D"cinq =C3=A0 sept" height=3D"auto"/></a></div></div>
</td></tr></tbody></table>
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=
=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-b=
reak:break-word;"><tbody><tr><td><div style=3D"color:#000000;direction:ltr;=
font-family:'Inter','Arial';font-size:17px;font-weight:400;letter-spacing:0=
px;line-height:1.2;text-align:center;mso-line-height-alt:20px;"><p style=3D=
"margin:0;margin-bottom:0px;">Sharing its name with the French term for the=
 liminal moment linking late afternoon and early evening, Cinq =C3=A0 Sept
brings the intriguing tension between day and night to an advanced contempo=
rary collection.</p><p style=3D"margin:0;margin-bottom:0px;">=C2=A0</p><p s=
tyle=3D"margin:0;">Inspired by the hours between 5 and 7 p.m., when city st=
reets are awash in the warm glow of the vanishing sun and office desks are =
abandoned for cocktails and as-yet unknown possibilities, Cinq =C3=A0 Sept =
embodies a deliberate balance between sophistication and ease, youthful dar=
ing, and confident allure.</p></div>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
<table align=3D"center" width=3D"100%" border=3D"0" cellpadding=3D"0" cells=
pacing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-=
rspace:0pt;"><tbody><tr><td>
<table class=3D"c ie" align=3D"center" border=3D"0" cellpadding=3D"0" cells=
pacing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-=
rspace:0pt;background-color:#ffffff;color:#000000;border-radius:0;width:600=
px;margin:0 auto;" width=3D"600"><tbody><tr><td class=3D"yq o" width=3D"100=
%" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-=
align:left;padding-left:24px;padding-right:24px;padding-top:32px;vertical-a=
lign:top;">
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=
=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-b=
reak:break-word;"><tbody><tr><td style=3D"padding-bottom:32px;"><div style=
=3D"color:#000000;direction:ltr;font-family:'Inter','Arial';font-size:17px;=
font-weight:400;letter-spacing:0px;line-height:1.5;text-align:left;mso-line=
-height-alt:26px;"><p style=3D"margin:0;"><em>Mentioned in this issue</em>:=
 J.Crew, <strong>Brendon Babenzien</strong>, <strong>Elodie David</strong>,
<strong>Pieter Mulier</strong>, New York Fashion Week, Yoyogi-Uehara, <stro=
ng>Phoebe Philo</strong>, Bode, <strong>Carolyn Bessette Kennedy</strong>, =
<strong>Wes Anderson</strong>, <strong>Kevin Ulrich</strong>, Skims, Collin=
a Strada, Ralph Lauren, Eckhaus Latta, <strong>Benjamin Talley Smith</stron=
g>, Celine, <strong>Nikolai von Bismarck</strong>, The Row, Maryam Nassir Z=
adeh, Abercrombie &amp; Fitch, <strong>Emily Adams</strong>, and more=E2=80=
=A6</p></div>
</td></tr></tbody></table>
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=
=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbo=
dy><tr><td style=3D"padding-bottom:32px;"><div align=3D"center">
<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=3D"presentatio=
n" width=3D"30%" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbod=
y><tr><td style=3D"font-size:1px;line-height:1px;border-top:2px solid #d400=
00;"><span style=3D"word-break:break-word;">=E2=80=8A</span>
</td></tr></tbody></table></div>
</td></tr></tbody></table>
<table class=3D"g p" width=3D"100%" border=3D"0" cellpadding=3D"0" cellspac=
ing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rsp=
ace:0pt;"><tbody><tr><td style=3D"padding-bottom:32px;text-align:center;wid=
th:100%;"><h3 style=3D"margin:0;color:#000000;direction:ltr;font-family:'Pu=
ckSerifDisplay','Georgia';font-size:24px;font-weight:400;letter-spacing:nor=
mal;line-height:1.2;text-align:center;margin-top:0;margin-bottom:0;mso-line=
-height-alt:29px;">Three Things You Should Know=E2=80=A6</h3>
</td></tr></tbody></table>
<table class=3D"q" width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacin=
g=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rspac=
e:0pt;word-break:break-word;color:#000000;direction:ltr;font-family:'Inter'=
,'Arial';font-size:17px;font-weight:400;letter-spacing:0px;line-height:1.5;=
text-align:left;mso-line-height-alt:26px;"><tbody><tr><td style=3D"padding-=
bottom:0px;"><div style=3D"margin-left:-20px"><ul style=3D"margin-top:0;mar=
gin-bottom:0;list-style-type:revert;"><li style=3D"Margin:0 0 24px 0;"><em>=
Les=E2=80=99s
(second-to-last?) stand</em>: Les Wexner, the pioneering retail executive w=
ho turned Victoria=E2=80=99s Secret, Bath &amp; Body Works, and Abercrombie=
 &amp; Fitch into icons of consumer culture, testified in front of members =
of the House Oversight Committee regarding his relationship with Jeffrey Ep=
stein on Wednesday. A video of the closed-door deposition, which took place=
 at Wexner=E2=80=99s home in New Albany, Ohio, a town he developed himself,=
 is
<a href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktO=
T05LQUdjZUpIb0VFU0k0dUdkWE81SDlGOD0iLCJocmVmIjoiaHR0cHM6Ly93d3cueW91dHViZS5=
jb20vd2F0Y2g_dj12eXNZaEhsc0k0OFx1MDAyNnV0bV9jYW1wYWlnbj1JQytFeGNsdXNpdmUrTG=
luZStTaGVldCstK0lOTkVSK0NJUkNMRSslMjgyJTJGMTklMkYyNiUyOVx1MDAyNnV0bV9jb250Z=
W50PUlDK0V4Y2x1c2l2ZStMaW5lK1NoZWV0Ky0rSU5ORVIrQ0lSQ0xFKyUyODIlMkYxOSUyRjI2=
JTI5XHUwMDI2dXRtX21lZGl1bT1lbWFpbF9hY3Rpb25cdTAwMjZ1dG1fc291cmNlPWN1c3RvbWV=
yLmlvXHUwMDI2dXRtX3Rlcm09ZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY2Yz=
YwNjE1ZTNkMzAxZDQ4ZDI4IiwibGlua19pZCI6MjU4ODU4N30/6e43a0c5ced22928945010992=
439cfebe1bce78ef88938dfcd8b02a959f09a69" style=3D"text-decoration:underline=
;color:#d40000;">available</a> on the G.O.P. Oversight Committee=E2=80=99s =
YouTube channel, despite the fact that they originally said it would be mad=
e available via transcript only. The most revealing bit, from what I have h=
ad time to review, is that Wexner denied ever meeting late Epstein accuser =
<strong>Virginia Giuffre</strong>, who once said Wexner sexually abused her=
 (but eventually backtracked the
accusation).<br/><br/>Prior to the deposition, Wexner released a statement =
outlining his version of how he met Epstein and ended up working with him, =
and his testimony mimicked the note. =E2=80=9COver the years, I have been t=
he subject of outrageous untrue statements and hurtful rumor, innuendo, and=
 speculation,=E2=80=9D he wrote. =E2=80=9CLet me state from the start: I wa=
s na=C3=AFve, foolish, and gullible to put any trust in Jeffrey Epstein. He=
 was a con man. And while I was conned, I have done nothing wrong and have
nothing to hide.=E2=80=9D<br/><br/>Maybe so, but there=E2=80=99s no denying=
 that Wexner made Epstein very rich. In the statement, Wexner made no menti=
on of the =E2=80=9Cgang stuff=E2=80=9D that Epstein referred to in communic=
ations to Wexner, nor did he mention his sister, mother, ex-girlfriend, and=
 former business associates, all of whom Epstein called out in his notes to=
 Wexner as people he essentially <em>dealt with</em> for the executive. How=
ever, Wexner did say he vetted Epstein with Bear Stearns=E2=80=99 <strong>A=
ce
Greenberg</strong> and <strong>Jimmy Cayne</strong>. He also explained why =
he granted Epstein power of attorney=E2=80=94which has been one of the grea=
t mysteries of their relationship.<br/><br/>Early on, Wexner explained, Eps=
tein was simply a friend with benefits. =E2=80=9CEpstein offered me advice =
here and there while explaining that giving individual financial advice was=
 not his focus and refusing to accept compensation,=E2=80=9D Wexner wrote. =
=E2=80=9CHe said he was assisting me as a favor. Little did I realize that,=
 from the
very start, Epstein was conniving to gain my trust. As my financial resourc=
es and time demands continued to grow, I formally hired Epstein to manage m=
y personal finances. Because my public company and other duties required my=
 full attention, I provided Epstein with a power of attorney so he could ex=
ecute transactions quickly, without constantly requiring my signature.=E2=
=80=9D<br/><br/>As someone who wrote a
<a href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktO=
T05LQUdjZUpIb0VFU0k0dUdkWE81SDlGOD0iLCJocmVmIjoiaHR0cHM6Ly93d3cuYW1hem9uLmN=
vbS9TZWxsaW5nLVNleHktVW5zdG9wcGFibGUtSW5ldml0YWJsZS1Db21wbGljYXRlZC1lYm9vay=
9kcC9CMEI4NjRTMjMzP3V0bV9jYW1wYWlnbj1JQytFeGNsdXNpdmUrTGluZStTaGVldCstK0lOT=
kVSK0NJUkNMRSslMjgyJTJGMTklMkYyNiUyOVx1MDAyNnV0bV9jb250ZW50PUlDK0V4Y2x1c2l2=
ZStMaW5lK1NoZWV0Ky0rSU5ORVIrQ0lSQ0xFKyUyODIlMkYxOSUyRjI2JTI5XHUwMDI2dXRtX21=
lZGl1bT1lbWFpbF9hY3Rpb25cdTAwMjZ1dG1fc291cmNlPWN1c3RvbWVyLmlvXHUwMDI2dXRtX3=
Rlcm09ZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY2YzYwNjE1ZTNkMzAxZDQ4Z=
DI4IiwibGlua19pZCI6NzMzNTMyfQ/8258d58e5efc28c9f318936afbaac0cf4ef40a724567f=
a6c45e25ea35405f12c" style=3D"text-decoration:underline;color:#d40000;">boo=
k</a> about Wexner=E2=80=94a shy man who lacked confidence in his body when=
 he was young=E2=80=94this tracked for me. What makes less sense is how Wex=
ner could have worked so intimately with someone for 20 years and known not=
hing about his illegal activities.<br/><br/>After the testimony, a spokespe=
rson for Wexner said that he =E2=80=9Chonestly answered every question
put to him today by the committee,=E2=80=9D and that =E2=80=9CMr. Wexner re=
iterated that he has no knowledge of, and did not participate in, Epstein=
=E2=80=99s illegal conduct.=E2=80=9D He answered so honestly, it seems, tha=
t at one point during the deposition his lawyer leaned over to him and <a h=
ref=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT05L=
QUdjZUpIb0VFU0k0dUdkWE81SDlGOD0iLCJocmVmIjoiaHR0cHM6Ly94LmNvbS9yZWVzZWpnb3J=
tYW4vc3RhdHVzLzIwMjQ1OTEyNDE3ODI5Mzk4MjU_dXRtX2NhbXBhaWduPUlDK0V4Y2x1c2l2ZS=
tMaW5lK1NoZWV0Ky0rSU5ORVIrQ0lSQ0xFKyUyODIlMkYxOSUyRjI2JTI5XHUwMDI2dXRtX2Nvb=
nRlbnQ9SUMrRXhjbHVzaXZlK0xpbmUrU2hlZXQrLStJTk5FUitDSVJDTEUrJTI4MiUyRjE5JTJG=
MjYlMjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9=
tZXIuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZj=
ZjNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjoyNTg4NTg4fQ/23591ec7fb3e8eeb18940e=
236426ceac95fe9ba407a54d3b8b4d81ebb95f5d4a" style=3D"text-decoration:underl=
ine;color:#d40000;">whispered</a>, =E2=80=9CI=E2=80=99ll fucking kill you i=
f you answer another question with more than five words, okay?=E2=80=9D<br/=
><br/>This may not be
the last time the 88-year-old Wexner takes the stand: He=E2=80=99s also bee=
n called to testify in a case involving a former Ohio State University doct=
or accused of rape by students over the span of 30 years. Wexner was on the=
 school=E2=80=99s board of directors during much of that period. More to co=
me, I=E2=80=99m sure.</li><li style=3D"Margin:0 0 24px 0;"><em>The modelize=
rs</em>: One of the most interesting details about the Epstein files, at le=
ast to me, is how few big fashion industry power players were mentioned.
There are reasons for this. Epstein mostly advised wealthy people in the U.=
S., and most major fashion execs are European. Also, luxury fashion only be=
came a truly giant, global business in the mid-2000s, around the time of Ep=
stein=E2=80=99s first prosecution. Finally, as <strong>Peter Hamby</strong>=
 pointed out on Friday=E2=80=99s episode of <em>The Powers That Be</em>, a =
lot of the guys engaging with Epstein and <strong>Ghislaine Maxwell </stron=
g>were massive dorks. And while not every executive in fashion is
smart, they tend to be able to hold a conversation.<br/><br/>Anyway, the on=
e fashion-adjacent subset in the files is modeling agents, and our ace rese=
archer <strong>Maya Tribbitt </strong>recently combed the documents to figu=
re out the scope of the role that the modeling industry played in facilitat=
ing Epstein=E2=80=99s behavior. (As readers may remember, he often posed as=
 a model recruiter for Victoria=E2=80=99s Secret.) Obviously, the late Fren=
ch model scout<strong> Jean-Luc Brunel</strong> was at the center of
the correspondence between Epstein and the modeling world, with more than 4=
,000 mentions in the documents including duplicates. But there was also Mod=
el Management founder <strong>Faith Kates</strong>, who =E2=80=9Cretired=E2=
=80=9D from the agency in December (another 4,000 mentions). Meanwhile, hun=
dreds of other emails show Epstein procuring models from scouting agents (l=
ike <strong>Daniel Siad</strong>) all over the world for unclear purposes.<=
br/><br/>We all know that modeling has historically
been, by and large, an exploitative industry. But the Epstein files undersc=
ore why more reform is still necessary. I reached out to Kates regarding he=
r relationship with Epstein but have yet to hear back. As for Siad, he told=
 a French television station that Epstein =E2=80=9Ctook advantage of my tru=
st. He=E2=80=99s a gentleman, he knows how to talk, he=E2=80=99s a diplomat=
=2E I wasn=E2=80=99t in a position to kn=
ow that this man was dangerous.=E2=80=
=9D</li><li style=3D"Margin:0 0 24px 0;"><em>The Bode way</em>: I remember =
a Bode show
during Paris Men=E2=80=99s Fashion Week several years ago where the models =
walked so slowly I couldn=E2=80=99t even pay attention to the clothes. It w=
as annoying, but also fitting for <strong>Emily Adams</strong>=E2=80=99s br=
and, which <em>likes</em> to move slowly=E2=80=94and that is, runway shows =
aside, a good thing. She stages fashion shows and opens stores when she wan=
ts to. This week, for instance, she debuted an outpost on the ground floor =
of an apartment building in Tokyo=E2=80=99s Yoyogi-Uehara neighborhood. Nat=
urally, it was
designed by Green River Project, the interiors firm run by her husband and =
frequent collaborator, <strong>Aaron Aujla</strong>, who designs rooms fit =
for a <strong>Wes Anderson </strong>film. (I=E2=80=99m sure he would bristl=
e at that description faster than you can say =E2=80=9C<em>Popeye </em>maga=
zine.=E2=80=9D)</li></ul></div>
</td></tr></tbody></table>
<table class=3D"j" width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacin=
g=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rspac=
e:0pt;"><tbody><tr><td style=3D"padding-bottom:26px;width:100%;"><div align=
=3D"center"><div style=3D"max-width:552px;"><img src=3D"https://userimg-ass=
ets.customeriomail.com/images/client-env-107382/1771531944316_bode%20tokyo_=
01KHVRGGJ1BEZK1JQV4BD8MQ55.jpg" style=3D"display:block;height:auto;border:0=
;width:100%;" width=3D"552" alt=3D"bode tokyo" title=3D"bode tokyo" height=
=3D"auto"/>
</div></div>
</td></tr></tbody></table>
<table class=3D"q" width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacin=
g=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rspac=
e:0pt;word-break:break-word;color:#000000;direction:ltr;font-family:'Inter'=
,'Arial';font-size:17px;font-weight:400;letter-spacing:0px;line-height:1.5;=
text-align:left;mso-line-height-alt:26px;"><tbody><tr><td style=3D"padding-=
bottom:8px;"><div style=3D"margin-left:-20px"><ul style=3D"margin-top:0;mar=
gin-bottom:0;list-style-type:none;"><li style=3D"Margin:0 0 24px 0;">Bode
undoubtedly scored some funding to fuel this retail expansion=E2=80=94there=
 are stores in New York, Los Angeles, and now Tokyo=E2=80=94but it also doe=
sn=E2=80=99t feel rushed. Rather, the beginning of a 20-year path to someth=
ing bigger, akin to what The Row achieved over the same span, but without r=
elying so much on the wholesale market. Also, Bode is a lifestyle brand, wh=
ich means the potential for growth is far larger than a fashion pure play: =
homegoods, hotels, etcetera. If you want to anoint someone heir apparent
to Ralph Lauren, it=E2=80=99s no doubt Bode. Don=E2=80=99t ask me about rev=
enue numbers for at least five years.</li></ul></div>
</td></tr></tbody></table>
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=
=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-b=
reak:break-word;"><tbody><tr><td style=3D"padding-bottom:32px;"><div style=
=3D"color:#000000;direction:ltr;font-family:'Inter','Arial';font-size:17px;=
font-weight:400;letter-spacing:0px;line-height:1.5;text-align:left;mso-line=
-height-alt:26px;"><p style=3D"margin:0;"><em>And now on to the main event<=
/em>=E2=80=A6</p></div>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
<table class=3D"w" align=3D"center" width=3D"100%" border=3D"0" cellpadding=
=3D"0" cellspacing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0p=
t;mso-table-rspace:0pt;"><tbody><tr><td>
<table class=3D"c ie" align=3D"center" border=3D"0" cellpadding=3D"0" cells=
pacing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-=
rspace:0pt;background-color:#ffffff;color:#000000;border-radius:0;width:600=
px;margin:0 auto;" width=3D"600"><tbody><tr><td class=3D"yq o" width=3D"100=
%" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-=
align:left;padding-bottom:12px;vertical-align:top;border-radius:0px;">
<table class=3D"j" width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacin=
g=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rspac=
e:0pt;"><tbody><tr><td style=3D"width:100%;"><div align=3D"center"><div sty=
le=3D"max-width:600px;"><a href=3D"https://email.puck.news/e/c/eyJlbWFpbF9p=
ZCI6ImRnVDJ4Z1lEQU5TTktOT05LQUdjZUpIb0VFU0k0dUdkWE81SDlGOD0iLCJocmVmIjoiaHR=
0cHM6Ly9wdWNrLm5ld3Mvai1jcmV3LWlzLWNvb2wtYWdhaW4tYnV0LWlzLWl0LXNlbGxpbmcvP3=
V0bV9jYW1wYWlnbj1JQytFeGNsdXNpdmUrTGluZStTaGVldCstK0lOTkVSK0NJUkNMRSslMjgyJ=
TJGMTklMkYyNiUyOVx1MDAyNnV0bV9jb250ZW50PUlDK0V4Y2x1c2l2ZStMaW5lK1NoZWV0Ky0r=
SU5ORVIrQ0lSQ0xFKyUyODIlMkYxOSUyRjI2JTI5XHUwMDI2dXRtX21lZGl1bT1lbWFpbF9hY3R=
pb25cdTAwMjZ1dG1fc291cmNlPWN1c3RvbWVyLmlvXHUwMDI2dXRtX3Rlcm09ZjZjNjA2MTVlM2=
QzMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwibGlua19pZCI6M=
jU4ODU4OX0/75fbf95a6d9a469928edbcd84561d09fe1d1657ac1ea81f5049f33911a822f11=
" target=3D"_blank"><img src=3D"https://userimg-assets.customeriomail.com/i=
mages/client-env-107382/1771545440280_jcrew_01KHW5CC4EMH2FBCA7VS0PP2DV.jpg"=
 style=3D"display:block;height:auto;border:0;width:100%;" width=3D"600" alt=
=3D"J. Crew Cuts" title=3D"J. Crew Cuts" height=3D"auto"/></a></div></div>
</td></tr></tbody></table>
<table class=3D"j" width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacin=
g=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rspac=
e:0pt;"><tbody><tr><td style=3D"padding-bottom:8px;padding-left:24px;paddin=
g-right:24px;padding-top:24px;width:100%;"><div align=3D"left"><div style=
=3D"max-width:142px;"><img src=3D"https://userimg-assets.customeriomail.com=
/images/client-env-107382/1735839782111_ice-badge_01JGM1T57TV42CK4RX9AZ2QJ1=
N.png" style=3D"display:block;height:auto;border:0;width:100%;" width=3D"14=
2" alt=3D"Inner Circle Exclusive" title=3D"Inner Circle Exclusive" height=
=3D"auto"/></div></div>
</td></tr></tbody></table>
<table class=3D"g p" width=3D"100%" border=3D"0" cellpadding=3D"0" cellspac=
ing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rsp=
ace:0pt;"><tbody><tr><td style=3D"padding-bottom:16px;padding-left:24px;pad=
ding-right:24px;text-align:center;width:100%;"><h1 style=3D"margin:0;color:=
#000000;direction:ltr;font-family:'PuckSerifDisplay','Georgia';font-size:48=
px;font-weight:400;letter-spacing:normal;line-height:1.2;text-align:left;ma=
rgin-top:0;margin-bottom:0;mso-line-height-alt:58px;"><a href=3D"https://em=
ail.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT05LQUdjZUpIb0VFU0k0d=
UdkWE81SDlGOD0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvai1jcmV3LWlzLWNvb2wtYWdh=
aW4tYnV0LWlzLWl0LXNlbGxpbmcvP3V0bV9jYW1wYWlnbj1JQytFeGNsdXNpdmUrTGluZStTaGV=
ldCstK0lOTkVSK0NJUkNMRSslMjgyJTJGMTklMkYyNiUyOVx1MDAyNnV0bV9jb250ZW50PUlDK0=
V4Y2x1c2l2ZStMaW5lK1NoZWV0Ky0rSU5ORVIrQ0lSQ0xFKyUyODIlMkYxOSUyRjI2JTI5XHUwM=
DI2dXRtX21lZGl1bT1lbWFpbF9hY3Rpb25cdTAwMjZ1dG1fc291cmNlPWN1c3RvbWVyLmlvXHUw=
MDI2dXRtX3Rlcm09ZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY2YzYwNjE1ZTN=
kMzAxZDQ4ZDI4IiwibGlua19pZCI6MjU4ODU4OX0/75fbf95a6d9a469928edbcd84561d09fe1=
d1657ac1ea81f5049f33911a822f11" target=3D"_blank" style=3D"text-decoration:=
none;color:#d40000;" data-mce-attribute-name-1=3D"" data-mce-attribute-valu=
e-1=3D"" data-mce-attributes-count=3D"1" rel=3D"noopener"><span style=3D"wo=
rd-break:break-word;position:relative;" data-position=3D"70-0-2" data-qa=3D=
"tinyeditor-root-element" data-lt-tmp-id=3D"lt-994813" data-gramm=3D"false"=
 data-lpop-hide-native-caret=3D"">J.Crew Cuts</span></a></h1>
</td></tr></tbody></table>
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=
=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-b=
reak:break-word;"><tbody><tr><td style=3D"padding-left:24px;padding-right:2=
4px;"><div style=3D"color:#000000;direction:ltr;font-family:'Inter','Arial'=
;font-size:19px;font-weight:400;letter-spacing:0px;line-height:1.5;text-ali=
gn:left;mso-line-height-alt:29px;"><p style=3D"margin:0;">Menswear designer=
 Brendon Babenzien=E2=80=99s exit at J.Crew is a signal that a recent stret=
ch of
buzz-building at everyone=E2=80=99s favorite mall brand is giving way to th=
e realities of retail at scale.</p></div>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
<table align=3D"center" width=3D"100%" border=3D"0" cellpadding=3D"0" cells=
pacing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-=
rspace:0pt;"><tbody><tr><td>
<table class=3D"c ie" align=3D"center" border=3D"0" cellpadding=3D"0" cells=
pacing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-=
rspace:0pt;background-color:#ffffff;color:#000000;border-radius:0;border-bo=
ttom:8px solid transparent;border-left:24px solid transparent;border-right:=
24px solid transparent;border-top:8px solid transparent;width:600px;margin:=
0 auto;" width=3D"600"><tbody><tr><td class=3D"yq o" width=3D"100%" style=
=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-align:
left;border-bottom:1px solid #d40000;border-top:1px solid #d40000;vertical-=
align:top;border-radius:0px;">
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=
=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;text-a=
lign:left;line-height:0;"><tbody><tr><td style=3D"vertical-align:middle;col=
or:#d40000;font-family:'PuckSerifDisplay','Georgia';font-size:20px;font-wei=
ght:400;padding-bottom:8px;padding-right:8px;padding-top:8px;text-align:lef=
t;">
<table class=3D"b" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;displ=
ay:inline-block;padding-left:0px;padding-right:0px;" cellpadding=3D"0" cell=
spacing=3D"0" role=3D"presentation"><tbody><tr><td style=3D"vertical-align:=
middle;text-align:center;padding-top:0px;padding-bottom:0px;padding-left:0p=
x;padding-right:0px;"><a href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZC=
I6ImRnVDJ4Z1lEQU5TTktOT05LQUdjZUpIb0VFU0k0dUdkWE81SDlGOD0iLCJocmVmIjoiaHR0c=
HM6Ly9wdWNrLm5ld3MvYXV0aG9yL2xhdXJlbi1zaGVybWFuLz91dG1fY2FtcGFpZ249SUMrRXhj=
bHVzaXZlK0xpbmUrU2hlZXQrLStJTk5FUitDSVJDTEUrJTI4MiUyRjE5JTJGMjYlMjlcdTAwMjZ=
1dG1fY29udGVudD1JQytFeGNsdXNpdmUrTGluZStTaGVldCstK0lOTkVSK0NJUkNMRSslMjgyJT=
JGMTklMkYyNiUyOVx1MDAyNnV0bV9tZWRpdW09ZW1haWxfYWN0aW9uXHUwMDI2dXRtX3NvdXJjZ=
T1jdXN0b21lci5pb1x1MDAyNnV0bV90ZXJtPWY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwiaW50ZXJu=
YWwiOiJmNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImxpbmtfaWQiOjQyODk2M30/50268d356256b69=
a1bd1fb72c597734dcf8bea93a27595c673253153fe91e240" target=3D"_self" title=
=3D"" style=3D"text-decoration:none;"><img alt=3D"Lauren Sherman" src=3D"ht=
tps://userimg-assets.customeriomail.com/images/client-env-107382/1739207841=
687_avatar-lauren-update-2025-02-10_01JKRDV5Y2EY00WYFGDQ9SJD4B.png" height=
=3D"auto" width=3D"48" align=3D"center" style=3D"display:block;height:auto;=
margin:0 auto;border:0;"/></a>
</td><td style=3D"font-family:'PuckSerifDisplay','Georgia';font-size:20px;f=
ont-weight:400;color:#d40000;vertical-align:middle;letter-spacing:normal;te=
xt-align:left;line-height:normal;"><a href=3D"https://email.puck.news/e/c/e=
yJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT05LQUdjZUpIb0VFU0k0dUdkWE81SDlGOD0iLCJo=
cmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvYXV0aG9yL2xhdXJlbi1zaGVybWFuLz91dG1fY2FtcGF=
pZ249SUMrRXhjbHVzaXZlK0xpbmUrU2hlZXQrLStJTk5FUitDSVJDTEUrJTI4MiUyRjE5JTJGMj=
YlMjlcdTAwMjZ1dG1fY29udGVudD1JQytFeGNsdXNpdmUrTGluZStTaGVldCstK0lOTkVSK0NJU=
kNMRSslMjgyJTJGMTklMkYyNiUyOVx1MDAyNnV0bV9tZWRpdW09ZW1haWxfYWN0aW9uXHUwMDI2=
dXRtX3NvdXJjZT1jdXN0b21lci5pb1x1MDAyNnV0bV90ZXJtPWY2YzYwNjE1ZTNkMzAxZDQ4ZDI=
4IiwiaW50ZXJuYWwiOiJmNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImxpbmtfaWQiOjQyODk2M30/50=
268d356256b69a1bd1fb72c597734dcf8bea93a27595c673253153fe91e240" target=3D"_=
self" title=3D"" style=3D"color:#d40000;text-decoration:none;">Lauren Sherm=
an</a>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
<table align=3D"center" width=3D"100%" border=3D"0" cellpadding=3D"0" cells=
pacing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-=
rspace:0pt;"><tbody><tr><td>
<table class=3D"c ie" align=3D"center" border=3D"0" cellpadding=3D"0" cells=
pacing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-=
rspace:0pt;background-color:#ffffff;color:#000000;border-radius:0;width:600=
px;margin:0 auto;" width=3D"600"><tbody><tr><td class=3D"yq o" width=3D"100=
%" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-=
align:left;padding-left:24px;padding-right:24px;padding-top:16px;vertical-a=
lign:top;">
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=
=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-b=
reak:break-word;"><tbody><tr><td style=3D"padding-bottom:32px;"><div style=
=3D"color:#000000;direction:ltr;font-family:'Inter','Arial';font-size:17px;=
font-weight:400;letter-spacing:0px;line-height:1.5;text-align:left;mso-line=
-height-alt:26px;"><p style=3D"margin:0;">During New York Fashion Week, the=
 team at J.Crew once again managed to hold the conversation while steering
clear of a runway. At the Olney Gleason gallery on Tuesday night, the priva=
tely owned brand celebrated the =E2=80=9Crollneck remix,=E2=80=9D a collect=
ion of limited-edition jumpers rendered in the style of that straight-out-o=
f-<em>Singles</em> =E2=80=9990s cotton knit, by various indie labels=E2=80=
=94from Collina Strada to Eckhaus Latta. Several versions sold out almost i=
mmediately, just in time for the start of the shows, where creative directo=
r <strong>Olympia Gayot</strong> was a front-row fixture in her perfect Lee
jeans.</p>
</div>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
<table align=3D"center" width=3D"100%" border=3D"0" cellpadding=3D"0" cells=
pacing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-=
rspace:0pt;"><tbody><tr><td>
<table class=3D"c ie" align=3D"center" border=3D"0" cellpadding=3D"0" cells=
pacing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-=
rspace:0pt;background-color:#ffffff;color:#000000;border-radius:0;width:600=
px;margin:0 auto;" width=3D"600"><tbody><tr><td class=3D"yq o" width=3D"100=
%" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-=
align:left;border-bottom:1px solid #d40000;border-top:1px solid #d40000;pad=
ding-bottom:32px;padding-left:24px;padding-right:24px;padding-top:32px;
vertical-align:top;">
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=
=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-b=
reak:break-word;"><tbody><tr><td style=3D"padding-bottom:16px;"><div style=
=3D"color:#000000;direction:ltr;font-family:'Inter','Arial';font-size:17px;=
font-weight:400;letter-spacing:0px;line-height:1.2;text-align:left;mso-line=
-height-alt:20px;"><p style=3D"margin:0;">A MESSAGE FROM OUR SPONSOR</p></d=
iv>
</td></tr></tbody></table>
<table class=3D"j n5" width=3D"100%" border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rs=
pace:0pt;"><tbody><tr><td style=3D"padding-bottom:16px;width:100%;"><div al=
ign=3D"center"><div style=3D"max-width:552px;"><a href=3D"https://email.puc=
k.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT05LQUdjZUpIb0VFU0k0dUdkWE81=
SDlGOD0iLCJocmVmIjoiaHR0cHM6Ly9jaW5xYXNlcHQubnljLz91dG1fY2FtcGFpZ249SUMrRXh=
jbHVzaXZlK0xpbmUrU2hlZXQrLStJTk5FUitDSVJDTEUrJTI4MiUyRjE5JTJGMjYlMjlcdTAwMj=
Z1dG1fY29udGVudD1JQytFeGNsdXNpdmUrTGluZStTaGVldCstK0lOTkVSK0NJUkNMRSslMjgyJ=
TJGMTklMkYyNiUyOVx1MDAyNnV0bV9tZWRpdW09ZW1haWxfYWN0aW9uXHUwMDI2dXRtX3NvdXJj=
ZT1jdXN0b21lci5pb1x1MDAyNnV0bV90ZXJtPWY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwiaW50ZXJ=
uYWwiOiJmNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImxpbmtfaWQiOjI1ODE4MTF9/4027c7023b974=
e4dede78680bd1f3c049dba7af459ce5bee3509d9c97862e515" target=3D"_blank"><img=
 src=3D"https://userimg-assets.customeriomail.com/images/client-env-107382/=
1770672725705_cinq-a-sept_second-image_desktop2_01KH2537TVCXDFF55E5404Y0HK.=
jpg" style=3D"display:block;height:auto;border:0;width:
100%;" width=3D"552" alt=3D"cinq =C3=A0 sept" title=3D"cinq =C3=A0 sept" he=
ight=3D"auto"/></a></div></div>
</td></tr></tbody></table>
<table class=3D"j p n" width=3D"100%" border=3D"0" cellpadding=3D"0" cellsp=
acing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-r=
space:0pt;mso-hide:all;display:none;max-height:0;overflow:hidden;"><tbody><=
tr><td style=3D"padding-bottom:16px;width:100%;"><div align=3D"center"><div=
 style=3D"max-width:552px;"><a href=3D"https://email.puck.news/e/c/eyJlbWFp=
bF9pZCI6ImRnVDJ4Z1lEQU5TTktOT05LQUdjZUpIb0VFU0k0dUdkWE81SDlGOD0iLCJocmVmIjo=
iaHR0cHM6Ly9jaW5xYXNlcHQubnljLz91dG1fY2FtcGFpZ249SUMrRXhjbHVzaXZlK0xpbmUrU2=
hlZXQrLStJTk5FUitDSVJDTEUrJTI4MiUyRjE5JTJGMjYlMjlcdTAwMjZ1dG1fY29udGVudD1JQ=
ytFeGNsdXNpdmUrTGluZStTaGVldCstK0lOTkVSK0NJUkNMRSslMjgyJTJGMTklMkYyNiUyOVx1=
MDAyNnV0bV9tZWRpdW09ZW1haWxfYWN0aW9uXHUwMDI2dXRtX3NvdXJjZT1jdXN0b21lci5pb1x=
1MDAyNnV0bV90ZXJtPWY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwiaW50ZXJuYWwiOiJmNmM2MDYxNW=
UzZDMwMWQ0OGQyOCIsImxpbmtfaWQiOjI1ODE4MTF9/4027c7023b974e4dede78680bd1f3c04=
9dba7af459ce5bee3509d9c97862e515" target=3D"_blank"><img src=3D"https://use=
rimg-assets.customeriomail.com/images/client-env-107382/1770672726814_cinq-=
a-sept_second-image_mobile2_01KH2538SSEVA44T9EBCD312RZ.jpg" style=3D"displa=
y:block;height:auto;border:0;width:100%;" width=3D"552" alt=3D"cinq =C3=A0 =
sept" title=3D"cinq =C3=A0 sept" height=3D"auto"/></a></div></div>
</td></tr></tbody></table>
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=
=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-b=
reak:break-word;"><tbody><tr><td><div style=3D"color:#000000;direction:ltr;=
font-family:'Inter','Arial';font-size:17px;font-weight:400;letter-spacing:0=
px;line-height:1.2;text-align:center;mso-line-height-alt:20px;"><p style=3D=
"margin:0;margin-bottom:0px;">Sharing its name with the French term for the=
 liminal moment linking late afternoon and early evening, Cinq =C3=A0 Sept
brings the intriguing tension between day and night to an advanced contempo=
rary collection.</p><p style=3D"margin:0;margin-bottom:0px;">=C2=A0</p><p s=
tyle=3D"margin:0;">Inspired by the hours between 5 and 7 p.m., when city st=
reets are awash in the warm glow of the vanishing sun and office desks are =
abandoned for cocktails and as-yet unknown possibilities, Cinq =C3=A0 Sept =
embodies a deliberate balance between sophistication and ease, youthful dar=
ing, and confident allure.</p></div>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
<table align=3D"center" width=3D"100%" border=3D"0" cellpadding=3D"0" cells=
pacing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-=
rspace:0pt;"><tbody><tr><td>
<table class=3D"c ie" align=3D"center" border=3D"0" cellpadding=3D"0" cells=
pacing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-=
rspace:0pt;background-color:#ffffff;color:#000000;border-radius:0;width:600=
px;margin:0 auto;" width=3D"600"><tbody><tr><td class=3D"yq o" width=3D"100=
%" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-=
align:left;padding-left:24px;padding-right:24px;padding-top:32px;vertical-a=
lign:top;">
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=
=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-b=
reak:break-word;"><tbody><tr><td style=3D"padding-bottom:32px;"><div style=
=3D"color:#000000;direction:ltr;font-family:'Inter','Arial';font-size:17px;=
font-weight:400;letter-spacing:0px;line-height:1.5;text-align:left;mso-line=
-height-alt:26px;"><p style=3D"margin:0;">Gayot, a former stylist who got a=
n early start at the well-loved denim label Earnest Sewn, has been the
not-so-secret weapon in the recent J.Crew renaissance. Guided by C.E.O. <st=
rong>Libby Wadle</strong>=E2=80=94a <strong>Mickey Drexler</strong> discipl=
e who survived several failed C.E.O.s before convincing the board that she =
could run the thing herself=E2=80=94J.Crew has managed to become the =E2=80=
=9Ccool=E2=80=9D mall brand, employing tastemaking elites, such as Parisian=
 art director <strong>Franck Durand</strong> and the photographer <strong>S=
ean Thomas</strong>, and collaborating with niche, beloved labels including=
 Maryam
Nassir Zadeh, Alex Eagle, and Araks.<br/><br/>There=E2=80=99s plenty to lik=
e about this incarnation of J.Crew. It=E2=80=99s not like Gap or Old Navy, =
which don=E2=80=99t matter to fashion people beyond their historical releva=
nce. (See: the <a href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnV=
DJ4Z1lEQU5TTktOT05LQUdjZUpIb0VFU0k0dUdkWE81SDlGOD0iLCJocmVmIjoiaHR0cHM6Ly93=
d3cuaW5zdGFncmFtLmNvbS9vbGRnYXBfLz9obD1lblx1MDAyNnV0bV9jYW1wYWlnbj1JQytFeGN=
sdXNpdmUrTGluZStTaGVldCstK0lOTkVSK0NJUkNMRSslMjgyJTJGMTklMkYyNiUyOVx1MDAyNn=
V0bV9jb250ZW50PUlDK0V4Y2x1c2l2ZStMaW5lK1NoZWV0Ky0rSU5ORVIrQ0lSQ0xFKyUyODIlM=
kYxOSUyRjI2JTI5XHUwMDI2dXRtX21lZGl1bT1lbWFpbF9hY3Rpb25cdTAwMjZ1dG1fc291cmNl=
PWN1c3RvbWVyLmlvXHUwMDI2dXRtX3Rlcm09ZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJpbnRlcm5=
hbCI6ImY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwibGlua19pZCI6MjU4ODU5MH0/4e965a18d80998=
a8da8ccf1e336ec937cdb31d5578dff690a45396884c39ad1a" style=3D"text-decoratio=
n:underline;color:#d40000;">Oldgap_</a> Instagram account.) The clothes are=
 simple and nuanced, the brand hires cool models, and the stuff doesn=E2=80=
=99t look tacky. But positive sentiment does not always equal positive
sales, <em>especially</em> in the low-margin game of mass retail, which is =
inevitably lousy with markdowns.=C2=A0 And despite an image overhaul led by=
 Wadle and Gayot=E2=80=94and, to a lesser extent, <a href=3D"https://email.=
puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT05LQUdjZUpIb0VFU0k0dUdkW=
E81SDlGOD0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvYS1qLWNyZXctZGVzaWduZXItZXhp=
dC1ncXMtZ2xvYmFsLXJlc2V0Lz91dG1fY2FtcGFpZ249SUMrRXhjbHVzaXZlK0xpbmUrU2hlZXQ=
rLStJTk5FUitDSVJDTEUrJTI4MiUyRjE5JTJGMjYlMjlcdTAwMjZ1dG1fY29udGVudD1JQytFeG=
NsdXNpdmUrTGluZStTaGVldCstK0lOTkVSK0NJUkNMRSslMjgyJTJGMTklMkYyNiUyOVx1MDAyN=
nV0bV9tZWRpdW09ZW1haWxfYWN0aW9uXHUwMDI2dXRtX3NvdXJjZT1jdXN0b21lci5pb1x1MDAy=
NnV0bV90ZXJtPWY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwiaW50ZXJuYWwiOiJmNmM2MDYxNWUzZDM=
wMWQ0OGQyOCIsImxpbmtfaWQiOjI1ODg1OTF9/23964d38aa68617e1945640433924942f8402=
e2380be1968fb28bd6093875487" style=3D"text-decoration:underline;color:#d400=
00;">outgoing</a> menswear designer <strong>Brendon Babenzien </strong>and =
board chair <strong>Kevin Ulrich</strong>=E2=80=94the company has not addre=
ssed the problem that plagues almost all mid-priced
brands in this market: It=E2=80=99s nearly impossible to make a profit with=
out considerable scale.<br/><br/>J.Crew stopped publicly reporting financia=
l results after restructuring its debt through a pandemic-era Chapter 11 ba=
nkruptcy filing, but revenue=E2=80=94which is approaching $3 billion across=
 J.Crew, Madewell, and J.Crew Factory, I=E2=80=99m told=E2=80=94is now heav=
ily weighted to the off-price channel, according to people with access to t=
he financial figures. A person close to senior management told me that off-=
price,
which the brand refers to as the =E2=80=9Cvalue=E2=80=9D channel, was perfo=
rming well. But this person also stipulated that this segment relies on a d=
ifferent customer than the full-price channel, where the team has worked ha=
rd for the past six years to reduce reliance on the markdown cycle.<br/><br=
/>Meanwhile, once fast-growing sister brand Madewell has collapsed after mi=
ssing the mark on loungewear during the pandemic, and a subsequently disast=
rous tenure with an unchic C.E.O. who didn=E2=80=99t understand how to make
the jeans look good. And while J.Crew=E2=80=99s men=E2=80=99s category is t=
he healthiest part of the parentco=E2=80=99s business, it=E2=80=99s still t=
iny compared to women=E2=80=99s=E2=80=94which has been described to me as =
=E2=80=9Ctanking.=E2=80=9D A source close to Wadle pushed back on that, say=
ing they are making the progress they expected in a tough women=E2=80=99s m=
arket. According to data provided to me by research firm Consumer Edge, sal=
es at J.Crew=E2=80=94across the full-line and off-price channels, in-store =
and online=E2=80=94were down every month for the past 12 months
ending in January, in some months by more than 10 percent. (Consumer Edge=
=E2=80=99s data was culled from 40 million U.S. credit cards.) This data, o=
f course, doesn=E2=80=99t account for <em>all </em>revenue taken in by J.Cr=
ew, and isn=E2=80=99t reflective of productivity or profitability. But it=
=E2=80=99s an indicator, nonetheless. <br/><br/>Anyway, was this all the pr=
etext for Babenzien=E2=80=99s sudden announcement, this past week, that he =
was exiting the business? Or why several employees on his team were let go =
in a round of
layoffs, which a source close to leadership described to me as minimal and =
a beginning-of-the-year house cleaning?</p></div>
</td></tr></tbody></table>
<table class=3D"g" width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacin=
g=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rspac=
e:0pt;"><tbody><tr><td style=3D"padding-bottom:32px;padding-left:24px;paddi=
ng-right:24px;text-align:center;width:100%;"><h3 style=3D"margin:0;color:#0=
00000;direction:ltr;font-family:'PuckSerifDisplay','Georgia';font-size:24px=
;font-weight:700;letter-spacing:normal;line-height:1.2;text-align:center;ma=
rgin-top:0;margin-bottom:0;mso-line-height-alt:29px;"><strong>A Madewell
Spinoff?</strong></h3>
</td></tr></tbody></table>
<table class=3D"p" width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacin=
g=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rspac=
e:0pt;word-break:break-word;"><tbody><tr><td style=3D"padding-bottom:32px;"=
><div style=3D"color:#000000;direction:ltr;font-family:'Inter','Arial';font=
-size:17px;font-weight:400;letter-spacing:0px;line-height:1.5;text-align:le=
ft;mso-line-height-alt:26px;"><p style=3D"margin:0;">The answer may be simp=
ler than expected. J.Crew, which has debt holders, needs to sell sooner
rather than later, even if they aren=E2=80=99t currently in discussions to =
do so. The brand missed a window a few years back, when revenue was up and =
buzz was intense, and it needs to thin out significantly to lure a buyer th=
is time around. In this strategy, it would make sense to merge the men=E2=
=80=99s and women=E2=80=99s brand identities=E2=80=94from the campaigns to =
the Instagram accounts. And, of course, it would be Gayot who would win out=
 in that competition.<br/><br/>Babenzien, who also runs, owns, and designs =
the label
Noah, was never a full-time employee, and spent what many viewed as minimal=
 time in the J.Crew offices. Certain employees also described his relations=
hip with still-new C.M.O. <strong>Julia Collier</strong>, who hailed from S=
kims, as tense=E2=80=94although I=E2=80=99m not sure it would have made a d=
ifference if they were besties. Collier was a big get for Wadle and the boa=
rd, and could easily be poached. Gayot was almost picked off last year afte=
r Banana Republic offered her a job. These two women will get
buyers to notice J.Crew while Wadle ensures that the finances are in order.=
 In the meantime, there was speculation this week that the group might turn=
 Madewell into a subbrand of J.Crew at some point.</p></div>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
<table align=3D"center" width=3D"100%" border=3D"0" cellpadding=3D"0" cells=
pacing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-=
rspace:0pt;"><tbody><tr><td>
<table class=3D"c ie" align=3D"center" border=3D"0" cellpadding=3D"0" cells=
pacing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-=
rspace:0pt;background-color:#ffffff;color:#000000;border-radius:0;width:600=
px;margin:0 auto;" width=3D"600"><tbody><tr><td class=3D"yq o" width=3D"100=
%" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-=
align:left;border-bottom:1px solid #d40000;border-top:1px solid #d40000;pad=
ding-bottom:17px;padding-left:24px;padding-right:24px;padding-top:32px;
vertical-align:top;">
<table class=3D"j n5" width=3D"100%" border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rs=
pace:0pt;"><tbody><tr><td style=3D"padding-bottom:16px;width:100%;"><div al=
ign=3D"center"><div style=3D"max-width:552px;"><a href=3D"https://email.puc=
k.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT05LQUdjZUpIb0VFU0k0dUdkWE81=
SDlGOD0iLCJocmVmIjoiaHR0cHM6Ly9jaW5xYXNlcHQubnljLz91dG1fY2FtcGFpZ249SUMrRXh=
jbHVzaXZlK0xpbmUrU2hlZXQrLStJTk5FUitDSVJDTEUrJTI4MiUyRjE5JTJGMjYlMjlcdTAwMj=
Z1dG1fY29udGVudD1JQytFeGNsdXNpdmUrTGluZStTaGVldCstK0lOTkVSK0NJUkNMRSslMjgyJ=
TJGMTklMkYyNiUyOVx1MDAyNnV0bV9tZWRpdW09ZW1haWxfYWN0aW9uXHUwMDI2dXRtX3NvdXJj=
ZT1jdXN0b21lci5pb1x1MDAyNnV0bV90ZXJtPWY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwiaW50ZXJ=
uYWwiOiJmNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImxpbmtfaWQiOjI1ODE4MTF9/4027c7023b974=
e4dede78680bd1f3c049dba7af459ce5bee3509d9c97862e515" target=3D"_blank"><img=
 src=3D"https://userimg-assets.customeriomail.com/images/client-env-107382/=
1770672726223_cinq-a-sept_last-image_desktop3_1_01KH253879HZWFN31P1TYGJPF1.=
jpg" style=3D"display:block;height:auto;border:0;width:
100%;" width=3D"552" alt=3D"cinq =C3=A0 sept" title=3D"cinq =C3=A0 sept" he=
ight=3D"auto"/></a></div></div>
</td></tr></tbody></table>
<table class=3D"j n" width=3D"100%" border=3D"0" cellpadding=3D"0" cellspac=
ing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rsp=
ace:0pt;mso-hide:all;display:none;max-height:0;overflow:hidden;"><tbody><tr=
><td style=3D"padding-bottom:16px;width:100%;"><div align=3D"center"><div s=
tyle=3D"max-width:552px;"><a href=3D"https://email.puck.news/e/c/eyJlbWFpbF=
9pZCI6ImRnVDJ4Z1lEQU5TTktOT05LQUdjZUpIb0VFU0k0dUdkWE81SDlGOD0iLCJocmVmIjoia=
HR0cHM6Ly9jaW5xYXNlcHQubnljLz91dG1fY2FtcGFpZ249SUMrRXhjbHVzaXZlK0xpbmUrU2hl=
ZXQrLStJTk5FUitDSVJDTEUrJTI4MiUyRjE5JTJGMjYlMjlcdTAwMjZ1dG1fY29udGVudD1JQyt=
FeGNsdXNpdmUrTGluZStTaGVldCstK0lOTkVSK0NJUkNMRSslMjgyJTJGMTklMkYyNiUyOVx1MD=
AyNnV0bV9tZWRpdW09ZW1haWxfYWN0aW9uXHUwMDI2dXRtX3NvdXJjZT1jdXN0b21lci5pb1x1M=
DAyNnV0bV90ZXJtPWY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwiaW50ZXJuYWwiOiJmNmM2MDYxNWUz=
ZDMwMWQ0OGQyOCIsImxpbmtfaWQiOjI1ODE4MTF9/4027c7023b974e4dede78680bd1f3c049d=
ba7af459ce5bee3509d9c97862e515" target=3D"_blank"><img src=3D"https://useri=
mg-assets.customeriomail.com/images/client-env-107382/1770672728066_cinq-a-=
sept_last-image_mobile3_01KH253A0Y9NYFSZ490711T04F.jpg" style=3D"display:bl=
ock;height:auto;border:0;width:100%;" width=3D"552" alt=3D"cinq =C3=A0 sept=
" title=3D"cinq =C3=A0 sept" height=3D"auto"/></a></div></div>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
<table align=3D"center" width=3D"100%" border=3D"0" cellpadding=3D"0" cells=
pacing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-=
rspace:0pt;"><tbody><tr><td>
<table class=3D"c ie" align=3D"center" border=3D"0" cellpadding=3D"0" cells=
pacing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-=
rspace:0pt;background-color:#ffffff;color:#000000;border-radius:0;width:600=
px;margin:0 auto;" width=3D"600"><tbody><tr><td class=3D"yq o" width=3D"100=
%" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-=
align:left;padding-left:24px;padding-right:24px;padding-top:32px;vertical-a=
lign:top;">
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=
=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-b=
reak:break-word;"><tbody><tr><td style=3D"padding-bottom:32px;"><div style=
=3D"color:#000000;direction:ltr;font-family:'Inter','Arial';font-size:17px;=
font-weight:400;letter-spacing:0px;line-height:1.5;text-align:left;mso-line=
-height-alt:26px;"><p style=3D"margin:0;">A capsule collection with the ube=
r-talented =E2=80=9Cdenim whisperer=E2=80=9D <strong>Benjamin Talley Smith =
</strong>is not
going save Madewell, but I=E2=80=99m told that folding Madewell in isn=E2=
=80=99t in the cards, either. Designer <strong>Steven Cateron</strong>, who=
 arrived at the tail end of former president <strong>Adrienne Lazarus</stro=
ng>=E2=80=99s tenure, is finally getting his footing, and the new product, =
which has yet to land in stores, is promising.<br/><br/>There aren=E2=80=99=
t many potential buyers for J.Crew, but the tighter Wadle makes it, the eas=
ier it=E2=80=99ll be to find one. And when that happens, don=E2=80=99t expe=
ct J.Crew to throw chic
parties at galleries in Chelsea. So you better grab your rollneck while the=
y=E2=80=99re still starry-eyed enough to create them.</p></div>
</td></tr></tbody></table>
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=
=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbo=
dy><tr><td style=3D"padding-bottom:32px;"><div align=3D"center">
<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=3D"presentatio=
n" width=3D"30%" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbod=
y><tr><td style=3D"font-size:1px;line-height:1px;border-top:2px solid #d400=
00;"><span style=3D"word-break:break-word;">=E2=80=8A</span>
</td></tr></tbody></table></div>
</td></tr></tbody></table>
<table class=3D"g p" width=3D"100%" border=3D"0" cellpadding=3D"0" cellspac=
ing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rsp=
ace:0pt;"><tbody><tr><td style=3D"padding-bottom:32px;padding-left:24px;pad=
ding-right:24px;text-align:center;width:100%;"><h3 style=3D"margin:0;color:=
#000000;direction:ltr;font-family:'PuckSerifDisplay','Georgia';font-size:24=
px;font-weight:400;letter-spacing:normal;line-height:1.2;text-align:center;=
margin-top:0;margin-bottom:0;mso-line-height-alt:29px;"><span style=3D"word=
-break:break-word;">What I=E2=80=99m Reading...</span></h3>
</td></tr></tbody></table>
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=
=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-b=
reak:break-word;"><tbody><tr><td style=3D"padding-bottom:32px;"><div style=
=3D"color:#000000;direction:ltr;font-family:'Inter','Arial';font-size:17px;=
font-weight:400;letter-spacing:0px;line-height:1.5;text-align:left;mso-line=
-height-alt:26px;"><p style=3D"margin:0;">My interest in advertising campai=
gns is heightened this season, perhaps because they showcase so many debut
collections, including <a href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZ=
CI6ImRnVDJ4Z1lEQU5TTktOT05LQUdjZUpIb0VFU0k0dUdkWE81SDlGOD0iLCJocmVmIjoiaHR0=
cHM6Ly93d3cuaW5zdGFncmFtLmNvbS9wL0RVMGRnbXRERlg3Lz9pbWdfaW5kZXg9MVx1MDAyNnV=
0bV9jYW1wYWlnbj1JQytFeGNsdXNpdmUrTGluZStTaGVldCstK0lOTkVSK0NJUkNMRSslMjgyJT=
JGMTklMkYyNiUyOVx1MDAyNnV0bV9jb250ZW50PUlDK0V4Y2x1c2l2ZStMaW5lK1NoZWV0Ky0rS=
U5ORVIrQ0lSQ0xFKyUyODIlMkYxOSUyRjI2JTI5XHUwMDI2dXRtX21lZGl1bT1lbWFpbF9hY3Rp=
b25cdTAwMjZ1dG1fc291cmNlPWN1c3RvbWVyLmlvXHUwMDI2dXRtX3Rlcm09ZjZjNjA2MTVlM2Q=
zMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwibGlua19pZCI6Mj=
U4ODU5Mn0/3f9cba1907061d5e2fdde98365bfa82b3efd586095fe9ee7ca278ca410066b9a"=
 style=3D"text-decoration:underline;color:#d40000;">Loewe</a>, <a href=3D"h=
ttps://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT05LQUdjZUpI=
b0VFU0k0dUdkWE81SDlGOD0iLCJocmVmIjoiaHR0cHM6Ly93d3cuaW5zdGFncmFtLmNvbS9wL0R=
Va3pBaDZES2lhLz9obD1lblx1MDAyNnV0bV9jYW1wYWlnbj1JQytFeGNsdXNpdmUrTGluZStTaG=
VldCstK0lOTkVSK0NJUkNMRSslMjgyJTJGMTklMkYyNiUyOVx1MDAyNnV0bV9jb250ZW50PUlDK=
0V4Y2x1c2l2ZStMaW5lK1NoZWV0Ky0rSU5ORVIrQ0lSQ0xFKyUyODIlMkYxOSUyRjI2JTI5XHUw=
MDI2dXRtX21lZGl1bT1lbWFpbF9hY3Rpb25cdTAwMjZ1dG1fc291cmNlPWN1c3RvbWVyLmlvXHU=
wMDI2dXRtX3Rlcm09ZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY2YzYwNjE1ZT=
NkMzAxZDQ4ZDI4IiwibGlua19pZCI6MjU4ODU5M30/1e2ea426d0358fdc780b47d7bfc5d47cd=
d12e19e5b58169abf6b18892b5b6086" style=3D"text-decoration:underline;color:#=
d40000;">Jil Sander</a>, and <a href=3D"https://email.puck.news/e/c/eyJlbWF=
pbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT05LQUdjZUpIb0VFU0k0dUdkWE81SDlGOD0iLCJocmVmIj=
oiaHR0cHM6Ly93d3cuaW5zdGFncmFtLmNvbS9wL0RVMjByM0hFVEViLz9obD1lblx1MDAyNnV0b=
V9jYW1wYWlnbj1JQytFeGNsdXNpdmUrTGluZStTaGVldCstK0lOTkVSK0NJUkNMRSslMjgyJTJG=
MTklMkYyNiUyOVx1MDAyNnV0bV9jb250ZW50PUlDK0V4Y2x1c2l2ZStMaW5lK1NoZWV0Ky0rSU5=
ORVIrQ0lSQ0xFKyUyODIlMkYxOSUyRjI2JTI5XHUwMDI2dXRtX21lZGl1bT1lbWFpbF9hY3Rpb2=
5cdTAwMjZ1dG1fc291cmNlPWN1c3RvbWVyLmlvXHUwMDI2dXRtX3Rlcm09ZjZjNjA2MTVlM2QzM=
DFkNDhkMjgiLCJpbnRlcm5hbCI6ImY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwibGlua19pZCI6MjU4=
ODU5NH0/2ecd577ee302519da2c61624f0fe59b88788cd29cd399f3642721f693f156e80" s=
tyle=3D"text-decoration:underline;color:#d40000;">Celine</a>. <strong>Stefa=
no Gallici</strong>=E2=80=99s first Ann Demeulemeester campaign has also ar=
rived, shot by <strong>Nikolai
von Bismarck</strong> and styled by <strong>Elodie David</strong>. [<a href=
=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT05LQUd=
jZUpIb0VFU0k0dUdkWE81SDlGOD0iLCJocmVmIjoiaHR0cHM6Ly93d2QuY29tL2Zhc2hpb24tbm=
V3cy9mYXNoaW9uLXNjb29wcy9hbm4tZGVtZXVsZW1lZXN0ZXItc3RlZmFuby1nYWxsaWNpLWZpc=
nN0LWFkLWNhbXBhaWduLWxvb2stMTIzODYxMTIxMC8_dXRtX2NhbXBhaWduPUlDK0V4Y2x1c2l2=
ZStMaW5lK1NoZWV0Ky0rSU5ORVIrQ0lSQ0xFKyUyODIlMkYxOSUyRjI2JTI5XHUwMDI2dXRtX2N=
vbnRlbnQ9SUMrRXhjbHVzaXZlK0xpbmUrU2hlZXQrLStJTk5FUitDSVJDTEUrJTI4MiUyRjE5JT=
JGMjYlMjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3Vzd=
G9tZXIuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoi=
ZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjoyNTg4NTk1fQ/95948ad107dde1ba3068=
86ac239a0aadc4c630bd9bcf19e5814462fa04e8980d" style=3D"text-decoration:unde=
rline;color:#d40000;">WWD</a>]<br/><br/>I honestly think the idea of owning=
 a piece of <strong>Carolyn Bessette Kennedy</strong>=E2=80=99s wardrobe is=
 a little creepy, but worth browsing this selection for The RealReal and Po=
shmark inspiration.
[<a href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTkt=
OT05LQUdjZUpIb0VFU0k0dUdkWE81SDlGOD0iLCJocmVmIjoiaHR0cHM6Ly9iaWQudGhlZmFzaG=
lvbmF1Y3Rpb25lZXIuY29tL2F1Y3Rpb25zL3RoZS1mYXNoaW9uLWF1Y3Rpb25lZXIvZXhjZXB0a=
W9uYWwtZmFzaGlvbi1pbmNsdWRpbmctaXRlbXMtZnJvbS10aGUtd2FyZHJvYmUtb2YtY2Fyb2x5=
bi1iZXNzZXR0ZS1rZW5uZWR5LTIyNDIwP3V0bV9jYW1wYWlnbj1JQytFeGNsdXNpdmUrTGluZSt=
TaGVldCstK0lOTkVSK0NJUkNMRSslMjgyJTJGMTklMkYyNiUyOVx1MDAyNnV0bV9jb250ZW50PU=
lDK0V4Y2x1c2l2ZStMaW5lK1NoZWV0Ky0rSU5ORVIrQ0lSQ0xFKyUyODIlMkYxOSUyRjI2JTI5X=
HUwMDI2dXRtX21lZGl1bT1lbWFpbF9hY3Rpb25cdTAwMjZ1dG1fc291cmNlPWN1c3RvbWVyLmlv=
XHUwMDI2dXRtX3Rlcm09ZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY2YzYwNjE=
1ZTNkMzAxZDQ4ZDI4IiwibGlua19pZCI6MjU4ODU5Nn0/15cb1ff99042c5a4ce5fa5cef6e4f6=
59239ce156dd2248b184a416e0a2afec44" style=3D"text-decoration:underline;colo=
r:#d40000;">Fashion Auctioneers</a>]<br/><br/>Phoebe Phorever. [<a href=3D"=
https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT05LQUdjZUp=
Ib0VFU0k0dUdkWE81SDlGOD0iLCJocmVmIjoiaHR0cHM6Ly93d3cubnl0aW1lcy5jb20vMjAyNi=
8wMi8xNi90LW1hZ2F6aW5lL3Bob2ViZS1waGlsby1mYXNoaW9uLWluZmx1ZW5jZS5odG1sP3V0b=
V9jYW1wYWlnbj1JQytFeGNsdXNpdmUrTGluZStTaGVldCstK0lOTkVSK0NJUkNMRSslMjgyJTJG=
MTklMkYyNiUyOVx1MDAyNnV0bV9jb250ZW50PUlDK0V4Y2x1c2l2ZStMaW5lK1NoZWV0Ky0rSU5=
ORVIrQ0lSQ0xFKyUyODIlMkYxOSUyRjI2JTI5XHUwMDI2dXRtX21lZGl1bT1lbWFpbF9hY3Rpb2=
5cdTAwMjZ1dG1fc291cmNlPWN1c3RvbWVyLmlvXHUwMDI2dXRtX3Rlcm09ZjZjNjA2MTVlM2QzM=
DFkNDhkMjgiLCJpbnRlcm5hbCI6ImY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwibGlua19pZCI6MjU4=
ODU5N30/ea9e50f2a7ea1e2b9abf6ebf1507faece09cd4220153375677db6e32b8256527" s=
tyle=3D"text-decoration:underline;color:#d40000;">T magazine</a>]<br/><br/>=
I, too, am obsessed with the way <strong>Pieter Mulier</strong>
layers his tees. [<a href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6Im=
RnVDJ4Z1lEQU5TTktOT05LQUdjZUpIb0VFU0k0dUdkWE81SDlGOD0iLCJocmVmIjoiaHR0cHM6L=
y94LmNvbS9CT1RURUdBSE9FTkVUQS9zdGF0dXMvMjAyNDIwMjk0MjE3ODM3NDAxMz91dG1fY2Ft=
cGFpZ249SUMrRXhjbHVzaXZlK0xpbmUrU2hlZXQrLStJTk5FUitDSVJDTEUrJTI4MiUyRjE5JTJ=
GMjYlMjlcdTAwMjZ1dG1fY29udGVudD1JQytFeGNsdXNpdmUrTGluZStTaGVldCstK0lOTkVSK0=
NJUkNMRSslMjgyJTJGMTklMkYyNiUyOVx1MDAyNnV0bV9tZWRpdW09ZW1haWxfYWN0aW9uXHUwM=
DI2dXRtX3NvdXJjZT1jdXN0b21lci5pb1x1MDAyNnV0bV90ZXJtPWY2YzYwNjE1ZTNkMzAxZDQ4=
ZDI4IiwiaW50ZXJuYWwiOiJmNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImxpbmtfaWQiOjI1ODg1OTh=
9/a7a31b9c629281f7280282a862610a430958c3981e40bf9e0e9c012e0882517f" style=
=3D"text-decoration:underline;color:#d40000;">X</a>]<br/><br/>Reformation i=
s funny with this <strong>Laura Wasser</strong> (the Hollywood divorce lawy=
er) collaboration. [<a href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6=
ImRnVDJ4Z1lEQU5TTktOT05LQUdjZUpIb0VFU0k0dUdkWE81SDlGOD0iLCJocmVmIjoiaHR0cHM=
6Ly9nby5zaG9wbXkudXMvcC00Mzc3NjAzMj91dG1fY2FtcGFpZ249SUMrRXhjbHVzaXZlK0xpbm=
UrU2hlZXQrLStJTk5FUitDSVJDTEUrJTI4MiUyRjE5JTJGMjYlMjlcdTAwMjZ1dG1fY29udGVud=
D1JQytFeGNsdXNpdmUrTGluZStTaGVldCstK0lOTkVSK0NJUkNMRSslMjgyJTJGMTklMkYyNiUy=
OVx1MDAyNnV0bV9tZWRpdW09ZW1haWxfYWN0aW9uXHUwMDI2dXRtX3NvdXJjZT1jdXN0b21lci5=
pb1x1MDAyNnV0bV90ZXJtPWY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwiaW50ZXJuYWwiOiJmNmM2MD=
YxNWUzZDMwMWQ0OGQyOCIsImxpbmtfaWQiOjI1ODg1OTl9/8c25966f64104434df747a7233ac=
a3d4ab2cd70e045e0a04a731ef8bf274c379" style=3D"text-decoration:underline;co=
lor:#d40000;">Reformation</a>]<br/><br/>Brunello Cucinelli beat analyst exp=
ectations in 2025.
[<a href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTkt=
OT05LQUdjZUpIb0VFU0k0dUdkWE81SDlGOD0iLCJocmVmIjoiaHR0cHM6Ly93d2QuY29tL2J1c2=
luZXNzLW5ld3MvZmluYW5jaWFsL2JydW5lbGxvLWN1Y2luZWxsaS1zYWtzLWdsb2JhbC1yZXBvc=
nRzLXN0cm9uZy0yMDI1LWdyb3d0aC0xMjM4NjE1MTgzLz91dG1fY2FtcGFpZ249SUMrRXhjbHVz=
aXZlK0xpbmUrU2hlZXQrLStJTk5FUitDSVJDTEUrJTI4MiUyRjE5JTJGMjYlMjlcdTAwMjZ1dG1=
fY29udGVudD1JQytFeGNsdXNpdmUrTGluZStTaGVldCstK0lOTkVSK0NJUkNMRSslMjgyJTJGMT=
klMkYyNiUyOVx1MDAyNnV0bV9tZWRpdW09ZW1haWxfYWN0aW9uXHUwMDI2dXRtX3NvdXJjZT1jd=
XN0b21lci5pb1x1MDAyNnV0bV90ZXJtPWY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwiaW50ZXJuYWwi=
OiJmNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImxpbmtfaWQiOjI1ODg2MDB9/10bf8f7d31165dcb7f=
70b4898de764859a54feaf8c4a83f17539e6ae4c7c974d" style=3D"text-decoration:un=
derline;color:#d40000;">WWD</a>]<br/><br/><strong>Annie Leibovitz</strong> =
is the new face of Givenchy. (Shot by <strong>Collier Schorr</strong>.) [<a=
 href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT0=
5LQUdjZUpIb0VFU0k0dUdkWE81SDlGOD0iLCJocmVmIjoiaHR0cHM6Ly93d3cuaW5zdGFncmFtL=
mNvbS9wL0RVOFpnNGRDUFBJLz91dG1fY2FtcGFpZ249SUMrRXhjbHVzaXZlK0xpbmUrU2hlZXQr=
LStJTk5FUitDSVJDTEUrJTI4MiUyRjE5JTJGMjYlMjlcdTAwMjZ1dG1fY29udGVudD1JQytFeGN=
sdXNpdmUrTGluZStTaGVldCstK0lOTkVSK0NJUkNMRSslMjgyJTJGMTklMkYyNiUyOVx1MDAyNn=
V0bV9tZWRpdW09ZW1haWxfYWN0aW9uXHUwMDI2dXRtX3NvdXJjZT1jdXN0b21lci5pb1x1MDAyN=
nV0bV90ZXJtPWY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwiaW50ZXJuYWwiOiJmNmM2MDYxNWUzZDMw=
MWQ0OGQyOCIsImxpbmtfaWQiOjI1ODg2MDF9/1a858e233151aa67bc482e980fb9091bd59758=
ff4cda36e6ed4babd8fa467f31" style=3D"text-decoration:underline;color:#d4000=
0;">Instagram</a>]</p></div>
</td></tr></tbody></table>
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=
=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbo=
dy><tr><td style=3D"padding-bottom:32px;"><div align=3D"center">
<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=3D"presentatio=
n" width=3D"30%" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbod=
y><tr><td style=3D"font-size:1px;line-height:1px;border-top:2px solid #d400=
00;"><span style=3D"word-break:break-word;">=E2=80=8A</span>
</td></tr></tbody></table></div>
</td></tr></tbody></table>
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=
=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-b=
reak:break-word;"><tbody><tr><td style=3D"padding-bottom:32px;"><div style=
=3D"color:#000000;direction:ltr;font-family:'Inter','Arial';font-size:17px;=
font-weight:400;letter-spacing:0px;line-height:1.5;text-align:left;mso-line=
-height-alt:26px;"><p style=3D"margin:0;">Until tomorrow,<br/>Lauren<br/><b=
r/><em>P.S.</em>: We use affiliate links because we are a business. We may =
make
a couple bucks off them.</p></div>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
<table align=3D"center" width=3D"100%" border=3D"0" cellpadding=3D"0" cells=
pacing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-=
rspace:0pt;"><tbody><tr><td>
<table class=3D"c ie" align=3D"center" border=3D"0" cellpadding=3D"0" cells=
pacing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-=
rspace:0pt;background-color:#ffffff;color:#000000;border-radius:0;width:600=
px;margin:0 auto;" width=3D"600"><tbody><tr><td class=3D"yq o" width=3D"100=
%" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-=
align:left;padding-bottom:32px;padding-left:24px;padding-right:24px;padding=
-top:32px;vertical-align:top;">
<table class=3D"j" width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacin=
g=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rspac=
e:0pt;"><tbody><tr><td style=3D"padding-bottom:32px;width:100%;"><div align=
=3D"center"><div style=3D"max-width:552px;"><a href=3D"https://email.puck.n=
ews/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT05LQUdjZUpIb0VFU0k0dUdkWE81SDl=
GOD0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvcG9kY2FzdHMvdGhlLXRvd24vP3V0bV9jYW=
1wYWlnbj1JQytFeGNsdXNpdmUrTGluZStTaGVldCstK0lOTkVSK0NJUkNMRSslMjgyJTJGMTklM=
kYyNiUyOVx1MDAyNnV0bV9jb250ZW50PUlDK0V4Y2x1c2l2ZStMaW5lK1NoZWV0Ky0rSU5ORVIr=
Q0lSQ0xFKyUyODIlMkYxOSUyRjI2JTI5XHUwMDI2dXRtX21lZGl1bT1lbWFpbF9hY3Rpb25cdTA=
wMjZ1dG1fc291cmNlPWN1c3RvbWVyLmlvXHUwMDI2dXRtX3Rlcm09ZjZjNjA2MTVlM2QzMDFkND=
hkMjgiLCJpbnRlcm5hbCI6ImY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwibGlua19pZCI6NjM1NjYzf=
Q/14b8ed42cf7a5d5ff4508603b73b6a65e26484d3156718252d9ba2b815b01909" target=
=3D"_blank"><img src=3D"https://userimg-assets.customeriomail.com/images/cl=
ient-env-107382/1738778205174_pod-visual-tt-update-2025-02-05_01JKBM3Q28D37=
EXPJVMVZK2WSQ.png" style=3D"display:block;height:auto;border:
0;width:100%;" width=3D"552" alt=3D"The Town" title=3D"The Town" height=3D"=
auto"/></a></div></div>
</td></tr></tbody></table>
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=
=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-b=
reak:break-word;"><tbody><tr><td><div style=3D"color:#000000;direction:ltr;=
font-family:'Inter','Arial';font-size:17px;font-weight:400;letter-spacing:0=
px;line-height:1.2;text-align:left;mso-line-height-alt:20px;"><p style=3D"m=
argin:0;">Puck founding partner Matt Belloni takes you inside the business =
of Hollywood, using exclusive reporting and insight to explain the
backstories on everything from Marvel movies to the streaming wars.</p></di=
v>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
<table align=3D"center" width=3D"100%" border=3D"0" cellpadding=3D"0" cells=
pacing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-=
rspace:0pt;"><tbody><tr><td>
<table class=3D"c ie" align=3D"center" border=3D"0" cellpadding=3D"0" cells=
pacing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-=
rspace:0pt;background-color:#ffffff;color:#000000;border-radius:0;width:600=
px;margin:0 auto;" width=3D"600"><tbody><tr><td class=3D"yq o" width=3D"100=
%" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-=
align:left;padding-bottom:32px;padding-left:24px;padding-right:24px;padding=
-top:32px;vertical-align:top;">
<table class=3D"j" width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacin=
g=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rspac=
e:0pt;"><tbody><tr><td style=3D"padding-bottom:32px;width:100%;"><div align=
=3D"center"><div style=3D"max-width:552px;"><a href=3D"https://email.puck.n=
ews/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT05LQUdjZUpIb0VFU0k0dUdkWE81SDl=
GOD0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvbmV3c2xldHRlcnMvd2FsbC1wb3dlci8_dX=
RtX2NhbXBhaWduPUlDK0V4Y2x1c2l2ZStMaW5lK1NoZWV0Ky0rSU5ORVIrQ0lSQ0xFKyUyODIlM=
kYxOSUyRjI2JTI5XHUwMDI2dXRtX2NvbnRlbnQ9SUMrRXhjbHVzaXZlK0xpbmUrU2hlZXQrLStJ=
Tk5FUitDSVJDTEUrJTI4MiUyRjE5JTJGMjYlMjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGl=
vblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZD=
MwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjo4N=
DQ2MjR9/0d0e75321c9c2974c2edb85906e8603eb9b0865be9130bc23a41c456da6e1b15" t=
arget=3D"_blank"><img src=3D"https://userimg-assets.customeriomail.com/imag=
es/client-env-107382/1766001454846_nl-visual-wp_01KCPY7BTT75WW25XDGXF7BRJX.=
png" style=3D"display:block;height:auto;border:0;width:100%;" width=3D"552"=
 alt=3D"Wall Power" title=3D"Wall Power" height=3D"auto"/></a></div></div>
</td></tr></tbody></table>
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=
=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-b=
reak:break-word;"><tbody><tr><td><div style=3D"color:#000000;direction:ltr;=
font-family:'Inter','Arial';font-size:17px;font-weight:400;letter-spacing:0=
px;line-height:1.2;text-align:left;mso-line-height-alt:20px;"><p style=3D"m=
argin:0;">Puck=E2=80=99s daily art market email, anchored by industry exper=
t Marion Maneker, offers unparalleled access to the mega-auctions and galle=
ries,
elite buyers and sellers, and the power players who run this opaque world.<=
/p></div>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
<table align=3D"center" width=3D"100%" border=3D"0" cellpadding=3D"0" cells=
pacing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-=
rspace:0pt;"><tbody><tr><td>
<table class=3D"c ie" align=3D"center" border=3D"0" cellpadding=3D"0" cells=
pacing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-=
rspace:0pt;background-color:#ffffff;color:#000000;border-radius:0;width:600=
px;margin:0 auto;" width=3D"600"><tbody><tr><td class=3D"yq o" width=3D"100=
%" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-=
align:left;padding-left:24px;padding-right:24px;vertical-align:top;">
<table class=3D"j" width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacin=
g=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rspac=
e:0pt;"><tbody><tr><td style=3D"padding-bottom:32px;padding-top:32px;width:=
100%;"><div align=3D"center"><div style=3D"max-width:552px;"><img src=3D"ht=
tps://userimg-assets.customeriomail.com/images/client-env-107382/1738778509=
539_footer-logo-desktop-update-2025-02-05_01JKBMD09PMV7KY6RTKWSS42R2.png" s=
tyle=3D"display:block;height:auto;border:0;width:100%;" width=3D"552" alt=
=3D"Puck" title=3D"Puck" height=3D"auto"/></div></div>
</td></tr></tbody></table>
<table class=3D"z" width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacin=
g=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rspac=
e:0pt;"><tbody><tr><td style=3D"padding-bottom:32px;text-align:center;paddi=
ng-right:0px;padding-left:0px;"><div align=3D"center">
<table class=3D"y" width=3D"188px" border=3D"0" cellpadding=3D"0" cellspaci=
ng=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rspa=
ce:0pt;display:inline-block;"><tbody><tr><td style=3D"padding:0 10px 0 0;">=
<a href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktO=
T05LQUdjZUpIb0VFU0k0dUdkWE81SDlGOD0iLCJocmVmIjoiaHR0cHM6Ly9mYWNlYm9vay5jb20=
vcHVja2RvdG5ld3M_dXRtX2NhbXBhaWduPUlDK0V4Y2x1c2l2ZStMaW5lK1NoZWV0Ky0rSU5ORV=
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