Hi, and welcome back to Line Sheet. Happy Bastille Day! I trust you’re having lots of hydration breaks wherever you are. I’m taking some R&R time with my family, but fashion never takes a vacation.

Today, Rachel Strugatz is here with an Estée Lauder plot twist after months of deal chatter. Malique Morris has the latest chapter in J.Crew’s long effort to figure out what kind of menswear brand it wants to be, and has some thoughts on why Olivier Rousteing might be the exact right choice for Rabanne right now—even if he was kind of the only choice. Down below, Sarah Shapiro reveals ShopMy’s top 10 rankings for June (everyone’s buying pretty skirts and tops).

Also mentioned in this issue: Kathleen Van Nest Pierce, Julia Berolzheimer, Cosmopolitan, Demna, Brendon Babenzien, Net-a-Porter, Jeffrey Uhl, Shein, Julia Collier, Rihanna, Prada, Stéphane de La Faverie, Leset, R.F. Kenmore, Priya Rao, Libby Wadle, and more.

Three Things You Should Know…

Malique Morris

J.Crew’s new menswear guy: J.Crew’s menswear business hasn’t had a dedicated leader since Brendon Babenzien, who reignited its credibility with his Giant-fit chinos and New York media set–baiting marketing, left in February to refocus on his own brand, Noah. On Friday, industry gadfly R.F. Kenmore broke the news that J.Crew had found Babenzien’s replacement, but didn’t say whom. Now I’m told that his successor is Jeffrey Uhl, a J.Crew veteran who designed for the men’s business way back before the Drexler years and subsequently decamped for Coach. Uhl quietly rejoined J.Crew as men’s creative consultant last month.

Uhl returns to a brand in transition. Over the last year, C.M.O. Julia Collier has been steadily integrating the company’s men’s and women’s marketing. Next month, former Estée Lauder executive Kathleen Van Nest Pierce is coming on board as president of the flagship J.Crew brand, its first dedicated leader since Libby Wadle left in 2017. Can Uhl preserve or supersede the cultural imprint that Babenzien left behind? Alas, the fact that the company replaced its head of men’s design with a consultant—albeit one who understands the brand’s heritage—suggests that may not be the point.
Olivier’s army: In many ways, Olivier Rousteing’s appointment as creative director of Rabanne seems like a play by Puig to extend the brand beyond its traditional stronghold in the fragrance category—the perfect job for the Parisian social maven. At the height of his glory days at Balmain, Rousteing and his #BalmainArmy transformed the brand into an essential piece of the culture, establishing himself as one of the few designers who truly understood the new media landscape. Of course, that hasn’t been the case for a while. But Rousteing’s troops are still loyal, even if there are far fewer of them.

It’s almost guaranteed that Rousteing will attempt to turn Rabanne’s trademark chainmail, which is still a pretty IYKYK design motif, into a status marker. That would allow the brand to be more experimental with product expansion. Rabanne is already a stacked lifestyle outfit with ready-to-wear, bags, shoes, jewelry, charms, and all. Could we get couture? Rousteing, who is reportedly already working on a collection, is slated to present his first runway outing in March. I expect he’ll be up to his old tricks, and stock his Rabanne debut with famous faces. Rihanna starred in Balmain ads back in the day.

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Rachel Strugatz

Lauder’s about-face: I spoke too soon! Just weeks after I reported that pressure was mounting on Estée Lauder C.E.O. Stéphane de La Faverie to divest several brands, the business has apparently changed course. According to my best pal Priya Rao at BoF, the company has decided not to sell Too Faced, Smashbox, and Dr. Jart, which were originally being marketed as a package said to be valued in the low nine figures. (Lauder never confirmed the sale rumors.)

Back in early June, I reported that while final bids for Too Faced and Smashbox had been due in mid-May, no deal had emerged. One person familiar with the deck told me that nearly every firm that examined Too Faced had dropped out of the bidding. This week, another insider said that Lauder was simply “asking for too much” for the brand.

That’s a reasonable critique, but even with Too Faced’s challenges, it’s still a roughly $300 million business that could be salvaged with adequate investment, including bigger budgets to support launches and strong executive leadership. Unfortunately, that doesn’t seem to be the plan. I’ve seen an internal document stating that Too Faced is moving its headquarters from Los Angeles to New York with a “significantly streamlined” team. (An ELC rep declined to comment.)

And now, the main event…

Denim Short Selling

The latest ShopMy data shows that affiliate dollars are flowing through the vacation wardrobe—linen skirts, scarf tops, and raffia minis—wrapped around it.

Sarah Shapiro

Here’s a bit of news: People are buying clothes. As indicated by our exclusive ShopMy x Line Sheet top 10 list for June, ready-to-wear—not handbags—drove luxury affiliate commerce in the month. Seven of June’s top 10 luxury items were apparel, up from just four in May. With the unofficial runway stretching from Portofino and Saint-Tropez to Martha’s Vineyard and Aspen, it seems as though the GLP-1-svelte—and other vacationers—are scrambling to buy ready-to-wear.

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As always, our exclusive data tracks where transactions occurred and which affiliate-linked products first drove shoppers toward an online purchase. (The rankings don’t necessarily reflect the specific items they purchased.) As I reported last month, ShopMy is currently generating $200 million in monthly revenue for brands and retailers. For June, we analyzed items priced at $200 and above, along with luxury items priced at $600 and above.

June marked a decisive shift toward ready-to-wear after May had over-indexed in footwear. Five of May’s top 10 luxury items were shoes; in June, there was just one pair, alongside two handbags. The two bags were both Prada staple pieces—the Crochet Tote, a perennial summer favorite, and the green Prada Re-Nylon Pouch. If I were placing bets on Kalshi, I’d wager the latter lands in Lyst’s second-quarter top 10 when that ranking arrives at the end of July.

Roman Holiday

Notably, Julia Berolzheimer, a ShopMy creator with one of the platform’s highest average cart values, shared links to eight of June’s top 10 luxury items. When I asked what was driving demand for higher-priced pieces, Berolzheimer said shoppers were looking for distinctive vacation wardrobes. “It’s around apparel and full styles,” she told me. Handbags were another story. Her D.M.s are full of followers showing off new Chanel and Hermès purchases made in Europe—in boutiques, not through affiliate links. Shoppers will buy more niche bags like Savette and Le Sundial through affiliate links, she said, but they want the in-store experience when it comes to the European luxury houses.

The apparel that captured shoppers’ attention reflected that vacation mindset—they were destination pieces, not wardrobe basics. Topping the list was Rabanne’s $1,290 lace and jersey skirt, followed by a linen corset top from Andres Otalora, a Christopher Esber scarf top, a ShuShu/Tong mini dress, Nili Lotan silk shorts, lace pants from resortwear label Loretta Caponi, and a raffia mini skirt from Aje.

Summer apparel also dominated the more accessibly priced list, interrupted only by two pairs of sandals. Margaux’s The Wrap Sandal reclaimed the No. 1 spot. A company insider told me the style accounted for 17 percent of the brand's total monthly demand in June, while flat sandals as a category were up 152 percent year over year. “Saddle Nappa” emerged as the bestselling color. (It’s brown.) Ancient Greek Sandals also cracked the top 10 with its Esther Beads Sandals, another sign that Camper’s acquisition of a 60 percent stake in the brand is paying off.

The easy-pants phenomenon also cooled. After dominating shopping links earlier this year, only two pairs made June’s list. Leset’s Kyoto pants returned at No. 2, helped by restocks in key colors. An internal source said the style continues to sell well across multiple retailers—including Mytheresa, Net-a-Porter, Bloomingdale’s, Leset’s website, and its Bleecker Street store. Cotton styles for Leset were up 263 percent year over year in June. The other easy-pant entry came from Rag & Bone, whose Atlas Linen Pants have effectively replaced demand once generated by the brand's Miramar sweatpant-denim collection.

Denim shorts took much of the real estate once dominated by flowy trousers. Agolde’s Parker Long Short, a vintage-inspired, longer-length style carried by nearly every major retailer, became one of the list’s most-linked products, with more than 4,000 creators sharing it through ShopMy.

Swimwear also returned to the top 10, with Left on Friday’s Retreat Suit as the sole representative of the category. A source at the brand said it has been a bestseller since launching in spring 2025, while creators frequently position the black version as versatile enough to double as a bodysuit. Other standouts included Janessa Leoné’s packable raffia hat, shared by nearly 2,000 creators; a sundress from Shopbop’s private-label brand Le Bop; and Khaite’s Abigail denim, another repeat performer.

So while Chanel is understandably dominating social media, insider fashion discourse, and boutique shopping this summer, affiliate commerce tells a different story. You’ve got to have something to wear on that trip to buy your dream bag.

What We’re Reading…

Brooke Bobb, Nordstrom’s new fashion director, has the requisite mix of glossy mag editing and luxury brand P.R.-ing experience that makes for great retail executives these days. [Inbox]

Executive chairman Donald Tang, who helped Shein become one of the biggest and most hated brands in fashion, is stepping down right as the fast fashion villain finally gets approval to go public. He’ll still remain active inside the company. [Inside Retail]

An early highlight of Adam Baidawi’s tenure as GQ’s global editorial director: He convinced Brandon Tan to leave Willa Bennett’s super relevant Cosmopolitan and Seventeen to rejoin the magazine. [Business of Fashion]

Culottes are back! [N.Y. Times]

Specialty stores remain the only truly healthy part of multibrand retail. [Business of Fashion]

Every brand wants a piece of Hailey Bieber. [The Cut]

Until tomorrow,
Lauren

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