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Mar 3, 2026

Line Sheet
Burberry
Lauren Sherman Lauren Sherman

Hi, and welcome back to Line Sheet. I’m feeling hopeful this week, and not just because the weather in Paris is beautiful. Yesterday, I had a life-giving facial with Athena Hewett at the Monastery pop-up around the corner from my flat (nothing is better than this), then a delicious, cheffy dinner at beauty industry connector Michelle Duncan’s Paris apartment, where she introduced us to her new brand that’s launching this September (more soon on that, I’m sure). I also got to see my friend Stephanie Danan’s first-ever runway show for Co, her 15-year-old label that transformed when she moved to Paris a few years ago. (I will be preordering the bodysuit.)

Fashion really got going in earnest today. I’ll have a fuller report tomorrow with a lot of time dedicated to tonight’s Saint Laurent show, but here you’ll find my take on Jonathan Anderson’s fifth runway collection for Dior—which, as he explained this morning, is just a small representation of the thousands of styles that his teams within LVMH’s second-largest brand are creating each season.

Sarah “SShapiro@puck.news” Shapiro is also here with a statement about stirrups (they are back for real), and a read on the wild numbers that came out of that auction of Carolyn Bessette Kennedy’s wardrobe. (A friendly reminder: You can find most of this stuff on The RealReal, Vinted, Poshmark, etcetera!)

For the main event, Malique “Malique@puck.news” Morris has the latest on Quince, the online retailer that claims to be a chic version of Kirkland. After getting sued for knocking off brands, Quince and its controversial founder, Sid Gupta, are suing Deckers, the maker of Uggs, for alleged antitrust violations. I would venture to say that I get requests to cover Quince more than any other company, so consider this premium Line Sheet fan service.

Also mentioned in this issue: Dario Vitale, Gucci, Jil Sander, Stella Bugbee, A$AP Rocky, Tod’s, Phoebe Philo, Spiegel, Donna Karan, Veronica Beard, Marie-Amelié Sauvé, Michael Rider, The Estée Lauder Companies, Lili Chemla, Joel Dion, Coach, Susan Scafidi, Tanner Leatherstein, Marie Adam-Leenaerdt, Dakota Kate Isaacs, Prada, Erin Walsh, Selena Gomez, T.J. Maxx, Anne Hathaway, Alexis Page, Balmain, Antonin Tron, Jacob Gallagher, and more…

A MESSAGE FROM OUR SPONSOR

Burberry
Burberry

Three Things You Should Know…

  • The great Dior unlock: Jonathan Anderson said something profound—in fashion industry terms, at least—this morning at a preview for his fifth Dior runway show: “Repetition product is not selling, but that’s where the margin was.” Duh. And yet, so many megabrands are stuck exactly there; they don’t know what to do now that their boring product is too boring to move. The solution, according to Anderson, is to try to give a “why” to every single item you’re selling. Introduce fewer bags, but make sure they are the right bags: “Small amounts to get it right.”
dior fw 26
  • If Anderson sounds like a C.E.O., that’s because he sort of is at this point—or at least one in training. There are not that many designers who have successfully played both sides (Tom Ford and Hedi Slimane come to mind), but the work Anderson is doing in partnership with Dior’s actual C.E.O., Delphine Arnault, is important not only to the future of the house, but the future of the industry. It could serve as a blueprint.

    Some things remain the same. For instance, show big or go home. For today, Anderson’s team built a film-set version of the Tuileries inside the Tuileries, complete with the green benches that have been so brilliantly knocked off by the Bouroullec brothers for Hay, making them a staple of upper-middle-class backyards the world over. The lily pads anchoring the center of the structure were akin to Monet’s Water Lilies—the original housed, of course, at the Musée de l’Orangerie, just steps away. Guests were enclosed in a greenhouse-like hotbox. Who knows how much this cost to stage—tens of millions, to be sure—but the natural sunlight made the clothes glisten on camera and off, and delivered a super-dose of vitamin D to sweating guests coming out of hibernation from the winter.

    But other things are different. One of Dior’s longstanding challenges is that the brand’s go-to marketing codes and references nearly all come from one 10-year period of time, when its namesake was alive and working. Anderson is pulling away from that, weaving more in from more-recent predecessors, and also his own narrative. He said he doesn’t want Dior to have any one look, but rather that customers know it for the hand-feel of the clothes. And yet, a look is emerging. This collection was pretty—all we ever wanted, right? Consider the covered bridal buttons doing up a jacket, the curly hems, the peplums, the pink, and the Donegal tweed woven with glittering yarn. It also appeared well thought out. With so many collections to complete, Anderson said he is working on a six-month cycle rather than a four-week one. That may require more organization and planning, but it also gives him more time to think.
  • The Single White Female-ing of Carolyn Bessette Kennedy continues: It’s hard to explain why people are so obsessed with Carolyn Bessette Kennedy. She had a great nose. She came from a normal family. She possessed incredible personal style. She married the hottest, most eligible bachelor in the world. She died young, and is cemented in youth. And yet, it’s still remarkable that, today, a 1996 Prada camel coat that once belonged to Bessette Kennedy sold for $192,000 at The Fashion Auctioneer, the independent fashion auction house founded this year by Lucy Bishop. The final total blew past the previous record of $78,000 for a piece of clothing owned by the former Calvin Klein publicist, who—as anyone watching Ryan Murphy’s FX series Love Story: John F. Kennedy Jr. & Carolyn Bessette, or anyone who was alive in 1999, knows—died alongside her husband and sister in a horrific plane crash that year. But it wasn’t just the Prada coat that sold this morning. Other pieces auctioned from Bessette Kennedy’s wardrobe included a famous covered-button Yohji Yamamoto jacket (sold for $12,500) and the Yohji Yamamoto dress (sold for $20,000). The camel coat stoked a bidding war, with multiple six-figure bids coming in right as the auction closed at 10 a.m. ET. Anyway, whoever bought this, please donate it to a museum. —Lauren Sherman and Sarah Shapiro, with a useful graphic by Maya Tribbitt
cbk closet auction
Sarah Shapiro Sarah Shapiro
  • Finally, stirrups!: It’s been nearly 40 years since stirrup pants were really in fashion—available in excess at mall staples like The Limited, Lerner, and Multiples. Over the decades, of course, there have been half-assed attempts to bring them back to the high street, with little success. But the latest European runways suggest a real revival is in the works. Stirrup pants figured into shows by Jil Sander and Tod’s, and sort of at Gucci in Milan. Today, they could be seen at Marie Adam-Leenaerdt in Paris. (Also: Lauren saw superstylist Marie-Amélie Sauvé in the wild wearing a banded-waist pair with the Phoebe Philo ballet flats. It’s legit.) Even in New York, where trends tend to trickle down more slowly, they were present: Veronica Beard showed them in the context of images of designer (and stirrup devotee) Donna Karan. Already, consumers can find stirrups everywhere from Skims to H&M.

    Why is this happening now? The stirrups last peaked during the heyday of the Spiegel catalogue in the ’80s—a look recently championed by Michael Rider at Celine and Dario Vitale, late of Versace. These days, stirrups also go well with the Phoebe Philo–championed oversize, sculpted jackets. Leset founder and C.E.O. Lili Chemla has actually carried the brand’s Rio stirrup pant for five years as part of its core assortment. “We see huge surges, then it flattens, then surges again,” she told me. Perhaps this surge will last longer than most.

And now, the main event…

Quince’s Law & Order Era

Quince’s Law & Order Era

After getting sued a few too many times, the notorious D.T.C. copycat and fashion industry villain is going on the offensive with an audacious legal Hail Mary. The company is accusing Deckers of being a lawsuit troll—even as it attempts to shed its knockoff reputation.

Malique Morris Malique Morris

You sort of have to appreciate the chutzpah of Quince, the Instagram-ubiquitous, direct-to-consumer e-tailer best known for aggressively knocking off more-premium brands. Since its founding in 2018, the San Francisco–based company has been sued numerous times for alleged infringements related to its “dupe” business model. Last April, Tapestry sued Quince for copying Coach’s Rogue and Soho Flap handbags. Last November, Williams Sonoma sued Quince for its comparative advertising. (Both actions remain ongoing.) In 2023, Deckers sued Quince for copying Ugg’s Ultra Mini boots and Talisman slippers. (A California court ruled the designs were too generic to be legally protected under trademark law.)

A MESSAGE FROM OUR SPONSOR

Burberry
Burberry

Anyway, last month Quince turned the telescope around and went on the offensive—suing Deckers for… suing its competitors too much. It’s a novel and legally audacious case. In short, Quince has argued that Deckers has violated antitrust law by operating a “litigation assembly line” to shut down its rivals. According to the complaint, Deckers has filed more than 20 “trade dress lawsuits” against other companies since last October in order to increase its market share. “When Deckers’ litigation forces affordable competitors to pull products or alter designs, consumers lose access to affordable options and Deckers gets to keep charging premium prices without competitive pressure,” Joel Dion, Quince’s head of legal, said last week.

There’s a lot of money on the line for Quince, which has raised nearly half a billion dollars and now generates about $1.1 billion in annual revenue. In 2025, the company tripled its sales year over year, according to two insiders. But its customer-friendly strategy hasn’t made many industry friends. Quince’s business model relies on copying a vast array of products in multiple categories from popular brands—cashmere sweaters, wool coats, luggage, linen sheets, even vitamins and supplements—and selling them at ultralow prices. The company has also developed an astonishingly powerful customer acquisition funnel, using proprietary algorithms to scrape other websites for bestsellers and then dumping money into Instagram and Google ads, where the Quince knockoffs appear alongside their inspiration.

Quince’s longshot legal campaign could reset expectations for the industry. Currently, logos and patterns can be trademarked, but not silhouettes or nonfunctional design elements. Courts, obviously, have some discretion in determining what is or isn’t “generic.” But the Quince lawsuit is a warning shot that excessive litigation may itself be anticompetitive. “This is really an attack on brand protection as it exists writ large,” said Susan Scafidi, a professor of fashion law at Fordham University. “This is an attempt to legitimize dupes from a legal perspective.”

Quince Quiet Luxury?

The suit comes at a crucial time for Quince as it takes more market share. Co-founder and C.E.O. Sid Gupta has long argued that his company is simply offering luxury-level quality at fair prices—a sort of anti-Shein. “If you go to Costco, and you have Kirkland vodka next to the Grey Goose, there’s a choice there that the consumer is going to make,” Gupta told Wirecutter last April. “There’s only one distinction between us and Kirkland: We try to make our product better than the comparable.”

But while the company has made its tactics the center of its strategy, it’s recently hinted at a readiness to shed its knockoff rep. After TikTok creator Tanner Leatherstein posted a video demonstrating how a Quince bag wasn’t made with the kind of top-grain leather it purported to be, Gupta hired him as a quality control contractor. I’m also told Quince staffers are given a monthly stipend to buy its products and give their honest feedback. Last month, the company hired Dakota Kate Isaacs, a former exec at The Estée Lauder Companies, as head of brand strategy to help Quince clarify its value to consumers outside of its prices.

Quince has begun making moves to validate its brand with key opinion elites, too. In 2025, the company launched a beauty marketplace that sells $315 moisturizer from Augustinus Bader. In January, the retailer started collaborating with celebrity stylist Erin Walsh, who works with Selena Gomez and Anne Hathaway, on an ersatz quiet-luxury capsule collection. The retailer also recently collaborated with A$AP Rocky on exclusive vinyls for Don’t Be Dumb. I’m told company executives have internally teased that similar partnerships are on the way.

It all reads like a strategy to increase brand equity—and finally reach profitability. Gupta, I’m told, recently informed staffers that the brand was nearly profitable in 2025, but fell below an unspecified goal. Quince, of course, operates on thin margins due to its low markups, and presumably spends heavily on Instagram and Google ads, given its ubiquity on those platforms. But people close to the business say Quince remains focused on quality and customer retention—the most profitable driver of sales—and plans to quintuple the size of its customer experience team.

Burberry
Burberry

But while it wants to rid itself of the copycat stigma, Quince’s antitrust complaint against Deckers underlines how copying other brands will always be foundational to its model—and its prodigious ambitions. I’m told that Quince’s workforce jumped last year from 800 to 1,200, and that it’s looking to triple that count before the end of the year. I’ve also heard the brand is planning to open more warehouses in the U.S.—it currently operates just one in New Jersey—along with plans to enter the U.K. this year. (The brand started shipping to Canada last fall.)

Undercutting competitors with similar designs at better prices will probably be the driving force for Quince’s next billion in sales. Now would be an inopportune time for the company to let anything—least of all its litigious adversaries—force it to radically alter a winning formula.

 

What We’re Reading… and Looking At…

Alexis Page, the genius behind some of the best beauty brands in the world, launched a Substack. [Self Involved]

If these Posternak-directed clips are any indication, Antonin Tron’s debut at Balmain is going to be great. [Vogue]

Stella Bugbee and Jacob Gallagher both defended the New Balance loafer-sneakers and now look! [N.Y. Times]

Every apparel retailer is jealous of the TJX business. The owner of T.J. Maxx, T.K. Maxx, Marshalls, and so much more reported Q4 earnings today, with sales at stores that have been open for at least one year up 5 percent, beating projections. The company’s note about being positioned to “flow fresh assortments to stores and online this spring” raises an interesting question: Is the off-price giant finally getting serious about e-commerce? [TJX]

 

Until tomorrow,
Lauren

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

Fashion People

Puck fashion correspondent Lauren Sherman and a rotating cast of industry insiders take you deep behind the scenes of this multitrillion-dollar biz, from creative director switcheroos to M&A drama, D.T.C. downfalls, and magazine mishaps. Fashion People is an extension of Line Sheet, Lauren’s private email for Puck, where she tracks what’s happening beyond the press releases in fashion, beauty, and media. New episodes publish every Tuesday and Friday.

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The industry’s go-to source for unflinching reporting on the trillion-dollar business of artificial intelligence - perhaps the single most important technology of our time. Ian Krietzberg, the powerhouse journalist behind The Deep View, delivers twice-weekly insights into the latest dealmaking and breakthroughs in A.I., and how the intersecting worlds of finance, entertainment, media, and politics are being transformed in its wake.

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