Must Read: Why High Jewelry Brands Invest in Cannes, Loewe Announces Craft Prize Winners

<p>Photo: Pascal Le Segretain/Getty Images</p>

Photo: Pascal Le Segretain/Getty Images

These are the stories making headlines in fashion on Wednesday.

Why high jewelry brands invest in Cannes
For Vogue Business, Milena Lazazzera reports on how the Cannes Film Festival — which started this week — has turned into an increasingly important marketing event for high jewelry brands, big and small. "In this day and age of instant information, that kind of exposure can add to the provenance of the piece, and sway potential buyers who may be prepared to pay a premium for it, and therefore add to its intrinsic, material value," Olivier Wagner, head of jewelry at Sotheby's Geneva, told the publication. {Vogue Business/paywalled}

Loewe announces winner of its 2023 Craft Prize
The Loewe Foundation awarded Japanese artist Eriko Inazaki its 2023 Craft Prize, which recognizes excellence in modern craftsmanship, for her ceramic sculpture titled "Metanoia". The jury also gave special mentions to Dominique Zinkpè for his wooden wall sculpture, "The Watchers," and Moe Watanabe for her walnut bark box, "Transfer Surface." You can see all of the shortlisted works at the Isamu Noguchi’s Studio at The Noguchi Museum in New York City from May 17 through June 18, as well as online. {Fashionista Inbox}

TikTokers' growing interest in Upper East Side style
Manhattan's Upper East Side has historically represented a very specific (read: wealthy) type of dressing — and that style is TikTok's latest fascination, writes Jennifer Barthole in Elle. "They share a sense of pride in putting themselves together in the way they want to be viewed and to show respect to the places and people they patron," said Joshua Kamei, creator of the TikTok account @LadiesOfMadisonAvenue, of the women he interviews. {Elle}

There's a new race in tech to back up fashion's green claims
Regulation around sustainability is powering a new wave of startups that use tech like A.I. to help companies understand their environmental impact. (Like the French startup Carbonfact, which just partnered with Adore Me.) There are roughly 40 different pieces of regulation set to come into play over the next four years that will push brands in the direction of greater transparency and understanding of their environmental impact, Jocelyn Wilkinson, partner at consulting firm BCG, told the Business of Fashion. But data that companies have around their impact is less up to par. For example, a company that doesn't own its factories must rely on factories to provide timely and accurate data on things like raw material footprints. And procuring that data is no simple task. {Business of Fashion}

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