Hirons is arguably the most important figure in British beauty, but she’ll test the limit of her authority as she transitions from skin care expert to brand founder with her new line Skin Rocks.

Fashion and beauty start-up valuations appear to have stabilised after plunging last year, though it may be months or even years before many return to their old highs — if they ever do. But there are ways for emerging and established players to ride out the downturn.

Designers Harris Reed and Ludovic De Saint Sernin both bring next-generation, gender-fluid sensibilities to storied European houses. But the missions they face couldn’t be more different.

New CEO Bjorn Gulden will face questions about the doomed collaboration when the company reports earnings this week. That, plus what else to watch for in the coming days.