Fashion wowed us this week. Louis Vuitton shared a first look at its much-anticipated collaboration with Yayoi Kusama; Moncler Genius announced it would be shown during London Fashion Week in February; and Chanel confirmed it will be restaging its Dakar Métier d’Art show in Tokyo in June. While some brands looked forward, others celebrated success:
Below, Hypebeast has rounded up the top fashion stories of the week to keep you up to date with trends in the industry.
adidas is “re-evaluating” its partnership with Balenciaga
After Balenciaga’s controversial “Gift Shop” campaign Sneaker Freaker recently released screenshots of new customer service emails from Balenciaga and adidas stating that pre-orders from the brands’ collaborative collection would be delayed or not fulfilled.
“We have taken the time to re-evaluate our partnership with Balenciaga and decided to suspend all product launches until further notice,” the adidas email reads. “Unfortunately, as a result, we are unable to fulfill your pre-order of the Balenciaga/adidas Stan Smith.” Balenciaga’s email was more sombre, telling customers orders were “being delayed in shipment” and that previous tracking numbers were no longer accurate .
According to the outlet, the customer who received the emails had recently received a pair of Balenciaga x adidas Triple-S, so the status of their partnership is most likely fluid.
Nike reported rapid revenue growth in its fiscal 2023 second quarter results
Nike, Inc. on Wednesday released its financial results for the second quarter ended November 30 for fiscal 2023, revealing one of the best quarterly sales growth rates in more than a decade.
The company’s revenue rose to $13.3 billion, up 17% year over year. The figure, which tops an estimate of $12.57 billion, marks Nike’s best report in 42 quarters, barring 95% growth in the fourth quarter of 2021, when retail stores opened after pandemic lockdowns.
In North America, Nike’s largest market, sales increased 30%; However, figures in China, the brand’s most profitable market, fell 3% due to COVID restrictions.
Nike’s profit margins were squeezed, mainly due to increased discounts to liquidate inventory, unfavorable changes in net exchange rates, and increased freight and logistics costs. The company’s gross margin declined 300 basis points to 42.9% and earnings for the quarter were reportedly flat compared to 2021.
Louis Vuitton gave a first glimpse of its upcoming collaboration with Yayoi Kusama
Louis Vuitton is ready to give polka-dots a prominence in its forthcoming collaboration with Japanese artist Yayoi Kusama.
The collaboration will fuse the French Maison’s signature shapes with Kusama’s iconographic designs and multi-million dollar brushstrokes. The brand is gearing up to launch a legion of ready-to-wear, accessories, leather goods and even perfumes as part of the collaboration. In anticipation of the launch, Steven Meisel shot a series of campaign images with Gisele Bundchen, Liya Kebede, Devon Aoki, Christy Turlington and Anok Yai.
The first products are scheduled for pre-launch on January 1, 2023 in Japan and China, while all other 460 Louis Vuitton stores worldwide will see a release of the collaboration on January 6, 2023.
Gucci opens its first luggage-only store in Paris
Gucci announced the official opening of its first standalone luggage store in Paris. The luxury giant finds a new home on coveted Rue Saint-Honoré, in a 2,900 square meter storefront housing the entire Gucci Valigeria range.
In a statement to WWD, CEO Marco Bizzarri explains what the opening of the boutique means for Gucci. “The opening of our first Gucci Valigeria boutique on Rue Saint-Honoré represents the next step in our ongoing strategy to strengthen our leadership position in the travel category,” he said. “Gucci Valigeria is a powerful reminder of our Florentine roots and timeless craftsmanship.”
Bizzarri confirmed that the brand plans to open more luggage-only stores in “other iconic cities” in the future.
Fendi unveiled its state-of-the-art Tuscany factory
Fendi pulled back the curtain on its new factory in the Tuscan town of Bagno a Ripoli. The multifaceted outpost was a collaborative project between the label’s in-house team of architectural specialists and Milan-based architects Piuarch.
Strikingly modern yet minimalist, the factory blends into its surroundings in a natural, warm shade of brown, and its roof is covered by a lush garden. Inside, the innovative building houses a production warehouse, workshops, offices, a leather goods school and a restaurant.
Moncler Genius will be at London Fashion Week 2023
Moncler CEO Remo Ruffini’s collaboration, Moncler Genius, will be shown during London Fashion Week this February.
The French luxury label introduced the Genius tag in 2018 with the intention of incorporating the work of leading creatives and designers in the industry into Moncler’s DNA. In the past, Genius has worked with the likes of CSM graduate DingYun Zhang, Craig Green and Palm Angels.
The Moncler Genius Show will take place on February 20, 2023. Ruffini has yet to reveal which talents will be starring in this upcoming collection.
That Christian Dior: designers of dreams Exhibition arrived in Tokyo
After receiving critical acclaim for his Paris rendition, he Christian Dior: designers of dreams The exhibition is on its way to Tokyo.
The exhibition will further increase Dior’s influence in Japan, one of the French label’s strongest markets. Paying homage to the country, the showcase includes a new scenographic narrative designed by architect Shohei Shigematsu, highlighting the brand’s couture designs spanning over 75 years alongside traditional Japanese cultural elements.
In conversation with AFP, Shigematsu explained, “When Dior makes a skirt, there’s a structure and then the fabric is laid over it. I was asked to create a traditional Japanese structure, so I thought of shoji screens, for example, which have a wooden structure and are covered with paper.”
That Christian Dior: designers of dreams Starts is now open at the Museum of Contemporary Art Tokyo. It will remain on view until May 28, 2023.
Chanel will restage its previous Dakar Métiers d’Art show in Tokyo
Following the success of the Dakar 2022/23 Métier d’Art Collection, Chanel has announced that it will restage the show in Tokyo in 2023.
The collection made its debut on December 6th at the former Palace of Justice in Dakar, Senegal. Highlighting the rich colors and embroidery of beads and sequins, the line is very Chanel, with its fair share of flared pants in the house’s traditional tweeds.
The Dakar show attracted a high profile audience including House Speaker Pharrell Williams, Naomi Campbell, Whitney Peak, Nile Rodgers, Princess Caroline of Monaco and her daughter Charlotte Casiraghi. In particular, the show was part of a three-day cultural program in the Senegalese city.
Chanel’s show in Tokyo will take place on June 1, 2023.