This week, fashion got us excited. Louis Vuitton shared a first look at its highly anticipated collaboration with Yayoi Kusama; Moncler Genius announced that it would be shown during London Fashion Week in February; and Chanel confirmed that they will re-present their Dakar Métier d’Art show in Tokyo in June. While some brands looked to the future, others celebrated achievements: Nike reported increased revenue in the second quarter of fiscal 2023, and Gucci cut the ribbon on its first exclusive luggage store in Paris. Elsewhere, new emails from customer service revealed that adidas is reassessing its partnership with Balenciaga, following the latter brand’s controversial “Gift Shop” campaign.
Below, Hypebeast has rounded up the top fashion stories of the week so you can stay up to date on industry trends.
adidas is “reevaluating” its partnership with Balenciaga
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In the wake of Balenciaga’s controversial “Gift Shop” campaign, Sneaker Freaker recently posted screenshots of new customer service emails from Balenciaga and adidas that said pre-orders for the brands’ collaborative collection would be delayed or not fulfilled. they would comply
“We have taken the time to re-evaluate our partnership with Balenciaga and have decided to pause all product launches until further notice,” the email from adidas reads. “Unfortunately, therefore, we will not be able to fulfill your Balenciaga/adidas Stan Smith pre-order.” Balenciaga’s email was murkier, telling customers orders would be “delayed in shipping” and previous tracking numbers were no longer correct.
According to the outlet, the customer who received the emails had recently received a pair of Balenciaga x adidas Triple-S, so their partnership status is likely fluid.
Nike reported a revenue increase in its second-quarter fiscal 2023 results
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Nike, Inc. on Wednesday reported its fiscal 2023 financial results for its second quarter ending Nov. 30, revealing some of its best quarterly revenue growth in more than a decade.
The company’s revenue increased to $13.3 billion, representing an increase of 17% compared to last year’s figure. The figure, which beat an estimate of $12.57 billion, marks Nike’s best report in 42 quarters, aside from 95% growth in the fourth quarter of 2021 as retail stores opened after pandemic shutdowns.
In North America, Nike’s largest market, sales increased 30%; however, numbers in China, the brand’s most profitable market, were down 3% due to COVID restrictions.
Nike’s margins decreased, primarily due to increased inventory clearance markdowns, unfavorable changes in net exchange rates, and increased logistics and freight costs. The company’s gross margin decreased 300 basis points to 42.9% and revenue for the quarter was reportedly flat compared to 2021.
Louis Vuitton revealed a first look at its upcoming collaboration with Yayoi Kusama
Louis Vuitton
Louis Vuitton is ready to bring polka dots to the fore in its upcoming collaboration with Japanese artist Yayoi Kusama.
The collaboration will fuse the distinctive shapes of the French Maison with Kusama’s iconic designs and million-dollar brushstrokes. The brand is gearing up to launch a legion of ready-to-wear, accessories, leather goods, and even perfumes under the collaboration. In anticipation of its release, Steven Meisel shot a series of campaign images starring Gisele Bündchen, Liya Kebede, Devon Aoki, Christy Turlington and Anok Yai.
The first products are scheduled to launch on January 1, 2023 in Japan and China as a pre-launch, while the other 460 Louis Vuitton stores worldwide will see the collaboration launch on January 6, 2023.
Gucci opened its first luggage-only store in Paris
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Gucci announced the official opening of its first independent luggage store in Paris. The luxury giant finds a new home on the coveted Rue Saint-Honoré, inside a 2,900-square-foot store that houses the entire line of Gucci Valigeria.
In a statement to WWD, CEO Marco Bizzarri details what the opening of the boutique means for Gucci. “The opening of our first Gucci Valigeria boutique on Rue Saint-Honoré represents the next stage in our ongoing strategy to reinforce our leadership in the travel category,” he said. “Gucci Valigeria is a powerful reminder of our Florentine roots and timeless craftsmanship.”
Bizzarri confirmed that the brand has plans to open more luggage-only stores in “other iconic destinations in the city” in the future.
Fendi presented its state-of-the-art Tuscany factory
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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 specialist architecture team and Milan-based architecture studio Piuarch.
The strikingly contemporary yet minimalist factory blends into its surroundings in a natural shade of warm tan, its roof covered in a lush garden. Inside, the innovative building houses a production warehouse, workshops, offices, a leather-making school, and a restaurant.
Moncler Genius will show up at London Fashion Week 2023
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Moncler CEO Remo Ruffini’s collaborative project, Moncler Genius, will be on display during London Fashion Week this February.
The French luxury brand launched the Genius label in 2018, with the intention of infusing the works of the industry’s leading creatives and designers into Moncler’s DNA. In the past, Genius has worked with the likes of CSM grad DingYun Zhang, Craig Green, and the Palm Angels.
The Moncler Genius show will take place on February 20, 2023. Ruffini has not yet announced the list of talents that will be featured in this upcoming collection.
The Christian Dior: Designer of Dreams exhibition has arrived in Tokyo
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After receiving high praise for its performance in Paris, the Christian Dior: Designer of Dreams exhibition heads to Tokyo.
The exhibition will further amplify Dior’s influence in Japan, one of the French brand’s strongest markets. Paying tribute to the country, the showcase includes a new scenic narrative, crafted by architect Shohei Shigematsu, highlighting more than 75 years of the brand’s couture designs, along with traditional Japanese cultural elements.
In an interview with AFP, Shigematsu explained: “When Dior makes a skirt, there is a structure and then the fabric is placed on top. They asked me to create a traditional Japanese structure, so I thought of shoji screens, for example, which have a wooden structure and are covered with paper.”
The start of Christian Dior: Designer of Dreams is now open at the Tokyo Museum of Contemporary Art. It will remain on view until May 28, 2023.
Chanel will re-present its previous Dakar Métiers d’Art Show in Tokyo
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In light of the success of the Métier d’Art Dakar Collection 2022/23, Chanel has announced that it will re-present the show in Tokyo in 2023.
The collection first debuted at the former Palais de Justice in Dakar, Senegal, on December 6. Emphasizing rich colors and beaded and sequined embroideries, the line is very Chanel, with its fair share of flared trousers in the Maison’s heritage tweeds. .
The Dakar show drew a high-profile audience, with attendees including house spokesperson Pharrell Williams, Naomi Campbell, Whitney Peak, Nile Rodgers, Princess Caroline of Monaco and her daughter Charlotte Casiraghi. It should be noted that the show was part of a three-day cultural program in the Senegalese city.
The Chanel show in Tokyo will take place on June 1, 2023.
Source: news.google.com