Thom Browne Closes Out NY Fashion Week with a Black-And-White Flourish and a Nod to Edgar Allan Poe 

Models walk the runway during the Thom Browne Fall 2024 fashion show at New York Fashion Week, February 14, 2024 in New York City. (AFP)
Models walk the runway during the Thom Browne Fall 2024 fashion show at New York Fashion Week, February 14, 2024 in New York City. (AFP)
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Thom Browne Closes Out NY Fashion Week with a Black-And-White Flourish and a Nod to Edgar Allan Poe 

Models walk the runway during the Thom Browne Fall 2024 fashion show at New York Fashion Week, February 14, 2024 in New York City. (AFP)
Models walk the runway during the Thom Browne Fall 2024 fashion show at New York Fashion Week, February 14, 2024 in New York City. (AFP)

Thom Browne, ever the master showman of American fashion, closed out New York Fashion Week on a blustery day with his own wintry landscape, blanketing the floor with fake snow and presenting his latest inventive designs to the words of Edgar Allan Poe’s chilling “The Raven.”

With celebrities like Janet Jackson and Queen Latifah in the front row Wednesday evening at a theater space on the far west side of Manhattan, Browne did what he does best, displaying feats of intricate tailoring and taking his time to weave a tale. His soundtrack narrator was Carrie Coon, star of “The Gilded Age,” who recited Poe’s bleak story of a lover mourning his lost love, Lenore, when he is visited by the black, thick-necked bird who constantly repeats, “Nevermore! Nevermore!”

Nobody in fashion is a better storyteller than Browne, now chairman of the Council of Fashion Designers of America, who over the years has placed his shows in mock cathedrals, magical gardens, even on faraway planets. As always, Browne’s models did not strut a runway but instead were players in his fantasy, walking deliberately and serenely around a wintry wasteland filled with snow and bare trees.

As the audience filed in, one of those “trees,” a man on stilts in a huge puffer coat, or gown, stood silently. Once the drama began, four young children emerged from that coat — as if he were a darker version of Mother Ginger from “The Nutcracker” — eventually sitting in the snow as the poem began.

“While I nodded, nearly napping, suddenly there came a tapping,” Poe’s words went, “as of some one gently rapping, rapping at my chamber door.” The procession began. Of nearly 50 looks, everything was in black-and-white — typical of Browne’s color discipline — with a little gold at the end.

The Poe theme was everpresent. In the first look, an imposing black headpiece made it seem like a raven was perched on the model’s head. In the second, black birds emblazoned a white coat that itself covered a black jacket and skirt.

It was a hugely inventive array of coats and jackets and skirts and trousers — and sometimes no trousers at all. There were solids and checks and prints. Some ensembles were fully formed and others had a deconstructed feel that is a longtime design theme of Browne’s. Each ensemble was a work of layered and intricate tailoring, the hallmark of a designer who recently was invited to show haute couture in Paris.

Some silhouettes were long and sleek, others boxy or cinched tightly at the waist. Bags included a number of variations of the Hector — a dog-shaped bag in honor of Browne’s pet of the same name. The bags were covered, said the label, by a removable layer of waterproof vinyl, also used on the shoes.

For whimsy, the word “Nevermore” from the poem was emblazoned on the backs of a few jackets. And there was a rare hint of skin for the label — a sheer black blouse covered with roses and a sheer skirt. As for the hair, it was hair-raising — literally. Many models wore two braids that defied gravity, reaching upward toward the sky.

“The Raven” hardly ends on a cheery note. Indeed, Coon ended it with frightening screams of “Nevermore!” But for Browne and his audience it was Valentine’s Day. And so, as he’s done before, Browne turned his post-show bow into a romantic gesture, carrying a huge red heart-shaped box, presumably of chocolates.

The crowd seemed to launch into a collective “Aww.” Then, as people prepared to file out into the freezing night, many first stopped to tromp on the fake snow and greet the tall human tree — who obliged by shaking his branches.



Nike Shares Jump as Ackman’s Return Sparks Turnaround Hopes

The logo of Dow Jones Industrial Average stock market index listed company Nike (NKE) is seen in Los Angeles, California, United States, April 12, 2016. (Reuters)
The logo of Dow Jones Industrial Average stock market index listed company Nike (NKE) is seen in Los Angeles, California, United States, April 12, 2016. (Reuters)
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Nike Shares Jump as Ackman’s Return Sparks Turnaround Hopes

The logo of Dow Jones Industrial Average stock market index listed company Nike (NKE) is seen in Los Angeles, California, United States, April 12, 2016. (Reuters)
The logo of Dow Jones Industrial Average stock market index listed company Nike (NKE) is seen in Los Angeles, California, United States, April 12, 2016. (Reuters)

Nike shares gained nearly 4% on Thursday as investors hoped the return of billionaire William Ackman as a stakeholder could spark a turnaround at the sportswear giant that has been battling with strategy missteps and tough competition.

Ackman's hedge fund Pershing Square Capital Management now owns roughly 3 million shares of Nike, amounting to a stake of about 0.19%, a filing showed on Wednesday. He has not revealed any plans for the investment yet.

"He's going to have the ear of the executives at Nike and be able to lend some influence on maybe how to get the ship righted, as it were, for Nike at this point in time to try and find their way back home," said Brian Mulberry, client portfolio manager at Zacks Investment Management, which owned $25.79 million worth of Nike shares as of June.

The stock has lost nearly a third of its value this year and the company has forecast a drop in annual sales for fiscal 2025, leading some Wall Street analysts and investors to raise the possibility of a management shake-up including CEO John Donahoe.

When an activist investor comes in, the ultimate goal "will be replacing the person that sits in the corner office," said Art Hogan, chief market strategist at B Riley Wealth.

"And I say that because the template for that has been very clear this week in the form of Starbucks."

Starbucks poached Chipotle CEO Brian Niccol earlier this week, tapping the industry veteran behind the burrito chain's turnaround to revitalize growth at its coffee outlets.

Niccol joining Chipotle in 2018 was also the result of one of Ackman's pressure campaigns that have often led to CEO changes at companies including J.C. Penney and Air Products and Chemicals.

Ackman last invested in Nike in late 2017, around the time when the company was losing market share in North America to a reinvigorated Adidas.

He exited Nike a few months later in 2018, making roughly $100 million in profit by cashing out of the 0.71% stake - a rare passive investment for the billionaire investor.

Analysts and investors hinted on Thursday it might be early days for Ackman's second stint as an investor at Nike and he will need to build a larger stake to make an impact.

Nike's forward price-to-earnings ratio for the next 12 months, a common benchmark for valuing stocks, was 24.26, compared with Adidas' 36.75.