Dolce & Gabbana Play with the Tuxedo for Womenswear at Milan Fashion

A model presents a creation from the Dolce & Gabbana Fall/Winter 2024 collection during Fashion Week in Milan, Italy, February 24, 2024. (Reuters)
A model presents a creation from the Dolce & Gabbana Fall/Winter 2024 collection during Fashion Week in Milan, Italy, February 24, 2024. (Reuters)
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Dolce & Gabbana Play with the Tuxedo for Womenswear at Milan Fashion

A model presents a creation from the Dolce & Gabbana Fall/Winter 2024 collection during Fashion Week in Milan, Italy, February 24, 2024. (Reuters)
A model presents a creation from the Dolce & Gabbana Fall/Winter 2024 collection during Fashion Week in Milan, Italy, February 24, 2024. (Reuters)

Dolce & Gabbana offered an array of looks inspired by the tuxedo at Milan Fashion Week on Saturday, where the Italian luxury label presented a mainly black womenswear collection for next fall.

The autumn/winter 2024 show, called "Tuxedo", opened with cropped jackets and tied skirts slit at the front, followed by outfits and coats inspired by the formal wear.

Models wore sashes with knee-length shorts or cigarette trousers, halternecks and waistcoats inspired by tuxedo jackets and embroidered lace dresses.

Designers Domenico Dolce and Stefano Gabbana put bows on black sheer blouses as well as shoes, sometimes sparkling.

The looks were mainly all in black, with dabs of leopard print, a few shimmering silver creations and a chiffon blouse and dress adorned in large gold polka dot prints.

Models, including Naomi Campbell, wore black hats with netted veils.

Earlier at Ferragamo, designer Maximilian Davis looked to the 1920s for inspiration, presenting dresses with dropped waistlines, feather embellishments or sequins.

Wool jackets and coats with broad shoulders were contrasted with organdie dresses and sheer skirts in the collection called "Spirit", and which featured autumnal hues, bright red, mustard and black. Footwear consisted of thigh-high boots, stilettos and shoes adorned with feathers.

"The 1920s used clothing as a way to celebrate freedom,” Davis said in show notes.

“And that expression of freedom is something which resonates with me, with my heritage, and with Ferragamo.”

Milan Fashion Week runs until Monday.



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.