Leather at Acne Studios, Shaggy Coats at Dries Van Noten for Paris Fashion Week

A model presents a creation by designer Dries Van Noten as part of his Fall-Winter 2024/2025 Women's ready-to-wear collection show during Paris Fashion Week in Paris, France, February 28, 2024. REUTERS/Gonzalo Fuentes
A model presents a creation by designer Dries Van Noten as part of his Fall-Winter 2024/2025 Women's ready-to-wear collection show during Paris Fashion Week in Paris, France, February 28, 2024. REUTERS/Gonzalo Fuentes
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Leather at Acne Studios, Shaggy Coats at Dries Van Noten for Paris Fashion Week

A model presents a creation by designer Dries Van Noten as part of his Fall-Winter 2024/2025 Women's ready-to-wear collection show during Paris Fashion Week in Paris, France, February 28, 2024. REUTERS/Gonzalo Fuentes
A model presents a creation by designer Dries Van Noten as part of his Fall-Winter 2024/2025 Women's ready-to-wear collection show during Paris Fashion Week in Paris, France, February 28, 2024. REUTERS/Gonzalo Fuentes

For his fall/winter runway presentation, Acne Studios creative director Jonny Johansson showed slick, all leather looks and long, tailored jackets on Wednesday at Paris Fashion Week.
The collection was "rooted in toughness and human form, leather and denim," said the show notes, affixed to each seat.
"A celebration of uncompromising femininity." Leather bodysuits had high necks and voluminous sleeves and were left unzipped in the back, while floor-sweeping trench coats were tightly fitted.
Softening the lineup were all-white looks, including a long gown with buttons running down to the navel as well as an earth-coloured dress worn with a thick, furry scarf.
Dries Van Noten, who showed earlier on Wednesday, also featured thick scarves in his catwalk show, including one with sparkles that framed the model's head like a pillow.
The Puig-owned label's lineup came in pastels, grey and light browns, and included coats and bomber jackets with rounded shoulders, as well as tailored suits embellished with shimmery beadwork.
"It’s the way that he drapes, it’s the way that he styles, it’s the way that he designs these clothes — there’s always a woman in mind," said fashion commentator Hanan Besovic, known for his Instagram account @ideservecouture.
French-Moroccan creative director Charaf Tajer also held a runway show on Wednesday, for his label Casablanca's collection called "Venus as a Boy."
Held in the historic Paris Bouglione circus house, models walked the circular runway showcasing sporty tracksuits, cheerleader skirts and sheer, fitted skirts with slits.
Paris Fashion Week runs through March 5, with upcoming shows from Chanel, Hermes, Kering-owned Balenciaga and LVMH's Louis Vuitton.



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.