Paris Fashion Week: Valentino Puts on Opulent Study in Black, as McGirr Unveils McQueen Debut

 A model wears a creation as part of the Valentino Fall/Winter 2024-2025 ready-to-wear collection presented Sunday, March 3, 2024 in Paris. (AP)
A model wears a creation as part of the Valentino Fall/Winter 2024-2025 ready-to-wear collection presented Sunday, March 3, 2024 in Paris. (AP)
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Paris Fashion Week: Valentino Puts on Opulent Study in Black, as McGirr Unveils McQueen Debut

 A model wears a creation as part of the Valentino Fall/Winter 2024-2025 ready-to-wear collection presented Sunday, March 3, 2024 in Paris. (AP)
A model wears a creation as part of the Valentino Fall/Winter 2024-2025 ready-to-wear collection presented Sunday, March 3, 2024 in Paris. (AP)

The gilded salons of a grand 18th-century townhouse were the hallowed venue for Valentino’s latest fashion display on Sunday – an ode to black. This monochromatic collection gleamed and glistened under crystal chandeliers amid myriad textures and materials, inspired by great artists such as the French master of black, Pierre Soulages

Moons away, in the shadowy expanse of an icy-cold industrial warehouse crisscrossed by disused iron tracks and raw concrete surfaces, Alexander McQueen’s shivering guests huddled under blankets, buzzing with an air of electric anticipation. Because this wasn’t just another fashion show: it marked the first page of a new chapter for a house steeped in an iconoclastic history — and the debut of new creative director Sean McGirr.

Here are some highlights of fall-winter ready-to-wear collections:

VALENTINO’S NOIR Designer Pierpaolo Piccioli said he “approached black as a canvas, a starting point on which to build ... silhouettes that could move while looking for lights around, to soak them in and reflect them.”

The couturier was fascinated by the color’s contradictions — used for uniform and individuality, representing sobriety and exuberance, lacking light yet soaking up reflections. It evoked the philosophy of Soulages, who died in 2022.

Thus, with a tinge of Valentino’s 1980s heyday and glamor, all-black looks sauntered by as daywear and evening merged indistinguishably owing to the color’s intense allure.

Signature house looks were reimagined with a modern flair — think a voluminous black rosette adorning a sleeve, or the delicate tease of skin beneath tiered silk, not to mention sporty A-line skirts accented with tubular ruffles.

Though feathers, leathers, sequins, and lace provided subtle textural tensions, they did not provide enough of a lift to stop the collection from falling into the perennial danger of such one color-themed shows: Feeling one-note.

Nevertheless, the series of gowns that ended collection were a sublime study in chicness, such as one exquisite sheer chiffon floor-sweeping gown. Delicate baubles peppered poetically around it like a constellation of black stars.

ALEXANDER MCQUEEN’S NEW BEGINNINGS The pressure was palpable for McGirr, the relatively unknown 35-year-old Dublin-born designer, to unveil in this debut a vision and identity after 14 illustrious years of Sarah Burton. Burton, who parted ways with McQueen last season, had woven her narrative into the brand’s darkly romantic ethos after its visionary founder’s sudden, tragic death, leaving big shoes to fill.

Tagged “Rough opulence” and intent on “unveiling the animal within,” McGirr’s first foray resonated with the core tenets laid down by Alexander McQueen: a fusion of Gothic allure, a provocation, an ode to historical fashion, and the brand’s hallmark of dramatic tailoring.

The show unfurled with a model emerging from the shadows in a sinisterly twisted black laminated dress that seemed to swallow her hands whole — a striking image of constriction that reappeared throughout the collection. This binding theme was echoed in cords winding around slim-legged jeans and robust boots morphing into horses' hooves, trailing tails, and ominous broad leather coats.

However, designs occasionally verged on the overly obvious, with pattered historic Renaissance sleeve gowns and bulky “car tire”-like knitwear lacking the subtlety associated with his predecessor. Though the collection sparkled with promising moments of audacity, McGirr prioritized a play-it-safe approach over the risk of a misstep by pushing the envelope. This debut may have benefitted from being presented in a less pressurized, lower-octane, and more intimate format.

Nonetheless, amid the collection’s somber reflections, a surprising undercurrent of delight and whimsy surfaced, most notably through the stirring melody of his compatriot Enya’s “Sail Away” filling the air. It infused the space with a buoyant optimism subtly echoed in McGirr’s oft-playful creations.



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.