Milan Fashion Week to Mourn Armani, Welcome New Stars

The death of legendary Italian designer Giorgio Armani (C), seen here at 2009's Milan Fashion Week, will overshadow this year's event. Giuseppe CACACE / AFP/File
The death of legendary Italian designer Giorgio Armani (C), seen here at 2009's Milan Fashion Week, will overshadow this year's event. Giuseppe CACACE / AFP/File
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Milan Fashion Week to Mourn Armani, Welcome New Stars

The death of legendary Italian designer Giorgio Armani (C), seen here at 2009's Milan Fashion Week, will overshadow this year's event. Giuseppe CACACE / AFP/File
The death of legendary Italian designer Giorgio Armani (C), seen here at 2009's Milan Fashion Week, will overshadow this year's event. Giuseppe CACACE / AFP/File

Milan Fashion Week opens Tuesday, a feast of Italian style set to be dominated by the late Giorgio Armani's final collections and new faces at Gucci and Versace.

Prada, Dolce & Gabbana, Max Mara, Fendi, Roberto Cavalli, Ferragamo and Bottega Veneta are among those showcasing their Spring/Summer 2026 women's collections throughout the week, said AFP.

But the event will be overshadowed by the death this month of Armani, the legendary 91-year-old head of a multi-billion-euro empire who helped put Milan on the fashion map.

Sunday's Giorgio Armani show was already going to be a grand affair, the culmination of celebrations marking 50 years of the label beloved of the Hollywood A-list.

Staged at Milan's prestigious Pinacoteca di Brera art museum, the show is now expected to act as a final tribute.

The museum is also hosting from September 24 until January 11 an anniversary exhibition of Armani's top 150 creations, a project long in the making on which the designer worked "until the last minute", according to the group.

"We celebrate Milan Fashion Week in memory of one of its founders: Giorgio Armani," the head of Italy's chamber of fashion, Carlo Capasa, said earlier this month.

He said Armani offered "creative, entrepreneurial, and human lessons" to the industry at a time of transformation, "in which vision, quality, and consistency represent essential values."

New beginnings

But even as the Milan fashion world mourns its king, this week will also see several hotly anticipated debuts, notably Georgian designer Demna at Gucci.

After a decade at Balenciaga, Demna is now charged with reversing a slump in sales at the Italian brand owned by French giant Kering -- arguably one of the toughest jobs in the luxury industry.

Gucci is not on the official catwalk calendar in Milan, but a private event is scheduled for Tuesday evening.

"If I understand correctly, it's a presentation, a film that will be kind of Demna's vision, how he interprets Gucci," Kering's new chief executive, Luca de Meo, told reporters earlier this month.

"It's going to be something a little different. I haven't been allowed to watch it yet."

Meanwhile, Dario Vitale is making his debut at Versace, after taking over on April 1 from Donatella Versace, who was creative director for nearly 30 years.

Again, no catwalk show is scheduled for the flashy brand, which was acquired by Prada just weeks after Vitale took over.

Instead, on Friday night, there will be an "intimate event, revealing Dario Vitale's debut collection for the House. A unique unveiling, embodying Versace's foundations and reflecting Vitale's new language", according to the program.

Chinese confidence collapse

Other debuts include England's Louise Trotter, presenting her first catwalk show for Kering brand Bottega Veneta, and Italian Simone Bellotti for Jil Sander.

They are part of an industry-wide shake-up, including at Dior and Chanel, at a time when luxury brands are still struggling with slowing demand in China and global economic uncertainty.

Luca Solca, a luxury sector analyst at Bernstein, said there were small signs of an improvement in Chinese confidence, with an uptick in in-store traffic over the summer.

But he noted that "with prices going up, you need to give at least something new to consumers".

"I think that this unprecedented amount of change in creative responsibilities is responding to this imperative," he told AFP.



Kering Seeks to 'Reignite Desirability' with Gucci Reset

(FILES) This illustrative photograph shows screens displaying the logo of the French company Kering, listed on the CAC 40, the main stock market index of the Paris Stock Exchange, in Toulouse on March 31, 2026. (Photo by Lionel BONAVENTURE / AFP)
(FILES) This illustrative photograph shows screens displaying the logo of the French company Kering, listed on the CAC 40, the main stock market index of the Paris Stock Exchange, in Toulouse on March 31, 2026. (Photo by Lionel BONAVENTURE / AFP)
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Kering Seeks to 'Reignite Desirability' with Gucci Reset

(FILES) This illustrative photograph shows screens displaying the logo of the French company Kering, listed on the CAC 40, the main stock market index of the Paris Stock Exchange, in Toulouse on March 31, 2026. (Photo by Lionel BONAVENTURE / AFP)
(FILES) This illustrative photograph shows screens displaying the logo of the French company Kering, listed on the CAC 40, the main stock market index of the Paris Stock Exchange, in Toulouse on March 31, 2026. (Photo by Lionel BONAVENTURE / AFP)

French luxury group Kering vowed Thursday to "reignite desirability" of its flagging Gucci label, once the jet set's most coveted brand, as it seeks to turn around its financial performance.

The giant Paris-based fashion conglomerate, which also owns Yves Saint Laurent and Bottega Veneta, chose Florence, the birthplace of its flagship double-G brand, to unveil its turnaround plans to investors.

Kering plans a "structural reset" to be completed by the end of the year that will make it more efficient in order to improve margins and restore financial discipline to its brands, AFP quoted the company as saying.

Kering promises to offer "the agility of a challenger, a renewed focus on desirability and a stronger commitment to execution," Chief Executive Luca de Meo said in a statement.

Whether Kering's new plan -- called ReconKering -- will be enough to revive the struggling Gucci brand is yet to be seen, especially given the tough selling environment facing the entire luxury sector amid geopolitical tensions and more cautious consumer spending.

Long the bright spot in Kering's portfolio and the darling of the fashion set before the Covid pandemic, sales of Gucci have since slumped by over a third to six billion euros last year.

While Gucci accounted for two-thirds of Kering's sales in 2019, that share fell to under 40 percent in 2025, pointing to its lackluster reception by luxury shoppers.

Profitability also sagged over this period.

Last year, Kering brought in Georgian Gen Z streetwear favorite Demna as Gucci's new artistic director while poaching De Meo from Renault, where he revitalized the automaker's lineup and financial performance.

Kering said it will go about "reigniting desirability by refocusing the brand around what makes it unmistakably Gucci, with clear creative direction, disciplined codes and a revitalized heritage with true cultural impact."

Sales in Gucci's first quarter declined by 14 percent to 1.35 billion euros, hit by shrinking demand in its key market of China and a cautious consumer environment due to the war in the Middle East.

Shares of Kering fell nearly two percent on the Paris stock exchange, underscoring investor's tepid response to the turnaround plans.

Kering gave few clues as to how exactly it would right the ship at Gucci, which enjoyed its headiest days under designer Tom Ford in the 1990s, who turned the leather goods brand into a fashion powerhouse beloved of the jetset.

"Gucci has had all sorts of issues. It's had issues on distribution. It's had issues on product. It's had issues on pricing," said Flavio Cereda, a luxury sector specialist at GAM, an investment firm, ahead of the investor day.

"Do people care about Gucci today? I don't think they do. Can people care about Gucci in six months' time? It's perfectly possible. We just don't know."

Kering said a new group platform will consolidate key functions such as purchasing, logistics, research and development and quality control for all its brands.

That will allow each brand within the portfolio to operate with more "power, speed and efficiency", Kering said.

For the group as a whole, Kering envisions doubling its recurring operating margin in the medium term to reach at least 22 percent, while improving its return on capital -- another measure of profitability -- by 20 percent, helped by more controlled inventory and selective investments.

By the end of 2028, Kering said, the group "will be in a phase of renewed, sustainable growth."


Kering Shares Slide After Gucci Sales Disappoint

A logo of fashion house Gucci is seen outside a shop in Paris, France, April 15, 2024. (Reuters)
A logo of fashion house Gucci is seen outside a shop in Paris, France, April 15, 2024. (Reuters)
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Kering Shares Slide After Gucci Sales Disappoint

A logo of fashion house Gucci is seen outside a shop in Paris, France, April 15, 2024. (Reuters)
A logo of fashion house Gucci is seen outside a shop in Paris, France, April 15, 2024. (Reuters)

Kering shares plunged as much as 10% on Wednesday after first-quarter sales at its Italian flagship brand Gucci dropped more than expected, underlining the challenges in reviving the brand's appeal.

Gucci sales fell 8%, the 11th straight quarterly decline, as the Iran war weighed on spending by Middle Eastern shoppers and curtailed international travel.

Shares ‌were down ‌8.5% to 255 euros at ‌0827 ⁠GMT and on ⁠track for their steepest daily decline in more than a year.

The result came days before Kering CEO Luca de Meo is due to unveil his strategic plan to turn around the 33-billion-euro ($39 ⁠billion) group's fortunes.

"While guidance was ‌confirmed, the timeline ‌for a Gucci turnaround remains uncertain and likely ‌gradual, against a challenging macro backdrop and ‌ongoing geopolitical tensions," Citi analysts wrote.

Like larger peers LVMH and Hermes, Kering is facing deteriorating demand from customers impacted by the conflict in the ‌Middle East.

Kering said it had seen strong demand for Gucci ⁠products ⁠in North America, but JPMorgan analysts said this was likely a trend for all luxury brands, rather than just Gucci, and pointed to double-digit declines in all other regions.

"This suggests, in our view, that the turnaround will take a lot longer, and much more work, than the bulls would hope for," they said.

Kering shares are down around 7% so far in 2026.


Texas Attorney General Probes Lululemon over Potential 'Forever Chemicals'

FILE PHOTO: A Lululemon sign is seen at a shopping mall in San Diego, California, US, November, 23, 2022.  REUTERS/Mike Blake//File Photo
FILE PHOTO: A Lululemon sign is seen at a shopping mall in San Diego, California, US, November, 23, 2022. REUTERS/Mike Blake//File Photo
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Texas Attorney General Probes Lululemon over Potential 'Forever Chemicals'

FILE PHOTO: A Lululemon sign is seen at a shopping mall in San Diego, California, US, November, 23, 2022.  REUTERS/Mike Blake//File Photo
FILE PHOTO: A Lululemon sign is seen at a shopping mall in San Diego, California, US, November, 23, 2022. REUTERS/Mike Blake//File Photo

Texas Attorney General Ken Paxton has launched an investigation into athleisure brand Lululemon over the potential presence of "forever chemicals" in its activewear, he said on Monday in a post on social-media platform X.

The probe will examine whether Lululemon's athletic apparel contains PFAS, which the brand's health-conscious customers would not expect based on its marketing, Paxton said. PFAS, or per- and polyfluoroalkyl substances, are a group of widely used materials called "forever chemicals" because they do ⁠not break down easily ⁠in nature.

"Lululemon does not use PFAS in its products," a company spokesperson said, adding it phased out the substance in fiscal 2023, after limited use in durable water repellent products.

According to Reuters, Attorney General Paxton said emerging research and consumer concerns have raised ⁠questions about whether certain synthetic materials in the apparel could be linked to endocrine disruption, infertility, cancer and other health risks.

PFAS are associated with harmful health effects in humans and animals, according to the US Environmental Protection Agency.

The Office of the Attorney General will examine Lululemon's testing protocols, restricted substances list and supply chain practices against state safety standards.

"If Lululemon has violated Texas law, it will be ⁠held accountable," Paxton ⁠said in his post.

The company spokesperson said they are aware of the inquiry and are cooperating.

Earlier this year, the company had to pull its "Get Low" workout collection from its website following user complaints, only resuming online sales after addressing the issues.

Lululemon, which appointed a former chief of jeans maker Levi Strauss to the board last month, has forecast weak annual results amid tepid demand and an ongoing proxy fight with its founder.