London Kicks Off Fashion Week, Dedicated to Late Vivienne Westwood

Will Young attends the memorial for fashion designer Vivienne Westwood in London, Britain, Britain February 16, 2023. REUTERS/Maja Smiejkowska
Will Young attends the memorial for fashion designer Vivienne Westwood in London, Britain, Britain February 16, 2023. REUTERS/Maja Smiejkowska
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London Kicks Off Fashion Week, Dedicated to Late Vivienne Westwood

Will Young attends the memorial for fashion designer Vivienne Westwood in London, Britain, Britain February 16, 2023. REUTERS/Maja Smiejkowska
Will Young attends the memorial for fashion designer Vivienne Westwood in London, Britain, Britain February 16, 2023. REUTERS/Maja Smiejkowska

London Fashion Week kicked off on Friday, with organizers dedicating the five-day event to late designer Vivienne Westwood, who died in December.

Five days of catwalk shows and presentations take place all over the city, in the second leg of the month-long catwalk calendar that began in New York, Reuters said.

Westwood, who died aged 81, was one of British fashion's biggest names. She rose to fame dressing the Sex Pistols, becoming synonymous with 1970s punk rock, and was known for her rebellious designs.

An avid campaigner, she used her runways to address issues she felt strongly about: climate change, pollution and her support for WikiLeaks founder Julian Assange.

"She represented everything that was brilliant about the intersection of Britishness and fashion. She was an activist.

She used her platform to talk about climate change, civil rights, free speech. She is the embodiment of our extraordinary industry," British Fashion Council (BFC) chair David Pemsel told London's Evening Standard newspaper.

"It is only right and appropriate that we dedicate the entire week to her. We must celebrate her contribution as she was extraordinary and unique."

On Thursday celebrities, models and fashion editors gathered at London's Southwark Cathedral for a memorial service for Westwood.

"She set such a high standard and she was fun to work with," designer Paul Costelloe who held his catwalk show on Friday morning, told Reuters.

"London is empty because she is gone." Costelloe turned to James Joyce’s novel "Ulysses" for inspiration for his latest collection featuring smart knitwear in shades of brown, grey and green as well as dresses adorned with floral prints in gold and pink hues.

The 77-year-old designer said the line reflected "the west coast of Ireland – very romantic, very soft, very rich in colors."

This season will include British designer Daniel Lee's debut at Burberry and Italian brand Moncler bringing its Genius collaborative projects to the British capital.

As the public and the fashion world gradually put the worst of the COVID-19 pandemic behind them, polarizing issues such as Russia's invasion of Ukraine have emerged.

A BFC initiative with Ukraine Fashion Week will see three Ukrainian designers presenting their creations.

"One of the things that the pandemic really taught us is that fashion really continuously needs to prove its worth. We are in an era where over-consumption is a real problem," Natasha Bird, ELLE UK’s Executive Editor (Digital), told Reuters.

"Fashion needs to be continually evaluating what it's giving back and showcasing talent that might help the initiative of improving a country post-crisis or while enduring a crisis is a great way to kind of make sure that fashion has some worth and some value beyond just the business of making clothes."



Gucci-owner Kering's Shares Down 5% after Q1 Sales Disappoint

A model presents a creation by the Gucci Fall-Winter 2025/2026 collection during Fashion Week in Milan, Italy, February 25, 2025. REUTERS/STRINGER/File Photo
A model presents a creation by the Gucci Fall-Winter 2025/2026 collection during Fashion Week in Milan, Italy, February 25, 2025. REUTERS/STRINGER/File Photo
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Gucci-owner Kering's Shares Down 5% after Q1 Sales Disappoint

A model presents a creation by the Gucci Fall-Winter 2025/2026 collection during Fashion Week in Milan, Italy, February 25, 2025. REUTERS/STRINGER/File Photo
A model presents a creation by the Gucci Fall-Winter 2025/2026 collection during Fashion Week in Milan, Italy, February 25, 2025. REUTERS/STRINGER/File Photo

Shares of Kering traded down 5% in European morning trade on Thursday, after the group reported a first-quarter sales drop that was worse than analysts' expectations.

Kering after the market close on Wednesday posted a 14% decline in sales, with a 25% drop at flagship label Gucci, the latest signal the luxury sector faces another tough year.

The sales report confirmed "a weakening backdrop" since February, said analysts at Jefferies, noting "the uncertainties around reigniting Gucci's desirability remain plentiful".

The brand, which accounts for around two-thirds of group profits, is betting on in-house talent Demna to revive sales, but new designs will only arrive gradually at the end of the year, Reuters reported.

The French luxury group flagged worsening sales in North America and Western Europe and said it expected sales to continue to fall in double digits, percentage-wise, in the second quarter, before starting to improve.

This leaves the "heavy lifting" for the second half, which will likely depend on a recovery in Chinese demand, noted analysts at Bernstein.

Prospects for the luxury industry, which had pinned hopes on growth from the United States to help pull it out of a slump as the Chinese market remains weak, have been darkened by recession fears prompted by US President Donald Trump's tariff announcements.

As trade tensions have risen, Bellwether LVMH has fallen 23% and Burberry and Kering have both lost 30% since the start of the year. Hermes and Cartier-owner Richemont, viewed by analysts as better insulated from economic downturns because of their wealthier clientele, are up 1% and 3%, respectively.

First-quarter reports from Kering's larger rivals last week also reflected the sector's slowdown and disappointed investors, with sales at LVMH's fashion and leather goods division down 5% while Hermes, which routinely outpaces expectations with double-digit growth, posted a 7% rise.

Analysts at Deutsche Bank on Thursday lowered their 2025 earnings per share estimate for Kering this year by 13% to 8.65 euros ($9.84), citing the company's cautious outlook for the first half, and noting the slowdown in all regions except Asia was slightly worse than peers.

TD Cowen lowered sales forecasts for Gucci this year by 15% to a 20% decline.

The analysts added that Gucci, as well as another Kering label Yves Saint Laurent, were expected to be slower to raise prices to offset tariffs than peers. The Kering labels have a broader base of less-wealthy clients who are more reluctant to splash out in a choppy economic environment.

LVMH, meanwhile, has raised prices of some Louis Vuitton handbags and leather goods by around 4% according to Bernstein and Barclays, while Hermes said it will pass on the full effect of tariffs to shoppers in the United States on May 1.

US tariffs could include a 20% charge on European fashion and leather goods and 31% for Swiss-produced watches if fully applied, but Trump earlier this month paused most of his tariffs for 90 days, setting a general 10% duty rate instead.

The price hikes from Vuitton are "more than enough" to offset even 20% tariffs, said Bernstein.