Milan Fashion Week Goes on under Shadow of Russian Attack

Gigi Hadid wears a creation as part of the Moschino Fall/Winter 2022-2023 fashion collection, unveiled during the Fashion Week in Milan, Italy, Thursday, Feb. 24, 2022. (AP)
Gigi Hadid wears a creation as part of the Moschino Fall/Winter 2022-2023 fashion collection, unveiled during the Fashion Week in Milan, Italy, Thursday, Feb. 24, 2022. (AP)
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Milan Fashion Week Goes on under Shadow of Russian Attack

Gigi Hadid wears a creation as part of the Moschino Fall/Winter 2022-2023 fashion collection, unveiled during the Fashion Week in Milan, Italy, Thursday, Feb. 24, 2022. (AP)
Gigi Hadid wears a creation as part of the Moschino Fall/Winter 2022-2023 fashion collection, unveiled during the Fashion Week in Milan, Italy, Thursday, Feb. 24, 2022. (AP)

Milan Fashion Week continued Thursday under the shadow of the Russian invasion of Ukraine and the possible economic repercussions as the West moves toward tighter sanctions.

The head of the Italian fashion council said more than 1 billion euros worth of luxury exports to Russia could be at risk, even as Russian buyers return to Milan for the first time since the pandemic thanks to a deal brokered with the government to recognize the Sputnik V for business travelers.

“If things continue like this, there will be damage,’’ Carlo Capasa, president of the Italian National Fashion Chamber, told The Associated Press. “But it is not even the moment to think about the economic damage, but instead the damage that man does to himself.”

Even if the runways didn't reflect it, the invasion was running in the background as the fashion world made their rounds, and the realization that once again, the world can change in a flash. It was exactly two years ago during the February fashion week previews that the first case in the West of locally transmitted virus was detected near Milan.

"We're coming out of the pandemic. I don't want to think about a European war. I think we have had enough,'' said Arianna Casadei, the third generation of a shoe-making family from Italy's Emilia Romagna coast.

Highlights from Thursday’s preview shows of mostly womenswear for next fall and winter:

Prada’s pragmatism
Make way for the Prada tank top as the new staple for next winter as Miuccia Prada and Raf Simons mark the second year of their creative collaboration.

The simple white branded tank grounds a collection that employs the sheers from eveningwear as durable daytime looks layered with practical tanks and panties, enveloped in masculine overcoats made pretty with wispy faux fur and feathers applied like arm bands.

The skirt of the season is made in three tiers, like confections, mixing up leather, knits, velvet and sheers, sometimes adorned with sequins and rhinestones. It all has the air of upcycling and easily personalized looks.

Jackets also had feminine cutouts, and were adorned with thick ornamental chains that drape, without enclosing. They were worn with sturdy pleated wool skirts with a 1950s flair.

Simons said the collection echoes “revolutionary moments in Prada’s history.”

“The collection is about the history of women, the history of people, not the history of fashion,’’ Prada said in notes.

Moschino’s girls without guilt
Nothing quite says “Let Them Eat Cake” more than a runway show that features looks crafted to resemble furnishings in a European palace of some bygone century. So was Jeremy Scott’s brocade- and velvet-rich collection for Moschino.

Scott had his fun, sending out one model with the motto: “Gilt without Guilt,” and he had multiple jokes about breasts, at one point serving them up pointedly on a silver platter. But beneath the lamp-shade, candelabra and bird cage hats and beyond the grandfather clock dress, the collection featured day suits in bright patterns mimicking Oriental rugs, as well as an array of smart office dresses with pretty piping and button details.

There was also black eveningwear, like the elegant gown with sculpted details around the bare neck worn with opera gloves by Bella Hadid.

In a final flourish, Gigi Hadid twirled off the runway in a gold lame’ gown with a tulle mermaid finish, golden ivy running up her arms as if a statuette.

Scott took a final bow dressed as an astronaut, a nod to the opening music from a “Space Odyssey” but otherwise a head-scratcher.

Emporio Armani’s color play
In a sign that the pandemic is at last easing, Emporio Armani opened up hundreds of seats in its two shows to employees after officials gave the OK to allow full seating.

Giorgio Armani’s line for youthful dressers combined menswear with womenswear after the house postponed the January men’s show due to a virus surge. The merging provided a perfect complement, with geometric motifs running through both collections — in shades of gray for men contrasting with the pink, coral, seafoam green, red and blues for women.

For her, there were flouncy skirts with structured jackets, soft velvety pants with bold silken blouses. Men wore soft jackets tied at the waist, with off-kilter hats and easy-fitting trousers.

Sunnei’s sprint
Loris Messina and Simone Rizzo literally had models sprinting down an outdoor runway for their Sunnei, and in a tongue-in-cheek comment on how fast the fashion world moves, asked guests to film them only in slow motion.

A faux bossy female voice warned that they would be checking all Instagram posts for scofflaws. ”We like to create a moment, to have people enter in our world,'' Rizzo said.

Rizzo said the pair had always envisioned a fast-moving runway, and came up with a collection that reflected that, including wide-legged trousers and leggings, but also thick fuzzy knitwear and rubberized accessories that gave tell-tale signs of motion.

“We were thinking about the kind of girl living right now, who is always running,'' Rizzo said. But he also saw ties to the greater global situation. “We were thinking about how we all run around without thinking of what is going on around. Even what is happening right now in the world makes us understand we really need to calm down.”

Max Mara volumes
Max Mara offered cold weather wear for next winter that envelopes with dramatic silhouettes. Tight bodices give way to teddy bear fuzzy big skirts. Trousers are wide-legged and cuffed, worn with fanny packs that double as hand muffs.

A geometrical motif ran through the collection, from raised patterns on sock booties to square quilting on puffer jackets that provided a studied contrast to ribbing on knitwear. The house’s monochromes ran from basic camel and black and white to flashes of red and yellow.



France Takes Aim at Ultra-Fast Fashion with New Levy

The logo of Temu, an e-commerce platform owned by PDD Holdings, is seen on a mobile phone displayed in front of its website, in this illustration picture taken April 26, 2023. (Reuters)
The logo of Temu, an e-commerce platform owned by PDD Holdings, is seen on a mobile phone displayed in front of its website, in this illustration picture taken April 26, 2023. (Reuters)
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France Takes Aim at Ultra-Fast Fashion with New Levy

The logo of Temu, an e-commerce platform owned by PDD Holdings, is seen on a mobile phone displayed in front of its website, in this illustration picture taken April 26, 2023. (Reuters)
The logo of Temu, an e-commerce platform owned by PDD Holdings, is seen on a mobile phone displayed in front of its website, in this illustration picture taken April 26, 2023. (Reuters)

France will from Tuesday impose a fee on ultra-fast fashion items that will eventually reach almost 20 euros per garment, as the government targets major Asian e-commerce platforms including Shein.

The levy follows legislation passed by the French parliament in June to regulate so-called "ultra-fast fashion" companies, known for selling large volumes of lower quality clothing at rock-bottom prices.

It is part of a push to rein in Asian e-commerce giants including Shein, Temu and AliExpress, which have exploded in popularity in France in recent years.

"The harmful effects of ultra-fast fashion on our environment and our economy are well known and documented," said Mathieu Lefevre, the minister for ecological transition on Friday as details of the measure were published.

Under the legislation, ultra-fast fashion will be determined according to two criteria: the volume of clothing placed on the market and the cost of repairing garments relative to their purchase price.

The per-item fee will vary on a set scale according to how each product scores on both these standards.

In 2026, companies will pay fines such as a 50-cent levy on underwear falling into the ultra-fast fashion category, rising to two euros for T-shirts, nine euros for jeans and 12 euros for a jacket.

The levy could reach up to 19.50 euros ($22.60) per item by 2030, though the cap remains at 50 percent of the product's pre-tax price.

A tool to collect data independently, rather than relying solely on companies' own declarations, is under development, Lefevre's office said.

Shein, which on Monday was valued at $26.3 billion in its long-awaited Hong Kong initial public offering, declined to comment when contacted by AFP.

Temu and AliExpress did not immediately respond to requests for comment.

The measure has faced criticism over which retailers it will affect.

In July, Lefevre's office said the levy would not apply to retailers such as H&M or Zara, prompting some to say that the measure appeared to spare European and French companies.

French officials have made repeated statements that they view Shein, Temu and AliExpress as driving the surge in ultra-fast fashion.

The European Commission had also raised questions over whether the legislation complied with EU law, but Lefevre's office said those concerns had been "dispelled" and the measure was not expected to be blocked.

China meanwhile warned in July of potential retaliation over the French law, slamming the regulation as "discriminatory" and in violation of trade principles.

Imports of small parcels from China into the EU have already fallen by around 30 to 40 percent since a separate three-euro EU levy on such shipments came into force on July 1, according to the French government.


Shein Prices Hong Kong IPO at Midpoint of Range, Raises $1.74 Billion

FILE PHOTO: A view of the reception of fast-fashion brand Shein's office in Sao Paulo, Brazil, December 15, 2025. REUTERS/Jorge Silva/File Photo
FILE PHOTO: A view of the reception of fast-fashion brand Shein's office in Sao Paulo, Brazil, December 15, 2025. REUTERS/Jorge Silva/File Photo
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Shein Prices Hong Kong IPO at Midpoint of Range, Raises $1.74 Billion

FILE PHOTO: A view of the reception of fast-fashion brand Shein's office in Sao Paulo, Brazil, December 15, 2025. REUTERS/Jorge Silva/File Photo
FILE PHOTO: A view of the reception of fast-fashion brand Shein's office in Sao Paulo, Brazil, December 15, 2025. REUTERS/Jorge Silva/File Photo

Shein on Monday priced its initial public offering in Hong Kong at the midpoint of its marketed range, raising HK$13.60 billion ($1.74 billion) from the share sale.

The online fast-fashion retailer offered 280 million shares for the listing at HK$48.56 per share, below the maximum offer price of HK$49.50 apiece announced last week, Reuters reported.

The Hong Kong public offering portion was subscribed 5.63 times, while the international offering was subscribed 2.59 times, Shein said in a stock exchange filing.

The long-awaited market debut comes after the online retailer, known for selling $5 dresses and $10 jeans to shoppers in about 160 countries, scrapped plans to list in New York and London.

Shein in an exchange filing last week said that most of the funds from the offering would be utilised to improve its technology and increase brand awareness and global presence.

The Singapore-based, Chinese-founded company's shares are slated to debut on the Hong Kong stock exchange on Tuesday.


Gap Climbs After Leadership Change at Old Navy, Profit Forecast Raise

A person shops at a Gap store in Times Square in New York City, US, November 28, 2024. (Reuters)
A person shops at a Gap store in Times Square in New York City, US, November 28, 2024. (Reuters)
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Gap Climbs After Leadership Change at Old Navy, Profit Forecast Raise

A person shops at a Gap store in Times Square in New York City, US, November 28, 2024. (Reuters)
A person shops at a Gap store in Times Square in New York City, US, November 28, 2024. (Reuters)

Gap's shares jumped as much as 24.1% to a four-month high, after the apparel retailer named industry veteran Michael Francis as CEO of Old Navy, a move aimed at reinvigorating the brand in a challenging spending environment.

Old Navy, Gap's biggest brand, has struggled to gain traction in select women's apparel categories in recent quarters, a key hurdle in the company's turnaround.

Since CEO Richard Dickson took charge in 2023, Gap has revamped its leadership and ‌marketing, boosting Gap ‌and Banana Republic, but Old Navy continues ‌to ⁠lag.

"It is true ⁠that the family demographic that Old Navy serves is under pressure, but Old Navy did not give them enough reasons to buy," said Neil Saunders, managing director of GlobalData, adding that the weakness points to a broader problem that Gap can no longer pass off as a "modest range misstep".

Gap shares were trading 15% ⁠higher at $23.95, and could add about $1.14 billion to ‌the company's market value if gains ‌hold.

Some retailers are bringing new leaders on board to revive their ‌struggling brands. Tapestry's Kate Spade last month appointed renowned designer Jonathan ‌Saunders as executive creative director.

"The appointment of a new Old Navy leader underscores management's focus on stabilizing performance at the company's largest banner," Jefferies analysts said in a note.

Francis joined Gap in March as Old ‌Navy's chief customer officer. He brings over four decades of marketing, commercial and business transformation experience, ⁠including roles ⁠at Target and Walmart.

Gap lifted its annual profit forecast after topping quarterly estimates. However, it narrowed its fiscal 2026 sales growth target, citing economic uncertainty.

Its quarterly comparable sales grew about 10%, while at Old Navy they were down 4%, the first decline in 12 quarters.

The company's forward 12-month price-to-earnings ratio stood at 8.33, compared with American Eagle Outfitters' 8.94 and Urban Outfitters' 11.93.

"Gap should be able to end the full fiscal year on a positive sales note, but it needs to get the big engine of Old Navy whirring again to keep advancing at a convincing pace," Saunders said.