Valentino Returns to Paris’ Les Beaux-Arts with Modern Twist; Burton Bids Farewell at McQueen

A model wears a creation for the Valentino Spring/Summer 2024 womenswear fashion collection presented Sunday, Oct. 1, 2023 in Paris. (AP)
A model wears a creation for the Valentino Spring/Summer 2024 womenswear fashion collection presented Sunday, Oct. 1, 2023 in Paris. (AP)
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Valentino Returns to Paris’ Les Beaux-Arts with Modern Twist; Burton Bids Farewell at McQueen

A model wears a creation for the Valentino Spring/Summer 2024 womenswear fashion collection presented Sunday, Oct. 1, 2023 in Paris. (AP)
A model wears a creation for the Valentino Spring/Summer 2024 womenswear fashion collection presented Sunday, Oct. 1, 2023 in Paris. (AP)

Valentino took a sentimental journey to Les Beaux-Arts this Sunday, revisiting the prestigious Parisian art school where its founder, Valentino Garavani, was once a student.

Dive into the highlights of this Spring/Summer 2024 ready-to-wear collections from Paris, including the end of an era at Alexander McQueen as its lauded designer Sarah Burton presented her final show.

MODERN BEAT IN HISTORIC HALLS: VALENTINO REIMAGINES SPRING

Amid the backdrop of Mannerist statues and the names of great artists gracing the storied walls of Les Beaux-Arts, where Garavani, 91, once honed his craft, the runway was — in contrast — unmistakably contemporary. Strategically positioned boxes filled with rocks, sand, and earth transformed into platforms for a troupe of sinewy, scantily clad contemporary dancers — who writhed alongside a performance by British singer FKA Twigs.

Designer Pierpaolo Piccioli’s collection focused on the body — in a vivid “celebration of femininity and creativity.” Bursting onto the scene were fresh, sporty minidresses adorned with intricate white florals and foliage. The elegance of an open tuxedo baring flesh, and the simplicity of flowing silk caped dresses made a statement, but there was a sense of familiarity. A pastel gray cape minidress captured attention with its minimalist charm. A chainmail disco mesh-dress shimmered and revealed inches of body.

Yet, the dynamic dance performances often drew eyes away from the fashion. Could it be that the collection, while undeniably modern, needed that extra dose of novelty to truly captivate?

While Piccioli’s designs were a testament to Valentino’s evolving aesthetic, some elements felt reminiscent of past collections or even lacking in fresh ideas, a point that’s been leveled by critics at the designer in the past. Nonetheless, spring marked a blend of the brand’s intrinsic elegance and a desire to pare down styles to their essentials.

BURTON’S SWAN SONG: ECHOING MCQUEEN’S GENIUS, CARVING HER LEGACY

As the Parisian runway glinted under the weight of expectation, Sarah Burton, with a profound respect for legacy and an unmistakable innovative touch, presented her magnum opus for Alexander McQueen Saturday night. Her task had always been titanic – to step into shoes left empty by the enigmatic genius of Lee Alexander McQueen.

The fashion maestro’s unexpected departure wasn’t just a personal loss; it marked the end of an era of theatrical, emotion-laden masterpieces. But Burton, rather than just filling a void, lit it up. She wielded her tapestry of design, interweaving McQueen’s audacious spirit with her softer, more feminine aesthetic. This dance of duality was evident in her farewell collection, where each piece told its story. The slashed bodices, the evocative blood-red laced spines, and the influence of Polish artist Magdalena Abakanowicz’s work showcased an artistry that was both fierce and tender.

The shimmer of glossy leather corsets contrasted with the ethereal shredded gossamer skirts, while other designs teased at deconstruction, with trailing embroidery and dripping silver organza that echoed McQueen’s rebellious early days.

No detail was left untouched. From the profound artistry of Kate Middleton’s wedding gown – a garment that transcended royal expectations – to her final collection’s poignant motifs, Burton proved her mettle time and again. The iconic rose, emblematic open-heart embroidery, and the magnetic close by Naomi Campbell in a sculpted silver bugle bead dress, all converged in a collection that was both homage and evolution.

And as the last piece sashayed down the runway, the room -- filled with powerful editors and actresses like Cate Blanchett and Elle Fanning -- rose in a rousing standing ovation, not just for Burton’s final act but for a legacy beautifully continued and enriched under her stewardship.



Kering’s Fourth-Quarter Sales Fall Less Than Expected as Gucci Slide Continues

The logo of French luxury group Kering is seen at Kering headquarters in Paris, France, February 13, 2023. (Reuters)
The logo of French luxury group Kering is seen at Kering headquarters in Paris, France, February 13, 2023. (Reuters)
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Kering’s Fourth-Quarter Sales Fall Less Than Expected as Gucci Slide Continues

The logo of French luxury group Kering is seen at Kering headquarters in Paris, France, February 13, 2023. (Reuters)
The logo of French luxury group Kering is seen at Kering headquarters in Paris, France, February 13, 2023. (Reuters)

Kering reported on Tuesday a slightly smaller-than-expected drop in fourth-quarter sales, as investors await details of CEO Luca de Meo's plans ​to revive the Gucci owner's flagging fortunes.

Sales reached 3.9 billion euros ($4.64 billion), down 3% from the previous year when adjusted for currency swings. That beat analysts' consensus forecast for a 5% drop, according to Visible Alpha.

The revenue drop was 10% at Italian flagship label Gucci, which accounts for most of Kering's profits, versus analyst expectations of a 12% decline.

It ‌was the brand's ‌10th straight quarter of revenue ‌decline.

Finance ⁠Chief ​Armelle ‌Poulou told journalists Gucci saw some improvement at the end of last year in "almost all regions", helped by newly introduced products and handbag sales.

Grappling with weak sales since the maximalist styles of Gucci's former star designer Alessandro Michele fell out of fashion in 2022, Kering has faced heightened investor scrutiny over its high ⁠debt and declining profitability.

Free cash from operations fell by 35% last year ‌when excluding one-off payments from real estate ‍sales, reaching 2.3 billion euros, Kering ‍said.

"For Kering, it's really about (restoring) the broad desirability globally," said ‍JPMorgan analyst Chiara Battistini.

Facing an uncertain business outlook, the group, which also owns Gucci Balenciaga, Bottega Veneta and Yves Saint Laurent, further reduced its store network by 75 boutiques with further closures planned, Poulou said.

The ​earnings underscored the steep challenges Kering faces to catch up with peers even though its shares have ⁠risen around 50% since de Meo's appointment was announced last June.

"2025 did not reflect Kering's true potential or the strength of our brands, but it enabled us to lay the foundations for our future recovery," said Poulou.

Kering's annual operating income reached 1.63 billion euros, less than a third of its 2022 level. Kering's operating profit margin fell to 11% group-wide and 16% at Gucci, down from 28% and 36% three years earlier.

By contrast, LVMH delivered a 22% margin last year amid ‌a broader luxury slowdown, with its leather and fashion division - home to Louis Vuitton and Dior - hitting 35%.


Pieter Mulier Named Creative Director of Versace

(FILES) Pieter Mulier attends the 2025 CFDA Awards at The American Museum of Natural History on November 03, 2025 in New York City. (Photo by Dimitrios Kambouris / GETTY IMAGES NORTH AMERICA / AFP)
(FILES) Pieter Mulier attends the 2025 CFDA Awards at The American Museum of Natural History on November 03, 2025 in New York City. (Photo by Dimitrios Kambouris / GETTY IMAGES NORTH AMERICA / AFP)
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Pieter Mulier Named Creative Director of Versace

(FILES) Pieter Mulier attends the 2025 CFDA Awards at The American Museum of Natural History on November 03, 2025 in New York City. (Photo by Dimitrios Kambouris / GETTY IMAGES NORTH AMERICA / AFP)
(FILES) Pieter Mulier attends the 2025 CFDA Awards at The American Museum of Natural History on November 03, 2025 in New York City. (Photo by Dimitrios Kambouris / GETTY IMAGES NORTH AMERICA / AFP)

Belgian fashion designer Pieter Mulier has been named the new creative director of the Milan fashion house Versace starting July 1, according to an announcement on Thursday from the Prada Group, which owns Versace.

Mulier is currently creative director of the French fashion house Alaïa, and was previously the right-hand man of fellow Belgian designer and Prada co-creative director Raf Simons at Calvin Klein, Jil Sander and Dior.

In his new role, Mulier will report to Versace executive chairman Lorenzo Bertelli, the designated successor to manage the family-run Prada Group. Bertelli is the son of Miuccia Prada and Prada Group chairman Patrizio Bertelli.

“We believe that he can truly unlock Versace’s full potential and that he will be able to engage in a fruitful dialogue,’’ The Associated Press quoted Lorenzo Bertelli as saying of Mulier in a statement.

Mulier takes over from Dario Vitale, who departed in December after previewing just one collection during his short-lived Versace stint.

Mulier was honored last fall by supermodel and longtime Alaïa muse Naomi Campbell at the Council of Fashion Designers of America for his work paying tribute to brand founder Azzedine Alaïa. Mulier took the creative helm in 2021, after Alaïa’s death.


Ralph Lauren’s Margin Caution Eclipses Stronger‑than‑expected Quarterly Results

Guests wait after viewing the latest Ralph Lauren collection in New York City, US, April 17, 2025. REUTERS/Caitlin Ochs/File photo
Guests wait after viewing the latest Ralph Lauren collection in New York City, US, April 17, 2025. REUTERS/Caitlin Ochs/File photo
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Ralph Lauren’s Margin Caution Eclipses Stronger‑than‑expected Quarterly Results

Guests wait after viewing the latest Ralph Lauren collection in New York City, US, April 17, 2025. REUTERS/Caitlin Ochs/File photo
Guests wait after viewing the latest Ralph Lauren collection in New York City, US, April 17, 2025. REUTERS/Caitlin Ochs/File photo

Ralph Lauren posted third-quarter results above Wall Street estimates on Thursday, but the luxury retailer's warning of margin pressure tied to US tariffs sent its shares down nearly 6.4% in premarket trading.

The company expects fourth-quarter margins, its smallest revenue period, to shrink about 80 to 120 basis points due to higher tariff pressure and marketing spend.

Ralph Lauren, which sources its products from regions such as China, India and Vietnam, has relied on raising prices and reallocating production to regions with lower duty exposure to offset US tariff pressures, Reuters reported.

"Ralph Lauren has been able to raise prices for some time now. There is some limit on how long it can continue to do this. I think (the company's) gross margins are near peak levels," Morningstar analyst David Swartz said.

The company, which sells $148 striped linen shirts and $498 leather handbags, has tightened inventory, lifted full-price sales and refreshed core styles, boosting its appeal among wealthier and younger customers, including Gen Z.

Higher-income households are still splurging on luxury items, travel and restaurant meals, while lower- and middle-income consumers are strained by higher costs for rents and food as well as a softer job market.

The New York City-based company saw quarterly operating costs jump 12% year-on-year as it ramped up brand building efforts through sports-focused brand campaigns such as Wimbledon and the US Open tennis championship.

The luxury retailer said revenue in the quarter ended December 27 rose 12% to $2.41 billion, above analysts' estimates of a 7.9% rise to $2.31 billion, according to data compiled by LSEG.

It earned $6.22 per share, excluding items, compared to expectations of $5.81, aided by a 220 basis points increase in margins and an 18% rise in average unit retail across its direct-to-consumer channel.

Ralph Lauren now expects fiscal 2026 revenue to rise in the high single to low double digits on a constant currency basis, up from its prior forecast of a 5% to 7% growth.