After weeks of rumor and speculation, Balenciaga has officially appointed Pierpaolo Piccioli as its new Creative Director. The former Valentino designer will take the helm on July 10, 2025, and is expected to unveil his first collection for the Kering-owned house in October.
1. Balenciaga Names New Creative Director
In a statement, Piccioli said,
“Balenciaga’s extraordinary achievements today are thanks to every person who has poured their passion into the brand. At each stage of its evolution, while our style has continually innovated, we have never wavered in upholding the brand’s aesthetic values. I am stepping into a fashion institution brimming with infinite possibilities—and that is truly exhilarating.”
Piccioli formally bid farewell to Valentino in March 2024 after a 25-year tenure, having reached an amicable agreement with the house in advance of the announcement. His final Valentino collection debuted at Paris Fashion Week for Fall 2024.
He succeeds Demna at Balenciaga. Demna is slated to present his last haute couture collection for the house in July 2025, before moving on to Gucci. Love him or hate him, there’s no denying Demna turned Balenciaga into one of the most talked-about brands in contemporary fashion—whether via blizzard-blown runways, muddy catwalks or dystopian trading-floor backdrops, all topped off with avant-garde looks and A-list guest lists.
Known for innovative couture, bold color palettes (hello, Valentino Pink!) and modern takes on traditional craftsmanship, Pierpaolo’s deeply romantic aesthetic is in many ways a spiritual heir to Cristóbal Balenciaga’s founding vision. Expect his version of Balenciaga to feel very different from Demna’s era.
“First, I must thank Demna,” Piccioli added. “I’ve long admired his talent and vision, and there’s no better way to hand over the reins. This is my opportunity to reshape the brand’s identity and write a new chapter in its legend. My heartfelt thanks to François-Henri, Francesca and Gianfranco for their trust from day one—it’s the perfect start to this journey.”
Balenciaga CEO Gianfranco Gianangeli commented,
“Pierpaolo’s creative vision will find full expression at Balenciaga. He will masterfully carry forward Cristóbal Balenciaga’s spirit, striking the right balance between daring innovation, deep heritage and brand culture.”
Kering Deputy CEO Francesca Bellettini concurred,
“He is one of today’s most outstanding and respected designers. His couture expertise, unique creative language and passion for craftsmanship make him the ideal choice for Balenciaga.”
With his trendsetting designs, celebrity fan base and loyal following, Pierpaolo looks more than ready to take Balenciaga’s core legacy forward. How he will reinvent the house—stay tuned for October’s debut.
2. ASICS Is Expanding Its Reach in Europe
Q1 2025 Financial Growth Report
Asics EMEA kicked off 2025 with a stellar 18.7 % year-on-year revenue increase. All channels and product categories saw healthy growth, underscoring the brand’s momentum across Europe.
- Wholesale rose 17.6 %, with Northwest Europe up 28.7 %, Northeast Europe up 18.6 %, France up 15.5 %.
- Northwest Europe up 28.7 %,
- Northeast Europe up 18.6 %,
- France up 15.5 %.
- SportStyle and Apparel categories surged 47.7 % and 34.5 % respectively, while Performance Running, Tennis and Indoor sports also posted solid gains.
“Asics is further solidifying its leadership in Europe’s premium running market, while capturing significant share in Tennis, Indoor, Padel and SportStyle,” said Carsten Unbehaun, CEO of Asics EMEA. “We continue to receive excellent feedback from consumers, athletes and experts, and our commitment to innovation and purpose is truly resonating.”
3. Levi’s® Teams Up Again with Sacai
Japanese avant-garde label Sacai and Levi’s® have reunited for a new collaborative collection, fusing Sacai’s signature deconstructed aesthetics and experimental design with Levi’s® iconic silhouettes. Under the vision of Sacai’s Creative Director Chitose Abe, classic denim is reimagined through a progressive lens while honoring Levi’s® heritage.
- Men’s pieces echo the collection’s overall fusion style, featuring cleaner cuts and minimalist contours—yet retain signature details like vintage metal buttons.
- The Denim × Matelasse Twill reversible flight jacket exemplifies the collaboration: an outer shell with a sharp profile and an inner layer that flips to reveal classic denim details such as red-edge selvedge, felt undercollar and Sacai’s anchor buttons. Two colorways pair indigo with black and blue with khaki nylon, each highlighting bespoke Sacai fabrics, sleeve pockets and custom zippers. Reverse it to show a Type II jacket’s central pleat and chest pocket, finished with Sacai’s ribbed cuffs and hem.
The campaign channels James Dean’s spirit—curiosity, candor, freedom and innocence—Sacai’s spring/summer 2025 muse. Photographed by Craig McDean, styled by Karl Templer, and starring Chase Sui Wonders alongside Chandler Frye, the Levi’s® × Sacai collection launches May 28 via official channels.
4. Google & Gentle Monster Develop AI-Powered Smart Glasses
At Google I/O 2025, Google revealed its official partnership with Korea’s Gentle Monster to co-develop AI-enabled smart glasses running Android XR. Gentle Monster, known for its pioneering brand storytelling and experimental aesthetics in eyewear, will collaborate with Google XR’s team.
Shahram Izadi, General Manager & VP of Google XR, emphasized that only by merging creativity with cutting-edge technology can tech truly blend into daily life. This partnership marks a major step in making XR devices practical, comfortable and stylish for everyday use. The announcement sparked significant excitement at I/O, and the glasses are expected to showcase Google’s advanced intelligence alongside Gentle Monster’s avant-garde design.
5. VF Corporation Shares Plunge After Q4 2025 Results
VF Corporation reported $2.1 billion in net revenue for Q4 2025—marking declines across several key brands—and saw its share price tumble 15.8 %, from $14.43 to $12.15 on the day of the announcement.
- The North Face: $834.5 million, up 2 % YoY.
- Timberland: $376 million, up 10 %.
- Vans fell 22 % to $492.6 million.
- Dickies dropped 14 % to $139.3 million.
By region, Americas and EMEA revenues were down 6 % and 4 % respectively, while Asia-Pacific remained stable. VF says it’s leveraging a 90-day tariff pause to accelerate distribution, optimize sourcing and pursue additional strategies, focusing on cost savings, balance-sheet strength and revitalizing Vans in the U.S.
6. Chanel Sees First Sales Decline Since 2020
Chanel’s 2024 sales dipped 4.3 % to $18.7 billion—the first drop since 2020—with operating profit plunging 30 % to $4.5 billion. Confronted with a cooling market, the French luxury house is re-evaluating its pricing strategy: after years of aggressive price hikes on classics, it plans more moderate increases and cautious investment in new markets like India, Mexico and Canada.
According to Business of Fashion, CEO Leena Nair and CFO Philippe Blondiaux described the luxury market as “challenging.” Under new Creative Director Matthieu Blazy, Chanel is preparing a brand refresh. Blondiaux stressed that, despite the downturn, the business remains “very healthy” and is poised for Blazy’s creative reboot. Nair noted, “We nearly doubled sales over the past three years—now we face tough global conditions and must lean into our century-long heritage.” The slowdown was driven by soft leather goods, though watches and high jewelry saw dynamic growth. After consumer pushback over steep price surges (e.g. the medium Flap bag nearly doubling since 2019), Chanel capped its 2024 fashion-category price increases at 3 %, in line with or below inflation, and intends to maintain a similar approach in 2025.
7. LVMH Warns of Lingering Luxury “Winter”
LVMH has sounded a cautionary note as weakness in China and subdued consumer sentiment keep luxury growth under pressure. After an 11 % organic revenue drop in Q1 2025 (including China), the group expects Q2 to be flat, with no clear improvement.
Analysts project non-Japan Asia-Pacific sales down 6.4 % in Q2, with Fashion & Leather Goods—LVMH’s profit engine—off 3.7 %. LVMH stock is down over 22 % year-to-date. Geopolitical factors like U.S. tariff hikes add complexity to China’s fragile rebound. As the industry’s key growth driver, China’s slowdown is forcing luxury giants to rethink strategies and consumer engagement.
8. Loewe’s New Creative Duo to Debut in Paris This October
Spanish house Loewe has announced that its incoming Creative Directors, Jack McCollough and Lazaro Hernandez (of Proenza Schouler fame), will present their first collection during Paris Fashion Week in October 2025. The duo took over from Jonathan Anderson—who helmed Loewe for 11 years—this March. Anderson, whose tenure blended artistry with commercial impact, will soon debut his first Dior Men’s collection on June 27, 2025.
9. Gucci Overhauls Executive Team Amid Underperformance
Gucci is reshuffling its global leadership to support incoming CEO Stefano Cantino’s strategy and prepare for a creative pivot under Demna. Effective June 1, 2025:
- Maria Cristina Lomanto becomes President of EMEA, succeeding Matteo Mascazzini.
- Marcello Costa is named Chief Merchandising Officer.
- Valérie Leberichel is Global VP of Communications, Francesco Falai Chief People Officer, Christophe Marque President & CEO of the Americas.
This structure aims to back Demna’s first Gucci collection, slated for Autumn 2025, as he tackles a 25 % revenue decline in Q1 2025.
10. Nike to Raise U.S. Prices on Select Items
Starting June 2025, Nike will increase prices on certain U.S. products by $2–$10 (up to roughly ¥72), as part of its seasonal pricing adjustments. Wholesale prices will see similar hikes in the Fall/Winter 2025 season. Jordan products, all kids’ items and footwear priced under $100 are exempt.
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