Robert Williams

1 month ago | businessoffashion.com | Robert Williams

PARIS — Kering has named Italian designer Pierpaolo Piccioli the next creative director of its Balenciaga label, effective July 10. Piccioli will succeed Demna, who is taking the reins of Kering flagship Gucci following a final haute couture show for Balenciaga. With the choice of Piccioli, best known for his deft use of colour and sculptural, poetic haute couture, Kering appears to have opted for an aesthetic and commercial reset at the brand.

1 month ago | businessoffashion.com | Robert Williams

LONDON — “Be yourself; everyone else is taken.” Whether Oscar Wilde ever actually said that is a matter of debate, but the strategy appears to be working for Burberry, which has seen confidence in its turnaround prospects steadily build since announcing a “back to basics” action plan last fall. Shares in the company rose 15 percent Wednesday even as the British trench coat maker reported quarterly sales down 6 percent and full-year profits that swung to a loss.

1 month ago | businessoffashion.com | Robert Williams

Balenciaga has named Nathalie Raynaud its new deputy CEO, the brand announced Tuesday. Raynaud joined the Kering brand four years ago, leading its leather goods unit before being named chief product officer in 2023. The executive helped to increase Balenciaga’s leather goods sales, reducing the brand’s dependence on streetwear and sneakers. Successful bag introductions included the Cagole, Rodeo and Bel Air as well as the relaunched City motorcycle bag.

1 month ago | businessoffashion.com | Robert Williams

Prada Group’s first-quarter revenues rose 13 percent year-on-year to €1.34 billion ($1.52 billion), the Milan-based luxury fashion firm said. Sales were flat at flagship brand Prada, while Miu Miu continued its surge with sales up 60 percent. The group’s continued expansion stands in contrast to the wider industry, which has suffered from slowing global growth and inflation, as well as customer fatigue.

2 months ago | businessoffashion.com | Robert Williams

Gucci’s first quarter sales fell 25 percent on a comparable basis as the brand struggles to turn a corner in a rocky market for luxury. The drop comes on top of easy comps, as the Italian luxury label’s sales already fell by 18 percent in the same quarter last year. Owner Kering said sales had fallen 14 percent overall as Saint Laurent and Balenciaga were also pinched by the current downturn in luxury demand.