Dear Bof Community,
Hello from New York Fashion Week, when a snowstorms threatens to curb the festival. We are only one month until 2025, and the wave of change in the ranks of fashion executive and creative leadership continues unabated. There are so many changes that it’s hard to keep up, so here’s a quick summary.
Sabato de Sarno competed as Gucci’s creative director and was soon implemented, Kering announced this week. The Autumn/Winter 2025 collection will be led by a “Design Studio” and searches for new creative directors. Marco Gobbetti has left Ferragamo and has earned a payment of 4.5 million euros ($4.7 million) after three years of efforts from the CEO. It has stagnated by revitalizing the family-owned Italian luxury brand. Ferragamo’s shares lost 66% of their value during his tenure. Serge Brunschwig has been appointed CEO of Jil Sander amid speculation that designers Luke and Lucy Meyer have left after this month’s show. Brunschwig also serves as the Chief Strategy Officer of the OTB Group. Glenn Martens has been appointed Creative Director of Margiela in addition to being Creative Director of Margiela. This adds to his role at Diesel, where there is no CEO, after Moraldo Poletto left tenure for seven months. Last week I left Dior Homme and ended my eight-year collaboration with the menswear brand. His next move is yet to be known.
What does this mean? While some creative directors and CEOs clearly did not have high hopes, the summarizing of many changes reflects an industry that feels increasingly lost and uncertain in itself. Some of these people have fallen over due to a broken luxury business model. It’s not enough to just change leadership at the top. For customers looking for value, creativity and transparency, a wholesale reassessment of the meaning and purpose of the luxury fashion sector is necessary.
My top picks of the week:
1. Who will lead the Gucci home? The sudden departure of creative director Sabato De Sarno raises questions about who will replace him and how long it will take to get Kering’s anchor brand off the ground.
2. Why did Louis Vuitton return to Murakami? Additionally, after Hollywood vs Silicon Valley, Freeze and Oscars are Lafaias, Spotify will enter the video on Weeknd and from art columnist Marc Spiegler.
3. How important is sneaker innovation? With so many brands pitching new performance technology, it can be difficult for shoppers to understand why one product is better than another. It’s with the brand that nails the right combination of form and functionality.
4. Trump tariffs explained in four charts. Uncertainty regarding the development of tariffs – whether they are long-lasting periods and in-work – complicates the fashion industry’s ability to adapt to new realities.
5. Can fashion be comprehensive without saying “Dei”? Brands, retailers and their employees are negotiating new approaches to diversity, equity and inclusion initiatives in the Trump era.
BOF Podcast’s weekend
The author shared the podcast.To view built-in content in this article, you must accept and agree to the use of cookies and similar technologies by third party partners (including YouTube, Instagram, or Twitter).accept
“Will India become the next China?” A question that has been spreading throughout the fashion industry for years. Even with both the population and economy surge, India’s cultural tapestry and fragmented retail industry stand apart from its northern neighbours.
At Bof Voices 2024, Ravi Thakran replied with the experience of pioneering luxury growth in China’s swatch and Asian LVMH leadership in the 1990s, and his differences in many of the two most populous countries in the world. We shared unique insights and why European luxury brands haven’t done yet. We were able to really crack the Indian market.
“Right now, India is heading towards China and is growing faster. But when it comes to luxury markets, when it comes to talking about all brands like Mercedes-Benz, BMW, Louis Vuitton, Cartier, India is 1%. It’s less than that,” says Takran. “The incredible growth in India is right in front of us, but a large part of that growth is led by a very young population with very little per capita income. If you’re an ambitious player, Go to India today. This will be your biggest play in the future. In luxury, you still have to work.”
Taklan unleashes the dynamics of India’s economic growth, explains why its path doesn’t reflect China, and shares insights on how to succeed in one of the world’s most complex yet promising markets.
Wishing you a great weekend!
Imran Amed, founder and CEO of the fashion business
