Editor’s Note
The first half of 2025 has seen a major reshuffle in fashion’s creative leadership, with high-profile designers like Pierpaolo Piccioli and Jonathan Anderson taking on new roles at historic houses. This article tracks the key moves shaping the industry’s artistic direction.
After a turbulent 2024 in the ateliers, the first six months of 2025 have been no less eventful. Within the Kering group, Balenciaga has chosen Pierpaolo Piccioli, formerly of Valentino, as its new artistic director. He replaces Demna, who has in turn joined Gucci. Jonathan Anderson, formerly of Loewe, has become the lead creative for both men’s and women’s collections at Dior, a first in the brand’s history. Simone Bellotti, ex-Bally, has been appointed at Jil Sander; Duran Lantik has taken the helm at Jean Paul Gaultier; Glenn Martens is serving as chief designer at Maison Margiela; Jack McCollough and Lazaro Hernandez have taken over at Loewe; Dario Vitale has joined Versace; Mugler has recruited Miguel Castro Freitas; and Marni has signed Meryll Rogge.
The first half of the year has been mixed for the luxury industry. A few firms have reported rising revenues, such as Prada Group, which benefited from +13% growth to €1.3 billion in the first three months of the year. In the first half, Puig achieved a sales increase of +7.6% to €2.3 billion. For its first quarter of the shifted 2025 fiscal year (April to June), Richemont recorded a +3% rise in revenue to €5.4 billion.
However, many brands have published results in the red. Over the same quarterly period as Richemont, Burberry reported a -6% decline to £433 million, following a -17% drop to £2.4 billion for the 2024-2025 fiscal year closed in March. At Capri Holdings, that same annual fiscal year ended with a -14% sales decrease to $4.4 billion. For its part, Kering continued to widen the gap in the first three months of the year with a -14% decline to €3.9 billion. LVMH saw its revenues fall by -2% to €20.3 billion. After slight growth in 2024, Hugo Boss posted a -2% sales decline to €999 million in the first quarter of 2025. In February, OTB Group published its 2024 annual results, down -4.4% to €1.8 billion.
Since the start of the year, several cyberattacks have been reported, targeting major luxury houses. This is notably the case at LVMH. At Louis Vuitton, South Korea, the United Kingdom, and Hong Kong were recently affected by data leaks. In the spring, Dior and Tiffany & Co, two other brands in the group’s portfolio, reported attacks on their IT networks. The Richemont group also saw its flagship brand Cartier hit by a cyberattack in early June.
In recent years, the number of culinary showcases opened by luxury houses, aiming to target a new clientele and engage in lifestyle-oriented storytelling, has become countless. Armani thus opened its first restaurant in China in early 2025, while Saint Laurent bet on Paris by installing a Sushi Park there. Already at the helm of several cafes bearing its name, Prada unveiled a restaurant in Shanghai with Hong Kong director Wong Kar Wai. This summer, Louis Vuitton returns with its 1-star restaurant in Saint-Tropez.
In Reims, the champagne house Taittinger has just inaugurated a fine dining table, while Ruinart concocted a two-day menu in early June, gathering 15 starred restaurants. In another vein, the high-end kitchenware brand Mauviel enlisted the popular Jean Imbert to open a restaurant at Mont-Saint-Michel. On the bar and coffee shop side, houses like Aquazzura, YSL Beauté, and Carolina Herrera have all bet on culinary spaces, either ephemerally or with a more lasting purpose.
The most notable retail news is none other than Louis Vuitton’s flagship “Le Louis,” with the appearance of a luxury liner, installed in Shanghai to revitalize sales in China. Vacheron Constantin and Tiffany & Co have also bet on Asia with establishments in Seoul, South Korea, and Tokyo, Japan, respectively. In Paris, Alaïa unveiled its new flagship boutique on Rue du Faubourg Saint-Honoré, which also hosts the first Parisian store of Casablanca and an Acqua di Parma address. Still in the capital, the Ritz Paris Le Comptoir has installed its second pastry showcase on the Left Bank. Gemmyo, Jo Malone, Matière Première, and Amina Muaddi have also strengthened their presence in the capital. In the United States, Lacoste and Longchamp have inaugurated their new New York flagship, while Louis Vuitton has announced the upcoming opening of a large-scale store – 9,000 m² – in Beverly Hills.