The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
NEW YORK, United States — It was always going to be Gucci's night.
Gucci sponsored the event, creative director Alessandro Michele served as co-host, and the camp theme certainly fit with the Italian luxury house's aesthetic. The brand dressed 25 men and women, with Harry Styles' nipple-baring suit and Jared Leto, who carried a mockup of his own head into the party, generating the most buzz. Gucci received over 45,000 mentions on social media while the red carpet was open, nearly three times as much as runner-up Valentino, according to Brandwatch.
Other large brands sent truckloads of sequins and feathers down the pink carpet, including Ferragamo's 14 stars and Prada's nine. Moschino, another brand for which the theme seemed hand-picked, dressed 10 stars as well, including Katy Perry's chandelier look.
But numbers aren't everything. Smaller brands and designers went for one big look — Brandon Maxwell only needed to style one star to win the night, with his reveal-on-reveal-on-reveal look for Lady Gaga, receiving 6,500 social-media mentions, the third-highest total. The Blonds made a similar impact with Billy Porter's winged, all-gold outfit.
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Conspicuously absent: Dolce & Gabbana, which in past years has dressed numerous high-profile stars, but has faced a soft red-carpet ban since a controversial marketing campaign sparked a boycott in China. Also out was H&M, indicating the wave of fast-fashion brands attempting red-carpet couture has finally fizzled. Calvin Klein's minimal presence was to be expected with Raf Simons' departure, though PVH Corp. sister brand Tommy Hilfiger had a big night, dressing Kris Jenner and Zendaya (the most-mentioned on social media after Harry Styles and Lady Gaga, according to Brandwatch).
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The group’s flagship Prada brand grew more slowly but remained resilient in the face of a sector-wide slowdown, with retail sales up 7 percent.
The guidance was issued as the French group released first-quarter sales that confirmed forecasts for a slowdown. Weak demand in China and poor performance at flagship Gucci are weighing on the group.
Consumers face less, not more, choice if handbag brands can't scale up to compete with LVMH, argues Andrea Felsted.
As the French luxury group attempts to get back on track, investors, former insiders and industry observers say the group needs a far more drastic overhaul than it has planned, reports Bloomberg.