NEW YORK, United States — The fashion industry descended on New York this week as the CFDA awards on Monday and Gucci's Cruise 2016 collection on Thursday anchored opposite ends of a busy week in the American fashion capital, attracting fashion editors and personalities from all corners of the globe.

At the CFDA Awards, a who's who of American fashion — seemingly every fashion designer working in New York, each with a celebrity date, as well as their CEOs, publicists and agents in tow — gathered at what is an important fundraiser for the American fashion council, raising more than $1.4 million dollars.

There's no doubt it was, at times, a long affair (Pharrell Williams, accepting the fashion icon award, spoke for about 15 minutes!) but one filled with some sweet moments. Mickey Drexler, winner of the Founder's Award, was featured in a fun video showing a day in the working life of the legendary merchant and 72-year-old Betsey Johnson did a cartwheel on the stage, earning a well-deserved standing ovation for her Lifetime Achievement Award and bringing some levity and authenticity to what is a carefully scripted event.

A few days later, an even more international group of buyers and editors converged on New York's Chelsea neighbourhood where the Italian fashion giant Gucci managed to shut down an entire block of West 22nd Street. Alessandro Michele's show was bursting with fun ideas and creativity. While every look was not always a fully resolved, polished idea, it was another confident manifestation of the brand's wholesale reinvention under its new creative director. The new Gucci is becoming clearer and clearer with each step.

Enjoy our top stories for the week gone by:

Gucci's Beautiful Losers Hit New York
Proposing a take on eccentricity that is part Wes Anderson, part cultured grandma, part bespectacled style maven, Alessandro Michele has turned the tables at Gucci.

How Stüssy Became a $50 Million Global Streetwear Brand Without Selling Out Growing organically from its surf-inspired roots, the independent label, which turns 35 this year, managed to parlay its heritage into a business that generated $50 million last year, even without the man whose name is on the label.

Tomas Maier Says Brands Need a Clear Personality
BoF sits down with Tomas Maier to discuss the designer's professional trajectory, Bottega Veneta and his expansion plans for his namesake label.

Handbags at Dawn: Why Auction Houses Are Targeting Luxury Fashion
The world's biggest auction houses are targeting luxury fashion. The result? Record-breaking Birkins, auctions during fashion week and a $60 million lawsuit.

Jeremy Langmead's Return to Mr Porter
Jeremy Langmead tells Colin McDowell why he is happy to be back at Mr Porter and his plans for the future.

Mats Rombaut's Natural Approach
This month, our Spotlight shines on Belgian designer Mats Rombaut, whose unisex footwear line, made using materials that reflect his vegan lifestyle, has won over key stockists worldwide.

A Bumpy Ride
The Savigny Luxury Index ("SLI") ended the month of May up shy of one percent after a bumpy ride, whilst the MSCI World Index ("MSCI") climbed two percent.

Imran Amed, Founder and Editor-in-Chief