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.
The designer, accused of sexual assault by at least eight alleged victims over the past week, took to his personal Instagram account on Monday to post a statement, following his denial on New Year’s Eve.
“I’d like to take the opportunity to connect directly with the people who have followed and supported this brand and me over the years and address the recent false, fabricated and mostly anonymous accusations against me,” he said, adding that, “My team is doing everything in their power to investigate these claims and I promise to remain honest and transparent throughout that process.” He also called the claims, which included accounts of sexual assault and druggings, “baseless.”
Both Wang’s own Instagram account and the brand’s account remain closed to comments. Read more of BoF’s analysis on the Wang allegations — and the potential ramifications for his business — in our latest report.
The sharp fall in the yen, combined with a number of premium brands not adjusting their prices to reflect the change, has created a rare opportunity to grab luxe goods at a discount.
Fashion’s presence at Milan Design Week grew even bigger this year. Savvy activations by brands including Hermès, Gucci, Bottega Veneta, Loewe and Prada showed how Salone has become a ‘critical petri dish for dalliances between design and fashion,’ Dan Thawley reports.
The Hood By Air co-founder’s ready-to-wear capsule for the Paris-based perfume and fashion house will be timed to coincide with the Met Gala in New York.
Revenues fell on a reported basis, confirming sector-wide fears that luxury demand would continue to slow.