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.
At a presentation during Milan Men’s Fashion Week on Monday, Gucci revealed that its creative director Alessandro Michele had collaborated with English singer Harry Styles on its latest menswear collection, titled “HA HA HA.”
Styles, who has become well-known for his adventurous, nostalgic and often gender-bending looks, has frequently worn Gucci for his public appearances since Michele took the helm of the brand in 2015. Styles has also starred in the brands’ campaigns.
In a statement, Michele lauded Styles’ ability to “combine items of clothing in a way that is out of the ordinary compared to the required standards of taste and common sense.”
The collection, shot in the popular Milan vintage boutique Cavalli e Nastri, features a pyjama-inspired ensemble layering gingham with cartoon squirrels, a pink-and-green cardigan and flared trousers similar to the ones Styles often wears on stage.
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The move comes as Gucci works to restore sales momentum after bouncing back more slowly from the pandemic than top rivals, as well as facing an uncertain outlook for luxury. Shares in owner Kering have fallen 31.5 percent year-to-date, compared with a 17 percent drop for the Stoxx 600 Index of Europe’s biggest companies.
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Can Kering Shake Off Gucci’s Growth Hangover?
The Italian mega-brand’s uneven pandemic rebound has some investors worried after years of dizzying growth.
Hermes saw Chinese buyers snap up its luxury products as the Kelly bag maker showed its resilience amid a broader slowdown in demand for the sector.
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.