Supreme Hit With $26 Million Tyshawn Jones Lawsuit & Maison Margiela Confirms Glenn Martens’ Couture Debut in This Week’s Top Fashion News

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This article compiles the most significant fashion news from the past week, keeping you informed about the latest happenings in the world of style and trends.

Tyshawn Jones Slaps Supreme With $26 Million USD Defamation Lawsuit

Professional skateboarder Tyshawn Jones has filed a lawsuit worth $26 million against Supreme, claiming defamation and breach of contract. According to court papers submitted on May 12 in New York’s Manhattan Supreme Court, Jones aims to recover $25 million USD and an additional $1.25 million USD that he believes was rightfully his under the original agreement with the brand. Jones has been associated with Supreme for more than 13 years, starting when he was just 11 years old; however, their partnership ended abruptly in September of last year. Supreme argued that Jones violated the contract by appearing in a photoshoot for another brand in August 2024. Jones asserts that his dismissal was merely a cover for cost-cutting measures and accuses Supreme of spreading false information to “multiple third parties” about him being dropped from the brand due to a breach of contract.

Glenn Marten’s First Collection for Maison Margiela Will Be for Couture

Maison Margiela announced that its new creative director, Glenn Martens, will unveil his initial collection under the label’s “Artisanal” Haute Couture segment, which is set for July 7-10 in Paris. The brand expressed excitement about this new phase in a statement to WWD, stating, “This marks the start of an inspiring new chapter for our house, grounded in our core creative ethos and influenced by Margiela’s couture legacy. Under Glenn’s leadership, couture will continue to fuel creativity within the brand and generate boundary-breaking designs.” Although Martens stepped down from Y/Project at the end of last year, he remains active as he leads a significant creative transformation at Diesel. As of now, Martens is expected to carry on designing for Diesel while embarking on his new adventure with Margiela.

Dick’s Sporting Goods To Buy Foot Locker for $2.4 Billion USD

In a $2.4 billion USD agreement, Dick’s Sporting Goods plans to acquire Foot Locker Inc., aiming to bolster its global footprint as stated by The Wall Street Journal. This acquisition will be funded through existing cash reserves and new debt. Shareholders have the option to receive $24 in cash (representing a 66% premium over Foot Locker’s average share price within the last 60 days) or Dick’s Sporting Goods stock equivalent, as reported by CNBC. Foot Locker’s CEO Mary Dillon expressed optimism about the merger, stating that it will empower Foot Locker to further promote sneaker culture, improve the overall shopping experience for customers and partners, and strengthen its industry position. She is confident that this transaction offers the best value for shareholders and other stakeholders.

Pharrell Williams Launches JOOPITER Marketplace

Pharrell Williams’ online platform JOOPITER has introduced a fresh e-commerce site equipped with an immediate purchase function for its high-end and pre-owned collectibles. Debuting on the scene is the JOOPITER Marketplace, stocked initially with items from Pharrell’s network, such as artist Tom Sachs, jeweler Lorraine Schwartz, entrepreneur Easy Otabor, gallerist Steven Victor, among others. John Auerbach, CEO of Joopiter, stated to WWD, “Over the past three-and-a-half years, JOOPITER has cultivated a dedicated following of collectors through our auctions who crave instant gratification. We’ve created the JOOPITER Marketplace to cater to this demand, expand our community, and introduce coveted items that only JOOPITER can offer.

Burberry to Cut 20% of Workforce in Loss Turnaround Plan

To make up for losses in the fiscal year 2025, Burberry is considering reducing its workforce by up to 20%, which equates to approximately 1,700 jobs. On Wednesday, they unveiled a cost-saving strategy expected to yield 100 million pounds by fiscal 2027. This initiative was presented as the company reported an operating loss of 3 million pounds in fiscal year 2025, according to WWD’s report. The plan proposed by CEO Schulman and CFO Ferry led to a 16% rise in Burberry’s stock price on the London Stock Exchange. Despite a 17% decrease in overall revenue and a 12% drop in retail sales, Schulman highlights that the stronger-than-expected start to Q1 of 2025 indicates some positive momentum.

On Reports Record Sales in Q1 2025

Shares rose by 8% on Tuesday following news that the Swiss company posted a record quarterly net sales of 726.6 million Swiss francs. As reported by WWD, this marks a 43% increase from last year’s Q1 net sales of 508.2 million Swiss francs, driven by strong direct-to-consumer growth and high wholesale demand. Caspar Coppetti, co-founder and executive co-chairman of On, expressed optimism for the brand’s future: “We are excited about the global interest in On as a comprehensive sportswear brand, and we look forward to continued success in the second quarter and beyond.

Kith’s Manhattan Flagship Is Back With a Modern New Look

The Kith Manhattan flagship store has been refurbished and reopened, featuring an updated design concept. Situated in the trendy Nolita district of New York City, this revamped retail location showcases a modern three-story interior layout. The ground floor is exclusively dedicated to the Kith Men’s collection, while the second level boasts dark walnut details and displays a mix of clothing and accessories from various brands. The third floor, adorned with elegant Herringbone floors, serves as the footwear shop. To commemorate the store’s reopening, Kith has teamed up with New Balance to produce the ABZORB 2010 shoe, which combines pig suede and synthetic nubuck materials, mesh underlayers, and classic Kith branding.

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2025-05-16 23:56