This week, I bid a bittersweet farewell to my favorite spots in Fairfax, all while receiving warm greetings from the bustling runways of Paris. Meanwhile, even amidst the uncertainties, it’s heartening to see top brands consistently thriving and shining brightly.
Bobby Hundreds, more commonly known as Bobby Kim, has revealed his exit from his position at The Hundreds, a company he established in 2005. Meanwhile, the fashion scene in Paris was buzzing with joy as Dries Van Noten and Tom Ford welcomed Julian Klausner and Haider Ackerman respectively. In Milan, Prada is still contemplating buying Versace from Capri Holdings, following their announcement of increased growth during the last quarter of 2024. Lastly, On Running’s parent company, On Holding AG, celebrated a significant achievement in Switzerland after they tripled their net profits in 2024.
This article gathers the most significant fashion news items from the past week, ensuring you’re well-informed about the latest industry trends.
Bobby Kim Steps Down as Creative Director of The Hundreds
Following the announcement of the closure of its Fairfax LA flagship, Bobby Kim (known as Bobby Hundreds), founder of The Hundreds, declared he would be relinquishing his creative director position at the company. In an interview with GQ, Kim disclosed that David Rivera will assume this role instead. “I am essentially stepping away from having control and supervision over the visual and aesthetic aspects of The Hundreds moving forward,” Kim stated. He revealed that Rivera initially joined The Hundreds as a photo assistant and later progressed to become an accessories designer, then an apparel designer. “He has held every design role within the company, worked his way up, and now, over the last couple of years, we have given him control of the brand,” Kim added.
Kim admits her boundaries,” she says. “Am I confident in my ability to design effectively and grasp street fashion? Yes, without a doubt. However, am I currently the most suitable person to excel in designing for The Hundreds at this moment? I’m not, and David is. Admittedly, acknowledging that fact was an incredibly humbling experience.” With its 20th anniversary on the horizon, the atmosphere at Fairfax has significantly changed as one of the last streetwear pioneers decides to part ways with the renowned brand.
Prada Group Inches Closer to $1.6 Billion USD Deal for Versace
It appears that the fashion giant Prada is moving forward in negotiations to purchase Versace from its current owner, Capri Holdings Ltd. According to sources familiar with the situation, Prada has reached an agreement on a price of approximately 1.5 billion Euros (around $1.6 billion USD). In February, Prada Group started a comprehensive evaluation of Versace to consider making a bid for the brand, entering into an exclusive agreement to conduct due diligence and find no significant risks.
According to unnamed sources, talks between the companies are moving forward and there’s a possibility they could finalize a deal by the end of March. However, the details like timing and value might shift, and negotiations could potentially collapse. While Prada has seen remarkable growth, Versace has been impacted significantly by the downturn in the luxury market. In November 2024, Capri Holdings announced that Versace’s revenue decreased by 28.2% during the second fiscal quarter of that year.
Prada and Miu Miu Beat the Luxury Slowdown
Should the Versace agreement proceed, Prada Group finds itself in a robust financial condition. This Italian luxury conglomerate has been thriving even amidst market fluctuations. Last year, Prada’s retail sales experienced a 4% growth, and Miu Miu witnessed an astonishing 93% spike in sales. The company’s total revenue climbed by 15% to reach €5.43 billion, with net profit soaring by 25% to €839 million.
Prada’s strong control over its brand promotion and its widely appreciated items, such as the Prada Symbole sunglasses and Miu Miu’s Arcadie bag, have significantly contributed to its recent growth. As Miu Miu has grown in popularity among Gen Z, it has ventured into affordable accessories, which has further increased demand. The Prada Group is strategically increasing prices while maintaining affordability to enhance its market standing and fine-tune the branding of Miu Miu.
Julian Klausner Debuts at Dries Van Noten
Making his first appearance as Dries Van Noten’s creative director, Julian Klausner presented his Fall-Winter 25/26 collection at Paris’s Palais Garnier. This collection seamlessly merged grand antiquity with contemporary tailoring. Dramatic coat designs, accessorized with leather belts from exotic lands, were juxtaposed against luxurious silk blouses. The designs burst with vivacity through the use of bold colors such as fuchsia, green, and fiery orange. Gold-edged knitwear and flowing silk gowns contributed a touch of royal elegance to the mix. Klausner’s debut for the cherished Antwerp label was greeted with applause, affirming his vision for the brand’s upcoming direction.
Haider Ackerman Debuts at Tom Ford
Haider Ackerman began his tenure with Tom Ford by presenting a collection of daring evening wear for the Fall-Winter 25/26 season. This lineup showcased off-shoulder dresses with side slits, vibrant slim suits, and luxurious leather garments. The initial part of the show was dominated by leather pieces, such as a white crocodile top, various biker jackets, and single-handed motorcycle gloves. The color palette was dynamic, featuring bold combinations like electric blue and silver, or neon green and pink, reflecting Ackerman’s expertise in color coordination.
In September 2024, Ackermann took over as the creative director of Tom Ford, a position previously held by Peter Hawking. However, due to unexpected circumstances, Hawking was dismissed from the role by the brand just a year into his tenure. Hawking had worked under Tom Ford since Ford’s days at Gucci, right up until Ford’s retirement.
On Running Triples Net Profit in 2024 Exceeding $2.6 Billion USD in Sales
In the 2024 fiscal year, AG, On Running’s parent company, experienced a remarkable performance, raking in sales worth $2.6 billion and nearly tripling its net profit to an impressive 242.3 million Swiss francs. Exceeding its adjusted predictions, the company observed a staggering 35.7% growth in Q4 sales alone. Direct-to-consumer sales saw a robust increase of 40.3%, while wholesale sales rose by 22.8%. The Asia-Pacific region took the lead with an impressive 84.5% spike, followed by substantial expansion in both the Americas and EMEA markets.
The thriving business of On is driven by the escalating interest in athletic apparel for top performance and strategic partnerships with popular brands such as Kith and celebrities like Zendaya. As we move forward, On Holding AG projects a 27% rise in sales by 2025, aiming to reach an impressive $3.3 billion.
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2025-03-08 00:26