Supreme Sales Decline and Rihanna Fronts Pharrell's First LV Campaign in This Week's Top Fashion Stories

Stay up to date on the latest industry headlines.

Fashion
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This week, as London and Milan’s designers put forth their latest menswear offerings for Spring 2024, the fashion news cycle continued to spur excitement around this month’s fashion weeks. Among the notable headlines, Rihanna starred in Pharrell’s first Louis Vuitton campaign, and Jacquemus announced that it will stage its next show at the Palace of Versailles — all just ahead of Paris Men’s Fashion Week.

Off the runway, the headlines veered a bit downhill. For one, Supreme reported decreased revenue of $523.1 million USD in the financial year ending March 2023, falling short of VF Corp’s $600 million USD target. Meanwhile, Rhuigi Villaseñor, the designer behind Rhude, was accused of stealing the company’s funds to finance his “lavish lifestyle,” according to a new federal lawsuit.

Below, Hypebeast has rounded up the top fashion stories of the week so you can stay up to date on trends in the industry.

Rihanna Starred in Pharrell’s First Louis Vuitton Campaign

Ahead of Pharrell’s official debut at the helm of Louis Vuitton, the menswear artistic director dropped off his very first campaign for the French Maison, starring Rihanna.

On Instagram, Pharrell shared an image of himself standing in the foreground of a gargantuan billboard suspended on a building in Paris, alongside the caption, “LOUIS VUITTON MEN Spring-Summer 2024.” In the campaign, Rihanna puts her baby bump front and center while carrying an array of LV’s signature keepall accessories.

Pharrell will debut his inaugural collection for Louis Vuitton on June 20 during Paris Fashion Week Men’s.

Supreme Reported Decreased Revenue in the Financial Year Ending March 2023

In the fiscal year ending March 2023, Supreme reported revenues of $523.1 million USD, marking a $38.4 million USD decrease from the same figure for the year prior, according to parent company VF Corp’s report.

The streetwear label’s revenue results fell short of VF Corp’s $600 million USD target by a significant margin. Additionally, Supreme’s net income took a hit, tallying $64.8 million USD, down from last year’s $82.4 million USD.

VF Corp, which owns brands including DickiesThe North FaceVans and Timberland, acquired Supreme in a $2.1 billion USD deal at the end of 2020. The brand’s sale led many fans to question whether Supreme would still be able to maintain its place in streetwear. In February of last year, the imprint appointed Denim Tears’ Tremaine Emory as creative director, with the goal of bolstering its roots through a progressive outlook.

Rhuigi Villaseñor Stole Rhude Company Funds to Support His “Lavish Lifestyle,” According to New Federal Lawsuit

Rhuigi Villaseñor, the designer behind the luxury Los Angeles-based streetwear label Rhude, is facing accusations of stealing company funds to support his own “lavish lifestyle” in a federal lawsuit, according to the Los Angeles Times.

Filed by George Robertson, an owner of a 20% stake in the Rhude brand, the lawsuit alleges that Villaseñor “has been pilfering the Rhude Companies’ coffers” to front his expensive bills, including those for “private jet travel, Italian vacations, Ferraris, Lamborghinis and a collection of $100,000 watches,” per the outlet.

Robertson, who is looking for compensation and the removal of Villaseñor’s executive power at Rhude Companies, also alleges in the suit that the designer raked in yearly revenues of more than $30 million USD. But while the brand’s sales tallied eight figures, Robertson, as a co-owner, claims he has received annual distributions as low as $41,000 USD from Villaseñor. Further, Robertson alleges that Villaseñor would conceal sales by routinely selling Rhude’s goods to VIP clients in private sales and keeping the profits for himself.

Jacquemus Will Hold Its Next Show at the Palace of Versailles

Jacquemus announced earlier this week that its next runway show will take place at the Palace of Versailles.

Being able to do a show in Versailles has always been a childhood dream,” Simon Porte Jacquemus told WWD. “I was so inspired by this historical place during the design process that it led me to explore many new creative possibilities, different from my past shows, but still very Jacquemus. I am really honored and proud to be able to do a show there, as an independent fashion house. It’s going to be a very special moment for Jacquemus.”

In addition to unveiling the latest collection, the forthcoming show will serve as a next step in the brand’s shifting strategy to expand its international retail arm.  “The aim is to create, in the collective unconscious, increasingly strong luxury brand signifiers around Jacquemus,” said Jacquemus’ chief executive officer, Bastien Daguzan.

Jacquemus’ Palace of Versailles show will take place on June 26.

Daniel W. Fletcher To Step Down as Fiorucci’s Creative Director

Daniel W. Fletcher will exit his role as Fiorucci’s menswear artistic director at the end of June, according to WWD.

“I am immensely proud of what we have accomplished together during my time here and have had so much fun along the way. It has been an honor to contribute to this brand that has such a rich history, and I wish Fiorucci all the best for the future,” he said in a statement, per the outlet.

Reports state that Fletcher’s departure from the label was “amicable” and that, going forward, he will dedicate his full attention to his namesake brand. Fletcher’s final collection for Fiorucci will be Resort 2024. Further information regarding Fletcher’s plans, as well as Fiorucci’s, will be provided at a later date.

VERDY Was Named the Artistic Director of BLACKPINK’s Born Pink Tour

Japanese artist and graphic designer VERDY was named the creative director of BLACKPINK’s Born Pink Tour.

In the role, VERDY has designed an exclusive collection to celebrate the next installment of the K-pop group’s almost year-long tour. To date, the designer has not shared any images of his work for BLACKPINK, though the press images see his familiar Vick character next to cartoonish iterations of KRUNK, YG Entertainment’s mascot. For the tour, VERDY plans to meld his unique design codes with the girl group’s feminine aesthetic.

LVMH Partnered With Epic Games to Produce Immersive Digital Experiences With 3D Technology

LVMHMoët Hennessy Louis Vuitton has announced it will expand its partnership with Epic Games, the creator of Fortnite and Unreal Engine, to establish new types of immersive experiences for its high-end fashion houses.

Under the deal, LVMH and its Maisons, which include Louis VuittonCeline and Dior, among several others, will tap into Epic’s industry-leading, three-dimensional creation tools to produce virtual fitting rooms and fashion shows, 360-degree product carousels, AR-fueled experiences and digital twins, among other digital-first initiatives. Epic’s toolbox, which houses Reality Capture, Twinmotion and MetaHuman, alongside Unreal, will allow LVMH’s companies to establish stronger identities in the ever-expanding virtual domains.

3.Paradis Will Stage Its First Runway Show During Paris Fashion Week Men’s

10 years into business, French-Canadian contemporary ready-to-wear label 3.Paradis will stage its first-ever runway show during Paris Fashion Week Men’s later this month, according to WWD.

The brand, led by creative director Emeric Tchatchoua, will take over Square des Périchaux, a public garden in Paris’ 15th arrondissement, on June 23. There, the designer will present a Spring 2024 collection, titled “Journey of Dreams,” built on celebrating “the process of living our dreams,” per the outlet.
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