adidas Reports Flat Sales and Y/Project Revealed Its Fame-Filled FW24 Collection in This Week’s Top Fashion News

Although February/March fashion month has come to a close, fashion will never hit a complete stop. This week in fashion saw several moments ranging from financial reports to destination show announcements. Leading the charge was adidas’ 2023 financial report, which showcased flat sales and a decreased operating profit. On its heels was the reveal of Y/Project’s FW24 collection following the brand’s announcement of its runway show cancellation.

Elsewhere, Dior announced its Cruise 2025 show in Scotland; COS announced its SS24 runway show in Rome; Kim Kardashian’s SKIMS revealed its debut TV commercial and Ye debuted a new selection of cozy YZY merch.

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

adidas Reports Flat Sales and Decreased Operating Profit in 2023

Christof Stache/Afp/Getty Images

adidas has unveiled its full-year financial results for 2023, which many on the business side of fashion have been paying close attention to given the brand’s severed relationship with Ye. The company’s net sales hit €21.4 billion EUR, which is down 4.8% for 2022. But it’s important to note that although the numbers were better than expected, the figure was flat on a currency-neutral basis.

“Despite losing a lot of YEEZY revenue and a very conservative sell-in strategy, we managed to have flat revenues,” said adidas CEO Bjørn Gulden. “We expected to have a substantial negative operating result but achieved an operating profit of €268 million EUR. With a very disciplined go-to-market and buying process, we reduced our inventories by almost €1.5 billion EUR. With the exception of the US, we now have healthy inventories everywhere.”

Additionally, adidas’ operating profit neared €1 billion EUR higher than expected due to the sale of its remaining YEEZY products. For more detailed information about adidas’ 2023 financial performance head to the link above and the full report here.

Y/Project FW24 Trades a Runway Show for a Fame-Filled Lookbook

Y/Project

Each Paris Fashion Week, one of the most anticipated names on the roster is Y/Project due to Glenn Martens’ ability to subvert not just denim but the essence of contemporary warped styles. It’s fresh and something Martens has made a design signature of. But as last month’s PFW neared, the brand announced that it was canceling its runway show. Instead, the brand has revealed a fame-filled lookbook for the Fall/Winter 2024 season.

About the show’s cancellation, Martens told Vogue that the decision was a financial one – opting to alot the €450,000 EUR towards production pre-payment of the collection instead of a runway show. So to bring in the collection that celebrates Martens’ 10th anniversary at the label, the lookbook enlisted the help of brand friends featuring artists Ye, Charli XCX and Tyga; editors Camille B Waddington, Haley Wollens, Olivier Zham and Mel Ottenberg and models Irina Shayk, Kim Peers and Natasha Poly.
Inside the lookbook, you’ll see Martens’ vision of reimagined formalwear, warped denim, elegant yet modern draping and even the debut of a Salomon Speedcross 3 collaboration.

Gucci Released Who Is Sabato De Sarno? Documentary

One year after assuming the top seat at Gucci, designer Sabato De Sarno has received his own documentary. Titled Who Is Sabato De Sarno?, the 20-minute short sheds light on the week before the creative director’s debut runway show for the Florentine fashion house, with interviews from close collaborators, including producer Mark Ronson and stylist Alastair McKimm.

The project was directed by New York filmmakers Arie Schulman and Henry Joost, who previously worked on Catfish and two iterations of Paranormal Activity. Irish actor and Gucci brand ambassador Paul Mescal narrates the film, which ends with the runway show, a spectacle that Mescal calls “the 18 minutes to change Sabato’s life.”

Who Is Sabato De Sarno? is now available to watch on Mubi. Watch the teaser video above.

Dior Will Host Its Cruise 2025 Show in Scotland

Carlo Scarpato/Gorunway.com

Dior is adding to its global destination roster with the announcement of its Cruise 2025 show in Scotland.

Heading to Pershire, the runway show is set to take place at the Drummond Castle Gardens – honoring the location’s 16th-century harvest. Like previous cruise collections, the forthcoming offering from Maria Grazia Chiuri is set to tap into the local surroundings in an homage to its culture.

Dior’s Cruis 2025 show is set to take place on June 3. Stay tuned for more information about the show and its review from Hypebeast.

Walter Chiapponi Departed Blumarine After One Season

Gabriel Bouys/Afp/Getty Images

Walter Chiapponi announced his exit as creative director of Blumarine on Thursday, after showing just one collection for the brand.

Marco Marchi, the administrator of the brand’s parent company Eccellenze Italiane Holding, said, ““This experience will remain unique at a special moment in Blumarine’s history. I am grateful to Walter Chiapponi for pouring so much of himself into this collection. It has been an extraordinary adventure. I wish Walter all the best for the continuation of his journey.”

On his exit, Chiapponi stated, “For me, it was a sort of return to the future in which I focused all my love and creative passion. My thanks for this experience go first and foremost to Marco Marchi, who made it possible, but also to all those without whom I wouldn’t have been able to express myself as I did. I am especially referring to people I have loved and who are no longer with us, but who continue to instill strong emotions in me, to inspire my feelings and my journey. I now want to concentrate on new initiatives and projects with a social and humanitarian scope before returning at a later date, at the right time, to the catwalk.”

COS To Stage SS24 Runway Show in Rome This Month

Cos/Vogue Runway

Just like large luxury fashion houses, COS is continuing its showcase on the world stage. The London-based company’s last runway show returned to New York City for the FW23 season. Now COS is heading to Rome to hold its SS24 show.

“With a continued focus on craftsmanship and enduring design, the presentation will combine the brand’s latest Atelier capsule and mainline collection, set against the backdrop of one of Rome’s historic recently renovated 15th century buildings, marking the first time the venue has opened its doors in such a way,” the brand said in a statement.

COS’ Spring/Summer 2024 show is set to take place at 3 p.m. CET on March 26. The runway show will also be live-streamed on COS’ Instagram and TikTok channels.

Kim Kardashian and Her Scientist “Klones” Star in New “SKIMS Lab” Campaign

Skims

Kim Kardashian has been making waves with SKIMS. The brand has tossed up a range of campaigns with the likes of SZA, Cardi B, Lana Del Rey, Kim Cattrall, Coco Jones, Usher and many more. Aside from campaigns, the brand has become an official underwear partner of the NBA. In continuing its blazing growth and popularity, the brand has now unveiled its debut TV commercial.

Directed by Fran Lebon, the “SKIMS Lab” campaign heads to outer space where it sees Kim Kardashian in a laboratory alongside her working clones. “With this being our first-ever made-for-TV campaign, we really wanted to bring viewers into the SKIMS universe and create a film about our brand story and obsession with product development in a witty, yet extravagant way,” Kardashian said in a statement.

Take a look at Kim Kardashian’s “SKIMS Lab” campaign in the link above.

Ye Debuts New Selection of Cozy YZY Merch

Yzy

Ye is not done with comfortable loungewear as he revealed a new offering of cozy YZY SPLY merchandise.

Entitled “Gosha,” the new selection nods to Gosha Rubchinsky who’s the brand’s new Head of Design. As an homage to the designer/Head of Design, the selections honor Rubchinsky’s Russian heritage.

Appearing across the offering is a gray hoodie, tee and sweatpants alongside gray and black socks. Simple in design, the pieces are accentuated by the phrase “Black Dog” printed in Russian. “YEEZY welcomes Gosha Rubchinsky as its new Head of Design today. The arrival of this legendary Russian designer at Yeezy, the pre-eminent global brand in music and fashion, is a milestone in design history,” the brand wrote about Rubchinsky’s appointment last December.

The new selection is available now online for $20 USD each.