Top Fashion Stories of the Week: August 2

Miu Miu Sales Almost Double and Marc Jacobs Drops Famous FW24 Campaign in This Week's Top Fashion News

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This week’s fashion headlines were dominated by financial reports, big-name campaigns, collaborations and trophies.

Among the biggest stories, Miu Miu had a positive week, with reports showing the brand had almost doubled its revenue in the first half of 2024, while most other luxury labels struggle to make any growth amid an ongoing luxury slowdown. Elsewhere, Marc Jacobs dropped off a mega campaign with stars including Cardi B, Lil Uzi Vert, Irina Shayk, Kai Cenat, Clairo, Alex Consani and Gabbriette.

Down the line, the CFDA announced a Jewelry Designer Award with Tiffany & Co.; Gigi Hadid starred in Dilara Fındıkoğlu and Heaven by Marc Jacobs’ latest campaign, and Armani Group also posted positive growth in its latest financial results. Plus, Ice Spice confirmed she’s cooking up something with Billionaire Boys Club.

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

Miu Miu Sales Almost Double in First Half of 2024

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Miu Miu reported stellar financial results in the first half of 2024, with sales up 93% in the six-month period ending June 30, according to the Prada Group’s latest report. Amid a luxury slowdown that has negatively affected other brands’ sales figures, Miuccia Prada’s label has outdone itself once more, surpassing its already impressive first-quarter sales increase of 89% thanks to continued consumer demand for its top-ranked products.

“Miu Miu’s strong performance is a testament to the strategy and disciplined execution implemented over the past years,” said Andrea Guerra, the Prada Group’s chief executive officer. “We continue to progress in our journey towards retail excellence, enriching our product range and driving customer engagement to nurture our brands’ desirability.”

See the full report here.

Cardi B, Lil Uzi Vert, Gabbriette and More Star in Marc Jacobs’ Fall 2024 Campaign

Harmony Korine

Marc Jacobs is known for viral campaigns and social media tricks — take a scroll through the label’s TikTok page, and you’ll see just how savvy the designer’s social media team has become in capitalizing on your brainrot. Now, following on from its much-loved Cactus Plant Flea Market team-up, the brand’s Fall/Winter 2024 campaign is already blazing through the internet, thanks to its fame-packed cast, which includes Cardi B, Lil Uzi Vert, Irina Shayk, Kai Cenat, Clairo, Alex Consani and Gabbriette.

The starry lineup appears together in a video titled, “Marc Jacobs is…” Each talent answers the titular question in their own way, with Gabbriette calling the brand “legendary,” Cardi describing it as “marvelous, and Lil Uzi Vert saying it’s “love,” among others. Set to Charli XCX’s ”360,” the clip concludes with Cardi’s signature chuckle.

See the full campaign here.

CFDA and Tiffany & Co. Launch New Jewelry Designer Award

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Tiffany & Co. has joined forces with the Council of Fashion Designers of America (CFDA) to create an all-new Jewelry Designer Award that aims to recognize “American jewelry designers who are committed to driving inclusivity within the design industry” and elevate jewelry design as “its own category akin to womenswear and menswear.”

Selected participants will receive mentorships and hands-on learning experiences that delve into Tiffany & Co.’s inventive processes. An esteemed selection committee will judge each participant’s work, and the winner of the program will receive a year-long fellowship inside Tiffany & Co.’s design department and a $50,000 USD award.

Learn more about the program here.

Gigi Hadid Fronts New Dilara Fındıkoğlu x Heaven by Marc Jacobs Lookbook

Heaven

Gigi Hadid starred in the latest edition of Dilara Fındıkoğlu’s collaboration with Heaven by Marc Jacobs. For this latest capsule, the Turkish-British designer took inspiration from pop-punk nostalgia to create a lineup of edgy, rebellious and coquettish garments that feel very much in line with the zeitgeist’s current lens.

“When I was creating this collection, I had my high school years in mind where I was listening to Avril Lavigne, Runaways, Bikini Kill, and Girlschool and trying to find my identity wearing metallic blue Marc Jacobs platforms, ‘Gothic Lolita’ dresses and band t-shirt,” Fındıkoğlu explained in a statement.

Explore the full Dilara Fındıkoğlu x Heaven by Marc Jacobs collection here.

Armani Revenues Increase, But Sales Still Slow in Asia

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Earlier this week, the Armani Group shared its financial report for 2023, revealing that its revenue increased by 4% to reach €2.45 billion EUR (approx. $2.65 billion USD) in the period.

The company wrote that it experienced a “single-digit slowdown in the second half of 2023 and 2024,” though it still ended up reporting positive growth for the full 12 months.

Armani Group added that its sales “reflect an adjustment within the luxury market, especially in the Asia ex-Japan region and the more accessible segment of the offer, with a single-digit decline in revenues recorded in the second half of 2023 and confirmed in the first half of 2024, as compared to an excellent first half of 2023.”

Learn more about the report here.

Ice Spice Confirms She Has a Collaboration With Billionaire Boys Club

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In a Rolling Stone cover story this week, Ice Spice revealed that she’s working with Billionaire Boys Club on a new collaboration.

While reminiscing on her pre-famous life, Spice remembers her longtime friend and collaborator RiotUSA connecting her Billionaire Boys Club’s warehouse for a job, after she had dropped out of college. “That was a fun-ass job though, because we was able to play music off the laptop and shit. Our boss was mad cool,” she said.

When asked if she had plans to collaborate with the brand today, she confirmed, “It’s coming. WE have BBC x Ice Spice merch.”

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