Gucci Sales Plummeted and NYFW Turned Heads in This Week's Top Fashion News

This week, fashion’s biggest headlines covered big-name runway shows, staggering sales reports, exciting store openings and more.

Among the buzziest news pieces, Kering shared its Q4 2024 financial report, revealing that its cash cow, Gucci, had slumped by 24% in the quarter. Elsewhere, the likes of Thom Browne, Luar and Todd Snyder revealed their Fall/Winter 2025 collections on the New York Fashion Week stage; LVMH revealed its 2025 Prize semi-finalists; Celine set the date for Michael Rider’s debut, and Stüssy opened a brand new store in NYC’s Nolita neighborhood, among other much-talked-about scoops.

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

Gucci Sales Fell 24%

Gucci

Gucci sales fell 24% in the fourth quarter of last year, according to Kering’s latest earnings report.

The news came just a week after the House’s creative director Sabato De Sarno announced his sudden departure from the brand. The designer, who joined the brand in 2023 following Alessandro Michele’s maximalist era at the helm, introduced a more minimal design aesthetic that has struggled to increase consumer demand amid a luxury slowdown.

Elsewhere on Kering’s roster, Saint Laurent saw sales fall 8% in the fourth quarter, while Bottega Veneta’s sales increased by 12% thanks to its leather goods success.

New York Fashion Week Promised a Head-Turning Fall 2025 Season

Gorunway.com/Vogue Runway

New York Fashion Week has officially concluded, and the fashion crowd’s photo dumps are likely clogging your feeds with content from all over town (flick through ours here).

At the top of the week, Todd Snyder took menswear aficionados uptown to the Academy Mansion for a smart start. In Chelsea, Christian Cowan debuted a dress made out of bubblegum, and Collina Strada’s Hillary Taymour designed a total “Fempire” complete with bug-eyed sunglasses and runway makeout sessions. Down in the Financial District, Luar’s audacious fashions stormed through a business lobby in corporate drag. In Brooklyn, Christopher John Rogers made a kaleidoscopic grand return to the New York calendar. And at The Shed in Hudson Yards, Thom Browne’s whimsical runway defied any claims that New York Fashion Week is dead.

See all of our coverage from the week here.

The 2025 LVMH Prize Semi-Finalists Were Announced

Lvmh

Ahead of Paris Fashion Week, LVMH has announced the list of 20 candidates shortlisted as semi-finalists for its 2025 Prize—a trio of esteemed trophies honoring creativity, craftsmanship and innovation in fashion design that will be presented to this year’s winners next month.

Selected from over 2,300 applications globally, the 2025 LVMH Prize’s semi-finalists come from 15 countries, including Egypt, Ghana and Saudi Arabia for the first time, and their work spans womenswear, menswear and genderless categories.

The semi-finalists include AlainPaul (France), All-In (United States and Norway), Boyedoe (Ghana), Francesco Murano (Italy), Josh Tafoya (United States), KML (Saudi Arabia), Meruert Tolegen (United States), Mfpen (Denmark), Nicklas Skovgaard (Denmark), Penultimate (China), Pillings (Japan), Renaissance Renaissance (Lebanon), Sinead O’Dwyer (Ireland), Soshiotsuki (Japan), Steve O Smith (United Kingdom), Tolu Coker (United Kingdom), Torisheju (United Kingdom), Yasmin Mansour (Egypt), Young n Sang (South Korea) and Zomer (Netherlands).

Learn more about the Prize here.

Michael Rider Is Set to Debut at Celine

Celine

Get ready for a new era at Celine. This week, the French luxury label confirmed that its new creative director, Michael Rider, will make his runway debut on July 6.

The designer was named the House’s new creative director in October of last year, after Hedi Slimane exited the brand. Notably, Rider previously worked at Celine under Phoebe Philo. He left the label to work as the creative director at Ralph Lauren in 2018, and he remained at the American design label through May 2024.

Rider’s Celine debut will coincide with the Fall/Winter 2025 Couture season, though it is not yet known whether the show will include womenswear, menswear or both categories.

Stüssy New York Chapter Store Has Reopened

Sean Davidson

Stüssy’s New York flagship has officially opened its doors. Moving in alongside the city’s Nolita streetwear titans, including Aimé Leon Dore, Kith and Noah, the legacy SoCal streetwear imprint has cut the ribbon on a 5,600 square-foot retail outpost located at 50 Prince Street, which previously belonged to the McNally Jackson bookstore.

Stüssy, founded in 1984, first established its presence in New York City in 1991, when the label opened its inaugural store in the American fashion capital. The brand closed its former New York flagship store, which was located at 176 Spring Street in SoHo, at the end of last year. Notably, the outpost, which first belonged to Union, has now turned into Tremaine Emory’s Denim Tears storefront.

Parley for the Oceans and Dover Street Market Ink Long-Term Innovation Partnership

Valentin Folliet

Global environmental organization and impact network Parley for the Oceans has teamed up with Dover Street Market Paris Brand Development (DSMP-BD) on a long-term collaboration that will focus on investigating alternative design methods and innovative fashion technologies in a “laboratory-space” where “creativity meets science.”

The duo’s eco-minded collaboration will unfold in several phases, with a “special collaborative project” launching as the first chapter in March. The pair’s main collection will then arrive in June.

“We are thrilled to partner with Parley for the Oceans,” said Adrian Joffe, Dover Street Market’s CEO. “Cyrill [Gutsh, CEO of Parley] is an extraordinary man. His quest and vision to clean up the oceans, our planet’s breathing heart, is crucial to our survival. In these dark times, the work of Parley is a formidable ray of light and a beacon of hope. We are beyond proud and excited to be part of this venture.”