Bobby Kim Exits Role at The Hundreds & Prada Inches Closer to Versace Acquisition in This Week's Top Fashion News

In this week’s top fashion news, a bittersweet goodbye on Fairfax concurs with warm welcomes on the Parisian runway and top brands continue reporting stellar performance amidst uncertainty.

Bobby Kim, better known as Bobby Hundreds, has announced his departure from his role at The Hundreds, which he founded in 2005. However, in Paris spirits were merrier as Dries Van Noten and Tom Ford respectively welcomed Julian Klausner and Haider Ackerman. In Milan, Prada continues considering an acquisition of Versace from Capri Holdings, as it reports continued growth in the 4th quarter of 2024. In Switzerland, On Running‘s parent On Holding AG also celebrated a major milestone, after reporting that it tripled its net profits in 2024.

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

Bobby Kim Steps Down as Creative Director of The Hundreds

Shortly after announcing the closing of its Fairfax LA flagship, The Hundreds‘ founder Bobby Kim (aka Bobby Hundreds) announced that we would be exiting his creative director role at the brand. Sharing the news in an interview with GQ, Kim confirmed that David Rivera will be taking over the role. “I am effectively stepping back as far as creative control and oversight of how The Hundreds looks and feels from here on forward,” he said. He shared that Rivera began his tenure at The Hundreds as a photo assistant and eventually became an accessories designer, then an apparel designer. “He’s worked every role in design, worked his way up to the point of creative director where we now have entrusted him with the brand over the last couple of years.”

“I know my limitations,” Kim states. “Do I think I know how to design well? Do I think I understand street fashion well? Absolutely. But am I the one to do it the best for The Hundreds at this point in time? I’m not, and David is. Having to swallow that pill was incredibly humbling.” As the brand reaches its 20th anniversary, the scene is much different at Fairfax as one of the last streetwear veterans leaves the famed street.

Prada Group Inches Closer to $1.6 Billion USD Deal for Versace

Prada Group is reportedly inching toward closing a deal to buy Versace from its current owner, Capri Holdings Ltd. According to “people close to the matter” via BoF, Prada has agreed to a price of almost €1.5 billion EUR ($1.6 billion USD). In February, Prada Group initiated a full review of Versace to weigh the possibility of a bid for the brand, signing an exclusive agreement to carry out the due diligence report, and assessed no major risk.

Per the outlet’s anonymous sources, conversations are entering the next phase and the companies could reach a deal by the end of March. “The timing and valuation could change, and discussions could still fall apart,” the sources said. While Prada has continued its outstanding growth, Versace has suffered big blows in the general decline of luxury performance. In November, Capri Holdings reported that Versace’s revenue dropped by 28.2% in the second fiscal quarter of 2024.

Prada and Miu Miu Beat the Luxury Slowdown

If it does move forward with the Versace deal, Prada Group is in a rather healthy position. The Italian luxury conglomerate continues performing well despite the market slowdown. Prada’s retail sales grew 4% last year, while Miu Miu saw a record-breaking 93% surge in sales. The company’s overall revenue increased 15% to €5.43 billion, with net profit rising 25% to €839 million.

Prada’s firm grasp on its brand marketing and its popular products, like Prada’s Symbole sunglasses and Miu Miu’s Arcadie bag, have fueled its recent growth. Miu Miu, which has evolved into a Gen Z favorite, expanded into entry-level accessories, further boosting demand. Balancing affordability with strategic price increases, Prada Group looks ahead to strengthen its market position and refine Miu Miu’s branding.

Julian Klausner Debuts at Dries Van Noten

Debuting his first collection as Dries Van Noten‘s creative director, Julian Klausner showcased his FW25/26 lineup blending opulent antiquity and tailored modernism at Paris’s Palais Garnier. Dramatic structured outerwear pieces were styled with exotic leather belts and contrasted with lustrous silk tops. Bold colors like fuchsia, green, and burnt orange infused the designs with vital energy, while gold-trimmed knitwear and draped silk gowns added an air of regality to mix. Klausner’s debut for the beloved Antwerp label was met with applause, solidifying his vision for the brand’s future.

Haider Ackerman Debuts at Tom Ford

Haider Ackerman‘s debut for Tom Ford kicked off with a range of bold evening wear including slitted off-shoulder dresses, vibrant slim suiting, and luxurious leather garments for FW25/26. Leathers dominated the first half of the show, including a white crocodile top, an array of biker jackets, and one-handed motorcycle gloves. Colors were cast in expressive duos like electric blue and silver or neon green and pink, demonstrating Ackerman’s mastery of color.

Ackermann was appointed as Tom Ford’s creative director in September of 2024 following Peter Hawking’s sudden firing by the brand. Hawking, who worked under Tom Ford from the designer’s years at Gucci to Ford’s retirement, was terminated after only a year at the top job.

On Running Triples Net Profit in 2024 Exceeding $2.6 Billion USD in Sales

On Holding AG, parent company of On Running, reported an exceptional 2024 fiscal year, generating $2.6 billion in sales and tripling its net profit to 242.3 million Swiss francs. Surpassing its revised forecast, the company saw a 35.7% year-over-year increase in Q4 alone. Strong direct-to-consumer sales grew by 40.3%, while wholesale sales rose 22.8%. The Asia-Pacific market led with an 84.5% surge, followed by significant growth in the Americas and EMEA.

On Running’s success is fueled by the rising demand for performance athletic gear and high-profile collaborations with brands like Kith and stars like Zendaya. Looking ahead, On Holding AG anticipates a 27% sales increase in 2025, targeting $3.3 billion.