SOSHIOTSUKI Makes Pitti Debut & Saks Global Files Bankruptcy in This Week's Top Fashion News

Summary

• Major business shifts include Saks Global’s Chapter 11 filing, SSENSE founders retaining ownership, and Richemont’s record-breaking Q3 sales driven by Hong Kong.

• On the creative front, Palace confirms a Hong Kong flagship, while SOSHIOTSUKI and Hed Mayner unveil FW26 collections at Pitti Uomo.

SOSHIOTSUKI Reveals ASICS & PROLETA RE ART Collabs on Pitti Uomo’s FW26 Runway

Japanese designer SOSHIOTSUKI made his debut at Pitti Uomo, presenting a Fall/Winter 2026 collection that bridges European tailoring with Japanese craftsmanship. The runway show at the Refettorio di Santa Maria Novella featured structural innovations, such as bias-cut shirts and curved lapels designed to create motion. Key highlights included collaborations with ASICS, teased via a blue velvet track hoodie, and PROLETA RE ART, which contributed distressed blazers featuring traditional sashiko stitching. Otsuki described the presentation as a form of “reverse importation,” bringing his unique, culturally blended lens to the spiritual home of Italian tailoring.

Saks Global Has Filed for Chapter 11 Bankruptcy

Saks Global has officially filed for Chapter 11 bankruptcy protection following a default on a $100 million USD interest payment in late December. The retail giant, which owns Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman, will initiate a court-supervised restructuring to manage its substantial debt load. As part of the transition, Geoffroy van Raemdonck, formerly of Neiman Marcus Group, has been appointed CEO, succeeding Richard Baker. To maintain operations during this period, Saks Global has secured $1.75 billion USD in new financing, ensuring that its physical boutiques and e-commerce platforms remain fully operational for customers.

SSENSE Founders Win Bid to Maintain Control

The Atallah family has successfully won a court-approved bid to retain full ownership of SSENSE, securing the platform’s future under its original founders. The deal, expected to close by February 13, 2026, allows the Montreal-based retailer to exit bankruptcy protection and avoid a third-party sale. Despite a challenging luxury market, SSENSE has maintained operations through interim financing and has already pre-paid for Fall/Winter 2025 and Spring/Summer 2026 inventory to support its brand partners. The executive team has reassured staff that day-to-day leadership will remain unchanged as the company focuses on stability and recovery.

Hed Mayner FW26 Finds the Silver Lining in Reimagined Archetypes

Hed Mayner presented his Fall/Winter 2026 collection at Pitti Uomo 109, showcasing a lineup that distorted classic silhouettes to magnify the human form. The Paris-based designer blended everyday archetypes with “off-kilter glamour,” pairing faded denim and slouchy cardigans with crushed velvet gowns and sequined trousers. The collection featured dramatic tailoring, including jackets with forward-curved sleeves and voluminous faux fur coats. Accessories played a major role, with models sporting collapsed leather handbags and a new footwear collaboration with Reebok—the NPC Insigna—which was heat-washed to achieve a warped, elongated aesthetic.

Richemont Defies Market Headwinds with Record-Breaking $7.4 Billion USD Quarter

Richemont reported a record-breaking $7.43 billion USD in sales for the third quarter, defying broader luxury market trends with an 11% revenue increase. The surge was driven largely by the jewelry division, including Cartier and Van Cleef & Arpels, which saw a 14% jump in sales. While the U.S. and Middle East markets posted strong growth, Hong Kong emerged as a critical driver, signaling a robust return of demand in the region. The conglomerate’s watch division also achieved a surprising 7% boost, overcoming challenges like high gold prices and Swiss trade tariffs.

Palace Skateboards Announces Upcoming Hong Kong Flagship Store

Palace Skateboards has officially confirmed the opening of its first physical retail location in China, with a new flagship store in Hong Kong set to open on February 7, 2026. Following successful expansions into Seoul and Fukuoka, the London-based brand continues its growth in key Asian markets. To celebrate the launch, Palace will release a series of exclusive commemorative items featuring localized designs. The store is expected to become a new hub for the city’s skate and fashion communities, blending Palace’s gritty British heritage with Hong Kong’s dynamic retail landscape.