Met Gala 2024 and Tapestry Falls Below Q3 Sales Expectations in This Week’s Top Fashion News

Stay up to date on the latest industry headlines.

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This week, some of fashion’s biggest news moments spanned the Met Gala, sales figures, collection announcements and more.

Leading the charge was the 2024 Met Gala and the opening of the Sleeping Beauties: Reawakening Fashion exhibition. On its heels was the announcement of Tapestry’s Q3 sales falling below expectations.

Elsewhere, Travis Scott released a signature Jordan Brand apparel and footwear collection; SKIMS launched a new men’s campaign and shop; Wales Bonner and adidas revealed their SS24 collection and Levi’s dismissed its lawsuit against Brunello Cucinelli.

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

Met Gala 2024

Earlier this week, it was the first Monday in May, which meant the annual Met Gala – one of fashion’s premier tentpole events aside from global fashion weeks. Hosted by Zendaya, Bad Bunny, Jennifer Lopez and Chris Hemsworth, this year’s event saw a range of stars across global fashion, entertainment, music, tech and art industries.

Aside from the Gala festivities, the event always opens the new exhibit at the Met’s Costume Institute. Entitled Sleeping Beauties: Reawakening Fashion, the exhibition spans about 220 garments and accessories from four centuries.

“When an item of clothing enters the Costume Institute collection, its status is changed forever,” reads the exhibition’s description. “What was once a vital part of a person’s life is now a motionless ‘artwork’ that can no longer be worn or heard, touched, or smelled.”

Take a look at some of the best looks from the 2024 Met Gala here and a look inside the new exhibition here.

Coach-Owner Tapestry Falls Below Q3 Sales Expectations, Amid Legal Battle to Acquire Versace-Owner Capri

Coach’s parent company Tapestry has been making headlines due to its battle to acquire rival company Capri, which owns brands like Versace, Jimmy Choo and Michael Kors. Now amidst its acquisition squabbles, Tapestry’s newly reported third-quarter financial results revealed that its sales figures fell below Wall Street expectations.

Tapestry’s net sales hit $1.48 billion USD, which falls below the analyst forecast of $1.5 billion USD by March 30, according to LSEG data via Reuters. Additionally, the company’s revenue figures has decreased since the past year.

In the Q3 financial report press release, Tapestry detailed that it’s “confident in the merits and pro-competitive, pro-consumer nature of this transaction and looks forward to presenting its strong legal arguments in court.”

Travis Scott Becomes First Non-Athlete to Release Jordan Brand Sneaker and Apparel Collection

Travis Scott is beefing up his apparel and footwear release with the announcement of his new signature collection with Jordan Brand – making the rapper the first non-athlete to receive a signature apparel and sneaker line with Jordan.

On the footwear side, the collection sees the signature Jumpman Jack sneaker in “Dark Mocha, “University Red” and a limited edition “University Red.” With apparel, the collection spans heavyweight tees, muscle tees, hoodies, shorts and accessories. Aside from various graphic designs, the apparel pieces are complete in dark colorways that lean into tones of brown, gray and beige.

The Travis Scott x Jordan Signature Apparel Collection is now available online at Travis Scott.

SKIMS Mens is For “EVERY BODY”

Kim Kardashian’s SKIMS has been taking the space of intimates, shapewear and loungewear by storm with its range of versatile pieces, standout campaigns and big partnerships. Recently, SKIMS has also been growing its men’s arm, but now it’s gotten even bigger with the new men’s “EVERY BODY” campaign.

Shot and directed by Vanessa Beecroft, the campaign reveals a cast of 40 men to showcase the brand’s diverse focus. But aside from the visuals, the campaign shines a light on the growth of the SKIMS men’s shop, which now features underwear, athletic wear, loungewear, sleepwear and more.

“In the same way anyone can be a SKIMS woman, anyone can be a SKIMS man too,” said Kim Kardashian in a statement. “Regardless of lifestyle, age or body type, everyone should feel their most comfortable and confident in their everyday essentials.”

Take a Look at the Wales Bonner x adidas SS24 Collection

The Wales Bonner x adidas collaborations have been on fire – consistently remaining one of the most sought after collabs of the moment across apparel and of course, the signature adidas Samba. Now, there’s a full look at what’s to come for the SS24 season across apparel and footwear for Wales Bonner x adidas.

On the footwear front, the Millennium leads the charge. Debuting in the early 2000s, the revitalized shoe almost has a bowling-like presence with its paneled leather upper and contrasting heel. Aside from the Millennium, footwear always sees the adidas Samba MN and the adidas SL72.

On the apparel side, the collaboration continues its love for tracksuits – opting for boldly-hued shades of dandelion/lime green and cobalt/tangerine/beige. But the sporty aesthetic continues with short and long-sleeve tees, printed shorts, tank tops and lightweight jackets.

The SS24 Wales Bonner x adidas collection is set to be released on May 20 online at adidas.

Levi’s Ends Lawsuit Against Brunello Cucinelli Over “Infringing” Tabs

According to Business of Fashion, this past Tuesday Levi Strauss & Co. dismissed its lawsuit against Brunello Cucinelli for “trademark infringement, dilution and unfair competition.”

To note, the case was dismissed with prejudice, which means that the claims cannot be brought back to court. To lawsuit was first filed in January and claimed that Brunello Cucinelli “misappropriated LS&Co.’s famous Tab trademark as a symbol for their own apparel products.”

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