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Fashion

Alaïa struggles to find a replacement for Mulier

Astrid Wendlandt

2 August 2026

Alaïa has enjoyed spectacular growth under Pieter Mulier. His Teckel bags and ballerina flats sell like hot cakes and are copied by many brands. The Belgian designer left the brand a few months ago after having done a fantastic job revamping its image and restoring its fashion authority since 2021. Last month, Mulier started working for Alaïa’s rival Versace. He’s expected to present his new vision for the Italian brand early next year, Prada Group, its parent company, said on Thursday.

Alaïa is Richemont’s biggest success story in fashion. It’s a shame the group could not hold onto Mulier nor could the designer resist the call of his former mentor Raf Simons, co-creative director of the Prada brand.

Weekly Highlights

ARNAULT SPEAKS ON SOCIAL MEDIA

LVMH’s results got less media attention this week than an open letter by the group’s boss Bernard Arnault published on Sunday July 26 evening on the social media X (previously known as Twitter). Arnault’s first reply in person to a media report was peppered with sarcastic comments and settled scores. His missive addressed a six-part series by Le Monde that examined in detail his relationships with politicians, his group’s rigid and hierarchical corporate culture and the rivalries between his children from his first and second marriages.

PRADA STEALS THE SHOW DURING RESULTS WEEK

This week, Prada Group posted the most impressive results among listed luxury stocks like LVMH, Kering and Hermès. The Italian company is reaping the profits of strong governance and execution. It’s keeping the course in terms of strategy and vision in spite of the severe spending downturn.

Recent Publications

Fashion

Why Dior is improving only modestly while Chanel is on fire

Astrid Wendlandt

26 July 2026

When LVMH publishes its second-quarter results on Monday, investors will want to know if Dior’s sales are finally rising, boosted by demand for Jonathan Anderson’s designs, after several quarters of decline. Since he joined Dior a year ago, the Northern Ireland-born Anderson has successfully refreshed the brand and given it new relevance.

Strategy

For high spenders, a brand-hosted dinner is no longer enough

Victor Gosselin and Astrid Wendlandt

19 July 2026

Fashion and luxury brands need to up the ante if they want to hold on to their high-spending very important customers (VICs), experts and industry executives say. Competition for their loyalty and deep pockets has become much fiercer than it was two or three years ago.

Cosmetics

Coty could lose more licenses starting with Burberry

Astrid Wendlandt

12 July 2026

Coty is a shrinking company. You wonder what will be left of it in a few years’ time. This week, the New York-listed beauty group sold its Gucci perfume and beauty license, one of its biggest, to L’Oréal and Kering for $400 million. The next step could be selling or losing licenses with other big fashion and luxury brands. On the list, Burberry would be first, followed by Hugo Boss and others.

Fashion

Kering and Mayhoola may have to renegotiate Valentino deal

Astrid Wendlandt

5 July 2026

Kering is having second thoughts about buying the 70 percent in Valentino it does not already own due to the brand’s poor performance, sources close the French group said.

Strategy

Hermès is challenged as the crisis-resistant brand

Astrid Wendlandt

28 June 2026

For decades, Hermès was regarded as the only luxury brand of this size and importance that could resist any spending downturn. Not anymore. The current crisis is so severe, and consumer behavior has changed so much that even mighty Hermès is suffering a slowdown in sales growth. This week, the company’s share price dropped after several analysts published notes downgrading their price targets.

Fashion

EssilorLuxottica and L’Oréal keen to win first round for Armani

Astrid Wendlandt

14 June 2026

Beauty industry leader L’Oréal and Italian eyewear giant EssilorLuxottica are gearing up to do whatever it takes to prevent LVMH from getting its hands on Armani as the bidding process for a 15 percent stake in the Italian fashion company is about to start. Financial advisers estimate Armani to be worth around €6 billion.

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