From the ever-changing business of fashion to the debut presentations of creative directors, we look back at June's biggest news stories in fashion.
- Stella McCartney opens Old Bond Street flagship
Located in the 18th Century building 23 Old Bond Street, Stella McCartney’s four floor, 700 sq meter space is a typically subtle hybrid of luxury and sustainability. Featuring biodegradable mannequins and an air pollutant filter within the same space as an invite-only atelier with unique products, the boutique confirms the British designer as an authority of eco-luxe.
- Bottega Veneta appoints Daniel Lee its new creative director, succeeding Tomas Maier
British designer Daniel Lee, who was recently director of Céline's RTW, is set to become Bottega Veneta’s Creative Director, taking over Tomas Maier, who was in the position for 17 years. The CSM graduate will join the brand during a recent decrease in growth; his youth bringing "a new and distinctive creative language that will continue building the house's success based on the ambitious foundations already developed over many years," according to CEO Claus Dietrich Lahrs.
- Tomas Maier to close own label
Kering has terminated its business operations with Tomas Maier and his brand, soon after replacing him with Daniel Lee as Creative Director of Bottega Veneta. The conclusion of the brand will lead to the closure of two New York stores as well as its presence on e-platforms. The liquidation is expected to be complete by 2019.
- Kering to sell Christopher Kane back to designer
After a 5-year partnership, Kering is moving towards selling its 51 percent stake in fashion label Christopher Kane back to its namesake designer. Although the initial acquisition of the brand was made at an undisclosed sum - partly to aid the creation of Kane’s Mount Street store - the brand is said to have never experienced a significant growth.
This and the previous news story come at a time when Kering is allegedly cutting back on investments to focus on its most successful brand, Gucci, which had a 48.7 percent increase in sales at the beginning of the fiscal year. In January, for example, the group announced it would be cutting down their investment of Puma from 86 percent to 16.
- Missoni sells a minority stake to FSI Mid-Market Growth Equity Fund
The family-owned Italian brand has sold a 41.2 percent stake to private equity firm for an investment worth €70 million. Creative Director Angela Missoni will remain in the position she has been in since 1996 while Michele Norsa of FSI will join the Missoni board.
- Dries Van Noten sells majority stake to Puig
The Spanish group Puig, which owns Carolina Herrera, Nina Ricci, Paco Rabanne and Jean-Paul Gaultier, has bought an undisclosed but ‘significant’ stake of Dries Van Noten’s fashion label. The news came at a surprise to many; Van Noten has cultivated a reputation of refusing to give in to the business pressure of creating diffusing lines, fragrances and influencer marketing. Having been one of the few last remaining independant houses, the brand is equally known for generating major revenur from ready-to-wear rather than accessories.
- Virgil Abloh and Kim Jones debut at Louis Vuitton and Dior respectively
When Virgil Abloh’s position as Creative Director of Louis Vuitton’s menswear was announced, many speculated as to how the French luxury heritage brand would work under the creative vision of an American streetwear designer. Abloh’s first show, through the inspiration of the colour spectrum, was a fresh merge of the designer’s athleisure roots and Louis Vuitton’s classic signature.
Kim Jones’ debut at Dior Men (formally Dior Homme), contrastingly, was a more romantic and technically intricate approach to menswear, having been inspired by the house’s legacy in Haute Couture.