The luxury fashion industry has a fresh term, back-to-school feeling. Rested from its annual August hiatus, announcements are coming in thick and fast, filling the empty top jobs that were dogging many of the luxury business’ biggest names throughout the summer.
The constant creative director reshuffles reached new highs recently with vacancies at Chanel, Tom Ford and Givenchy, and many more, not to mention the ever murmuring rumour mill about creative movements like a giant game of chess. Consumers are desperate for direction.
People have been appointed, Sarah Burton at Givenchy, a solid pair of hands but not (with all due respect) a brand visionary in the vein of, say, Hedi Slimane at Celine (more on him later). With Haider Ackermann now at Tom Ford, we can expect luxury with an artistic, fluid twist. It’s starting to feel like fashion’s jigsaw pieces are finally falling into place.
Sarah Burton
Many are hopeful that the post-Covid creative malaise that has led to less than exciting fashion on the catwalks is coming to an end. There is optimism now that the new creative talents in new roles will take the industry in a more exciting direction.
All this movement has come at a particularly tough time for the luxury fashion industry with many brands seeing sales dipping. HSBC recently released a report subtitled ‘Cruel Summer’, cutting the luxury business’ organic growth outlook for 2024 nearly in half – from 5.5% to 2.8% – following financial statements from brands including Burberry, Hermès, Kering, LVMH, Richemont, Swatch, Moncler brand and Prada retail. It said the market is seeing its “sixth worst year” in the last 20 years.
Haider Ackermann
The most anticipated jigsaw piece is Chanel – the storied Parisian house has yet to announce who will take over its vacant creative director post but the announcement could drop in the middle of the night any time soon, just like the exit news of its previous creative director, Virginie Viard (though that was said to have been leaked before Chanel had its story straight).
Virginie Viard
Chanel seems to be hanging around for no good reason. There has been barely a word from the house since Viard left. There were some rather snobby comments around the house not needing a designer who does the same thing everywhere they go – assumed to be aimed at Celine’s Hedi Slimane who many were tipping as a shoo-in for the role – but these do seem somewhat misguided. Many have realised, now that the late, great Karl Lagerfeld is gone, how much Chanel did depend on its designer even with the rich history and instantly recognisable design codes of the house.
It feels like this strong brand is in flux. Yes, it needs to take its time and get the decision right but taking too long looks like indecision and a lack of confidence in whoever will take on the role (the latest hot tip for the role now that Hedi Slimane speculation ahas died down is Simon Porte Jacquemus who is said to have presented to the Chanel board and its owners the Wertheimer family). Chanel has been well aware of all potential names for a very long time and big fashion houses are always scoping out and talking to design talent whether they have an opening or not. It feels like Chanel may be looking for a lifer like Karl but that will be difficult to find. It’s 2024 not 1983.
Christopher Kane
Other interesting, more affordable fashion jigsaw pieces slotting into place include Clare Waight Keller becoming creative director at Uniqlo, though she had already been producing her C range for the Japanese fashion chain for a few seasons. Glenn Martens is leaving Y/Project; many thought it was his own brand and he is a real talent and will be going somewhere BIG. Also Christopher Kane is guesting at Self Portrait; that’s a great fit and he has fantastic womenswear ideas.
Fashion had a feeling it was wandering through a creative desert, in a transition period from ugly sportswear and branded merchandise. It became more about the business, branding and money than the design. Hopefully, the balance can be readdressed. Falling sales has made many brands reassess their strategies, realising that strength stems from the creative direction and creative directors need time to realise their vision.
Clare Waight Keller
Most of these appointments won’t have any visual impact until 2025, five years after Covid struck. This is a perfect moment for fashion to enjoy some stability and recapture people’s imaginations again. By next year, the luxury fashion industry could be in a stronger position for the next potential growth cycle.
Let’s hope for some great design translated into well-made clothes at not astronomical prices. We can but dream!
