This week, some of fashion’s biggest news moments spanned a forthcoming special auction, brand revenue details, an antitrust lawsuit and more.
Leading the charge was the announcement of Christie’s forthcoming auction of Vivienne Westwood’s personal wardrobe. On its heels was the announcement of Miu Miu sales being up by 89% from last year.
Elsewhere, the LVMH Prize revealed its 2024 finalists; Hedi Slimane reportedly may be exiting Celine; the US sues to block an $8.5 billion USD Tapestry and Capri merger and Drake’s Nike NOCTA released its L’Art de L’Automobile Racing Collection.
Below, Hypebeast has rounded up the top fashion stories of the week so you can stay up to date on trends in the industry.
Christie’s To Sell Vivienne Westwood’s Personal Wardrobe
Christie’s is gearing up to sell the personal wardrobe of the late revolutionary fashion designer, Vivienne Westwood.
For the auction, Vivienne Westwood’s husband and the creative director of her label, Andreas Kronthaler, has curated special looks from her wardrobe to appear in two auctions. Comprising the two auctions will be over 200 lots that cover four decades of Westwood’s culture-shifting work.
The live auction is set to take place in London on June 25, while the online auction will run from June 14 through June 28. Additionally, the auctions are set to benefit a range of charities including The Vivienne Foundation, Amnesty International and Médecins Sans Frontières.
Miu Miu Sales Are Up 89% From Last Year
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Earlier this week, the Prada Group announced an 89% sales increase year-to-year for Miu Miu.
The playful air that has seen collegiate-inspired and pleated miniskirts has taken the fashion world by storm – appearing on magazine covers and global street-style looks. The 89% increase follows the previous year’s 58% increase in sales.
“Over the first quarter, we delivered a solid performance in a more challenging market environment,” Prada Group chairman Patrizio Bertelli said in a statement.
Meet the Eight 2024 LVMH Prize Finalists
Lvmh
The LVMH Prize is perhaps one of the most coveted fashion awards in the industry for emerging designers. The prize has seen past recipients like Casablanca, S.S. Daley, Peter Do, Marine Serre, Wales Bonner and more. Now, the conglomerate has revealed its 2024 LVMH Prize Finalists.
Hailing from places like Ireland, the Netherlands, the United States, Belgium and more, the nine finalists are Aubero, Duran Lantink, Hodakova, Marie Adam-Leenaerdt, Niccolò Pasqualetti, Paolo Carzana, Pauline Dujancourt and Standing Grond.
In addition to the grand LVMH Prize and the runner-up Karl Lagerfeld Prize, the award will also include another entitled the Savoir-Faire Prize. The finalists are set to present their collections on September 10 at the Louis Vuitton Foundation.
Hedi Slimane Reportedly May Exit Celine Amid Contract Negotiations With LVMH
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Earlier this week, Business of Fashion reported that Hedi Slimane is currently negotiating his contract with LVMH and as a result could be departing as Celine’s creative director.
Slimane has been the label’s design leader since Phoebe Philo’s departure in 2018, but as his six-year contract has come to a close, the designer and the luxury conglomerate are now in active negotiations. Additionally, it was reported that Slimane is requesting a higher-than-average salary, alongside royalties on all products.
Stay tuned for updates regarding Slimane’s extension or departure from Celine.
US Sues to Block $8.5B USD Tapestry and Capri Merger Over Antitrust Concerns
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The US Federal Trade Commission is suing Tapestry (Coach and Kate Spade’s parent company) to stop its $8.5 billion USD acquisition of Capri over antitrust concerns. The FTC stated that the deal would eliminate its competition in the luxury handbag market.
To note, Tapestry brings in over $12 billion USD annually from its brands like Stuart Weitzman, Coach and Kate Spade while Capri brings in roughly $4 billion USD from its roster than includes Michael Kors, Jimmy Choo and Versace.
The FTC said in a statement that the “proposed merger threatens to deprive millions of American consumers of the benefits of Tapestry and Capri’s head-to-head competition, which includes competition on price, discounts and promotions, innovation, design, marketing and advertising.”
L’Art de L’Automobile’s Racing Collection With Drake’s Nike NOCTA Line Is Here
Nocta
After previously teasing the collection last month, the full L’Art de L’Automobile’s Racing Collection from Drake’s Nike NOCTA was released.
Leaning into popular racing styles, the co-branded collection boasts a sizable selection of outerwear, tracksuits, a jersey, tees, waterproof pants and accessories. Special highlights include the blue and gold Racing Jacket, Bala Tech Jacket and multicolored long-sleeve jersey.
The collection first dropped on April 25 at NOCTA and dropped today on Nike’s SNKRS platform.