Joanthan Anderson Exits Loewe & Nike's Falling Revenue Stirs Trouble in This Week's Top Fashion News
In this week's top fashion news, a long-rumored departure is confirmed, more unconventional collabs took shape, and iffy corporate news causes investors to raise eyebrows.First and foremost, one of the most rumored, yet saddening departures will take place at Loewe as Jonathan Anderson confirms his exit after 11 years. Nike also received sad news of another kind as it expects its steepest revenue drop in five years. In France, LVMH CEO Bernard Arnault is once again proposing an age-limit extension for his role to 85 years old, while Jacquemus and Air France unveil a special tie-up. In Japan, UNIQLO-parent Fast Retailing is extending its partnership with London's Tate Modern, and NY-based retailer Kith has opened its second Japanese location in Osaka.Below, Hypebeast has rounded up the top fashion stories of the week so you can stay up to date on trends in the industry.Loewe Confirms Jonathan Anderson Is Stepping Down as Creative DirectorRumors of Jonathan Anderson's departure from Loewe have colored discussions around the brand for months, but now the move is confirmed. In a rather quiet exit, Loewe opted out of the Paris Fashion Week runway schedule to host a curated exhibition reprising some of Anderson's iconic pieces like the Puzzle bag. At the time, the designer also posted a highlight-style reel reminiscing on his 12 years at Loewe, prompting further speculation of his coming departure. It wasn't until a week later on March 17 that the brand made the news official.As for the next creative lead for Loewe, speculation has arisen that Proenza Schouler designers Jack McCollough and Lazaro Hernandez may take the helm, after having stepped down from their New York-label. However, as of the time of writing an official successor to Anderson has not been confirmed by Loewe. Whoever is appointed will have big shoes to fill — Anderson is largely credited for the historic Spanish fashion house's rejuvenation, elevating the brand with his contemporary cache and affinity for surrealism.Nike Expected to Post Worst Revenue Drop Since 2020 PandemicNike expects the worst revenue fall since the COVID-19 pandemic that rocked the industry in 2020. According to a report from Business of Fashion (BoF), falling foot traffic, app downloads, and inventory crises are heavily impacting the brand’s performance. BoF cites data from LSEG, sharing that Nike is poised to report an 11.5% revenue decline, making it the company’s sharpest decline since the 38% drop reported in the fourth quarter of fiscal 2020. Key data points that indicate Nike’s declining performance include an 11% drop in foot traffic at Nike stores (Raymond James) and a 35% drop in Nike app downloads (Sensor Tower).Nike's consistent struggle to get back on its feet after the pandemic prompted the recent C-Suite shake-up aimed at rehabilitating the brand. The appointment of Nike veteran Elliot Hill as CEO late last year sparked a more optimistic outlook following former CEO John Donahue’s departure. With Hill's initiatives, including the announcement of the NikeSKIMS line, a joint venture with Kim Kardashian‘s shapewear brand aimed at offering solution-oriented activewear for women, and early 2025 sneaker drops like the Pegasus 41 and Pegasus Plus and the Vomero 18, time will tell if Nike’s reinvigorated initiatives will show on its bottom line.Bernard Arnault Wants To Run LVMH Until He Is 85LVMH CEO Bernard Arnault has proposed a second resolution to increase the age limit of his company's CEO seat. The 76-year-old executive, who is is currently the fifth richest man in the world, aims to hold onto his position for another he is 85. In 2022, shareholders already voted in favor of a resolution that extended the age limit from 75 to 80.Recently, sons Alexandre Arnault and Frédéric Arnault joined the board of directors with siblings Antoine and Delphine Arnault (Head of communication, image and environment at LVMH and chairman and CEO of Christian Dior Couture, on the board, respectively). Alexandre has been promoted to deputy CEO of Moët Hennessy, LVMH’s wines and spirits division while Frédéric got onboarded to Loro Piana as CEO. Lastly, the youngest sibling, Jean Arnault, is the director of watches at Louis Vuitton. Whether or not Bernard will stay at the helm of LVMH until he is 85 will be determined at the AGM next month.Exclusive Jacquemus Pajamas Come With Air France's New First-Class AmenitiesA first-of-its-kind pajama collaboration with French designer Jacquemus has been unveiled in Air France's updated La Première first-class cabin experience. Passengers flying on Air France’s La Première in Spring 2025 will receive the complementary Jacquemus-designed loungewear to wear in-flight and at home. The cotton sets are also offered in both red and blue variants, representing the classic French palette. Air France’s equestrian La Première emblem is embroidered on the breast, while dual Jacquemus and Air France tags are showcased inside the neck.The partners have pro
In this week's top fashion news, a long-rumored departure is confirmed, more unconventional collabs took shape, and iffy corporate news causes investors to raise eyebrows.
First and foremost, one of the most rumored, yet saddening departures will take place at Loewe as Jonathan Anderson confirms his exit after 11 years. Nike also received sad news of another kind as it expects its steepest revenue drop in five years. In France, LVMH CEO Bernard Arnault is once again proposing an age-limit extension for his role to 85 years old, while Jacquemus and Air France unveil a special tie-up. In Japan, UNIQLO-parent Fast Retailing is extending its partnership with London's Tate Modern, and NY-based retailer Kith has opened its second Japanese location in Osaka.
Below, Hypebeast has rounded up the top fashion stories of the week so you can stay up to date on trends in the industry.
Loewe Confirms Jonathan Anderson Is Stepping Down as Creative Director
Rumors of Jonathan Anderson's departure from Loewe have colored discussions around the brand for months, but now the move is confirmed. In a rather quiet exit, Loewe opted out of the Paris Fashion Week runway schedule to host a curated exhibition reprising some of Anderson's iconic pieces like the Puzzle bag. At the time, the designer also posted a highlight-style reel reminiscing on his 12 years at Loewe, prompting further speculation of his coming departure. It wasn't until a week later on March 17 that the brand made the news official.
As for the next creative lead for Loewe, speculation has arisen that Proenza Schouler designers Jack McCollough and Lazaro Hernandez may take the helm, after having stepped down from their New York-label. However, as of the time of writing an official successor to Anderson has not been confirmed by Loewe. Whoever is appointed will have big shoes to fill — Anderson is largely credited for the historic Spanish fashion house's rejuvenation, elevating the brand with his contemporary cache and affinity for surrealism.
Nike Expected to Post Worst Revenue Drop Since 2020 Pandemic
Nike expects the worst revenue fall since the COVID-19 pandemic that rocked the industry in 2020. According to a report from Business of Fashion (BoF), falling foot traffic, app downloads, and inventory crises are heavily impacting the brand’s performance. BoF cites data from LSEG, sharing that Nike is poised to report an 11.5% revenue decline, making it the company’s sharpest decline since the 38% drop reported in the fourth quarter of fiscal 2020. Key data points that indicate Nike’s declining performance include an 11% drop in foot traffic at Nike stores (Raymond James) and a 35% drop in Nike app downloads (Sensor Tower).
Nike's consistent struggle to get back on its feet after the pandemic prompted the recent C-Suite shake-up aimed at rehabilitating the brand. The appointment of Nike veteran Elliot Hill as CEO late last year sparked a more optimistic outlook following former CEO John Donahue’s departure. With Hill's initiatives, including the announcement of the NikeSKIMS line, a joint venture with Kim Kardashian‘s shapewear brand aimed at offering solution-oriented activewear for women, and early 2025 sneaker drops like the Pegasus 41 and Pegasus Plus and the Vomero 18, time will tell if Nike’s reinvigorated initiatives will show on its bottom line.
Bernard Arnault Wants To Run LVMH Until He Is 85
LVMH CEO Bernard Arnault has proposed a second resolution to increase the age limit of his company's CEO seat. The 76-year-old executive, who is is currently the fifth richest man in the world, aims to hold onto his position for another he is 85. In 2022, shareholders already voted in favor of a resolution that extended the age limit from 75 to 80.
Recently, sons Alexandre Arnault and Frédéric Arnault joined the board of directors with siblings Antoine and Delphine Arnault (Head of communication, image and environment at LVMH and chairman and CEO of Christian Dior Couture, on the board, respectively). Alexandre has been promoted to deputy CEO of Moët Hennessy, LVMH’s wines and spirits division while Frédéric got onboarded to Loro Piana as CEO. Lastly, the youngest sibling, Jean Arnault, is the director of watches at Louis Vuitton. Whether or not Bernard will stay at the helm of LVMH until he is 85 will be determined at the AGM next month.
Exclusive Jacquemus Pajamas Come With Air France's New First-Class Amenities
A first-of-its-kind pajama collaboration with French designer Jacquemus has been unveiled in Air France's updated La Première first-class cabin experience. Passengers flying on Air France’s La Première in Spring 2025 will receive the complementary Jacquemus-designed loungewear to wear in-flight and at home. The cotton sets are also offered in both red and blue variants, representing the classic French palette. Air France’s equestrian La Première emblem is embroidered on the breast, while dual Jacquemus and Air France tags are showcased inside the neck.
The partners have produced four different sizes and two different necklines, giving passengers the option to choose the most comfortable option. For a playful touch, the pajamas come with a red poplin bag adorned with the maison’s signature “round-square” buttons. The pajamas accompany the full revamp of the La Première cabin experience in a forthcoming selection of Boeing 777-300ERs, featuring 4 suites of 3.5 square meters.
UNIQLO's Tate Modern Pop-up Will Celebrate the London Gallery's 25th Anniversary
UNIQLO has been announced as an official partner for the renowned Tate Modern gallery’s 25th-anniversary celebrations to administer special programs and hold a season-long pop-up. The towering London museum, which occupies a renovated industrial building on the Thames River, will host the UNIQLO Tate Shop and its related activations from May 9 to September 16. The space will offer exclusive Tate Modern x UNIQLO merch including special tees with graphics from artists including Louise Bourgeois, Ayoung Kim, and Salvador Dalí. T-shirt previews depict iconic works such as Bourgeois’ bronze spider and Salvador Dalí’s lobster telephone with UNIQLO x Tate Modern cobranded logos.
Tate Modern’s birthday weekend on May 9 to 14 will include special talks, workshops, tours, and free experiences, anchored by interactive art installations and live performances. Inspired by UNIQLO’s LifeWear philosophy of “Art for All,” the brand will also lead creative workshops starting at the birthday weekend.
Kith Opens New Osaka Flagship
Nestled in the lively neighborhood of Osaka, Kith's new Japanese flagship is the brand’s second location in the Asian country. Opening on March 21, customers can browse a full range of apparel, accessories, and footwear for men, women, and kids. The store hosts a monolithic travertine space with Venetian plaster walls, rosewood ceilings, and floor-to-ceiling windows.
The Osaka location's exclusive products include sweatshirts, baseball caps, and logo tees, like the Kith Osaka Tiger Souvenir Reversible Jacket, which features an embroidered Tiger. Other exclusive pieces include collaborations with New Era and Kaikado, which honor Japan’s love for baseball caps. Kith and New Balance have also presented an exclusive sneaker to celebrate the store opening. The Made in USA 992 & Made in UK 991v2 have been updated in two new pastel colors with limited quantities available at the grand opening today. The store will be open daily from 11 am to 9 pm.
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