This week, fashion's biggest headlines spanned a vast spectrum of topics, including collaborations, sales reports, courtrooms, store openings and strikes.
Among the buzziest, adidas shared its Q1 2024 sales report, revealing that it had beaten analyst expectations and secured an 8% increase in sales in the period. Meanwhile, Dao-Yi Chow became the new creative director and vice president of New Era; Pharrell dropped off a fully-fledged jewelry collection with Tiffany & Co., and Stüssy opened its Milan chapter store.
Elsewhere, the U.S. Court of Appeals ruled against adidas' request to overturn the jury's verdict in its trademark lawsuit against Thom Browne last year; Judge Jennifer Rochon set the official court date for the FTC's lawsuit seeking to block Tapestry's acquisition of Capri, and Condé Nast Union members threatened to "walk off the job," amid contentious negotiations for a fair contract.
Below, Hypebeast has rounded up the top fashion stories of the week so you can stay up to date on trends in the industry.
adidas Beat Expectations With 8% Sales Increase in Q1 2024
adidas on Tuesday shared its financial report for Q1 2024, revealing that it surpassed expectations with an 8% increase in sales to reach €5.46 billion EUR in the three months ending March 31.
As the company continues to repair the damages caused by losing its popular YEEZY line and severing ties with Ye at the tail-end of 2022, adidas’ first-quarter growth was largely driven by higher demand for its Samba, Gazelle, Spezial and Campus franchises. “The growth is of course driven by our Lifestyle business right now, especially Originals footwear, but we also see that the higher end of our Running, Football and Basketball product is doing well,” said adidas CEO Bjorn Gulden in a statement.
The sales of the brand’s remaining Yeezy inventory generated revenues of roughly €150 million EUR during the quarter. Footwear revenues climbed 13% on a currency-neutral basis, thanks to momentum in the aforementioned Originals and Football categories, while apparel saw a 2% rise in sales. The brand recorded lower sell-in into the wholesale channel for apparel, due to high inventory levels in North America. Accessories sales, meanwhile, fell 1% in the period.
Dao-Yi Chow Named New Era Creative Director
Dao-Yi Chow, the designer who founded Public School with Maxwell Osborne and served as the lead visionary for brands including Sean Jean, Donna Karan, Sergio Tacchini and BRADY, has been named the creative director and vice president of New Era.
“New Era is a cultural icon and categorically the grail of headwear. To sit at the helm of a new direction for the brand that will complement its 100-year history in caps is an exciting task,” said Chow. “It is truly a full-circle moment, not only is New Era my cap of choice, but it was also the foundation of the headwear partnership for Public School at the time we launched our ‘We Need Leaders’ campaign. To be back with the team is exciting and I’m looking forward to introducing BRAND NEW ERA TM apparel to the world.”
Pharrell Joined Tiffany & Co. for "Titan" Jewelry Collection
Pharrell on Thursday revealed a fully-fledged jewelry collection with Tiffany & Co.
“I’m very inspired by the water, and the name of this collection, ‘Titan,’ draws inspiration from Poseidon, ruler of the sea, King of Atlantis — Atlantis, which is also the name of the community I grew up in Virginia Beach,” Williams said in a statement. “The detail in all of the jewelry pieces is very intentional, the use of black titanium…it’s a physical manifestation of beauty in blackness.”
Putting mood board to practice, the 19-piece collection’s necklaces, earrings, bracelets and rings are defined by spiked edges, nodding to Poseidon’s fabled trident. The most show-stopping of the lot is a $55,000 USD necklace, which sees the spear-shaped motif corral the neck in 18k yellow gold with pavé diamonds. There’s also a $39,000 USD clasp necklace and a $26,000 USD link bracelet composed of identical jewels. A $16,500 USD five-row ring similarly employs the expensive bling, while titanium earrings and pendants provide a dark contrast to the mix.
Pharrell’s Tiffany & Co. “Tiffany Titan” collection is now available to shop on the brand’s webstore. Prices range from $3,400 USD to $55,000 USD.
adidas' Three-Stripes Trademark Lawsuit Against Thom Browne Will Not Go Back to Court
On Friday, Thom Browne again won the court’s favor in his ongoing legal battle with adidas over his usage of stripes on his designs, according to WWD.
The United States Court of Appeals for the Second Circuit ruled against adidas’ appeal to overturn an eight-person jury’s verdict in Manhattan’s Southern District Court in January of last year. At the time, the jury declared that the American luxury designer did not infringe on adidas’ Three Stripes trademark and therefore was not liable for damages or profits from selling products with four stripes or its trademark grosgrain ribbon.
After considering the German sportswear brand’s appeal that the judge chose to exclude an important testimony, the court stated, “We have considered Adidas’s remaining arguments and find them to be without merit. For the foregoing reasons, the judgement of the district court is affirmed.”
Additionally, Judge Jed Rakoff, who presided over the original lawsuit last year, ruled against adidas’ appeal for a new trial against Browne. His order stated that “upon full consideration of the parties’ various submissions in connect with this motion and the record of the evidentiary hearing . . . the court hereby denies Adidas’s motion.”
Stüssy Opened Its Milan Chapter Store
Stüssy is continuing to build out its network of global brick-and-mortar stores with an all-new retail outpost in Milan, Italy. Conceptualized by Perron-Roettinger, the design studio behind the brand’s Honolulu, Bangkok and Singapore Chapter locations, the Milan Chapter store boasts a contemporary architectural facade with a largely wooden interior.
Guarded by floor-to-ceiling windows that tower high above street level, the storefront lures onlookers with a curvaceous wooden structure fitted with angular storage compartments, where Stüssy will house its latest goods. A logo-laden mat welcomes visitors into the grand foyer, which possesses moody lighting thanks to abundant spotlights on the ceiling.
Take a look at the shop here, and find its address below.
Stüssy Milan Chapter Store
Corso Garibaldi, 12, 20100 Milano M
Condé Nast Union Workers Threatened to "Walk Off the Job," Days Ahead of The Met Gala
After months of contentious negotiations with leadership for a fair contract, unionized Condé Nast employees and NewsGuild of New York announced on Monday that they are ready to “walk off the job” if management does not compromise. Just six days ahead of the Met Gala — “fashion’s biggest night,” chaired by Anna Wintour and heavily produced by Vogue — The Guild “guarantees a busy week, full of union actions to exert pressure on leadership, with a majority of members pledging ‘to do whatever it takes,’” according to TheWrap.
Condé United took to Instagram to share a video in which its members shared their reasons for threatening to strike. “I’m ready to strike for a fair contract. I’m ready to strike for fair wages,” several employees stated.
“The workers behind @vogue, @vanityfair, @teenvogue, @bonappetitmag, @glamourmag, @gq, and more are fed up with management’s laser-focus on layoffs and insulting contract proposals—such as a laughably low minimum salary proposal that wouldn’t even go into effect until next year,” the caption reads. “If management doesn’t want us to strike, they know exactly what to do!”
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Tapestry-Capri Merger Will Go to Court This September
The US Federal Trade Commission’s lawsuit seeking to block Tapestry, Inc., parent to the Coach and Kate Spade brands, from acquiring rival Capri Holding Ltd., which owns Michael Kors, Versace and Jimmy Choo, will head to court on September 9, according to a judge via Bloomberg.
The preliminary injunction hearing is expected to continue through the following week, per the judge. Should the judge rule against the merger, the fate of the Tapestry-Capri deal will be decided at the FTC’s in-house court.
“I’m going to work to keep the case moving very quickly,” Judge Jennifer Rochon said in Manhattan federal court earlier this week.
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