Weekly World Fashion News 11.6
This week: The 2024 CFDA Fashion Awards were announced; Miu Miu’s third-quarter retail sales surged by 105%; Estée Lauder Companies appoints Stéphane de La Faverie as the new CEO and President; Bottega Veneta launches a high jewelry collection; Bottega Veneta unveils its 2025 Pre-Spring collection; Burberry’s flagship store opens in Beijing’s Sanlitun area.
01 The 2024 CFDA Fashion Awards have been announced
The 2024 CFDA Fashion Awards were announced: Rachel Scott of the Diotima brand won the title of American Women’s Designer of the Year. She is a Jamaican-American designer known for her Caribbean-style designs; Willy Chavarria was named American Men’s Designer of the Year, having won the award last year as well. He is a Mexican-American designer known for his Oversize garments and sharp cutting techniques, and he launched his own brand in 2015 after working at several brands including Calvin Klein; Raul Lopez was namedAccessory Designer of the Year; Henry Zankov of the knitwear brand Zankov received the American Emerging Designer of the Year Award presented by Shop With Google. Additionally, Daniel Roseberry of Schiaparelli was named International Designer of the Year, and the “Positive Change Award” was won by Michael Kors.
02 Miu Miu’s Performance Continues to Soar in Fashion News
Prada Group has released its recent financial report, showing a 15% increase in sales for the nine months ending September 30, reaching 3.83 billion euros, up from 3.34 billion euros in the same period last year. Calculated at constant exchange rates, sales grew by 18%. Retail sales in the third quarter increased by 15% year-on-year to 3.42 billion euros, or 18% in constant currency terms. Among them, Miu Miu continued its strong growth, with retail revenue soaring by 97% over nine months and retail sales in the third quarter increasing by 105% year-on-year. Prada’s retail sales slowed down, with a year-on-year increase of 4% over nine months and a 2% increase in the third quarter.
Compared to the consecutive declines of LVMH Group and Kering Group, Prada Group’s performance is quite impressive. Miu Miu, which was just named the Hottest Brand of Q3 2024 by Lyst, continues its rapid rise, leading the pack by a wide margin.
03 Estée Lauder Appoints New CEO in Fashion News
Recently, Estée Lauder Companies has appointed Stéphane de La Faverie as the new Chief Executive Officer and President, set to take office on January 1 next year, succeeding the current CEO Fabrizio Freda, who is stepping down ahead of the originally planned schedule. Stéphane de La Faverie joined Estée Lauder in 2011 and has been serving as Executive Group President since 2020. Fabrizio Freda has been leading the group for over 15 years since 2009 and is set to retire.
04 Bottega Veneta Launches High Jewelry Collection in Fashion News
Bottega Veneta has launched a high jewelry collection. Under the guidance of Creative Director Matthieu Blazy, the brand has introduced a high-end jewelry collection comprising three series: Drop, Primavera, and Catena. These pieces are crafted with materials sourced with ethical procurement standards and meticulous craftsmanship, paying homage to the long history of the brand’s origins in the Veneto region of Northeast Italy.
05 Bottega Veneta Unveils 2025 Pre-Spring Collection in Fashion News
Recently, Bottega Veneta released its 2025 Pre-Spring collection in the form of a Lookbook. Under the direction of Creative Director Matthieu Blazy, Bottega Veneta’s campaign exudes a unique aura of freedom and romance, with designs that highlight the brand’s iconic craftsmanship.
06 Burberry Beijing Flagship Store Grand Opening in Fashion News
Recently, the Burberry flagship store in Beijing’s Sanlitun area was inaugurated, attended by brand ambassadors Chen Kun and Tang Wei, along with celebrities Xin Shuang, Tan Yuan Yuan, He Cong, MiKa, Lai Weiming, and others. The flagship store features the brand’s 2024 Winter collection, including ready-to-wear and accessories, with the store design incorporating Burberry’s iconic British elements.
