The Best of BoF 2024: Designer Reboots and a Rocky Market

Luxury brands found themselves under pressure this year. Shifting priorities, slowing economies — particularly in China — fatigue with luxury brands and frustration with soaring prices all played a part. The exposure of abusive practices in several brands’ Italian supply chains dealt a further blow to luxury’s prestige.

Brands updated their aesthetics (or prepared to) in a bid to jump-start demand: From Chanel to Valentino, Fendi, Givenchy and McQueen, companies reshuffled their creative lineups this year.

But the struggles faced by Gucci and Burberry as they sought to build momentum around new aesthetics shows how tricky executing a designer relaunch can be. As the year ends, dive into BoF’s in-depth conversations with leaders in creativity and business, whose vision shaped fashion in 2024 and for the years to come: Alessandro Michele, Nadège Vanhee, Bruno Pavlovsky, Francesca Bellettini, Jun Takahashi and more.

Thank you for staying engaged with BoF during a year packed with news and changes for luxury. We look forward to finding you in the New Year.

Top Stories

Why Chanel Chose Matthieu Blazy: The designer, fresh off a star turn leading Bottega Veneta, succeeds Karl Lagerfeld and Virginie Viard as artistic director at the French couture and beauty giant, the industry’s most coveted creative post. Fashion president Bruno Pavlovsky breaks down the logic behind the historic choice.

Alessandro Michele’s Valentino Vision: After a historic turn at Gucci, Alessandro Michele’s next move was the subject of intense industry speculation. Now, the superstar creative director and BoF 500 member has returned to fashion with a new vision for the storied Roman couture house Valentino.

Inside Luxury’s Slowdown: Economic headwinds, high prices and a lack of novel design are all weighing on what was previously fashion’s most dynamic segment. How severe is the slowdown and how long will it last?

Francesca Bellettini’s Plan For Kering: Topping off a transformative tenure at Saint Laurent, the Italian executive and BoF 500 member is co-piloting fashion’s highest-stakes turnaround effort as Kering’s deputy CEO for brand development. Can Bellettini engineer a rebirth for the luxury giant and its flagship label Gucci?

Analytical, Not Literal: Inside Nadège Vanhee’s Hermès Vision: By translating the French luxury house’s codes with a mix of rigour and rebellion, the designer has updated its vision of feminine elegance with a sportier, more body-conscious silhouette.

How Polène Is Growing French DTC Handbags Into an International Success: The Parisian leather goods is part of a new wave of thriving French direct-to-consumer brands. After growing its business to over $150 million, Polène’s CEO is inaugurating stores in London and Paris, with plans to set up shop in Munich, Dubai and Miami.

Are Luxury Brands Still Worth It?: Luxury’s results ‘superweek’ underscored just how far consumer demand has fallen. Macroeconomic gloom is part of the problem, but there may be deeper issues with big luxury’s value proposition.

Is This the End of Fashion History? Not So Fast: The Milan collections took endless trips down memory lane, but the likes of Francesco Risso’s Marni and Simone Bellotti’s Bally delivered originality, reports Angelo Flaccavento.

Audemars Piguet’s New CEO Could ‘Stop Growth’ to Focus on Desirability and Independence: The Big Four watchmaker will slow or even suspend production increases as new leader Ilaria Resta works to ‘solidify the company.’