Photo: Dave Kotinsky/Getty Images for Audi Canada
These are the stories making headlines in fashion on Monday.
WHP Global acquires Vera Wang fashion brand
New York-based brand management firm WHP Global has acquired the Vera Wang fashion brand, effective January 2025. Vera Wang, the designer, remains the CEO and creative director and will join WHP Global as a shareholder. The brand is the latest addition to WHP Global’s growing fashion portfolio, including Isaac Mizrahi, Rag & Bone, Joe’s Jeans, Anne Klein and Express. “Together, we will push boundaries, exploring bold opportunities to expand into new categories and markets, all while staying true to the legacy of timeless sophistication and the distinctive style that defines Vera Wang,” Wang said in a statement. {PR Newswire}
TikTok Shop’s sales outpace Shein and Sephora
In just a little more than a year since its launch, TikTok Shop has already outperformed well-established online retailers like Sephora and Shein among U.S. shoppers, according to a report by Coefficient Capital and The New Consumer’s Dan Frommer. The report found that 80% of the surveyors know TikTok Shop and 45% buy at least one item a month from the platform. Leading purchased items include “fashion, clothing and accessories” with beauty products following closely behind. {The New Consumer/paywalled}
London Fashion Week gets shortened for Fall 2025
The London Fashion Week Fall 2025 calendar will look different from past seasons: Running from Feb. 20 to 23, the season is condensed a day shorter. Calendar favorites including Harris Reed, Burberry, Erdem, Simone Rocha, Richard Quinn, Connor Ives and Dilara Findikoglu are scheduled to return. However, big names like JW Anderson, Chopova Lowena, Nensi Dojaka and Knwls are absent from the provisional schedule. {WWD/paywalled}
Capri reportedly looking to sell Jimmy Choo and Versace
Capri Holdings is working with Barclays to sell off Jimmy Choo and Versace, sources told WWD. There is no news on Capri’s asking offer or if the brands are to be sold separately or together, though the process is speculated to have already begun. The sale format is also unclear, but it’s hinted that an auction is being considered. If Capri sells Jimmy Choo and Versace, Michael Kors would be its remaining portfolio talent. This company move comes on the heels of Capri’s failed $8.5 billion attempted merger with Tapestry Inc. {WWD/paywalled}
More than 300 Martin Margiela pieces are set to go to auction
The largest-ever single auction of Maison Margiela items is happening in Paris on Jan. 27, during Haute Couture Week. Kerry Taylor Auctions and Maurice Auction will present more than 300 comprehensive items of founder Martin Margiela‘s work from the private collection of sisters Angela and Elena Picozzi. Key items include hand-drawn sketches, original paper patterns and rare garments from Margiela’s early years. {Business of Fashion/paywalled}
Hugo Boss faces massive financial decline
Hugo Boss‘ shares are down nearly 40%, experiencing one of its worst financial declines in more than a decade, per Bloomberg. It reportedly lost an estimated €1.8 billion in its market value for 2024. The German company tried to turn around sales by courting younger consumers but fell short due to inflation and shoppers’ growing interest in off-price. It reflects a greater trend of the declining demand for designer goods in the luxury market. For 2025, analysts are hesitant if the premium brand can make up extensive ground: “With questions over the quality of top-line growth at Hugo Boss and limited room to maneuver on pricing, we would anticipate it to be another challenging year,” Felix Dennl, an analyst at Bankhaus Metzler, told Bloomberg. {Bloomberg/paywalled}
Source: Fashionista.com
