Balenciaga Appoints Pierpaolo Piccioli & Nike Announces US Price Hikes in This Week’s Top Fashion News

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Summary

  • As former Valentino designer Pierpaolo Piccioli is named Balenciaga’s new creative director, Lemaire has opened its first Chinese boutique, and Gentle Monster has inked a new collaboration with Google.
  • Nike has officially announced the implementation of price increases, while Chanel pulls back on its aggressive pricing strategy due to falling sales. Elsewhere, VF Corporation’s shares took a tumble as it reported a dip in revenue.

Down below, we’ve gathered the most significant fashion news from the past week to ensure you’re always informed about the latest style developments within the industry.

Pierpaolo Piccioli Named Balenciaga’s New Creative Director

Effective from May 19, it was officially announced that Pierpaolo Piccioli, a former designer at Valentino, has taken on the role of creative director at Balenciaga, which is owned by Kering. Picciolo will start his new position on July 10 and his first collection for the brand will be unveiled in October. In a statement, Picciolo expressed his excitement about joining Balenciaga, stating that it’s a brand with immense potential and a rich history, always staying true to its aesthetic values while evolving and changing. It’s worth noting that Piccioli left Valentino after 25 years last year, and his Fall 2024 collection was his final work for the Italian fashion house. Picciolo is replacing Demna, who will present his final couture collection for Balenciaga in July before moving on to Gucci.

Nike’s Prices in the US Are Going Up

Starting in June in the U.S., Nike plans to raise retail prices, followed by an increase in wholesale prices in July, as reported by Complex. Earlier in the week, Nike’s retail partners were informed about this change, as the company aligns with other industry leaders modifying their pricing strategies due to tariff uncertainties. The price increases will vary from $2 to $10, except for “Jordan apparel and accessories, all children’s footwear and apparel, and all footwear under $100,” as well as Air Force 1s, according to Complex’s report. As Nike’s fiscal year ends on May 31, the new pricing strategy is scheduled to be implemented with the commencement of its new fiscal year on June 1.

Chanel’s Sales Slid 4%, Forcing the House To Ease off of Price Hikes

In a first since 2020, Chanel’s sales dropped by 4.3% to $18.7 billion USD, and their operating profits decreased by 30% to $4.5 billion USD in the fiscal year 2025. Due to this situation, Chanel is reconsidering the recent price increases, particularly on its iconic handbags. In a statement, Chanel’s CFO Philippe Blondiaux mentioned that despite the decline in sales, Chanel remains robust as it prepares for a rebrand under the artistic leadership of Blazy. He also noted that the average pricing impact they had for fashion was 3% in the previous year, which he considered to be in line with or even less than global inflation. The company plans to continue this policy, adjusting prices according to global inflation levels in 2025.

Google Announces New Partnership With Gentle Monster for AI Smart Eyewear

In collaboration with Gentle Monster and Warby Parker, Google is planning to expand its AI-powered Smart Glasses line with a stylish approach, as showcased at its I/O 2025 event. Shahram Izadi, the General Manager and Vice President of Google XR, emphasized the elegance and key design aspects shared by both brands while unveiling their upgraded Android XR devices. This announcement is a strong contender in the market, following Meta’s strategic partnership with Ray-Ban for smart glasses, which has gained significant attention. At this point, Google has not disclosed launch dates or pricing details regarding future collaborations with Warby Parker and Gentle Monster.

Take a Look Inside Lemaire’s First China Boutique in Chengdu

As a gamer, I’ve just stepped into my new gaming paradise in Chengdu’s Taikoo Li district, China – Lemaire’s first ever boutique! This stunning 140-square-meter space is the brainchild of F.O.G. Architecture, masterfully blending contemporary serenity with rich cultural heritage.

Upon entering, I’m greeted by a tranquil passageway lined with potted plants housed in traditional Sichuan sauce jars, reminiscent of classic Chinese architecture’s under-eaves spaces. It feels like a sacred journey into this immersive gaming world.

The space is adorned with local bamboo, recurring as flooring, curtains, and even textures that mimic woven bamboo. The ambiance is further enhanced by the subtle integration of traditional Sichuan crafts, the result of a beautiful collaboration between architects, local artists, and regional artisans.

I can’t wait to immerse myself in this unique gaming experience, surrounded by the harmonious blend of contemporary design and cultural heritage!

Vans and The North Face-Owner VF Corp Sees Share Value Tumble

This week, VF Corporation, which owns brands like The North Face, Vans, Timberland, and others, released its fourth quarter fiscal year 2025 financial report. The corporation’s overall quarterly revenue decreased to approximately $2.1 billion USD. As a result of this news, the company’s share price dropped from $14.43 USD on Tuesday to $12.15 USD today, representing a decline of 15.80%.

However, The North Face showed growth with a 2% increase in revenue, amounting to $834.5 million USD compared to the same period last year. Timberland also reported a rise, with a 10% increase in net revenue to $376 million USD. Unfortunately, Vans and Dickies experienced losses, with Vans declining by 22% to $492.6 million USD and Dickies dropping 14% to a total of $139.3 million USD in net revenue.

Looking ahead, VF Corporation believes it is equipped to navigate the challenges posed by tariffs, thanks to strategies such as expediting distribution during the 90-day pause, optimizing sourcing, and implementing other measures.

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2025-05-23 23:56