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On Dec. 8, he announced the launch of his “Fight Fight Fight” men’s cologne and women’s perfume on his social media platform Truth Social, using a meme-style photo of him and First Lady Jill Biden to promote the fragrances. US lawsuits have yielded settlements worth more than $11 billion involving companies including 3M (MMM.N) and Chemours Co (CC.N) over contamination of water. The Belgian designer turned the Y/Project into one of Paris Fashion Week’s hottest emerging labels. In an exclusive interview, CEO Daniel Ervér outlined his strategy to turn the Swedish fast-fashion giant’s greatest weakness – its positioning above Shein but below Zara in the category’s pricing hierarchy – into a strength. Martens, a graduate of Antwerp’s prestigious Royal Academy, is one of fashion’s hottest designers with a knack for creating runway-ready fashion out of democratic materials like denim and jersey.

Today, the BoF team numbers more than a hundred people in London, New York, and Shanghai. He is based in London and oversees BoF’s luxury, fashion week, sustainability, global markets and opinion verticals. In 2020, the brand hired Renaud Salmon, a former Louis Vuitton and Marc Jacobs executive to helm its creative output, and has since added body lotions and hair perfumes. Carried in upmarket retailers like Harrods and Bloomingdale’s, the brand also has 14 standalone boutiques in the countries including China, the UAE and the US. Founded in 1983, the brand places emphasis on craftsmanship and manufacturing in its home country of Oman. Top sellers include Guidance, from $380, with notes of amber, vanilla and hazelnut.

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• An October 2024 CNN investigation into the watches was unable to find details on where they are being produced or who owns the company.

What Will Happen to Fashion If the World Misses Its Climate Targets?

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How should executives respond to these shifts?

Today, a successful store doesn’t only convey legitimacy for an online operation or serve as a billboard for a brand; it’s a crucial way to differentiate a business in a market with many players with similar value propositions. “Estée Lauder Companies’s lack of speed happened as prestige beauty became nimbler,” he said, adding that the entry of so many new indie brands and “faster-moving” consumers had created downward pressure. Increasing the pace of innovation, and adding new initiatives like a dedicated fragrance lab in Paris slated to open later this year, as well as increasing clinical credentials for its skincare brands are valuable and tangible. High-end retailers including Printemps are expressing interest in crypto payments as they search for new pockets of wealth to combat a sector slowdown. If implemented, a TikTok ban will have far-reaching consequences for the many fashion brands who rely on the TikTok to do marketing — and, since the roll-out of its now-popular TikTok Shop — even generate sales. Department stores joined forces and faced existential threats in an increasingly challenged environment.

Top fashion house brands will always have a stronghold in this category, but emerging indies with a robust founder story or connection to non-Western geographies or the cultural zeitgeist are edging in. But to replicate their success, the next cohort of indie fragrance brands must contend with a market that has changed. Viral hits Bof like the mass body care line Sol de Janiero’s body sprays or the French perfumer Maison Francis Kurkdjian’s Baccarat Rouge 540 have created a new cadence of trends. Sustainability editor Sarah Kent joins executive editor Brian Baskin and senior correspondent Sheena Butler-Young to discuss new revelations of forced labour in fashion’s supply chain, and why the industry can’t seem to consistently protect its workers. Over the past year, the pristine image luxury brands have built on their links to artisanal craft, ethical manufacturing and quality has begun to crumble, buffeted by a scandal that has linked labels including Dior and Armani to sweatshops in Italy. The American brand is seeing rising sales even as consumers rebel against high prices.

Nike slowed down, suffering from a lack of innovation in product and marketing, culminating in the departure of CEO John Donahoe in September. At the lowest end of the pricing spectrum, competition has ramped up with the advances of Temu and TikTok Shop, while Shein continues to fight for its initial public offering in London. As luxury consumers steadily gravitated away from streetwear, Our Legacy’s minimalist assortment of denim, soft tailoring and knitwear was a major beneficiary of the “quiet luxury” trend where shoppers valued a more elevated, logo-free style of dressing. Top-selling SKUs today include its $600 Camion leather boot, along with its trompe l’oiel distressed jeans made with its signature “digital denim” print technique. The brand also has a nascent womenswear business, which launched back in 2018. The luxury conglomerate’s venture arm—dedicated to investing in small creative companies—has taken an undisclosed minority stake in the brand, The Business of Fashion can reveal.

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