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Prada Group Revenue Thrives and adidas Warns of Price Increases Amidst Economic Uncertainty in This Week’s Top Fashion News

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This article gathers the most significant fashion news items of the past week, helping you stay current with the latest happenings in the fashion world.

Miu Miu Is Winning Luxury’s Race to Recovery, Reporting 60% Sales Jump

In Q1 this year, Prada Group experienced a 13% rise in revenue from 1.19 billion euros to 1.34 billion euros compared to the same period last year, demonstrating resilience amidst economic challenges that have adversely affected luxury sales since 2024. As reported by WWD, Miu Miu saw a significant 60% surge in sales during the first quarter of 2025, which ended on March 31. This growth was primarily fueled by increased leather goods sales and the expanding footwear category within the brand.

Despite a consistent increase of over 10% in total sales across Europe, America, and Asia, it’s the Middle East that has outshone all other regions with a staggering 31% rise in sales. It remains uncertain if the integration of Versace into Prada Group will impact their performance significantly. Acquired from Capri Holdings for €1.25 billion, Versace experienced a significant downturn in the last quarter of 2024, registering a 15% decline in sales.

adidas Warns of US Price Hikes Despite Doubled Growth

In the first quarter of 2025, Adidas surpassed expectations by increasing its net income by a substantial 155%. However, the company expressed concerns about the volatile trade environment and suggested potential price hikes for goods sold in the US. As reported by CNBC, Adidas stated, “Higher tariffs will inevitably lead to increased costs for all our products intended for the US market.” The company also acknowledged the unpredictability of the ongoing trade negotiations between the US and various exporting countries, stating, “Due to the uncertainty surrounding these negotiations, we are uncertain about the final tariff rates.

In countries such as Vietnam and Cambodia, where adidas produces its goods, face potential tariffs exceeding 40% if no new agreement is reached. Yet, the brand’s positive outlook, fueled by trendy styles such as the Gazelle, Samba, Stan Smith, and Superstar, offers a glimmer of hope.

G-Star Raw Appoints Botter Founders as New Creative Directors

The co-founders Rushemy Botter and Lisi Herrebrugh of the brand Botter have been chosen as the first creative directors for the Dutch denim company G-Star Raw since 2018, as stated in a report by Business of Fashion. This creative couple, who are also life partners, are renowned for their luxury label that carries Caribbean influences. For their debut collection to be showcased at Paris Fashion Week next January, they plan to find inspiration from G-Star’s popular 90s era.

Established in 1989 by Jos van Tilburg, G-Star Raw emerged as a cult-favorite brand, known for its edgy denim and streetwear styles, with the iconic Elwood pants, launched in 1996, being one of its most recognized pieces. Moreover, it was hinted that this renowned garment would serve as a primary source of inspiration for their debut collection set to release in 2026. Having grown up not far from the Dutch capital, the founders expressed their joy, stating, “G-Star has always been a source of pride for Holland. Being a part of it now makes us incredibly proud.

Nike Facing Class-Action Lawsuit From People Who Purchased RTFKT NFTs

In simple terms, a customer named Jagdeep Cheema from Australia has filed a lawsuit against Nike, claiming that they deceived buyers of their RTFKT non-fungible tokens (NFTs). The complaint, lodged in the Eastern District of New York last week, demands compensation exceeding $5 million USD for alleged violations of consumer protection laws in New York, California, Florida, and Oregon. The lawsuit alleges that Nike’s hasty shutdown of RTFKT caused a significant drop in the value of owners’ NFTs, leading to substantial losses. The plaintiffs argue that they would not have bought the digital assets if they were aware that they were unregistered securities.

In December 2021, Nike decided to invest in RTFKT, a digital sneaker and fashion collectibles platform. But by December 2024, Nike shared that they were closing down this platform, explaining that they were adjusting their focus and reevaluating their goals as they embark on the next phase of digital innovation.

Palace Teases New Osaka, Japan Flagship Store

A cryptic Instagram post from Palace this week features a skateboard adorned with a striking Palace Osaka graphic, which could possibly indicate that the London skate brand is considering opening a branch in Osaka, Japan. The caption of the post includes more subtle clues, with Japanese and “soon” emojis, fueling the speculation further. This rumor comes after they opened their first Seoul flagship store last year. However, it’s worth noting that if an Osaka store does open, it wouldn’t be Palace’s first venture into Japan; they had already established a Tokyo store nearly ten years ago in 2018. At the moment, Palace has not provided any official confirmation about the potential opening of the Osaka store.

Riccardo Tisci Accused of Sexual Assault

On Tuesday, a court case was initiated in the New York Supreme Court against Riccardo Tisci, accusing him of drugging and sexually assaulting a man on June 29, 2024. As reported by The Independent, Patrick Cooper’s 11-page statement details his recollection of the incident when Tisci allegedly attacked him following a night out in Manhattan. Cooper had become acquainted with Tisci through a mutual friend and spent the evening clubbing with his friend and the designer. The accuser asserts that Tisci, who previously held creative director positions at Burberry and Givenchy, surreptitiously added a drug to Cooper’s drink at a Harlem restaurant, rendering him powerless to resist or react.

According to Cooper’s account, he was forced into designer Riccardo Tisci’s SoHo apartment, where he claims Tisci physically harmed him against his consent. After the alleged instance of “predatory, sexual, and unlawful behavior,” Cooper stated that he awoke the next morning naked beside Tisci. However, a representative for Tisci firmly denied these accusations, stating that they are completely false and malicious. The source added that Tisci is eager to clear his name through the legal process.

Fendi To Show Coed Centennial Collection in September

For the Fall 2025 fashion event during Milan Fashion Week in February, Fendi has revealed they’ll stick to their innovative coed format, meaning there will also be a coed Spring 2026 show in September. As reported by WWD, Fendi, under the guidance of Silvia Venturini Fendi, will not participate in Milan Men’s Fashion Week this June. Instead, the upcoming September runway will focus on celebrating their centennial anniversary with a collection designed by Venturini Fendi, who oversees both menswear and accessories.

Currently, Fendi hasn’t appointed a successor to Kim Jones, who parted ways with the brand in October 2024 after serving as their womenswear and couture designer for four years. In September, during Milan Fashion Week, Fendi is set to host an event that will mark the centennial of their business and the inauguration of their new flagship store on Via Montenapoleone. The exact date and time for Fendi’s September show have yet to be announced.

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2025-05-02 23:56

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