When your entire social feed turns into Spotify Wrapped screenshots, you know the year is winding down. Pantone has dropped its Color of the Year — this time it’s called Cloud Dancer, a shade of white that’s controversial for its simplicity — and fashion brands are slipping in their in-between artistic collections before the holidays hit full swing. I’m wrapping up a short break in Asia — today’s newsletter comes to you from Singapore — meeting old friends and making new acquaintances in a place where you can see the future of luxury play out in real time. The mix of ultra-global consumers, quiet wealth and relentlessly modern retail makes it impossible not to return with a different perspective: here, “store” no longer means store. Step into Gentle Monster and it feels like an art installation. You see cafés run by fashion brands. You see beauty brands offering full-service spas inside malls, and luxury houses running private appointment floors and lounges. Singapore shows what happens when retail becomes entertainment, hospitality and community all at once — and how quickly consumers adapt to that.

Caught my eye

The bag from the latest Chanel Metiers d'Art show

Trends — what’s bubbling underneath the headlines

• The clubification of luxury

  I like this new trend: luxury e-commerce becoming a membership business. Mytheresa’s new private club in Saint Moritz — a winter-long space for culture, trunk shows and hospitality. As customer acquisition costs increase and multibrand retail gets challenged, luxury companies are shifting toward curated, closed-door communities. Just recently, Kith Ivy. Just recently, Kith opened Kith Ivy, a members-only concept blending luxury, lifestyle, sport. Luxury retail is no longer just about selling product; it’s about selling access.

• Alo tests the ceiling

  Alo’s new $1,200 mini bags are the next step in the brand’s push into true luxury. Earlier this year, Alo launched leather bags priced up to $3,600, a move that felt mismatched for an athleisure brand but clearly set a high anchor. The mini bags feel more like “reachable luxury,” and maybe Alo is testing how far its wellness prestige can stretch into luxury categories.

• The record that isn’t what it seems

  U.S. online shopping on Black Friday 2025 set a new record, with sales reaching $11.8 billion — up 9.1 % from 2024, according to data from Adobe Analytics. The spike was in part because of a dramatic rise in web traffic driven by A. That said, the headline figure doesn’t tell the full story per Salesforce data, higher prices — driven by tariffs, inflation, and rising costs — meant shoppers bought fewer items overall. The demand was probably more moderate than sales numbers suggest: increased spending came from higher average order values and a rebound among wealthier consumers, rather than a broad-based lift in purchase volume.

• Tiny things, big shift
  Trend forecaster WGSN has unveiled its “Top Trends for 2026 and Beyond,” pointing to a shift in consumer and design mindsets. Key themes include “tiny things”, a “Gold Renaissance” (renewed interest in gold as a status metal), a preference for exclusivity, and a trend they call “logging off”— people seeking disconnection from constant digital noise.

Business moves, big numbers & “wait, what?”

• A Change of Hands. Prada’s €1.3 billion acquisition of Versace has officially closed. Rumours first began circulating in early January, and the deal was finalised in December — fittingly, on Gianni Versace’s birthday. The strategic rationale has been dissected for months, so the closing itself was almost a non-event. What did make headlines, however, was the abrupt exit of Dario Vitale as Versace’s Creative Director just one day after the deal’s completion. Vitale, who had only shown one collection, left “by mutual agreement,” according to the company. His sudden departure has triggered intense industry speculation, with reporting from Business of Fashion and The Guardian suggesting that Prada’s leadership had never fully backed his appointment — he was hired under Capri Holdings — and that they were unconvinced he was ready for a high-visibility creative role, especially after the mixed reception to his debut Spring/Summer 2026 collection.

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• Until 15.02.26 | London - Lee Miller photography exhibition

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