I hope this note finds you well into the Christmas break. With Pinterest releasing its predictions and the Australian firefighters’ calendar making the rounds again, it feels safe to say: the year is officially over. Oh, that feeling of the laptop finally closing for the year. It’s always funny how January suddenly feels so far away from this point — and how much easier it becomes to get commitments, appointments, and “let’s catch up later” responses than at any other time.

Wishing you a wonderful festive season, and thank you — truly — for reading, sharing, and thinking along with me this year. See you on the other side. ✨

Caught my eye

Before AI and virtual worlds, Thierry Mugler organised a photoshoot in Greenland’s Arctic in 1987.

Trends — what’s bubbling underneath the headlines

• 2025 is playful, democratic, and oddly charming

  Lyst’s Year in Fashion has become a definitive marker of what actually moved culture. In short: the bag — ChloéPaddington; the brand — Miu Miu; the aesthetic — Britpop; the designer — Demna; the style icon — Pedro Pascal; the couple — Harry Styles × Zoë Kravitz; the controversy — American Eagle; the craze — Labubu charms; the trend — flip-flops.

• Entertainment first

  If you haven’t watched the new season of Emily in Paris and want to avoid spoilers, feel free to skip this paragraph.

  Intimissimi had one of the more interesting product placements. Instead of just appearing briefly on screen, the brand became part of the storyline: Emily and her agency work with Intimissimi as a client, and characters are shown wearing the brand naturally throughout several scenes. It doesn’t feel like advertising — it feels like part of the world viewers are already invested in.

• The era of charming everything

  Bag charms are so 2025, now it’s time for charms for everything else. Accessories designer Susan Alexandra created charms for… vacuum cleaners, with 100% of proceeds donated to the Bissell Pet Foundation. It’s a small, clever idea that sits right at the intersection of fashion’s current charm obsession and purpose-led branding.

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

• Kering cashes in on Fifth Avenue — without fully letting go. Kering has finalised a roughly $900 million joint venture with private markets firm Ardian around its flagship property at Fifth Avenue. Kering bought the building in early 2024 for about $963 million, and is now selling a majority stake to Ardian while retaining a minority position. The logic is financial: unlock capital while keeping a strategic address. By leasing back the space and using the proceeds to reduce its financial burden, Kering shows that today’s luxury playbook isn’t just about creativity in product — but creativity in finance, too.

• Creative director rumours at Versace. WWD reports that Pieter Mulier, currently at Maison Azzedine Alaïa, is among the designers being considered for the role. While Alaïa’s financials aren’t public, under Mulier the house returned to the Paris Fashion Week calendar, re-established a clear creative direction, and regained visibility among buyers, critics, and clients — helping explain why his name is now in circulation.

• Etro completes its shift away from family ownership. Etro has brought in new minority investors as the founding family exits entirely. L Catterton has been the majority owner since 2021, when it acquired 60% of the brand, leaving Etro a relatively small, heritage-led house with revenues in the mid-€200 million range. New minority shareholders now include Rams Global and entrepreneur Mathias Facchini. Examples like Valentino show institutional ownership can work — execution is what decides it.

Wish I were there - pop-ups,  collabs, etc.

Pencil in, book the ticket, or just follow on social media — choose your option and let’s discuss afterwards!

• Until 18.10.26 | Paris - Fashion exhibition at Palais Galleria

• Ongoing | Paris - The Ritz Teddy B(e)ar Pop-Up

Next steps

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