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Photo: John Lamparski/Getty Images for NYFW: The Shows
Here are the latest updates making waves in the fashion industry this Wednesday.
Joseph Altuzarra Collaborates with Victoria’s Secret
Victoria’s Secret has revealed its plans to venture into ready-to-wear fashion, appointing renowned designer Joseph Altuzarra as its inaugural “atelier designer in residence.” Over the course of 2025, Altuzarra will curate a full wardrobe tailored for the Victoria’s Secret clientele, merging his signature blend of femininity and strength with the brand’s iconic glamour and fantasy. In a conversation with Vogue, he expressed that collaborating with such a prestigious brand is “like a dream come true.” {Vogue}
Saks Partners with Authentic Brands Group to Form Luxury Alliance
The successful launch of their Barneys New York pop-up store has led to an exciting new partnership between Saks Global and Authentic Brands Group. Together, they are establishing Authentic Luxury Group. This collaboration aims to leverage Saks’ luxury retail experience alongside Authentic Brands’ licensing prowess. The group will encompass notable names such asBarneys New York, Judith Leiber Couture, Hervé Léger , and Vince. Their goal is to enhance brand growth through strategic licensing deals and distribution channels. {Fashionista inbox}
A New Era at Gucci: Stefano Cantino Takes Charge as CEO
The luxury fashion house, Gucci, will welcome Stefano Cantino as its new CEO starting January 1st, succeeding Jean-François Palus. Previously associated with prestigious brands likePrada andLouis Vuitton , Cantino joined Gucci earlier this year as deputy CEO. Francesca Bellettini from Kering expressed her gratitude towards Palus for his commitment during this transitional phase while expressing confidence in Cantino’s ability to lead Gucci back to its rightful place at the forefront of luxury fashion. {< a hr ef = " https ://www.kering .com/en/news/stefano-cantino-appointed-ceo-of-gucci-succeeding-jean-francois-palus/">Kering }
PIF Acquires Significant Stake in Selfridges Department Store Chain
The Public Investment Fund (PIF) of Saudi Arabia is set to become a minority stakeholder in Selfridges, one of the UK’s most iconic department stores according to reports from< em >Business of Fashion. PIF will acquire a substantial 40% stake by purchasing shares from Signia Group which recently faced insolvency issues. Notably, PIF already owned an initial 10% stake after Signia divested part of its holdings previously; thus it will now consolidate ownership through this transaction. PIF joins forces with Central Group from Thailand which retains control over the remaining 60%. {< em >< a hr ef = " https ://www.businessoffashion .com/news/retail/saudi-wealth-fund-to-buy-40-share-in-selfridges/">Business Of Fashion /paywalled}
(Photographed by Brianna Capozzi)
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