EXTRAVAGANT
EXTRAVAGANT
KERING BREATHES AGAIN ON THE STOCK MARKET, BUT GUCCI STILL WALKS ON FRAGILE GROUND
A rebound in the stock market has given Kering some breathing room, but behind the financial optimism lies an uncomfortable truth: Gucci’s recovery is only just beginning and remains fragile.
Kering shares rose as much as 13% after the group reported fourth-quarter results that beat expectations, even as Chief Executive Luca de Meo warned that the recovery is still “early and fragile.”
It marked the first quarter under the leadership of the former Renault chief, who has pledged growth and wider margins by 2026.
The Gucci owner posted sales of 3.9 billion euros between October and December, a 3% year-on-year decline, smaller than the 5% drop forecast by the market. Gucci, which generates the bulk of the group’s profits, recorded its tenth consecutive quarterly decline, down 10%, though it showed signs of improvement toward the end of the year across several regions.
De Meo acknowledged past missteps, including aggressive store expansion and price hikes, and said the recovery will hinge on a new creative direction led by Demna, whose first show will take place in Milan later this month.
EXTRAVAGANT
RALPH LAUREN RECALIBRATES THE LUXURY LANDSCAPE AMID U.S. TARIFF PRESSURE
Amid one of the largest retail collapses since the pandemic, Saks Global is deepening its restructuring and reshaping its physical footprint to prioritize profitability and full-price sales.
Saks Global announced Tuesday it will close nine more stores as part of its Chapter 11 restructuring, in a bid to focus on more profitable locations. The luxury department store group will shutter eight Saks Fifth Avenue stores and one Neiman Marcus location, as well as most of its standalone Fifth Avenue Club styling suites.
The company also said it plans to move its home décor brand Horchow to the Neiman Marcus website starting February 19, reinforcing its digital strategy.
Saks will seek formal approval for the closures from a U.S. bankruptcy judge at a hearing scheduled for Friday, according to a court filing submitted Tuesday.
The group filed for bankruptcy last month in one of the largest retail failures since the COVID-19 pandemic, just a year after combining Saks Fifth Avenue, Bergdorf Goodman and Neiman Marcus under a single corporate structure.
EXTRAVAGANT
MAISON MARGIELA OPENS ITS CREATIVE ARCHIVE TO THE PUBLIC ON DROPBOX AHEAD OF ITS 2026 SHOW
French fashion house Maison Margiela has opened its internal archive to the public for the first time through a Dropbox titled MaisonMargiela/folders, in a move that redefines transparency within the luxury industry. The folder includes images, timelines, working documents and final materials, unedited and without a fixed narrative, offering direct access to the house’s creative process.
The project will continue with its Fall-Winter 2026 show, scheduled for April 1 in Shanghai instead of Paris. Throughout the month, the Maison will stage free exhibitions across different cities in China to explore its four codes: Artisanal in Shanghai, Anonymity in Beijing, Tabi in Chengdu and Bianchetto in Shenzhen.
As the physical presentations unfold, the brand will continue uploading files to Dropbox, documenting the process from concept to runway. In an industry known for controlling its narrative, Margiela chooses to open it. The archive is now publicly accessible.
EXTRAVAGANT
HERMÈS DEFIES THE LUXURY SLOWDOWN: THE BIRKIN DRIVES
RECORD SALES
Hermès once again sets the pace for global luxury, beating expectations on the back of the unstoppable strength of its iconic handbags.
Hermès reported revenue growth of 9.8% in the fourth quarter at constant exchange rates, surpassing market forecasts that had projected an increase of around 8.4%. The performance was driven by strong demand for its iconic Birkin and Kelly bags, as well as robust sales in the United States and Japan.
The Americas region grew 12.1%, while Asia excluding Japan advanced 8%, with positive signals emerging from China despite the economic slowdown linked to the property crisis. “The group enters 2026 with confidence,” said CEO Axel Dumas, who announced price increases of between 5% and 6% this year.
With an annual operating margin of 41% and gains across nearly all divisions except perfume and beauty Hermès continues to outperform the sector slowdown, supported by a model built on exclusivity and controlled scarcity.
EXTRAVAGANT
CONVERSE RESTRUCTURES: NIKE’S STRATEGIC SHIFT TO REGAIN GROWTH
Converse, owned by Nike, will realign its operations and reduce its corporate workforce as part of a strategic adjustment to align more closely with its parent company’s operating model, according to a source familiar with the matter. The move involves eliminating certain roles and modifying the scope and reporting structure of many others. “Nearly everyone in corporate roles at Converse will experience some level of change,” the source said, speaking on condition of anonymity.
Earlier this week, employees were instructed to work from home as the company implements new roles and internal team shifts in an effort to restore sales growth. In January, Nike laid off 775 distribution employees to boost automation and profitability, following previous job cuts.
Under the leadership of Elliott Hill, the company is seeking to regain market share. Converse will also form crossfunctional teams focused on sportswear, basketball, energy and apparel categories.
EXTRAVAGANT
TIFFANY & CO. LAUNCHES THE ENAMEL WATCH: THE HIGH JEWELRY TIMEPIECE INSPIRED BY JEAN SCHLUMBERGER THAT REDEFINES ITS HISTORIC ARCHIVE
Tiffany & Co. unveiled the new Enamel Watch, a limited edition that reinterprets the iconic Croisillon bracelets created in 1962 by Jean Schlumberger, reaffirming that the house’s historic archive continues to shape its creative direction 189 years after its founding.
Earlier this week, employees were instructed to work from home as the company implements new roles and internal team shifts in an effort to restore sales growth. In January, Nike laid off 775 distribution employees to boost automation and profitability, following previous job cuts.
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EXTRAVAGANT
BLAKE LIVELY LEAVES COURT AFTER FAILED NEGOTIATIONS WITH JUSTIN BALDONI:
MULTIMILLION-DOLLAR TRIAL LOOMS IN MAY
In a day marked by strain, Blake Lively unexpectedly left the U.S. District Court for the Southern District of Manhattan after six hours of unsuccessful negotiations with Justin Baldoni. The February 11, 2026 session, overseen by Judge Sarah L. Cave, aimed to prevent a trial scheduled for May 18 stemming from their legal dispute related to the filming of It Ends With Us.
Lively, 38, appeared visibly serious as she departed with her attorney, while Baldoni, 42, looked relaxed and smiling as he left with his wife. The actress is seeking $200 million over alleged sexual harassment and retaliation; Baldoni denies the claims and has countersued for $400 million in defamation.
After 14 months of litigation, both parties are set to return to court for a final attempt at settlement before facing what is expected to be a highly publicized trial.
EXTRAVAGANT
ADAM MOSSERI IN COURT: INSTAGRAM, META AND THE GLOBAL DEBATE OVER YOUTH ADDICTION
AND MENTAL HEALTH
A case that puts digital design under scrutiny and reopens the debate over limits, responsibility and the impact of social media on younger generations.
Instagram chief Adam Mosseri is facing questions in a Los Angeles courtroom over whether the design of the Meta-owned app has contributed to a youth mental health crisis. The legal proceedings are part of a lawsuit accusing the platform of fostering “social media addiction” among minors.
The case centers on a 20-year-old woman who says she became addicted to Instagram at an early age due to features such as “infinite scroll,” which allows content to load continuously. According to court documents, the plaintiff argues that the tool kept her on the app and worsened her anxiety. The American Academy of Pediatrics has warned that such design may make it harder for children to disengage from digital devices.
Meta has rejected the allegations, saying evidence will demonstrate its longstanding commitment to supporting young people. The outcome could influence hundreds of similar lawsuits in the United States and the broader global debate over minors’ access to social media.
EXTRAVAGANT
LOVE STORY: THE TRAGIC ROMANCE OF JFK JR. AND CAROLYN BESSETTE ARRIVES ON DISNEY+
Love Story: John F. Kennedy Jr. & Carolyn Bessette brings back one of the most iconic and heartbreaking stories of the decade. The new FX production, the first installment of Ryan Murphy’s anthology, explores the intense relationship between John F. Kennedy Jr., heir to America’s most famous political dynasty, and Carolyn Bessette, a Calvin Klein executive who became a definitive style icon.
Based on Elizabeth Beller’s book Once Upon a Time: The Captivating Life of Carolyn Bessette-Kennedy, the series follows their whirlwind romance and marriage, as well as the relentless media scrutiny that turned their private love into a national obsession.
Sarah Pidgeon stars as Carolyn, with Paul Anthony Kelly as John, joined by Naomi Watts as Jackie Kennedy Onassis and Alessandro Nivola as Calvin Klein.
The biographical drama premieres on Disney+ on February 13 with three episodes, followed by weekly releases every Friday, completing a nineepisode season.
