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Coach: It’s morning in New York

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September 15, 2025

Few designers have their cultural antenna more in sync with the zeitgeist than Stuart Vevers, whose latest collection for Coach cleverly captured the fashion youthquake taking place in New York.

Coach – Spring-Summer2026 – Womenswear – Etats-Unis – New York – ©Launchmetrics/spotlight

His full-on silhouette of elephantine pants and the snuggest of jackets, waistcoats and jerkins completed by a sartorial twist amounted to a very cool take on today’s street fashion.
 
Business may be tricky for many brands, but kids in Lower Manhattan have never been more obsessed with looking and dressing with hip attitude. All one has to do is carouse the cafés in Dimes Square, or catch up with the gallants and groovers on Howard Street – a mini mecca of contemporary dandyism. A new generation whose style very deliberately challenges the status quo.

The key word here is ‘repurposed’, from elongated, patched up jeans; pants cut in mixed panels of faded denim or Coach monogram; or heavily eroded leather jackets.
 
It being Coach, pretty well every passage included a bag – from some great bucket-like totes with hefty straps, to moon shape clutches, to a series of credit card holders hanging from neck chains. The clothes looked lived – in but lovingly so. Plus, you could see that the models loved the picks and wanted to leave the venue in their looks. 

Coach – Spring-Summer2026 – Womenswear – Etats-Unis – New York – ©Launchmetrics/spotlight

The cast was perfect – courtesy of casting agent Ashley Brokaw – a marvellous array of youthful hope and pride. The very sort of cool insiders that every adolescent dreams they will turn into if they move to New York.  
 
“The whole idea came from a New York morning. I find them very special – light, bright, fresh and full of the optimism of moving forward,” explained British-born Vevers, in the backstage on Monday, the penultimate day of the six-day New York Fashion Week.
 
“I wanted heritage and nostalgia, but not in a heavy way,” smiled Stuart, who also riffed on other parts of his adopted country he had visited.
 
Showing sheath dresses photoshopped with a print of Monument Valley, grunge black T-shirts reading Seattle and tops that featured Sante Fe fairground. 
 
Staged in a giant warehouse on the East River, the set glorified New York. A series of massive sepia photos of classic doorways, neo-classical villas and cut stone buildings printed onto 40-foot-high canvas hangings.
 
Under Vevers, Coach has grown into a cult brand. So, even though the show took place in the most easterly point on the island of Manhattan and past a giant road building project hundreds of fans, a few PETA activists thronged around outside the show.

Coach – Spring-Summer2026 – Womenswear – Etats-Unis – New York – ©Launchmetrics/spotlight

The color scheme was muted, faded and worn creams, browns, beiges and indigo blues. The music an emotional mix of Elton John’s “Goodbye Yellow Brick Road” with lush orchestral strings.
 
In a busy moment for the brand, Coach announced this week that its chairman emeritus Lew Frankfort would be releasing his memoirs entitled, rather wickedly, “Bag Man”. Billed as “The Story Behind The Improbable Rise of Coach”, Frankfort will be happily signed copies on October 8 at a soirée in Hudson Yards. Another example of how Coach has seeped into the very history of New York, and America.
 
Vevers feted the collection and the latest issue of Perfect magazine with a party with the world’s coolest stylist Katie Grand. A packed party just off Union Square inside Café Zaffri, an uber happening Levantine restaurant with coffered ceilings and embroidered walls.
 
Not a bad place to celebrate his latest collection, quite possibly the best he has ever designed for Coach.
 

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TPG is said to consider stake sale or IPO for jeweler APM Monaco

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December 11, 2025

Private equity firm TPG Inc. is considering options for APM Monaco, including a possible stake sale or an initial public offering of the jeweler, according to people familiar with the matter.

APM Monaco

TPG is working with an adviser and may start a dual-track process early next year, the people said, asking not to be identified discussing private information. The US investment firm is aiming to fetch a valuation of at least $2 billion for the company in a deal, one of the people said.

Deliberations are preliminary and TPG might decide to keep the asset for longer, the people added.

A representative for TPG declined to comment.

A TPG-led consortium acquired a 30% stake in APM Monaco in 2019, and in 2021 documents were submitted for a Hong Kong IPO that never materialized. The following year, the group started sounding out potential interest in its stake, Bloomberg News reported, though TPG said at the time it didn’t plan to sell. 

European private equity firm Trail and China Synergy, an investment firm backed by TPG and China international Capital Corp., were also part of the investor group that bought the stake in APM Monaco six years ago.

TPG had $286 billion in assets under management as of the end of September. The US buyout firm invested in APM Monaco through its Asia-focused private equity platform. 

APM operates about 500 jewelry stores globally, according to its website.



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Caleres sales lift on Stuart Weitzman acquisition

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December 11, 2025

Caleres on Tuesday reported a 6.6% uptick in sales to $790.1 million for the third quarter, on the back double-digit growth in the American footwear firm’s brand portfolio.

Caleres

The St. Louis-based company said brand portfolio segment sales surged 18.8%, thanks to the recently acquired Stuart Weitzman brand.
Without the acquisition, which was announced in February, sales increased just 4.6% on last year.

Elsewhere, Famous Footwear sales decreased 2.2%, with comparable sales down 1.2% for the three months ending November 1.

During the quarter, net earnings fell to $2.4 million, or earnings per diluted share of $0.07, compared to net earnings of $41.4 million or earnings per diluted share of $1.19 in the prior-year period.

“Caleres delivered third quarter sales results that were ahead of our internal expectations, highlighted by organic sales growth in our brand portfolio segment, strong lead brands performance, sequential improvement in trends at Famous Footwear, and accelerated e-commerce momentum in both segments of our business,” said Jay Schmidt, president and chief executive officer at Caleres.

“With the recent addition of Stuart Weitzman, our brand portfolio now drives nearly half our sales and more than half our operating earnings. As we expected, we experienced pressure on our earnings from tariffs and near-term acquisition dilution, however, the fundamentals of our business are improving.”

Caleres acquired footwear brand Stuart Weitzman from luxury heavyweight Tapestry in February for just $105 million. The cash deal was completed this summer.

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Groupe Dynamite lifts 2025 outlook after Q3 revenue surge

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December 11, 2025

Groupe Dynamite on Tuesday posted strong third-quarter results, reporting double-digit sales growth and increasing its full-year guidance.

Groupe Dynamite lifts 2025 outlook after Q3 revenue surge. – Dynamite

Revenue for the quarter rose 40.3% to $363.0 million from $258.8 million a year earlier, driven by a 31.6% increase in comparable store sales and contributions from new locations. Online revenue grew 43.3% to $63.2 million.

The Canadian fashion retailer behind the Dynamite and Garage brands posted net earnings of $41.1 million, up 101.7% from a year earlier, with diluted earnings per share rising to $0.71 from $0.38.

Operating income surged 90.3% to $120.1 million, while adjusted EBITDA rose 67.5% to $146.1 million.

“Our teams once again demonstrated the strength of our values-led culture. What we delivered this quarter across product, stores, and digital reflects the intention, discipline, and agility that continue to set us apart. We’re well into our journey to elevate and premiumize both brands, and the customer response remains strong,” said Stacie Beaver, president and chief operating officer.

“Operationally, our real estate strategy continues to be a core pillar, with 17 gross openings year-to-date positioning us for sustained, high-quality traffic. On digital, we’re encouraged by the 40 basis points increase in e-commerce penetration in Q3 2025, as we enhance our platforms to support richer storytelling and more seamless experiences. With a solid foundation, real momentum, and teams who move fast and stay aligned, we enter Q4 confident in our ability to raise performance, strengthen brand experiences, and deepen our community connections.”

Looking ahead, the company increased its fiscal 2025 outlook and now expects comparable store sales growth of 25.5% to 27.5%, up from 17% to 19%. 

The company said its outlook remains subject to risks, including tariffs, real estate delays, weather disruptions, changes in consumer demand and IT or supply chain issues.

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