Haider Ackermann will unveil his debut co-ed collection for Tom Ford in Paris Fashion Week on Wednesday, March 5, marking the first time the American label will stage a show in the French Capital.
Fashion loves a debut, and the other huge one in Paris will be Sara Burton’s first collection for the house of Givenchy on the morning of Friday, March 7 – according to the provisional schedule of shows released Monday by the Federation de la Haute Couture et de la Mode (FHCM), French high fashion’s governing body.
In other news the house of Alaïa will be making its first official appearance on the Federation’s schedule. Its founder Azzedine Alaïa was famous for showing out of season. While its current creative director Pieter Mulier presented his most recent Alaïa collection in the Guggenheim Museum last September, one of the highlights of New York Fashion Week.
Several notable houses return to the season including Coperni, which showed off calendar in Disneyland last year; Kenzo, which had concentrated on co-ed shows in the menswear season since September 2020; and Ludovic de Saint Sernin and Off-White, who had recently shown in New York. Also returning after brief hiatuses are Marine Serre, Undercover and Véronique Leroy.
While several indie labels Nurc Akyol, Christopher Esber and Hodakova will also make their first appearance on the official calendar.
As ever, huge crowds of professionals and fans will swarm to witness the great brands in Paris, to whose shows invitations are strictly private. They include mammoth marques like Dior, Hermès, Louis Vuitton and Chanel, along with directional star houses – Yohji Yamamoto, Dries Van Noten, Courrèges, Chloé, Rick Owens, Victoria Beckham, Valentino, Miu Miu and Balenciaga, among others.
All told, there will be 72 shows, including the Master of Arts Joint show by the Institut Français de la Mode (IFM), France’s most noted fashion and luxury management college. Along with 31 presentations spread across the City of Light.
The next season, which features Fall/Winter 2025/2026 collections runs from Monday, March 3, to Tuesday, March 11, 2025. With access to the calendar always controlled by the FHCM, whose Executive President Pascal Morand offers his insights on the upcoming season to Fashion Network.
Fashion Network: Paris has attracted some very high-profile names to this season’s schedule, both new and returning brands – like Tom Ford, Alaïa, Off-White and Givenchy – why does the French season have such magnetic power?
Pascal Morand: Paris Fashion Week has a number of structural characteristics: the presence and involvement of the most renowned brands ; the exigency of the selection commissions; the rigorous work involved in drawing up the Official Calendar; a creative ecosystem of great vitality; an active policy in favor of emerging brands; the dual economic and cultural dimension of this major event; a close cooperation with public authorities; a policy of innovation built on an international history; the “Paris flavor”, which exudes the union of fashion and the arts. All these factors align in favor of Paris’ attractivity and are reflected in the policy led by the Federation’s Executive Committee.
FN: Last year was a tricky one for runway brands, with most suffering sales declines. What are you expecting in 2025?
PM: This situation follows a moment of high growth on international markets. A number of factors have come together, such as the crisis affecting digital pure players; difficulties in the wholesale market; low relative growth and the property crisis in China, which have notably led to a rise in the savings rate and now to a policy of boosting consumption. All this is in addition to the digital and ecological revolutions, which are accelerating. We are living through a period of rebalancing and changes, but the fundamentals of success remain the same: the vitality of creation, the quality of know-how, the culture of innovation.
FN: Recently, Culture Minister Rachida Dati announced several measures to open fresh spaces where young designers can show. What do you expect the impact to be?
PM: For young designers, presenting their collections is essential, and an integral part of their development model. The question of venues for shows and presentations is often a delicate one, because of the availability and cost involved. That is why we have a long-standing cooperation with the Palais de Tokyo, can be found a mutualized space and a presentation space adjacent to the Sphere showroom. But we need to take this further, and we are working in this direction. We’ve shared this challenge with the public authorities, and it’s with this in mind that the Minister of Culture ,has made her announcements which testify to the common concern regarding the support of emerging brands.
FN: The European Union, and France, have recently introduced new laws governing sustainability, recycling and end use of fashion products. What impact will they have on Paris Fashion Week?
PM: We actively follow French and European initiatives and are involved in the discussions associated. For example, the Federation is a voting member of the Apparel & Footwear PEF (Product Environmental Footprint) Technical Secretariat at the European Commission, with a view to European environmental labelling. The Federation is also represented, as well as the Camera Nazionale della Moda Italiana, through the European Fashion Alliance within the Ecodesign Forum which brings together a limited number of organizations from all sectors of the economy.
There, the Delegated Acts of the ESPR (Ecodesign for Sustainable Products Regulation) will be drawn up, dealing in particular with the recycling and treatment of unsold goods. However, French and European regulations concern the industrial value chain, and not the event value chain, which is where Paris Fashion Week comes in. In this respect, the Federation has set up as of 2019, STEP.event, an eco-design tool for fashion shows and presentations, in partnership with PwC and with the support of DEFI, which is now widely used by the Houses.
U.S. President Donald Trump‘s initial tariff actions against Canada, Mexico and China sparked a rise in broad market volatility and a rush to take guard against increased ructions across asset classes from stocks to currencies.
The U.S. President’s weekend orders for additional levies of 25% on imports from Mexico and most goods from Canada, as well as 10% on goods from China, jolted markets surprised by the speed and intensity of these moves so soon after his inauguration.
Analysts estimate the tariffs could raise the risk of a sharp slowdown in global growth, resurgent inflation and a pause to Federal Reserve rate cuts, prompting a bout of risk aversion from investors.
The Cboe Volatility Index – an options-based gauge of investor expectation for near-term stock market moves – jumped to a 1-week high of 20.41, before paring gains to trade up 2 points at 18.43. While that is still below the index’s long-term average of 19.4, it is well above its average reading over the past year of 15.8.
Currency markets were also roiled with an across the board rise in implied volatility – a measure of how much the market expects prices to fluctuate in the future. Volatility expectations for currencies directly in Trump’s crosshairs saw the biggest surge, but other major pairs including the euro-dollar saw a rise in expectation for future moves.
One-month implied volatility for the dollar/Mexican peso pair jumped to 15.6, the highest since mid November, and about 3 points higher than its 5-year average. Meanwhile, implied volatility for the dollar/Canadian dollar pair soared as high as 9.3, its highest since November 2022.
While volatility expectations for various assets had ticked up in the days before the tariffs announcement and various currencies had weakened against the dollar on expectations for tariff-related headlines, the intensity of the market reaction to the weekend headlines shows investors were not quite prepared for it, analysts said.
“Generally speaking, investors were not taking Trump seriously or literally … the announcement on Saturday as well as comments after that have compelled investors to reassess the risk,” Karl Schamotta, chief market strategist with payments company Corpay in Toronto, said.
Adding to the uncertainty is the possibility that some sort of deal is arrived at between the U.S. and other countries that allows for tariffs to be averted in a lasting way.
The Mexican peso, which had plunged to a near three-year low against the dollar on news of the impending tariffs, reversed course to trade up 0.5% on the day after Trump said he would pause new tariffs on Mexico for one month.
“The headlines come at you very fast,” Mandy Xu head of derivatives market intelligence at Cboe Global Markets, said. “I think this unpredictability is partly what is driving this huge surge in option volume that we’re seeing so far,” she said.
U.S. footwear Timberland announced on Monday the appointment of Drew Villani to the role of global creative director, marketing.
In this role, Villani is responsible for bringing the VF Corp.-owned Timberland’s creative vision to life across all aspects of brand marketing, including art direction, photography, store design, styling, and video production, according to a press release.
A veteran fashion creative, Villani joins Timberland from fellow American brand Calvin Klein, where he served as senior director, global creative. Before Calvin Klein, the executive worked as a contractor creative director, after working as artistic director at 3.1 Phillip Lim.
In its most recent trading update last month, parent company VF Corp., which also owns Vans, North Face and Dickies, reported sales that beat expectations, a sign that its transformation plan is showing results.
Revenue climbed 2% to $2.8 billion during the company’s fiscal third quarter ended December 28, the company said in a presentation.
Liberated Brands, which until recently operated skateboard and surfing-inspired retail brands including Quiksilver, Billabong and Volcom, has filed bankruptcy as more customers choose “fast fashion” competitors.
Liberated sought court protection in Delaware Sunday, saying it intends to close its stores as part of a wind-down of its North American operations. The company, which had operated the brands under a deal with brand licenser Authentic Brands Group LLC, said it will also seek to sell its international businesses and has closed its corporate offices and laid off nearly 1,400 employees.
The bankruptcy filing caps a rapid rise and sudden fall of a business that was founded in 2019 after Volcom’s management team sold that brand to Authentic, which has acquired several several retail brands through Chapter 11. Liberated listed more than $100 million in liabilities on its Chapter 11 petition and has lined up a $35 million loan to fund the bankruptcy.
Liberated’s revenue increased from $350 million in 2021 to $422 million in 2022, a jump the company attributed to a sharp increase in demand during the Covid-19 pandemic and acquisition of more brand licenses. About half of the company’s income came through retail sales on brand websites and physical stores and selling apparel wholesale to other retailers, according to court documents.
The business expanded in 2023 when Liberated started running several more Authentic-acquired apparel brands, including Billabong, Quiksilver, Roxy, and RVCA. But Liberated CEO Todd Hymel said in a court filing that the company’s fortunes changed as the effects of the pandemic abated and interest rates began to rise, resulting in lower demand for its offerings.
Company management believed the trend would diminish last year but in the past 18 months “the average consumer has shifted their spending away from discretionary products such as those offered by Liberated,” Hymel said. The business was also hurt by a shift to large “fast-fashion” retailers that can sell garments at lower prices and capitalize on so-called micro-trends as opposed to the traditional seasonal retail model, he said.
“Consumers can cheaply, quickly, and easily order low-quality clothing garments from fast fashion powerhouses and have such goods delivered within days,” he said.
Authentic in December terminated Liberated’s North America license for the wholesale businesses of Volcom, RVCA and Billabong after the company failed to make a royalty payment, according to court documents. The license rights to those brands were subsequently transitioned to new operators, Hymel said.
The case is Liberated Brands LLC, number 25-10168, in the US Bankruptcy Court for the District of Delaware.