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Trainers and winter boots: How collaborations are redefining the seasonal wardrobe

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December 24, 2025

This season, winter footwear collaborations are emerging as bridges between performance and style. We spotlight three major alliances that revisit existing models while tailoring their silhouettes to urban and winter use.

Carhartt WIP x Salomon: The X-ALP reimagined between the outdoors and urban culture

X-ALP Salomon x Carhartt – DR

Carhartt WIP and Salomon return with a second collaboration, continuing the dialogue begun with their first joint project. At its core are shared values of functionality, durability and performance, applied to an iconic technical silhouette: the X-ALP.

Founded in 1994 by Edwin Faeh, Carhartt Work In Progress is the contemporary European offshoot of the American brand Carhartt, a workwear pioneer established in 1889. Carhartt WIP has reframed workwear codes, embedding them firmly in urban cultures—from hip-hop and skateboarding to the techno scenes of Detroit and Berlin, as well as contemporary art. Today, the brand counts over 100 boutiques worldwide and regularly collaborates with leading names in fashion and streetwear.

For its part, Salomon, founded in 1947 in the French Alps, is a benchmark in outdoor equipment and technical lifestyle. Based in Annecy, the brand develops footwear, apparel and equipment for mountain sports, drawing on the combined expertise of designers, engineers and athletes.

For this collaboration, Carhartt WIP revisits the X-ALP, a model designed to tackle demanding environments. The trainer features rugged grained leather, suede inserts and Carhartt WIP’s signature camouflage. Designed for versatile use, the X-ALP Carhartt WIP embodies the convergence of outdoor technology and urban aesthetics.

The X-ALP Carhartt WIP has been available since 18 December on the brands’ websites, in their boutiques and through selected retail partners. It retails for €160.

Vaquera x Nike: the Air Max Dn8 between romanticism and subversion

Air Max Dn8 Vaquera x Nike
Air Max Dn8 Vaquera x Nike – DR

Nike has teamed up with Vaquera for an unexpected collaboration centred on the Air Max Dn8, the Swoosh’s latest innovation featuring Dynamic Air technology, launched on December 8. It is a meeting of Nike’s technological prowess and the deliberately irreverent world of the New York label.

Founded in 2013 by Bryn Taubensee and Patric DiCaprio, Vaquera has established itself as a cult label on the independent fashion scene. Moving from blog-era experimentation to the runways of Paris Fashion Week, the brand made its name with pieces that went viral, notably its aviator-style strappy dresses.

For its part, Nike, founded in 1964, continues to push the boundaries of footwear innovation. With the Air Max Dn8, the brand ushers in a new chapter in the evolution of its Dynamic Air technology while embracing a resolutely contemporary aesthetic.

For this collaboration, Vaquera reinterprets the Dn8 silhouette and infuses it with its signature codes.

“Romanticism is a fundamental element of the Vaquera brand,” explained DiCaprio. The trainer is covered in kiss marks, a playful yet romantic motif that subverts performance-footwear standards without compromising functionality. The result illustrates what the founders describe as “fashion fan fiction,” where sincerity and irony deliberately coexist.

The Nike x Vaquera Air Max Dn8 is already available via the brands’ websites, at Dover Street Market and from selected retailers, priced at €200.

Inuikii x Rouje: alpine après-ski reinvented for the city

Classic Low Inuikii x Rouje
Classic Low Inuikii x Rouje – DR

Inuikii and Rouje join forces this season to launch a limited-edition take on the legendary Classic Low winter boot, reworked as a warm, urban and unexpected silhouette. At the intersection of sportswear and Parisian elegance, this collaboration explores a new terrain where alpine roots meet city life.

Founded in 2013 in Zurich by Cinzia Maag and her sons Danilo and Alessio, Inuikii has established itself as a benchmark for premium winter footwear. Crafted predominantly by hand in Europe, the Swiss brand’s creations prioritise natural, sustainable materials, with the ambition of redefining après-ski through modern, protective and functional forms, without ever denying its alpine DNA.

For its part, Rouje, created in 2016 by Jeanne Damas, embodies an instinctive, timeless femininity, nourished by vintage references, a cinematic imagination and the nonchalant elegance of everyday Parisian life. The brand quickly established itself as a symbol of a certain French art de vivre, blending sensuality, simplicity and character.

For this collaboration, the two houses revisit Inuikii’s iconic Classic Low to adapt it to urban winter life. The silhouette stands out for its refreshed lines, a dual lacing system and a subtle interplay of materials and colours: chocolate nubuck, Rouje’s signature burgundy accents and discreetly branded details.

The Inuikii x Rouje Classic Low will be available from January 21, as a limited edition, through both brands’ distribution channels.

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Middle West Partners acquires Paul Stuart

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December 24, 2025

Luxury menswear brand Paul Stuart has been acquired by private investment group, Middle West Partners (MWP).

Paul Stuart

MWP partnered with apparel manufacturer, Peerless Clothing Inc. to acquire the New York City-based fashion brand from Mitsui & Co., which has been with the brand for more than 50 years.

Financial terms of the deal were not disclosed.

As part of the deal, John Hutchison, former chief executive officer of Bonobos, has been appointed the new CEO of Paul Stuart, according to a press release.

“The Paul Stuart name continues to resonate with a discerning client 87 years later, and we still see so much more potential for this luxury heritage brand,” said Kevin Kelleher, managing partner of MWP.

“Our goal is to protect its unmatched quality and amplify its unique attributes on a global scale.”

Earlier this year, MWP acquired high jewelry house, David Webb, as the private equity firm looks to expand its portfolio of brands.

“Paul Stuart has been one of my family’s favorite brands for more than 25 years. It has a look that’s distinctly its own—when you walk down the street, you know it’s Paul Stuart,” said co-founding partner at MWP, Michael Hamp.

“My father and now my brothers and I have worn Paul Stuart for as long as I can remember. It is both a privilege and honor to take on the responsibility of stewarding this brand.”

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Gold tops $4,500, silver and platinum hit records in metal markets frenzy

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December 24, 2025

Gold surged past the $4,500-an-ounce mark for the first time on Wednesday, while silver and platinum also scaled record highs, as investors piled into precious metals on safe-haven demand and expectations that U.S. interest rates will fall further next year.

Reuters

Spot gold rose 0.1% to $4,492.51 per ounce by 0359 GMT, after touching a record high of $4,525.19 earlier in the session. U.S. gold futures for February delivery climbed 0.3% to a record high of $4,520.60.
Silver gained 1.2% to $72.27 ⁠an ounce, after hitting an all-time peak of $72.70 earlier, while platinum jumped 3.3% to $2,351.05 after rising to a historic high of $2,377.50.

Palladium climbed almost 2% to $1,897.11, ⁠its highest level in three years.

“Precious metals have become more of a speculative narrative around the idea that, with de-globalization, you need an asset that can act as a neutral go-between, without sovereign risk particularly as tensions between the U.S. and ‍China persist,” ‌said Ilya Spivak, head of global macro at Tastylive.

Thin year-end liquidity exaggerated recent price moves ⁠but the broader theme was likely ‌to endure, with gold targeting $5,000 over the next six to twelve months and silver ‌potentially pushing toward $80 as markets respond to key psychological levels, Spivak added.

Gold has surged more than 70% this year, its biggest annual gain since 1979, driven by safe-haven demand, expectations of U.S. rate cuts, robust central-bank buying, de-dollarisation trends and ETF inflows, with traders pricing in two ‍rate cuts next year.

Silver has jumped more than 150% over the same period, outpacing gold on strong investment demand, its inclusion on the U.S. critical minerals list and momentum buying.

Gold and silver ‌have “been hitting the accelerator ⁠pedal ​this week” with fresh record highs, reflecting their appeal as stores of ⁠value amid ​expectations of lower U.S. rates and lingering global debt, said Tim Waterer, chief market analyst at KCM Trade.

Platinum and palladium, primarily used in automotive catalytic converters to reduce emissions, have surged this ​year on tight mine supply, tariff uncertainty, and a rotation from gold investment demand, with platinum up about 160% and palladium gaining more than 100% ⁠year to date.

“What we’re seeing in platinum and palladium ⁠is largely catch-up,” Spivak said adding that the thin nature of those markets leave them vulnerable to sharp swings, even as they broadly track gold, once liquidity returns.

© Thomson Reuters 2025 All rights reserved.



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Retail investors to have more sway over Wall Street after record year

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December 24, 2025

Retail inflows into U.S. stocks are set to hit a record in 2025, as individual investors become a major force behind a rally that is likely to extend into the next year on hopes of interest rate cuts, analysts said.

Reuters

The amount of cash retail investors poured into U.S. stocks so far in 2025 is up 53% from $197 billion a year earlier and 14% higher than the $270 billion hit at the height of the retail trading frenzy in 2021, according to J.P.Morgan analysts.

Retail trading, meanwhile, accounted for 20–25% of total activity this year, touching a record high of about 35% in April, according to separate trading data from J.P.Morgan.

Individual investors snapped up high-quality stocks at discounts during selloffs, most notably after U.S. President Donald Trump‘s “Liberation Day” tariffs triggered a global meltdown in April, helping push the S&P 500 to fresh records. The benchmark index is up about 16% this year.

“Retail investors are here to stay, especially for 2026. They made money this year, they like to trade stocks, they have the applications to do so. We will continue to see them being a good presence,” said Steven DeSanctis, small- and mid-cap strategist at Jefferies.

Retail participation in the stock market has grown steadily over the years as the rise of low-cost, no-commission brokerages such as Robinhood and Interactive Brokers has made it easier and cheaper for average Americans to access the market.

The trend got wider notice in 2021 as many Americans who were homebound during the Covid-19 pandemic and were flush with cash used mobile trading platforms to bet on everything from GameStop to Big Tech.

AI plays such as Nvidia and Palantir Technologies were top favorites this year, according to retail brokerage data and executives, with the latter more than doubling in value as small-time traders bought the dip when institutional investors stepped back on valuation concerns, opens new tab.

Tesla shares, another top retail favorite, touched a record high on December 17, their first since the end of 2024.
 

© Thomson Reuters 2025 All rights reserved.



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