Top 5 Fashion Stories of 2024
Haider Ackermann Appointed Creative Director of Tom Ford
The constant shuffling of fashion creative directors at major houses has become a media game of trying to match design talent to brand and predict the next big announcement. But Tom Ford played it well by keeping everything under wraps until the house was ready to publicly announce that Haider Ackermann would be taking on the creative director role. Ackermann, known for his sharp, sexy tailoring and excellent eye for color, is definitely the right designer for updating the Tom Ford look. The industry is eagerly anticipating Ackermann's first collection for Tom Ford, which will debut at Paris Fashion Week in March 2025.
Mytheresa Purchases YNAP
The implosion of Matches early in 2024 was not a good start to the year for luxury, multi-vendor, online companies including Net-A-Porter, the loss-making retailer still struggling to turn its business around. But in October, it was announced that Mytheresa would buy YNAP (Yoox Net-A-Porter) from Swiss luxury goods holding company Richemont. I thought it was a smart business move, as Mytheresa CEO Michael Kliger has done an excellent job curating the retailer’s distinctive online offering while providing VIP clients with high-touch experiences to interact with the brand. With YNAP now in his portfolio, Kliger can push Net-A-Porter into more fashion forward territory with its selection of designers and collection edits, while limiting crossover – and competition – with Mytheresa.
Chanel Métiers d’art 2024/25 Show
Chanel had a rocky 2024, from parting ways with its creative director Virginie Viard in June to customers questioning the brand’s product quality. Yet their latest Métiers d’art show was a master class in how a well-defined set of house codes can provide a brand with the foundation to create an amazing experience - even without a big name creative director. Presented at nightfall on the West Lake in Hangzhou, China with the lake’s temples and pagodas serving as a backdrop, the collection drew its inspiration from Chanel’s Coromandel screens that adorn the walls of her Paris apartment. Pearl and braid accents, quilted silk pajama jackets, and Chinese floral embroideries accenting Coco’s classic tweed suits were all a nod to Chinese culture while also staying true to the signature codes of the House of Chanel. The collection’s youthful styling came courtesy of thigh-high black patent leather boots and opera-length gloves, two-tone waders and tote bags, small satin handheld evening bags, and a floral-printed body stocking. Could a visionary creative director designed more exciting product for the show? Absolutely. But considering the house is still - supposedly - searching for its next creative director, the studio stayed on brand and executed a competent collection, while delivering quite a spectacle.
Pat McGrath for Maison Margiela Artisanal Collection 2024
Leave it to the TikTok influencers to show everyone how to correctly apply concealer or use cushion foundation, because Pat McGrath’s beauty for Maison Margiela’s annual Artisanal show proved yet again why she is a Makeup Artist. While McGrath’s China-doll influenced beauty for the show had the feel of an AI filter and created a ‘porcelain skin’ frenzy this year, I think her gorgeous sense of color came through in her numerous variations on eye makeup from the faded out gunmetal greys and light brown neutrals (giving her a jump on Pantone’s 2025 Color of the Year, Mocha Mousse) to a dramatic smokey eye with a bright teal highlight on the inner corner. Hopefully going forward, more makeup artists will be willing to experiment with their beauty looks for runway shows beyond a statement lip.
The Fashion Industry’s Year of Reckoning
This year was fashion’s annus horribilis (to quote Queen Elizabeth). As mentioned above, the year kicked off with the Matches bankruptcy, which gave the industry and investors pause for thought regarding the viability of luxury online shopping. But the Matches’ collapse also took down several independent brands due to unreturned unsold inventory and unpaid invoices, highlighting the vulnerabilities indies face when engaging in wholesale.
Then there was the Italian luxury sweatshop scandal. The ongoing investigation put both Dior and Armani under the spotlight for making products for less than $100 and retailing them for thousands. The fallout had fashion customers questioning what exactly they are paying for when shelling out for product with a big fashion name. Adding fuel to the fire was online social media disruptors like @tanner.leatherstein, who has amassed a huge following dissecting high-end bags on camera and literally exposing both the material inconsistencies and less than high quality craftsmanship of luxury products.
All of which means fashion brands have a lot of work to do in 2025 to regain customer trust. Brands will need to get back to producing beautiful, well-designed product made from high quality materials and with excellent craftsmanship, while bringing pricing in line. And products will need to be produced in an ethical and environmentally responsible manner. Of course, better wholesale support or new wholesale models for independent lines should also be on the table. In short, next year brands will need to focus on restoring customers’ belief that fashion and luxury products are truly worth the investment.
Haider Ackermann photo courtesy of FashionStock.com. Mytheresa image courtesy of Dennis Diatel. Chanel Paris image courtesy of Elena Dijour. All Shutterstock.
