Balenciaga Leaves Twitter and Estée Lauder Acquires Tom Ford in This Week's Top Fashion News
This week, many fashion brands looked to the future. Among them, Balenciaga officially left Twitter, reshaping its online presence following Elon Musk‘s acquisition of the tech giant. Estée Lauder acquired Tom Ford in a deal valued at $2.8 billion USD, marking the cosmetics conglomerate’s largest-ever acquisition; and Louis Vuitton revealed plans to turn its Paris headquarters into its first-ever luxury hotel. In the present, however, the Brooklyn Museum opened its Thierry Mugler: Couturissime exhibition, Central Cee starred in Jacquemus‘ Winter 2022 campaign and the highly-anticipated Stüssy x Dries Van Noten collab finally arrived.
Below, Hypebeast has rounded up the top fashion stories of the week so you can stay up to date on trends in the industry.
Balenciaga Left Twitter
Balenciaga officially left Twitter following Elon Musk‘s acquisition. The Demna-led label’s decision to drop the platform comes after several major companies, including General Motors and Dyson, have suspended their advertising campaigns on Twitter.
Business of Fashion reports that in recent years, fashion brands have relied increasingly less on Twitter for generating digital buzz surrounding new drops and collections. Balenciaga, however, is no stranger to stirring up heated discussions on the platform; most recently, the Kering-owned label has sparked conversations for its $1,790 USD leather trash bags and $950 USD Crocs.
As of now, it remains uncertain whether other high-fashion labels will drop the social media platform, too.
Estée Lauder Acquired Tom Ford for $2.8 Billion USD
Victor Virgile/Gamma-Rapho/Getty Images
Estée Lauder officially acquired Tom Ford in a deal valued at roughly $2.8 billion USD, marking the cosmetics conglomerate’s largest-ever acquisition.
The acquisition of Tom Ford Brands by Estée Lauder is expected to close in the first half of 2023, depending on the speed of regulatory approvals. Thanks to the sale, Ford has earned the billionaire title, according to Forbes, which estimated that the designer will take $1.1 billion USD in cash from the sale, after taxes. Once the deal is finalized, he will remain as the brand’s “creative visionary” through 2023.
Business of Fashion reported that Tom Ford had been shopping for a possible sale since this summer. Back in August, Estée Lauder was reported to be in talks about buying the brand in a deal that valued the label at $3 billion USD. Notably, Estée Lauder beat out other big luxury parent companies, including Kering, in the sale.
Louis Vuitton Revealed Plans To Turn Its Paris Headquarters Into Its First Luxury Hotel
Edward Berthelot/Getty Images
Louis Vuitton (PARIS:MC.PA +0.20%) Chairman and CEO Michael Burke has revealed plans to turn the French fashion house’s Paris headquarters into a massive complex that will include the first-ever Louis Vuttion hotel and the brand’s largest global storefront, according to a new interview with WWD.
The colossal transformation began this week, with the launch of a new experiential installation titled “LV Dream.” There, a 20,000-square-foot pop-up houses an exhibition spotlighting the Maison’s top-shelf artist collaborations, a cafe and chocolate shop from Cheval Blanc Paris’ head pastry chef and a gift shop. The temporary space, which is set to remain open for a year, will “most probably” be turned into Louis Vuitton’s largest store, according to Burke. The hotel is expected to occupy another sector of the 400,000-square-foot building within the next five years.
The Brooklyn Museum Opened Its Thierry Mugler: Couturissime Exhibition
The Brooklyn Museum
First shown at the Montreal Museum of Fine Arts, then in Germany, the Netherlands and France, the traveling Thierry Mugler: Couturissime exhibition has officially landed at its final destination: New York City’s Brooklyn Museum. There, exhibition curator Thierry-Maxime Loriot and the museum’s senior curator of fashion Matthew Yokobosky have adapted the limitless, historical showcase for New York’s fashion crowd, now on view from November 18, 2022, to May 7, 2023.
Spanning haute couture designs and unpublished archives, the exhibition houses more than 100 looks (most of which are on view for the first time) along with accessories, videos, photographs, sketches and fragrances that define Manfred Thierry Mugler‘s unequivocal stamp on fashion. In the Brooklyn Museum’s Morris A. and Meyer Schapiro Wing and Iris and B. Gerald Cantor Gallery, the exhibition champions Mugler’s industry-altering portfolio by theme, separating the designer’s interests into rooms dedicated to fantasy, glamour, science fiction, eroticism and the natural world.
“The constant innovations, inventions, and avant-garde architectural silhouettes in the work of Mugler have marked an era,” said Loriot. “His singular style found a place in the history of fashion that still has a powerful influence on today’s generation of couturiers, not only because of its designs but also because of the strong message of inclusivity, diversity, and empowerment in his body of work.”
Tickets for The Brooklyn Museum’s Thierry Mugler: Couturissime exhibition can be reserved on the museum’s website.
The Stüssy x Dries Van Noten Collaboration Arrived
Stüssy X Dries Van Noten
Following teasers from A$AP NAST and a campaign starring Red Hot Chilli Peppers’ Flea, Stüssy and Dries Van Noten‘s hotly-anticipated collaboration has officially hit shelves.
Across the collection, the partnership breeds a slew of designs denoted by Stüssy’s So-Cal style and Dries’ versatile codes. Among them, there are dual-branded tie-dye T-shirts, sweatpants and sweatshirts, along with collared shirts, baggy printed jeans, and a rhinestone smoking blazer and pants. There’s also a number of condition-ready outerwear, as well as a lineup of bomber jackets, crewnecks, loose-fit pants and vests — all of which are constructed from fabrics spanning corduroy to leather.
The collection is now available on the official Stüssy and Dries Van Noten websites, as well as across all Dover Street Market locations. See the full lookbook here.
Daniel Arsham Turned Tiffany & Co.’s Motif Into a $59,000 USD Bronze Eroded Tiffany Padlock
Tiffany & Co.
Daniel Arsham‘s Future Relics are among the most prestigious collector’s items in the art domain; so naturally, Tiffany & Co. needed to buy into it. Working in tandem, the two created a piece titled Bronze Eroded Tiffany Padlock, under Tiffany’s new “Lock” collection.
Arsham looked into the luxury jewelry label’s archives to create a limited series of 99 sculptures, each of which resembles the artist’s classic crumbling work and the brand’s emblematic blue tone. Inside, there’s a bangle, designed in collaboration with Arsham, that is made from 18k white gold and set with diamonds and tsavorites.
On the project, Arsham said, “It’s very personal to me, but there’s also an element of history in there — a link between generations of craft, between function and design, between craftsmanship and beauty. These are the elements that make Tiffany so unique, the elements that allow it to consistently hone the ‘sweet spot’ between heritage and modernity. I wanted to crete an artwork to celebrate that.”
The collaboration will be available for a whopping $59,000 USD in select Tiffany & Co. stores on December 1.
Central Cee Starred in Jacquemus’ Winter 2022 Campaign
Oliver Hadlee Pearch
24-year-old Londoner Central Cee is a rapper, songwriter, and now, thanks to Jacquemus, fashion’s latest muse. After attending the French label’s FW22 “LE PAPIER” presentation in Arles, France, earlier this year (and publicly appearing in several of the brand’s older designs), the British artist is now the face of Jacquemus’ Winter 2022 campaign, “Neve World.”
In the campaign, shot by Oliver Hadlee Pearch and styled by Imruh Asha, Central Cee flaunts the brand’s coziest sweaters, scarves, balaclavas, gloves, hats and headbands. Under the creative jurisdiction of Simon Porte Jacquemus, the collection operates on a kaleidoscopic color palette, including shades of blue, violet, pink, red, off-white, orange and brown.
Among the range, a fluffy long-sleeve polo boasts a collar with two-button closure, ribbed cuffs and a contrasting hem, while fuzzy cargo pants are cut mid-rise, with patch pockets and a similar two-toned hem. The balaclava, which functions with a visor, features a fitted shape and embroidered iconography on its front. Following suit, a bucket hat encapsulates its wearer in smooth ombré tones with identical logo work.
Indulge in Jacquemus’ “Neve World” Winter 2022 campaign, starring Central Cee, here.
Balenciaga Opened Its Largest U.S. Flagship in Miami
Balenciaga on Tuesday officially opened its largest United States flagship in Miami’s Design District. The two-story, 786-square-meter space, which previously existed as two separate stores for the brand’s men’s and women’s collections, leans into creative director Demna‘s “Raw Architecture” concept with reevaluated luxury retail codes and structural interior designs.
Inside, Art Deco floors, paying homage to Miami’s distinct design history, are chipped; and spilled enamel pools under benches that are held together with an unusual cactus material. Walls appear corroded, and industrial railings are set as finishes, all in an attempt to challenge the notion of authenticity. There, Balenciaga’s finest offerings — ready-to-wear, shoes, accessories and objects — are deployed in perfect juxtaposition to their backdrop.
Balenciaga’s Miami Design District flagship is now open at the below address. The store is open 11 a.m. to 7 p.m. on Monday through Thursday, 11 a.m. to 8 p.m. on Friday and Saturday, and 12 p.m. to 6 p.m. on Sunday.
Balenciaga Miami Design District
151 NE 41st Street
Miami, Florida 33137
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