Weekly Fashion Highlights | Kim Kardashian's SKIMS and Nike unveil a collaborative label, ASICS sales soared to record heights..

In this age of volatility, the fashion industry is in a state of perpetual evolution. Both high-end labels and sportswear powerhouses are navigating a landscape rich with both prospects and hurdles. This week's standout development is undoubtedly the announcement of a collaborative brand between Kim Kardashian's SKIMS and Nike. It remains to be seen whether Nike, by leveraging celebrity influence, can harness Kardashian's star power to rejuvenate its underwhelming performance. Meanwhile, luxury conglomerates OTB and Kering have both faced performance declines over the past year. Will the appointment of new creative directors and shifts in senior management pave the way for renewed success in both market presence and creative innovation? Stay tuned for the latest industry insights brought to you by REVERSIBLE this week.

Nike and SKIMS unveil a collaborative label: NikeSKIMS

Kim Kardashian's business empire is once again on the rise, as sportswear titan Nike and her shapewear label SKIMS unveil their collaboration on a new joint brand, NikeSKIMS. This initiative will center on women's activewear, integrating SKIMS' innovative, solution-driven design ethos. This partnership is pivotal for both entities, marking a fresh chapter for Nike under CEO Elliot Hill while SKIMS continues its ambitious expansion trajectory.

Previously, SKIMS joined forces with outdoor apparel leader The North Face last December, launching reimagined TNF styles in a range of skin-tone colorways that sold out within minutes. SKIMS has steadily cultivated a remarkable portfolio of sports collaborations, including a partnership with the U.S. Olympic Team during the Tokyo 2020 Olympics, and ongoing support for the national team at the 2022 Beijing Winter Olympics and the upcoming 2024 Paris Olympics. The inaugural NikeSKIMS collection is slated for release in spring 2025, with plans for global expansion set for 2026.

ASICS sales soared to record heights in 2024

In its financial report for the fiscal year ending December 2024, ASICS announces a historic achievement in sales, operating profit, and net income. The renowned Japanese sportswear company experienced an impressive 18.9% increase in sales, reaching 678.5 billion yen. Operating profit surged by 84.7%, hitting 100.1 billion yen for the first time, while net income climbed 80.9% to 53.8 billion yen.

Both ASICS' SportStyle and Onitsuka Tiger lines have shown remarkable growth, with net sales for each nearing 100 billion yen. Notably, Onitsuka Tiger saw a 58.3% boost in net sales compared to the previous year, boasting a profit margin of 34%, establishing it as the leading category in profitability.

OTB's annual sales fell more than 4%

The Italian group OTB has disclosed a downturn in its full-year sales for 2024 in its recent financial report. The group, which encompasses renowned labels such as Maison Margiela, Diesel, Jil Sander, Marni, and Viktor & Rolf, recorded a turnover of $1.88 billion, reflecting an overall sales decline of 4.4% across its portfolio. While Margiela and Diesel experienced growth, with sales rising by 4.6% and 3.2% respectively, these gains were insufficient to counterbalance the stagnation faced by other brands within the group, notably Jil Sander and Marni.

As the luxury fashion landscape undergoes significant transformations, OTB is not exempt from these shifts. Recently, Jil Sander announced a strategic leadership change, appointing former Fendi CEO Serge Brunschwig as its new CEO. The CEO position at Diesel remains unfilled following Eraldo Poletto's brief tenure of seven months. Currently, Glenn Martens stands out as a pivotal creative force within OTB Group, overseeing both Margiela and Diesel. Meanwhile, Luke and Lucie Meier are set to present their final collection for Jil Sander this month, amidst speculation that Daniel Lee may step in as the new creative director.

CELINE announces return to Fashion Week with first show under new Creative Director

Celine has announced that it will return to fashion week and will hold a special show during Paris Fashion Week in July. This is the first appearance of the brand's new creative director after a period of creative transition. The upcoming collection will be the first to show the vision of the new leader, whose identity remains confidential but promises to bring a new perspective to Celine's classic elegance and modern luxury.

After withdrawing from fashion week in recent seasons, Celine's return is seen as an important moment for the brand and the fashion industry. Some analysts pointed out that Celine's recall of Michael Rider this time is intended to recreate the glory of the Phoebe Philo period. It is hoped that this return of Celine will bring a fashion feast that perfectly combines minimalism and breakthroughs to fans and industry insiders.

Kering sales declined 12%

Kering's latest annual report reveals a significant downturn for Gucci, with a dramatic 24% decline in revenue during the fourth quarter of 2024. In contrast, Saint Laurent experienced an 8% revenue decrease in the same quarter, contributing to a 12% decline across Kering's portfolio.

On a more positive note, Bottega Veneta saw a 12% increase in sales, largely driven by the sustained popularity of its leather goods. While the growth in Bottega Veneta and eyewear provided some relief against the backdrop of Kering's overall losses, the group's performance still fell short compared to its competitors. LVMH reported a modest 1% organic sales growth in the fourth quarter of 2024, reaching approximately 23.95 billion euros, despite a 1% decline in its fashion and leather goods sectors. Meanwhile, Richemont achieved a notable 10% year-on-year increase in fourth-quarter sales at constant exchange rates.

For the entirety of 2024, Gucci's sales totaled 7.7 billion euros, followed by Saint Laurent at 2.9 billion euros, Bottega Veneta at 1.7 billion euros, and other brands collectively generating 3.2 billion euros. The group's recurring operating income for 2024 plummeted by 46%, landing at 2.6 billion euros.

Editor: Clarance Wang, Juham Lin