This week, the fashion industry printed its receipts.
On the rise, Prada (HKSE:1913.HK +1.11%) reported a record-high annual revenue for 2022, reaching €4.2 billion EUR ($4.4 billion USD) with a 21% increase when compared year-over-year. On the fall, adidas (XETRA:ADS.DE -1.48%) and Gap’snumbers were not so impressive. The former company reported a net loss of $540 million USD in the fourth quarter of 2022, while the latter reported a $273 million USD decline in the same period. Along with several additional factors, both losses are largely due to the shutdown of their respective YEEZY partnerships.
Elsewhere, Paris Fashion Week came to a close; Louis Vuitton revealed that it’s headed to a small Baroque island in Italy for its Cruise 2024 show in May, and Heaven by Marc Jacobs opened its first store in London.
Below, Hypebeast has rounded up the top fashion stories of the week so you can stay up to date on trends in the industry.
