LVMH dominated the fashion news this week with two very big announcements.

First…

LVMH Backs Out of the Tiffany Deal

Why is this such a big deal?  Had it gone through, it would have been the largest acquisition in the HISTORY of luxury.  $16 billion is a big freaking deal.  Tiffany’s global recognition would have given LVMH a large feather in its cap – one that could compete with Cartier.

So why did LVMH back out?  Experts have stated (and I whole-heartedly agree) this is nothing more than a case of buyer’s remorse.  In the wake of the pandemic, luxury as a whole is taking a major hit.  Revenues are down 35% across the board.  LVMH is trying to salvage its own losses; the last thing they want is to go on a $16 billion shopping spree.

Of course the lawsuits are flying.  This is sure to drag out for a long time to come with neither company emerging unscathed.

Kim Joes Appointed Creative Director of Fendi

While the Tiffany deal is history making, this appointment is the major news of the week IMO.

First, any designer that replaces a post previously held by Karl Lagerfeld has massive shoes to fill.  Karl is the only designer in history to serve as Creative Director for three labels simultaneously.  And he did so until the age of 85.  That’s over 50 years of multitasking.  Talk about a prolific figure.  Karl was truly other-worldly.

So with Kim Jones joining the Fendi team – while also keeping his post as lead designer for Dior men – one is naturally drawing parallels.

Opinions are mixed on this news, and I’m leaning towards – meh.  Do I think Kim Jones is talented?  Absolutely.  Do I think he’s the right fit for Fendi?  Probably not.  Fendi is big, bold and Italian.  Jones is more contemporary with a street style edge.  As always, I look forward to a designer that makes me look at things like I never have before.  One who will challenge me sartorially.  Here’s looking at you Kim…