Fashion, luxury and lifestyle news aggregator – May 2026

Luxury’s cautious start to 2026

Following a ‘turbulent’ 2025, the global luxury market has had a cautious start to 2026, as geopolitical uncertainty due to the conflict in the Middle East and weaker tourist flows continued to weigh on the sector’s performance.

Kering reported first quarter revenues of €3.57 billion, down 6.2% year on year. The group’s performance was once again dragged down by Gucci, whose revenues fell 14.3% to €1.35 billion. The brand faces ongoing challenges in brand repositioning and persistent weakness in Western Europe and China.

Hermès stood out as one of the sector’s stronger performers, reporting Q1 sales of approximately €4.1 billion, a 5.6% year on year increase. However, the results fell short of analyst expectations. The company cited reduced demand linked to disruption in the Middle East, highlighting the region’s importance as one of the world’s fastest growing luxury markets.

LVMH reported Q1 revenues of €19.1 billion, a 6% decline on a reported basis. The group similarly attributed the drop to lower tourist spending and ongoing geopolitical uncertainty. The results weighed more broadly on sector sentiment, as shares fell in several luxury brands – including Burberry, Dior, and Moncler – with investors reassessing recovery prospects.

Looking beyond individual earnings, analysts are framing 2026 as a year of stabilisation rather than resurgence for the luxury industry. BNP Paribas forecasts organic growth of around 6% for the sector, driven primarily by the United States and a gradual improvement in China, while Europe is expected to lag. Deloitte similarly notes that luxury groups are shifting their focus to protecting margins, tightening distribution, and deepening client relationships, as the industry adapts to a slower growth environment which continues to face significant macroeconomic headwinds.

Couture at Coachella

Fashion at Coachella has slowly evolved from carefree desert-style to signature couture pieces, worn by headliners and high profile attendees. Dior made a custom wardrobe for Sabrina Carpenter, including five looks for her weekend one set alone. Other notable couture pieces were worn by K-pop star Lisa in Iris van Herpen, and Karol G in custom Etro and Luar.

Headliner Justin Bieber wore chunky boots by Loewe, a grey t-shirt from his own fashion brand Skylrk, and jorts by Lu’u Dan. His Skylrk sales hit $15 million over both Coachella weekends at the Skylrk pop-up shop within the festival grounds and online, surpassing previous merch records. Bieber also drove $234,000 in media impact value (MIV) for Loewe and increased Instagram impressions for Lu’u Dan by 300%.

Brands similarly seized the opportunity to host pop-up events. Gap, the festival’s official merch partner, brought its immersive ‘Hoodie Hub’ to Coachella, debuting its exclusive Gap x Coachella hoodie. Festival-goers were able to customise their Gap hoodies with limited edition patches and draw string beads. YSL Beauty hosted a classic drive-thru party event, which was an opportunity to debut the brand’s newest Libre Berry Crush fragrance as well as other YSL products. Hailey Bieber’s invitation-only ‘Rhode World‘ experience, dubbed ‘Rhodechella’, also created $10 million in MIV in the first weekend alone for her beauty brand Rhode, which sold to Elf Beauty last year for $1 billion. These events highlight the lucrative opportunities arising from exposure at one of the world’s biggest music festivals.

High fashion to high street

Luxury retailers have long tapped high street collaborations as a way to boost footfall, capture younger audiences, and generate hype or brand awareness. While traditionally seen as a way for high-street brands to gain prestige, these partnerships can act as a vital boost for independent designers or a strategic pivot for high-street brands looking to enter the luxury space. Recently, this strategy has gained fresh momentum, with some high-profile brands seeking opportunities with high street retailers, to extend their reach beyond traditional luxury consumers.

Victoria Beckham’s new collection with Gap is designed to support the brand’s ‘luxification’ under new chief executive, Richard Dickson, who joined from Mattel. Gap’s signature classics, including denim, will be reimagined through Beckham’s refined, design-led aesthetic. Elsewhere, Dr Martens has joined forces with Marc Jacobs for a third time, whilst Marks and Spencer has partnered with designer Bella Freud.

Stella McCartney has also embraced the high-street tie up, bringing her signature alternatives to leather and fur to a new H&M collection featuring snakeskin-inspired patterns. ‘The majority of people who love my stuff can’t get my stuff because of the price point’, McCartney has said, positioning the collaboration as a way to make her designs more affordable. The move echoes H&M’s landmark 2004 partnership with Karl Lagerfeld, which sparked a media frenzy as consumers rushed to buy affordable designer pieces.

While such collaborations risk compromising a luxury brand’s exclusivity, they often succeed in building popularity and broadening appeal. In an increasingly democratised fashion landscape, such collaborations can be effective for luxury brands seeking to enter new markets and connect with a younger, aspirational audience.

Inside fashion’s latest power moves

Last month it was announced that Stefano Gabbana, co-founder of Dolce & Gabbana, had stepped down as chairman of the company. The group confirmed that Stefano will continue in his creative role, and that the move was merely ‘part of a natural evolution of its organisational structure and governance’, ending Stefano’s four decade run as chairman. He was replaced by Alfonso Dolce, brother of the brand’s co-founder Domenico Dolce and current chief executive, whilst Stefano Cantino, former Gucci chief executive, has been appointed as co-CEO to work alongside Alfonso.

Cantino previously spent two decades at Prada Group and five years at Louis Vuitton before joining Gucci in May 2024. His move to Dolce & Gabbana comes at a time when the luxury giant is seeking to evolve from ‘a fashion brand to a life-style company’ amidst grappling with debt and a downturn in the luxury retail sector.

Meanwhile, the Ferragamo family has appointed former Estee Lauder chief executive, Fabrizio Freda, as special strategic adviser more than a year after parting ways with Marco Gobetti. Freda will advise on ‘strategic decisions and ‌on ​strengthening the structure and operations of the Ferragamo Group’ as well as supporting the search for a new CEO at Salvatore Ferragamo. The group ended its last financial year with a turnover of €976 million, a drop of 5.7% compared to 2024.

British designer Christopher Kane has also recently been named as the new creative director of Mulberry. Kane will relaunch the brand’s women’s ready-to-wear collection. The brand said that Kane’s ‘vision resonates strongly with Mulberry’s heritage and the spirit of British creativity that defines the house’. His first collection will debut at London Fashion Week in September 2026, and in stores and online in January 2027.