Categories: Finances

Will nostalgia win over skittish shoppers?

In fashion, perception often feels more real than the truth. But for American designers at New York Fashion Week, one cold, hard fact couldn’t be dressed up: it will be a tough year ahead. Gucci parent company Kering reported a 12 per cent sales plunge in the fourth quarter compared with the same period in the previous year, and with President Trump’s looming tariffs on imported goods, how can designers convince consumers to buy clothes when everyday living is about to get more expensive?

In hard times, returning to the familiar is a natural coping mechanism. No surprise, then, that designers this season sought answers from the past — or to the well-worn and pared-back aesthetic of The Row and Phoebe Philo’s Celine.

Tory Burch went back to basics, reinterpreting American sportswear — the translation of high fashion into easy-to-wear clothing as both an object of desire and a tool for everyday life — in unfussy silhouettes. “I didn’t just want to iterate on that idea [of sportswear], I wanted to twist it, both figuratively and literally, reflecting how we’re all feeling,” said Burch. “It’s a complex time, and things aren’t as straightforward as they seem.”

Tory Burch went back to basics . . . 
. . . reinterpreting American sportswear

This meant sweatpants and rugbies were made from luxurious Japanese jersey, classic button-downs featured oversized sleeves, and slingback shoes had distorted T-straps. “I don’t want pieces to say they’re part of a trend or from a specific time. I wanted them to feel now, but also like something you keep forever.”

Thom Browne, who built a global business from an appointment-only shop in the West Village in 2001 — and which is now 90 per cent owned by Zegna, a publicly traded company on the New York Stock Exchange — knows how to rework classics too. A master storyteller, his recent collection escaped to an otherworldly realm at Hudson Yards’ The Shed venue filled with 2,000 origami birds, where his signature shrunken wool suits inspired conceptual yet wearable long-panelled skirts and strapless, voluminous A-line dresses.

The 1990s proved irresistible for Coach © Isidore Montag/Gorunway.com
Styled by Olivier Rizzo, the show featured street-cast models in oversized, upcycled denim © Isidore Montag/Gorunway.com
Michael Kors looked to laid-back styles and a louche kind of luxury . . .
Tailored men’s jackets were worn off the shoulder, while baggy trousers were paired with oversized grey wool knits © Isidore Montag/Gorunway.com

At both Michael Kors and Coach, the ’90s proved irresistible — but each brand took different parts of the decade to connect with its respective target demographic.

Fresh off opening a new store on Madison Avenue last month, Michael Kors is trying to turn itself round with more affordable bags and better marketing following years of declining sales, and after an $8.5bn merger between parent company Capri and Tapestry (Coach’s parent company) was called off by the FTC last year. Holding his show at the former location of the Tunnel nightclub — an epicentre of the ’90s club scene — Kors looked to laid-back styles of actresses Uma Thurman and Sharon Stone and proposed “dégagé chic,” a louche kind of luxury where tailored men’s jackets were worn off the shoulder, baggy trousers were paired with oversized grey wool knits, and liquid skirts flowed beneath roomy, floor-length sequinned gowns. “I think now, people want things that are special, but they want things that they know will last and will stand the test of time.”

Over at Coach, executive creative director Stuart Vevers is staying the course — because if his strategy isn’t broken, why fix it? Year-on-year sales at Coach were up 11 per cent in the most recent fiscal quarter, and the brand’s popularity among Gen Z landed it the number 5 spot on shopping search engine Lyst’s “Hot Index” over the holiday season (rankings are compiled via searches, product views, sales and social media activity).

Calvin Klein returned to the runway for the first time since 2018 under new creative director Veronica Leoni
Her collection featured precisely tailored monochrome suits, drapey shawls and dresses, and clean sweaters over button-down shirts © Calvin Klein Collection
Alexander Skarsgård, Kate Moss, Christy Turlington and Grace Burns at the Calvin Klein show © Getty Images

During challenging times, Vevers believes focus, clarity, and delivering a succinct brand vision are essential. With Larry Clark’s film Kids on his mood board, he reflected on ’90s New York: “There was a certain nonchalance, an ease in how people dressed from that era,” he said. The show, styled by Belgian Olivier Rizzo, featured effortlessly cool, street-cast models in oversized, upcycled denim — skater and raver styles — paired with cropped jackets or floor-length coats, grungy silk dresses layered over jeans, and new iterations of the brand’s popular Brooklyn and Empire bags, adorned with playful furry charms.

Unlike Vevers, Veronica Leoni must build a new vision for Calvin Klein, making her debut as creative director for its high-end line, Collection. Calvin Klein has been absent from the runways (though not from Instagram feeds, thanks to its meme-worthy campaigns featuring a shirtless Jeremy Allen White) since Raf Simons left the label in 2018. But rather than chasing something entirely new, she leaned into the minimalist codes of the brand’s namesake founder, who, at 82, made a rare front-row appearance. Also in attendance were Kate Moss and Christy Turlington, models who defined the brand’s aesthetic in the ’90s and helped shape the era’s zeitgeist.

“I wanted to connect to Mr. Klein’s original energy — hitting reset and picking up right where he left off,” said Leoni. Fittingly, there were androgynous outerwear, precisely tailored monochrome suits, drapey shawls and dresses, and clean sweaters over button-down shirts.

Leoni, who honed her skills at The Row and Philo’s Celine, understands this customer for pared-down fashions. “I think there’s an exciting space in the market for this Collection — consumers today are incredibly informed and have deep respect for the craft and intention behind this kind of wardrobe,” she said. “I can see different clients approaching the collection from different angles and making it real.” The real question isn’t whether she can build a customer base but rather whether corporate management is willing to commit to her approach for the long haul.

Thom Browne’s show at The Shed venue at Hudson Yards © Gregoire Avenel
The venue was filled with 2,000 origami birds © Gregoire Avenel

Fforme, another minimalist label now designed by Frances Howie, who worked with Alber Elbaz at Lanvin, wants to bring back couture techniques — such as multidirectional bias-cut dresses and precisely tailored suiting from three generations of Italian tailors — at non-couture prices. Khaite, a label by Catherine Holstein that has won multiple CFDA awards, paraded a collection with pieces like oversized outerwear in luscious leathers, sheer sweaters and leopard-print boots that will keep its loyal following of cool girls with money satiated.

Some designers went all the way back in time to the Victorian era. Joseph Altuzarra, who was inspired by Emily Brontë’s Wuthering Heights, sent forth a collection of romantic and feminine pieces — from flowy dresses with lip prints to showstopping crystal-adorned gowns. Meanwhile, Anna Sui drew inspiration from madcap heiresses of the 1930s, producing magpie prints and crushed velvet dresses (a trend this season).

Carolina Herrera’s Fall 2025 under creative director Wes Gordon © Jonas Gustavsson
The collection was inspired by the 1979 film ‘Being There’ © Jonas Gustavsson

Wes Gordon, the Carolina Herrera creative director who just dressed First Lady Melania Trump for President Trump’s inauguration, turned out a collection of looks for the high-society women who make up his customer base. Inspired by the 1979 film Being There, Gordon managed to give the white button-down shirt, one of the brand’s signatures, a more modern look. “I made it oversized and put it over a crinoline covered with lace,” said Gordon. “Carolina Herrera is a commitment to making beautiful things, and there’s always an audience for that.”

In the city, there couldn’t be a more New York story than Raul Lopez, who designs Luar, an independent label that has grown to have a hit product in the Ana bag, which is coveted both by hipsters in Mexico City and Gen X women from the Upper West Side. But Lopez, a Dominican-American who grew up in the predominantly Puerto Rican neighbourhood of South Williamsburg, has won a loyal following for his flamboyant urban-meets-high-fashion aesthetic, particularly among a community of queer people of colour whom he often casts in his shows — like Stephanie Milan, a trans vogueing legend.

While many designers shied away from questions about politics this week — in sharp contrast to February 2017, when fashion week felt like one big Trump protest — Lopez did not stay silent on the executive orders that directly targeted his people. “I had to fight to get to where I am today. I had strikes against me for being Latino, flamboyant, for being gay, dressing the way I dress, etc. I’m not going back in the closet for anybody,” said Lopez. “We want to tell people we’re here, and we’re not going anywhere.”

Burch was less direct: “Women, particularly — well, for many people — this time is complex. We need to give them the ability to feel powerful and confident. We don’t want to take any more steps backward.”

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