Now is the time to look back at the bustling May with many outstanding fashion news happening worldwide: Kering Group officially confirmed payment of more than 1.2 billion euros of Gucci and Dior’s tax debt. first designed the performance for BTS, Lacoste to change the logo for the wildlife conservation campaign, or the Met Gala 2019 event with the Camp: Notes on Fashion theme creating a global media storm.
Let’s review the top 5 remarkable fashion news in 5/2019.
- Kering Group pays 1.25 billion euros of Gucci tax debt
On May 9, The Fashion Law website reported that Kering Group (France) has agreed to settle 1.25 billion euros (equivalent to 1.4 billion USD) of Gucci’s tax with Italian officials. Earlier, the government had a sudden investigation into a Kering subsidiary based in Switzerland. The results published in November 2018 show that the leading Italian fashion house has evaded taxes during the period 2010-2016. Despite the commitment to pay, Gucci’s current CEO, Marco Bizzarri and his predecessor Patrizio Di Marco, are still being followed by agencies.
Under Alessandro Michele, Gucci became one of the most valuable brands in the world. Kering’s expectation in 2019 will help the long-standing Italian brand continue to reap record sales.
2. Dior first designed the demonstration for BTS
BTS fans have just been “exposed” when idols become the first male group to appear in Dior’s performance costume. These designs were inspired by creative director Kim Jones from the 2019 Pre-Fall collection that debuted in Japan last November.
Seven outift pieces are different pieces, but there is still a link about the type of bomber, leopard print, cross-pocket or cross-bag with military inspiration and sportiness. Kim Jones shared: “They are great guys and have a separate fashion gout. Although each member is a different style, they all mix together in an interesting way. ”
3. Met Gala 2019: Stylish male star on red carpet
Fashion lovers all over the world will look to the Metropolitan Museum of Art (USA) to admire the unique and disruptive wings on the theme of Met Gala 2019. Following that staging Male stars appear on the red carpet with a variety of different styles: impressive makeup like Ezra Miller, nostalgic like Jared Leto, gentle feminine like Harry Styles, funny like Billy Porter or simple and elegant like the monochrome outfit by actor Richard Madden. This year’s event host includes creative director Alessandro Michele, Serena Williams, Lady Gaga, Harry Styles and the indispensable “winter queen” Anna Wintour.
4. Topshop closed, filed for bankruptcy in the US
A few days ago the public was puzzled by the fashion news about the Arcadia group, Topshop’s parent company filed for bankruptcy in the US, closed 11 stores. Not only that, the brand plans to open more stores in the UK and lay off more than 500 employees.
This is said to be the final decision after the failed efforts of Philip Green. Founded in 1964 and based in London, Topshop has 500 branches in 58 countries and created a fashion fever when cooperating with many big names like supermodel Kate Moss or Beyoncé. However, in the past few years the brand from the UK has been surpassed by revenue from online retail sites as well as the ability to update trends.
5. Lacoste changed the logo, launched a wildlife conservation campaign
Lacoste recently joined the International Union for Conservation of Nature (IUCN) to present a collection of 10 limited edition T-shirts with the theme “Save Our Species”.
Accordingly, the original crocodile logo will be replaced by images of 10 endangered animals such as antelopes, whales, seals, dragonflies, bats, etc. Last year, French clothing brand had signed a 3-year contract with IUCN in an effort to raise human awareness about the conservation of endangered animals. It is known that the number of polo shirts on sale will coincide with the number of each species that exists in nature. It is estimated that 3,520 shirts have been made, the lowest rate belongs to Damselfly Cebu dragonfly species with only 50 individuals in Shanghai.