Not long ago, fashion seemed to be the last stronghold of unquestioned certainty — a fortress immune to inflation, pandemics, recessions, and even common sense. Catwalk shows packed to the brim, queues for handbags worth a month’s salary, and crowds of influencers in front rows with expressions like they were judging contemporary art. And yet… something is cracking. Something is shifting. As if fashion — grand, theatrical, self-assured — had started to stutter. And that’s why today, instead of devouring it greedily like a long-postponed dessert, we’re more often consuming it carefully. Cautiously. Sometimes even with a hint of distaste.
The Name Carousel – Who Dresses the World Now?
The world of high fashion now resembles a game board where the pieces are incredibly valuable — and constantly in motion. In 2025, we witnessed a real carousel of names at the top of the industry. Jonathan Anderson, after 11 years at Loewe, took full control of Dior — both menswear and womenswear. It’s the first time in years that one person is steering the entire creative vision of this iconic house.
Gucci saw changes too — Demna, the controversial visionary from Balenciaga, is expected to take the reins later this summer. Meanwhile, Pierpaolo Piccioli, former creative director of Valentino, has moved into Balenciaga, potentially bringing a touch of emotional depth and subtlety. Even Donatella Versace has stepped aside — after nearly three decades, she passed the torch to young designer Dario Vitale.
Departures, transfers, returns — fashion is experiencing its own version of a leadership crisis. It’s no longer just about who designs, but whether they can answer the new questions posed by our era. Can they inspire — not just on the runway, but in real life?
Is Luxury in Crisis? More Than You Might Think
It’s becoming increasingly clear that even luxury empires aren’t immune to market turbulence. LVMH, Kering, Richemont — giants that once grew faster than tech firms — are now reporting losses. Not catastrophic, but noticeable. Like the first waves before a rising tide.
China, the largest luxury market, is starting to get full. Consumers are becoming more discerning, less interested in flashy logos. In Europe, a designer bag is increasingly seen as an economic indulgence rather than a smart investment. And younger generations? They view luxury with suspicion: Do I really need those four letters —
L-O-E-W-E — to feel valuable?
Add to that the saturation: weekly collections, limited drops, collaborations that have lost their meaning. Luxury, instead of being a dream, has become aesthetic fast food. Something to grab, scroll past, wear briefly — then abandon. As a result, even brands like Balenciaga are experiencing not only falling sales, but also a cultural fall from grace. From essential to problematic. And fashion — like all entertainment industries — does not like to be problematic.
A Weary Consumer
Today’s fashion consumer is tired. Tired of seasons that last two weeks. Tired of constant “revolutions” that turn out to be nothing more than a shifted seam. Tired of luxury that has lost its exclusivity by becoming ubiquitous — so much so that a Dior bag hardly differs from H&M, except for the tag and the credit card limit.
So what’s left? Caution. Critical thinking. Conscious selection. Maybe even letting go of the chase for the next “must-have.” Fashion is no longer something to be mindlessly consumed. In these times of uncertainty and fatigue, we’re beginning to treat it like a plate of fine oysters — with care, slowly, fully aware that not every one is fresh.
Instead of a Moral
Fashion isn’t dying. But it is transforming. And though it can still enchant, it can also repel — with pretentiousness, speed, repetition. That’s why it’s worth — and I say this as a longtime consumer and observer — eating it carefully. Don’t jump on every trend. Don’t believe every campaign. Don’t kneel before every label.
Because today, luxury isn’t about possession. Luxury is about the awareness of choice.
