Gucci Reports 25% Revenue Drop and Jacquemus Arrives in NYC in This Week's Top Fashion News

This week, fashion’s biggest headlines highlighted the luxury slowdown's latest victims, global collaborations and regional brand expansions.In the luxury market, Kering reported a 16% dive in sales last quarter affecting Gucci, Balenciaga and more, while Moncler hosted its star-studded collaborative "City of Genius" launch in Shanghai. Elsewhere, French designer Jacquemus generated mass excitement on the streets of New York City, opening its first store in the region, and Shawn Stussy officially announced the relaunch of S/DOUBLE. In more collabs Wales Bonner and adidas Originals unveiled their latest collection and Beams and Polo Ralph Lauren honored the Polo Bear motif. Finally, Gucci announced its cruise 2026 date and location, garnering hope for a redemptive arc.Below, Hypebeast has rounded up the top fashion stories of the week so you can stay up to date on trends in the industry.Kering Reported A Drop in Revenue Affecting Gucci, Saint Laurent, BalenciagaIn the latest development of the "luxury slowdown," French luxury conglomerate Kering warned investors of sharply declining performance led by its flagship brand Gucci.The luxury conglomerate's third-quarter report showed a 25% drop in year-over-year revenue at Gucci and an overall 16% sales drop across its brands. Saint Laurent posted a 12% sales drop, and sales at the rest of the company’s brands including Balenciaga, McQueen, and Boucheron also missed expectations.The next steps for Kering may comprise a strategy shift involving boutique closures, layoffs and creative changes at its fashion houses. Ultimately, the company and its peers have no choice, but to be flexible and adaptive to weather the converging crises.Moncler Unveiled Its "Genius" Collaboration Projects in Shanghai with A$AP Rocky, Nigo, and Many MoreMoncler produced a boundary-breaking spectacle in Shanghai with its “City of Genius” showcase, featuring a roster of culture-defining collaborators like A$AP Rocky, Willow Smith, Edward Enniful, Jil Sander, Hiroshi Fujiwara, Lulu Li, Palm Angels, Donald Glover, Rick Owens and Mercedes-Benz by Nigo.Hypebeast was on the ground in Shanghai to document the awe-inducing programming and to provide a first look at the fantastical creations the brand unveiled.Jacquemus Crosses the Atlantic to Open First-Ever New York City LocationFrench label Jacquemus has opened its first-ever boutique in New York City, revitalizing a 19th-century building in SOHO, Manhattan for its location.Simone Porte Jacquemus joined the staff for the boutique's opening, even briefly stepping outside to say hello to the massive crowd, which formed outside the building. French croissants and fresh mandarin juice were also available to attendees, distributed out of an amorphous chrome food truck.Architecture studio OMA helped Jacquemus infuse its provincial French charm into the boutique, while also preserving the historical identity of the building. Furniture from designers like Frank Lloyd Wright, Jean Dunand and Bertrand Lacroix is on display in the store along with original art by Aristide Maillol, Joan Miró, Pierre Bonnard, Peter Schlesinger and Wolfgang Tillmans.Shawn Stussy Relaunched S/DOUBLEEarlier in July, Stüssy founder Shawn Stussy announced the revival of his long-admired S/DOUBLE label via a billboard near skate brand Globe's offices in Melbourne, Australia. Now the label has made its long-awaited return with a new FW24 collection.S/DOUBLE adapts Stüssy's signature surfer aesthetics and handwritten visuals. The range of garments is stamped with Stussy’s “Shawn” signature, including graphic t-tees, soccer jerseys and checkered button-downs. Some t-shirts feature text saying "Roots since the beginning of this thing of ours. Big love,” most likely referring to Stussy's still strong brand community, which has kept his work relevant for decades.As of now, the release is only available in Australia and New Zealand, but stay tuned for updates on product distribution.Wales Bonner x adidas Originals Reveal Collection Honoring Hip-Hop's NYC RootsWales Bonner's latest collection for adidas Originals pays homage to NYC, the home of Hip-Hop, with the introduction of a crocodile-embossed Superstar model and new expressive Samba and Samba Millenium variants.Throughout the range of apparel, proportions and fits popular in the 1970s are revived with new energy. Groovy floral prints are found on shorts, tanks and cropped polo shirts, while solid-colored tracksuits come in tangerine orange and turquoise blue colorways. To enhance the retro aesthetic, the adidas logo is enlarged on graphic tees, jackets and hoodies.The UK-based designer's adidas Originals collaborations have given the brand whole new feel with inspirations ranging from British subculture to her Caribbean roots and the global African diaspora.The Wales Bonner x adidas Originals FW24 collection will be available globally on October 24 at adidas‘ web store, via the CONFIRMED app and select retailers.BEAMS x Polo Ralph Lauren's Latest Capsule Spotlights the Classic Polo BearThe fourth release from BEAMS and Polo Ralph Lauren‘s “Navy and Gold Logo Collection,” centers on brand's famed Polo Bear mascot originating from the 1990s. Heather gray and classic navy hoodies boast illustrations of the Polo Bear in a hand-illustrated style and dressed head to toe in logo gear from the "Navy and Gold Logo Collection."The same bear appears on hefty canvas tote bags in natural beige and navy colorways, with roomy paneled construction. Embroidered bears are sewn into button-ups and caps, while denim shirts in an indigo hue features a smaller embroidered applique of the Polo Bear on the pocket. The collection also includes navy ribbed ankle socks scattered with golden Polo logos.The fourth installment of BEAMS x Polo Ralph Lauren’s Navy and Gold Logo Collection arrives on October 25 at BEAMS and BEAMS BOY label stores and BEAMS‘ web store.Gucci To Honor Florence, Italy Roots in Cruise 2026 ShowFor its 2026 cruise presentation, Sabato De Sarno will pay homage to the city of Florence, the city where the luxury brand was birthed in 1921. Following his debut cruise show at the Tate Gallery in London in 2024, “Gucci Firenze” will mark De Sarno’s second cruise collection for the label.Former Gucci creative lead, Alessandro Michele last held the brand's cruise show in Florence in 2018 at the Palatina Gallery in Palazzo Pitti, but an official location for the next Florence presentation has yet to be announced. The Gucci Cruise 2026 is set to take place on May 15, 2025.Click here to view full gallery at Hypebeast