From Chanel and Hermès to Versace’s Prada-backed reboot, Natalie Theodosi on the designers, deals and ideas set to shape fashion’s next era.
What comes after a major industry shakeout? The dust settles, energy shifts and creativity blossoms – at least that’s my wish for the year ahead. After one too many high-profile firings and hirings inside the most revered design studios in Paris and Milan – Loewe, Dior, Chanel, Gucci, Jil Sander and Bottega Veneta are among the brands that reviewed their leadership teams this year – a new generation of designers and executives is now installed in leadership positions. Some have already teased their new strategies with debut runway shows, films and ambitious campaigns. There’s been a lot of excitement and heated debates among fashion professionals about the results but the market in 2026 will give the real verdict in the form of shop-floor sales.
Which brand is worth keeping an eye on – or buying shares in – come the new year? Whether you are interested in stock or leather goods that will retain their value, Hermès makes for a safe investment. The company has continued to grow despite macro-economic headwinds and it maintains cultural relevance, even while refusing to engage in trend cycles, celebrity tie-ins and other predictable marketing tricks. The appointment of its new men’s creative director, Grace Wales Bonner – who is known for designing everything from best-selling Adidas trainers to artisanal tailoring – will raise its stock even further.
I’ll also be looking closely at Versace, which has been bought by the Prada Group for $1.38bn (€1.2bn) and given a full facelift. It might take more than a year to turn the business around and find a new creative lead but this is a success story in the making: its new collections, shifting the focus to daywear and joyful colour palettes, will soon translate to profit.
The many HR changes taking place raised a lot of questions about who our era-defining designers are. Is it possible for modern-day fashion brands – many of which now turn over close to €20bn per year – to still nurture the next Coco Chanel and take creative risks?
Interestingly, the house of Chanel seems to be setting the agenda today as much as it did in the 1920s when its founder started reworking men’s silhouettes and using jersey materials for the first time. Its newly appointed artistic director, Matthieu Blazy, is defining the uniform of today by reworking the house’s codes, from the tweed jacket to the classic cotton shirt and the quilted leather bag. He makes a compelling case that creative talent can still thrive in today’s corporatised fashion landscape – and after a successful debut, 2026 will no doubt be his year.
The very definition of luxury is also being questioned: beyond a logo and price tag, it is becoming more closely tied to quality or personal memory. It’s why an Ascot Chang shirt, customised during a trip to Hong Kong, or a well-cut trench coat by Japanese label A.Presse now hold as much (if not more) value as an item with a recognisable logo.
The independents are set to influence how we get dressed as much as the mega brands but it’s our job to seek them out and look beyond our screens for new discoveries and inspiration. I keep returning to a conversation with Canadian-born designer Erdem Moralioglu, whose eponymous brand has remained independent for the past two decades: every Friday, he locks his phone away and goes to the library to sketch, read and flip through magazines. As online noise reaches a crescendo, that might be the most revolutionary action you can take in the new year – both for your taste and your mind.
Natalie Theodosi is Monocle’s fashion director. Keen for more? Listen to her interview with Erdem Moralioglu here.
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