WWD Honors industry's top-performing companies, designers and executives. Bernard Arnault, Morris Goldfarb, Haider Ackermann and Michael Rider were among those receiving awards. October 28, 2026, 3:09pm An overflow crowd turned out Tuesday night for the 10th edition of WWD Honors: The Global Fashion Awards, where top executives, designers and businesses were singled out for their outstanding contributions to the fashion industry. The big award of the night, the John B. Fairchild Honor for lifetime achievement, went to Bernard Arnault, chairman and chief executive officer of LVMH Moët Hennessy Louis Vuitton, who was joined by his wife Hélène Mercier-Arnault and son Antoine and colleagues at the dinner following the first day of the 29th WWD Apparel and Retail CEO Summit at Casa Cipriani in lower Manhattan. In accepting his award, Arnault said: "The future does not belong to those who comment on crises. It belongs to those who adapt to them and continue to create what women...and men...will love for decades to come. That is what I will keep working for." He also complimented the legendary, much feared and inventive John B. Fairchild, remarking that he "understood before anyone else that fashion was not just about clothes. It was about people: designers, models, clients, artisans, entrepreneurs." The event also honored men's and women's designers of the year as well as the top watch brand and the public and private apparel and beauty companies that outperformed this year. And Morris Goldfarb, chairman and CEO of G-III, who accepted the Creative Leadership award at the event. Goldfarb was presented the award by his son, Jeff Goldfarb, executive vice president of G-III. In an introductory video, executives said Goldfarb built a $3 billion business by displaying stamina, tenacity, quick-wittedness, nimbleness and always a healthy dose of creativity. And long before it was the norm, he was promoting women into senior leadership roles because he believed in talent, not titles. "It's pretty special to be up here tonight to introduce Morris as he's honored with the Creative Leadership award," said Jeff Goldfarb. "I spent my career working with him and have seen firsthand how he operates, both in building G-III into the multibillion-dollar company it is today, as well as the many ventures he has taken on over the years. And through it all, what makes his leadership so successful comes down to a simple approach: trust your instincts, surround yourself with good people and never dwell on the past." "That's a measure of success, having your son introduce you," said Morris Goldfarb. "When I look back, what stands out most isn't the deals or the brand, it's the people." He explained that his father, Aron Goldfarb, survived the Holocaust and came to America with very little. He built a small leather business in New York, worked long hours and took no shortcuts. "From him I learned integrity, persistence and the courage to see possibility where others didn't." He became CEO in 1974, and in 1989, took G-III public. "Later we looked in places where others weren't. It reinforced the belief I still hold: Opportunity doesn't always announce itself. Sometimes you have to imagine." Goldfarb thanked his family and his wife, Arlene. "We've been together since we're 17. She's been beside me through every chapter. My sounding board, a steady presence, my partner in every sense," he said. Michael Rider, artistic director of Celine, received the Menswear Designer of the Year award. He was honored for his ability to put a modern stamp on a brand whose roots date to 1945. His fashion sweet spot is creating classics with a bite, and his spring men's show in Paris managed to break the mold after years of collections based on very specific silhouettes, themes, subcultures and fashion tribes, according to an introduction video. Rider was presented his award by "Hacks" actress Hannah Einbinder, who said his "magic lies in his ability to always choose the right thing for any particular moment." She said that as he's preparing for his collection, he surrounds himself with "hundreds of images of looks, rails and rails of fabrics and beautiful colors, tables of the most sublime accessories. And then, like the true Sagittarius he is, he becomes an arrow, circling the room, following his heart until he unquestionably lands on the right shoe, the perfect color, the best look every single time." In accepting his award, Rider thanked Arnault and the team at LVMH, Celine's parent, for giving him and his team "the space and the freedom to imagine things and to make them as beautiful as we possibly can and to keep going. I feel like we're just getting started." Remo Ruffini, CEO of Moncler, was presented the award for public company of the year, thanks to the company's ability to preserve its identity, clarity of strategy and creativity while investing in the business with a long-term view, according to the introduction. Actor Adrien Brody, a longtime friend of the brand, presented the award, crediting Ruffini with being an "an extraordinary man who, more than 20 years ago, realized a dream through creativity and vision and transformed Moncler to become the household name and aspirational brand that we know today. This is an award that recognizes a company full of creativity, wonderful talent, but it's guided by one man's passion and his courage and his determination." Ruffini said even though "many people told me it's just a puffer jacket, nothing more, I saw something different." He went on to thank everyone who helped "climb many mountains with me," and joked that he was glad to be receiving the award in New York City, where Moncler just opened its largest flagship in the world. "We just opened a big store and we need support," he said with a laugh. Me+Em, the British luxury and contemporary brand, won the award for Company of the Year, Private. It achieved sales in 2025 of more than $250 million with profits of $32 million. The brand has 11 stores in the United Kingdom and eight in the U.S., with more openings slated for 2027. Samantha Conti, WWD's London bureau chief, presented the award to Clare Hornby, founder and CEO. "I feel so incredibly honored to be receiving this award among so many of our industry's great business and creative minds," said Hornby. She said it was only two years ago that they opened their first two stores almost simultaneously on Madison Avenue and Mercer Street in Soho. "I spent many months prior to this pacing up and down and around the streets at different times of the week, and throughout the seasons, watching the flow of customers until finally I made the leap, but with trepidation, knowing if the stores failed, there wouldn't be a blueprint for future openings and I'd need to eat humble pie and head back to London. So I do not take for granted standing here accepting an award for Private Company of the Year just over two years later," said Hornby. Newsletters

€282 billion evaporates from European luxury companies... and China is at the heart of the crisis Monday, October 26, 2026 Al Arabiya.net: AI-generated summary - Europe's biggest luxury companies have lost about $282 billion in market value since the start of the year due to weak Chinese demand and a decline in luxury spending. - Results from LVMH, Hermès and Kering in October came in below market expectations, reinforcing fears that the sector's downturn will continue for a third year. - LVMH and Hermès bore the largest share of losses, with their market values falling by $147.9 billion and $104.8 billion respectively. - Chinese consumer sales at Kering fell by between 15% and 20% in the third quarter, while fashion and leather goods sales at LVMH fell by a double-digit percentage. - The U.S. market has also begun to show signs of weakness, with luxury spending falling by more than 4% during July, August and September, while the sector is moving to cut costs and improve efficiency. Europe's biggest luxury goods companies have lost about $282 billion (€251 billion) in market value since the start of the year, as demand from Chinese consumers remains weak and appetite for spending on luxury products declines amid global market volatility. Business results from LVMH, Hermès and Kering, the owner of Gucci, in October came in below market expectations, despite prior downgrades, reinforcing fears that the downturn dominating the luxury sector will continue for a third consecutive year. The six largest listed luxury companies in Europe, which also include Richemont, Prada and Moncler, have lost a combined $282 billion (€251 billion) in market value this year. LVMH and Hermès bore the largest share of the losses, with their market values falling by $147.9 billion (€131.6 billion) and $104.8 billion (€93.3 billion) respectively, according to the Financial Times, as reported by Al Arabiya Business. For decades, the Chinese consumer was the main growth engine for the sector, but the prolonged real estate crisis and declining stock markets have weakened domestic spending in recent years. Retail sales growth in the world's second-largest economy also slowed to an average of less than 0.5% per month over the past six months, compared with the same period last year. Bernstein analyst Luca Solca said the recovery luxury companies had been betting on in the Chinese market has been temporarily halted, which was reflected negatively in financial results and share prices and forced companies to reassess their strategies. LVMH, Kering and Hermès recorded a marked deterioration in Chinese demand during the third quarter. Sales in LVMH's fashion and leather goods division to Chinese consumers worldwide fell by a double-digit percentage, according to the company's finance management. The company acknowledged that the slowdown in demand for fashion and leather goods is largely due to lower Chinese spending, with continued uncertainty over when the market will improve. Kering came under greater pressure, as its sales to Chinese consumers fell by between 15% and 20% in the third quarter, a larger decline than in the previous quarter, reflecting continued weak demand for the group's brands, including Gucci, Saint Laurent and Bottega Veneta. Pressure also extended to Hermès, which is usually the most resilient during slowdowns. Sales in the group's ready-to-wear and accessories division fell by 2% worldwide, while management indicated that the decline in Chinese stocks and tighter scrutiny of overseas wealth affected the behavior of wealthy consumers. A new policy imposing a 20% tax on profits and interest from overseas trusts for Chinese residents took effect last week. China's CSI 300 index has also lost about 19% of its value over the past four months, wiping more than $2 trillion (€1.78 trillion) off market capitalization amid concerns about weak domestic consumption and risks of inflated valuations linked to artificial intelligence. Hermès's latest results raised questions among analysts about the extent of the company's dependence on the Chinese market and its exposure to the segment of moderately wealthy consumers seeking social advancement, who have become more affected by economic conditions. Despite the challenges, some luxury categories continued to perform strongly. Sales of Birkin bags and other high-end products at Hermès jumped by 10.8%, while jewelry brands owned by LVMH and Kering, such as Tiffany and Boucheron, recorded double-digit growth in the third quarter. The slowdown was not limited to China. The U.S. market, which supported the sector earlier in the year, has begun to show signs of weakness as stock markets decline and fuel prices rise. Citi credit card data showed luxury spending falling by more than 4% during July, August and September. Companies' ability to confront the downturn varied. While Hermès shoppers in the United States maintained relatively stable spending levels, Kering faced greater pressure because of its greater reliance on middle-class consumers aspiring to own luxury brands. Analysts expect luxury companies to focus in the coming period on cutting costs and improving operational efficiency, in the absence of clear indicators of a rapid recovery in their main markets, while awaiting the return of Chinese and American consumers to previous spending levels.

EXCLUSIVE: Louis Vuitton has appointed a chief brand creative officer. Hector Muelas, who moves over from Tiffany & Co., is to "define and steer" the brand's "creative storytelling across all touch points," according to Vuitton. October 23, 2026, 9:45am Louis Vuitton has appointed Hector Muelas chief brand creative officer, effective Nov. 1, WWD has learned. Vuitton confirmed the hire and said Muelas "will define and steer our creative storytelling across all touch points, thereby ensuring strong overall image consistency." The position is a new one and reports to Damien Bertrand, deputy chief executive officer at Louis Vuitton. Since August 2023, Muelas has served as global chief brand and creative officer at Tiffany & Co., which like Vuitton is part of the luxury group LVMH Moët Hennessy Louis Vuitton. "Leading creative and content execution, he will oversee all brand campaigns, with the art buying team led by Magena Chansarel and the content factory team led by Carole Fuchs joining his organization," Bertrand said in an internal announcement seen by WWD. "In close collaboration with our business units, regions, and creative talents, Hector will further elevate our brand desirability, ensuring the house continues to set the benchmark in cultural resonance, creative boldness, and emotional connection with our clients worldwide," Bertrand added. The announcement lauded Muelas for playing a "transformative role in redefining (Tiffany & Co.'s) creative voice, elevating the brand, and driving its cultural resonance worldwide." "Hector brings over two decades of international experience rooted in culture, storytelling, and brand building," it added. Muelas first joined LVMH in 2015 as Rimowa's global vice president of content and creative, later becoming its chief brand officer, "where he spearheaded the brand's global relaunch and repositioning," according to the announcement. Muelas has also worked at Apple, Vice Media and Canal+, according to his LinkedIn profile. Earlier, he held creative and executive posts at Creative Artists Agency in Los Angeles and Wieden + Kennedy in Amsterdam. Newsletters