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Kering lost 12% in a day, Prada bet on fewer and bigger stores, and Omega finally gave the villains their own watch. Here is what moved in fashion and luxury from Thursday morning to Friday morning, Oct 23, 2026. Every item is checked against its source and linked.
The Money Talk: Prada, Kering and the Bond Street test
Prada: up 15%, but the third quarter cooled
Prada Group’s nine-month net revenues hit €4,541 million, up 15% at constant currency and 4% organic. The third quarter grew 11%, but only 1% organic, and the Americas were the best region. Versace, now inside the group, accounts for the gap between those two numbers. Source: Prada Group 9M release
Prada wants fewer, bigger stores
On Thursday’s call, CEO Andrea Guerra said Prada will close stores in two or three secondary Italian cities in 2027–2028 and question second stores in smaller Chinese cities. “We’re trying to be more prominent in those 10, 12 cities, which make up a great part of the business,” he said. The model is the eight-floor Prada Galleria in Milan, with a museum, private salons and a dinner apartment. Source: Glossy
Kering shares drop 12% in a day
Kering stock fell 12% on Friday after Gucci’s comparable sales slid 6%, and LVMH and Hermès slipped 1% to 1.5%, per Reuters. Kering is sticking with Luca de Meo’s turnaround and now targets 125 store closures by year-end. Aviva Investors’ Harsharan Mann: “you can have the best creativity, but is the consumer going to engage with the product?” Source: BoF / Reuters
The one flagship beating the forecast
Hermès CFO Eric du Halgouët says the new 55-room Maison at 166 New Bond Street in London is outselling expectations without stealing from the brand’s other London stores. “We are not encroaching on the other stores in London and doing better than expected,” he said on Thursday’s call. Gucci unveils its own new store concept on Avenue Montaigne in November. Source: Glossy
Why it matters for LA: Luxury is shrinking its store count and pouring money into a few destination flagships. Rodeo Drive and the Design District are the kind of addresses that survive that cut, and every mall-based luxury door should be nervous.
The Maisons: Corner Office Moves
Calvin Klein hires a product chief from Lacoste
Calvin Klein named Ayub Mohamed chief product officer, starting Jan 25, 2027, overseeing global design and merchandising. He comes from Lacoste, and before that Kenzo, Tory Burch, Givenchy and nearly eight years at Levi’s. The creative director seat for Collection is still open after Veronica Leoni’s exit. Source: PVH / Business Wire
Marc Jacobs gets a new president
Emily George becomes Marc Jacobs’s global president on Nov 1, as CEO Eric Marechalle leaves after nine years. It follows the G-III and WHP Global acquisition, with plans to revive Marc by Marc Jacobs. Marc Jacobs himself stays as creative director. Source: Glossy
Why it matters for LA: Two New York labels are rebuilding from the business side first. Watch for Marc by Marc Jacobs to come back at a price that LA’s younger shoppers can actually reach.
Drops & Luxury Launches
Omega gives Spectre its own Seamaster
Omega’s new Seamaster Diver 300M comes in a James Bond edition and, for the first time, a Spectre edition with an octopus on the rotor. The steel models are RM37,500 in Malaysia. Two collector’s sets pair steel with platinum-gold, at 77 pieces each and RM392,000. Source: Robb Report Malaysia
Yema puts a flying tourbillon on a space watch
Yema’s Spacegraf Heure Sidérale Tourbillon Volant is limited to 150 pieces at €14,500. It’s a space-themed watch with a flying tourbillon, at a price well under most tourbillons we cover. The listing ran as a sponsored post, so treat the pitch as the brand’s own. Source: aBlogtoWatch
Puma x Jil Sander is live now
The first Puma x Jil Sander apparel went on sale Friday at 1 PM CEST, which was 4 AM PT, on jilsander.com and puma.com. Select stockists get it from Oct 24. If you wanted the wool T7 track jacket, the window is already open. Source: Jil Sander
Why it matters for LA: A Spectre watch is made for a Hollywood premiere wrist. The Puma drop timing means LA buyers got first crack before Europe’s lunch crowd.
Fashion x Superintelligence
Dubai’s Apparel Group launches AIVI
Apparel Group, which runs 2,600-plus stores and 85-plus brands across 14 countries, launched AIVI, a shopping app with conversational recommendations and virtual try-on. The company says it offers more than 200,000 styles and delivery in as little as 60 minutes. These are the company’s own claims from its press release. Source: GlobeNewswire
Musinsa Lens: shop the photo
Korean fashion platform Musinsa launches Musinsa Lens on Oct 28, which finds identical or similar items from a photo you upload. Rival W Concept is testing image search inside its shopping assistant, and Zigzag says image-search product clicks rose about 70%. Source: Seoul Economic Daily
Why it matters for LA: Search by photo is the next fight. Any LA boutique with clean product photos is ready for it, and any without them will be invisible.
Runway Magazine Watch
Nothing new in the window; Dior’s LACMA campaign still leads
Runway Magazine published no new story we could date inside the last 24 hours. Its newest lead, published Oct 21, covers Dior’s Cruise 2027 campaign shot at LACMA by Sam Rock, with Jennifer Lawrence, Greta Lee, Taylor Russell and Drew Starkey. The magazine calls it “a study in high-concept self-awareness.” Source: Runway Magazine
Why it matters for LA: LACMA as a Dior soundstage is free marketing for the museum and for Wilshire.
Tips
Spotted a drop, a store closing or a new flagship opening in LA? Send it with a photo and a time stamp. We verify before we print. editor@nightlifereport.app
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