Between spectacular appearances at the Met Gala, declining consumer values and new bankruptcies, there was a lot going on in the fashion industry this week.
While Zalando was able to make significant gains thanks to the takeover of About You, companies such as Olymp and Hugo Boss reported declining results. At the same time, Iris van Herpen was the talk of the town with a sculptural bubble dress and Zara had a prominent presence on the Met Gala red carpet. The situation also remained tense in retail: the consumer climate deteriorated again and Verdi called on employees in Hamburg to go on a warning strike.
Business
The economic situation in the industry remains tense. Hugo Boss suffered a significant drop in profits in the first quarter, while the Olymp Group reported falling sales for 2025. Mister Spex also recorded declining revenues, but was able to reduce its quarterly loss. Zalando, on the other hand, benefited from the takeover of About You and significantly increased quarterly sales. Bugatti Holding Brinkmann also closed the financial year with an increase in sales despite difficult market conditions.
At the same time, consolidation in the market continued. A new owner was found for Adolf Riedl’s swimwear brands after bankruptcy. The development at Marc Aurel, where bankruptcy was filed, was less positive. Strategic questions were also the focus of Clinton’s wholesale brand portfolio: While Camp David and Gaastra are in focus, the future of Harlem Soul remains open.
Labor disputes and legal disputes also dominated the week. Unions called for strikes at Kering and protested against austerity measures. A court also confirmed the fine against Ahlers for competition violations.
fashion
The Met Gala once again delivered some of the most eye-catching fashion moments of the year. Iris van Herpen received a lot of attention with a futuristic bubble dress from her “Airo” collection. Zara also successfully used the event as a stage and placed several looks on the red carpet.
In addition, materials and new career paths came into focus. The haptic coats trend report for fall/winter 2026 showed the growing importance of tactile surfaces and voluminous silhouettes. At the same time, a comment about late careers in the fashion industry highlighted why founders who start their careers later are increasingly seen as particularly resilient.
Personal details
Several companies reorganized their management structures. Canali appointed Alessio Lillocci as creative director, while Belstaff announced the departure of managing director Kerry Byrne. Tom Tailor also reorganized its sales and adjusted the management structure.
retail
Consumer sentiment in German retail continued to deteriorate. According to the current report by the German Trade Association, the consumer climate fell again in May, which underlines the reluctance of many consumers. At the same time, Verdi called on Hamburg retail workers to go on a warning strike.
Companies responded with new sales strategies and experience concepts. After the successful wholesale comeback, Steilmann expanded its sales structures. At the same time, Dior in China focused on staging and immersive customer experiences with an extraordinary pop-up concept.