By Mimosa Spencer
Paris (Multibagger) - Fashion designer Hedi Slimane has left LVMH's Celine brand, the company announced on Wednesday, sparking speculation about the future of the fashion industry amidst a sales downturn.
LVMH has appointed Michael Rider as Slimane's successor, who will take over early next year. Rider previously worked with former Celine designer Phoebe Philo for over a decade.
According to Luca Solca, an analyst with Bernstein, creative directors often leave when their impact on sales diminishes. Slimane's exit may signal a new era for Celine, as he is credited with significantly increasing brand revenue during his tenure.
Slimane's departure is part of a wider trend in the industry, with other high-profile designers making moves to different brands. The future of creative direction at top fashion houses like Chanel remains uncertain.
As a renowned figure in the fashion world, Slimane's departure will have ripple effects across the industry. His unique aesthetic and business acumen have shaped Celine's identity and success in recent years.
Overall, this shift in leadership at Celine could have implications for the brand's growth trajectory and market positioning. Investors and fashion enthusiasts alike should pay close attention to how this story unfolds in the coming months.