This week, as London and Milan’s designers put forth their latest menswear offerings for Spring 2024, the fashion news cycle continued to spur excitement around this month’s fashion weeks. Among the notable headlines, Rihanna starred in Pharrell’s first
Off the runway, the headlines veered a bit downhill. For one, Supreme reported decreased revenue of $523.1 million USD in the financial year ending March 2023, falling short of VF Corp’s $600 million USD target. Meanwhile, Rhuigi Villaseñor, the designer behind Rhude, was accused of stealing the company’s funds to finance his “lavish lifestyle,” according to a new federal lawsuit.
Below, Hypebeast has rounded up the top fashion stories of the week so you can stay up to date on trends in the industry.
Rihanna Starred in Pharrell’s First Louis Vuitton Campaign
Ahead of Pharrell’s official debut at the helm of Louis Vuitton, the menswear artistic director dropped off his very first campaign for the French Maison, starring Rihanna.
On Instagram, Pharrell shared an image of himself standing in the foreground of a gargantuan billboard suspended on a building in Paris, alongside the caption, “LOUIS VUITTON MEN Spring-Summer 2024.” In the campaign, Rihanna puts her baby bump front and center while carrying an array of LV’s signature keepall accessories.
Pharrell will debut his inaugural collection for Louis Vuitton on June 20 during Paris Fashion Week Men’s.
Supreme Reported Decreased Revenue in the Financial Year Ending March 2023
In the fiscal year ending March 2023, Supreme reported revenues of $523.1 million USD, marking a $38.4 million USD decrease from the same figure for the year prior, according to parent company VF Corp’s report.
Rhuigi Villaseñor Stole Rhude Company Funds to Support His “Lavish Lifestyle,” According to New Federal Lawsuit
Rhuigi Villaseñor, the designer behind the luxury Los Angeles-based streetwear label Rhude, is facing accusations of stealing company funds to support his own “lavish lifestyle” in a federal lawsuit, according to the Los Angeles Times.
Filed by George Robertson, an owner of a 20% stake in the Rhude brand, the lawsuit alleges that Villaseñor “has been pilfering the Rhude Companies’ coffers” to front his expensive bills, including those for “private jet travel, Italian vacations, Ferraris, Lamborghinis and a collection of $100,000 watches,” per the outlet.
Robertson, who is looking for compensation and the removal of Villaseñor’s executive power at Rhude Companies, also alleges in the suit that the designer raked in yearly revenues of more than $30 million USD. But while the brand’s sales tallied eight figures, Robertson, as a co-owner, claims he has received annual distributions as low as $41,000 USD from Villaseñor. Further, Robertson alleges that Villaseñor would conceal sales by routinely selling Rhude’s goods to VIP clients in private sales and keeping the profits for himself.
Jacquemus Will Hold Its Next Show at the Palace of Versailles
Jacquemus announced earlier this week that its next runway show will take place at the Palace of Versailles.
Being able to do a show in Versailles has always been a childhood dream,” Simon Porte Jacquemus told WWD. “I was so inspired by this historical place during the design process that it led me to explore many new creative possibilities, different from my past shows, but still very Jacquemus. I am really honored and proud to be able to do a show there, as an independent fashion house. It’s going to be a very special moment for Jacquemus.”
In addition to unveiling the latest collection, the forthcoming show will serve as a next step in the brand’s shifting strategy to expand its international retail arm. “The aim is to create, in the collective unconscious, increasingly strong luxury brand signifiers around Jacquemus,” said Jacquemus’ chief executive officer, Bastien Daguzan.
Jacquemus’ Palace of Versailles show will take place on June 26.
Daniel W. Fletcher To Step Down as Fiorucci’s Creative Director
Daniel W. Fletcher will exit his role as Fiorucci’s menswear artistic director at the end of June, according to WWD.