The biggest headline of late 2025 isn’t a hemline—it’s the boardroom. In a move that has left editors and buyers reeling, we have witnessed an unprecedented changing of the guard at the top of the luxury pyramid.

The Dior Shake-Up The most earth-shattering news is Jonathan Anderson’s appointment at Dior. After redefining modern luxury at Loewe, Anderson has taken the reins in Paris. His mandate? To merge the separate worlds of Menswear, Womenswear, and Couture under a single, unified creative vision. Early reports suggest his debut collection will strip back the theatricality of recent years in favor of a sharper, more architectural silhouette—a direct response to the “fatigue of excess” consumers are feeling.

Fendi’s Homecoming Meanwhile, Maria Grazia Chiuri has made a stunning return to Fendi as Chief Creative Officer. Having spent a decade there in the 90s (where she co-created the legendary Baguette bag), this is being hailed as a “homecoming of heritage.” With Silvia Venturini Fendi transitioning to an Honorary President role, Chiuri is expected to inject a feminist, artisanal narrative into the Roman house, moving it away from logomania and back to high-craft leatherwork.

History at Hermès Perhaps the most culturally significant appointment is Grace Wales Bonner as the new Menswear Creative Director at Hermès. Replacing Véronique Nichanian after her monumental 37-year tenure, Wales Bonner becomes the first Black woman to lead a division at the French house. Known for her soulful, research-driven approach to tailoring, her appointment signals that Hermès is ready to open a dialogue between its equestrian heritage and a broader, global cultural history.

The Revolving Door Not all moves have been smooth. Dario Vitale’s exit from Versace after just one season has exposed the brutal volatility of the current market. It serves as a stark warning: in late 2025, shareholders have zero patience for creative visions that don’t immediately translate to sales.