The Fashion System Is Creaking. Will It Collapse?

LONDON — Lately, something has not been feeling quite right in luxury fashion. First Kering, and now LVMH and Chanel, seem to be creeping into crisis management mode.

As has been well documented, Sabato De Sarno’s creative directorship at all-important Gucci has not yet ignited industry interest. Meanwhile, customers haven’t had the opportunity to see much new product in store, hobbling Kering’s post-Covid performance. None of the…