Fashion
Japan’s Soshi Otsuki wins LVMH Prize 2025
Published
September 3, 2025
And the winner is from Japan: Soshi Otsuki, an exciting new talent in menswear, was awarded the LVMH Prize for 2025 on Wednesday at a packed ceremony at the Louis Vuitton Foundation in Paris.
One of the richest individual awards in fashion — with first prize garnering €300,000 — the LVMH Prize celebrated its 12th year this season.
“Thank you to the jury, to Delphine Arnault, to LVMH and to everyone… I am very honored,” a shy Otsuki murmured into the microphone on the main stand.
In a pre-prize video, Otsuki explained: “I launched Soshiotsuki in 2015, blending Japanese tradition with modern craftsmanship. Interpreting the DNA of Japanese heritage from a unique perspective. Blending precision, with emotion, to craft modern silhouettes.”
The jury, composed principally of LVMH designers — such as Phoebe Philo, Pharrell Williams, Sarah Burton, Jonathan Anderson, Nicolas Ghesquière and Silvia Fendi — and including executives like Sidney Toledano and the originator of the award, Dior CEO Delphine Arnault, also chose two other award winners.
The jury presented the Karl Lagerfeld Prize to Steve O Smith, a UK-born talent noted for his brilliant ink-on-paper sketches that he transports into willowy, graphic and romantic dresses — winning Smith a check for €150,000 for the adjoining Karl Lagerfeld Prize.
Meanwhile, the third award — the Savoir-Faire Prize — went to another British creator, Torishéju Dumi, who presented women’s and men’s collections defined by dynamic, edgy grandeur. The Savoir-Faire Prize was created to recognize excellence in craftsmanship, technical innovation and the sustainable approach of the selected brands.
Previous LVMH Prize finalists have included Jacquemus, Demna, and Rachel Scott, the designer of New York brand Diotima, who was named creative director of Proenza Schouler yesterday.
The winner was selected from eight finalists chosen from a group of 20 semi-finalists who participated in the LVMH Young Fashion Creators Award, presenting their ideas on March 5 and 6 in Paris. A first jury of around 80 experts — including editors, stylists, models, and movie stars — whittled the initial 20 down to eight.
The other five finalists were French designer Alain Paul, who showed women’s, men’s and unisex collections in inventive sculptural forms; All-In, by the duo of Benjamin Barron from the U.S. and Bror August Vestbø from Norway, who presented women’s and unisex collections featuring a fabulous frou-frou gown accessorized with giant pearl necklaces;
Zomer by Danial Aitouganov, a Dutch talent whose women’s shows in Paris have been highly acclaimed for several seasons; from Italy came Francesco Murano, a highly skillful draper; and London-based talent Tolu Coker, with a blend of African iconography and prints coupled with bravura cutting and tailoring.
Copyright © 2025 FashionNetwork.com All rights reserved.
Translated by
Nazia BIBI KEENOO
Published
September 3, 2025
Claire’s France, the French subsidiary of U.S. accessories retailer Claire’s, was placed in receivership by the Paris Commercial Court on July 24. At a time when its parent company is facing global financial pressure, it has announced its intent to withdraw from the French market. While a call for tenders was launched to seek potential buyers, the French staff’s social and economic committee (CSE), with support from the CFDT and CFE-CGC unions, filed a complaint with the French National Financial Prosecutor’s Office (PNF) on September 3. The complaint accuses the group of “serious irregularities in the management of the company”, citing what they describe as “artificial insolvency” and “opaque intra-group financial flows”.
In a letter addressed to the PNF and the public prosecutor, reviewed by FashionNetwork.com, the staff representatives alert authorities to a situation they believe could “characterize several economic and financial offenses within the framework of the receivership procedure.” More than 1,000 employees across 250 stores are now facing redundancy, even though Claire’s France had posted a net profit of €1.3 million just a year prior. The complaint argues that “no exceptional event justifies the transition from profitability to a declaration of cessation of payments in less than six months.”
The CSE’s lawyers allege suspicious financial activity, pointing to intra-group cash transfers that “rapidly and inexplicably drained” the French subsidiary’s funds. These transactions, they state, were executed by Claire’s group—whose parent company is based in the United States—without transparency or proper documentation, and “to the detriment of the French subsidiary’s social and financial interests.”
According to the legal filing, the pace and opacity of the transfers raise concerns about whether written agreements between subsidiaries even exist. The document also questions the French entity’s compliance with tax reporting obligations, suggesting possible “tax evasion organized by the Claire’s group, which two American pension funds control.” The lawyers claim that the group “literally emptied the coffers” of the French unit, without presenting any evidence of transfer pricing agreements or intra-group support mechanisms.
French law requires companies undergoing receivership to provide employee representatives with documentation outlining the causes of financial distress. However, the CSE claims it has not received the file submitted to the commercial court, nor the full financial details necessary to verify the company’s insolvency claims.
The complaint also highlights Claire’s complex capital structure. Claire’s France is owned entirely by Claire’s UK, which is in turn owned by the Swiss subsidiary. The Swiss company is controlled by Claire’s Holding (Luxembourg), itself owned by a company based in Gibraltar. The lawyers argue that “this layered structure, combined with opaque intra-group financial flows, enables fund transfers out of France without contractual justification and creates the conditions for artificial insolvency.”
The National Financial Prosecutor’s Office has jurisdiction over complex financial crimes, including misappropriation of corporate assets, fraudulent bankruptcy, breach of trust, and aggravated tax fraud.
In the retail sector, a similar case surfaced in April 2023, when a judicial investigation was launched into Financière Immobilière Bordelaise and its owner, Michel Ohayon—the buyer of Camaïeu and Go Sport—for the misuse of corporate assets, bankruptcy, aggravated fraud, and organized money laundering.
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Copyright © 2025 FashionNetwork.com All rights reserved.
Industry bodies have long demanded that the entire textile value chain be brought under the lowest 5 per cent rate to avoid inverted duty structures. They also urged the Council to refrain from imposing an 18 per cent tax on garments priced above ₹2,500, as recently speculated, warning that such a move could hurt categories like branded garments, winter wear, and ethnic wedding attire.
The Southern India Mills’ Association (SIMA), along with other trade bodies and export promotion councils, has specifically demanded that the entire man-made fibre (MMF) value chain be taxed at 5 per cent, on par with the cotton chain. This request was raised directly with Union Finance Minister Nirmala Sitharaman during an interaction in Chennai on September 2, 2025, attended by representatives of all major textile associations and export councils. A uniform GST, they argued, would resolve inverted duty issues, refund accumulated capital goods GST credit, and improve liquidity.
Indian textile and apparel industry is urging the GST Council to adopt a uniform 5 per cent rate across the value chain to avoid inverted duty structures.
Ahead of the 56th Council meeting, SIMA and CMAI have warned that a proposed 18 per cent levy on garments priced above ₹2,500 would hurt winter wear, wedding attire, and artisan-made clothing.
SIMA chairman Dr S K Sundaraman thanked the Finance Minister for engaging with industry representatives and recognising the unprecedented challenges faced by the sector due to US tariffs. He said the minister indicated that a major revamp of GST rates and systems is likely, paving the way for historic tax reforms that will ease business operations and enhance global competitiveness. Sundaraman also noted that Sitharaman has shown willingness to address inverted duty structures to ensure GST does not escalate costs for consumers.
The Clothing Manufacturers Association of India (CMAI) also called on the Council to avoid price-based taxation, cautioning against raising the GST rate on garments above ₹2,500 from 12 per cent to 18 per cent.
According to CMAI, such a move would severely affect middle-class consumers and the organised garment manufacturing sector, which is already struggling due to tariff wars. It stressed that higher-priced garments are not necessarily luxury items, but often costlier due to raw material prices, artisan handwork, and production complexity.
For instance, most woollen garments essential for middle-class consumers across North, North-East, and East India are priced between ₹3,500 and ₹7,000. Similarly, wedding wear typically ranges from ₹10,000 to ₹15,000, while artisan-made clothing commands higher prices due to the time and craftsmanship involved. Subjecting these categories to an 18 per cent GST would, CMAI argued, devastate purpose-specific clothing segments.
CMAI has urged the Prime Minister to intervene, emphasising that the garment industry is the backbone of India’s textile heritage and a vital source of employment for millions—particularly women, semi-skilled, and unskilled workers.
Fibre2Fashion News Desk (KUL)
Stifel’s survey reveals an unprecedented breadth of choice between style categories and brands and suggests that Nike is losing a few steps with consumers.
US retailers referenced Nike shoes as most popular in 38.2 per cent of checks in Stifel’s Back to School sneaker survey—a 23.2-pps YoY drop versus 2024 and an all-time low dating back to the survey’s beginning in 2008.
Though Nike is losing a few steps with consumers, its popularity rose in top e-commerce sellers.
There’s a broadening landscape of shoe popularity across brands, styles and price points.
Nike’s popularity, however, increased in top e-commerce sellers. On retailer websites, Nike and Jordan products represented 46 per cent of top 20 styles.
There’s a broadening landscape of shoe popularity across brands, styles and price points, it noted.
“We see a more fragmented and dynamic footwear landscape with diversifying preference across brands, style categories, and price points,” a release from Stifel said.
New Balance’s brand momentum continues, led by favourable style trends while Adidas also jumped by more than 10 points in popularity YoY.
New Balance is gaining the most share, benefitting from style preference shift to Retro Runners. Similarly, continued relevance of the Terrace Style trend drove Adidas popularity references, led by the Adidas Samba and lookalike products.
Saucony, a Wolverine World Wide brand received its first-ever BTS survey mentions, demonstrating traction in new distribution.
Consumers have yet to push back on price, and Stifel observed only modest like-for-like price increases versus prior checks.
Fibre2Fashion News Desk (DS)
What’s in store for the Commanders’ encore? Ask our reporters.
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