Fendi Croissant Bag returns

The fashion calendar this week is still catching its breath after the Victoria’s Secret Fashion Show’s return to Los Angeles (October 18), where the brand leaned hard into spectacle.  Kylie Jenner made her runway debut in the new $50 million Fantasy Bra—crafted by Jacob & Co. with 4,410 natural diamonds surrounding a 75.54-carat Fancy Vivid yellow diamond centerpiece—the most expensive in the tradition’s history and the first time a non-Angel has worn it since its last appearance in 2018.  The show mixed seasonal themes (florals, metallics, snowflakes) with familiar Angels and performers, underscoring the brand’s bid to reclaim cultural heat after years of criticism.

On the business side, luxury’s softer reality is more visible. Hermès reported third-quarter sales of €4.1 billion, up 4.3% at constant exchange rates—below expectations and its slowest growth since early 2020.  Asia-Pacific excluding Japan was flat, dragged by weaker Chinese demand; leather goods (Birkins, Kellys) rose a healthy 10.8%, while ready-to-wear and accessories fell 2%.  The results echo LVMH’s earlier cautious update and highlight ongoing pressure in key Asian markets even for the industry’s most resilient houses. Hermès shares are down roughly 36% year-to-date.

Closer to the ground, Fendi’s reimagined Croissant bag—Maria Grazia Chiuri’s Cruise 2027 take on the 1999 crescent-shaped icon—hits boutiques today (it launched online October 16).  Versions range from cracked leather and animal prints with fringe to sequins and FF jacquard, priced as accessible entry points into the house’s playful codes.

Elsewhere, Riga Fashion Week is underway through October 24 with Baltic-focused runway programming, while recent creative exits (Anthony Vaccarello at Saint Laurent, Seán McGirr at Alexander McQueen, Veronica Leoni at Calvin Klein Collection) continue to reshape house leadership.  On the trend side, fall collections have emphasized subversion—satin for day, plaid for evening, lowered waists, and mix-and-match separates—signaling a season less about rigid looks and more about personal recombination.

In short: high-gloss runway moments and heritage-product revivals are still drawing attention, but the underlying luxury numbers show caution, particularly in China.