The Seismic Shift: Why Paris and Milan Fashion Weeks Marked a New Era in Luxury Fashion

The Spring/Summer 2026 shows in Milan and Paris weren’t just another season of runway spectacles—they marked one of the most significant periods of creative evolution the luxury fashion industry has seen in decades. As part of a fashion buying advisory team at DeZiem Advisors, based in Paris, observing these shifts from the heart of European fashion while analyzing their ripple effects across both domestic and international markets, I can confidently say: we’re witnessing a complete recalibration of the global luxury landscape.

The Great Creative Migration

The concentration of creative director changes at heritage houses has been unprecedented. Bottega Veneta, Balenciaga, Chanel, Dior, and Loewe—names that collectively represent billions in revenue and set the aesthetic tone for the entire industry—have all undergone or are undergoing leadership transitions that will fundamentally reshape their creative identities.

Bottega Veneta's New Chapter: Louise Trotter Makes History

Louise Trotter's appointment at Bottega Veneta represents both a creative evolution for the house and a significant milestone for the industry. As the first woman to lead the storied Italian brand in its modern era, Trotter brings a perspective that's been notably absent from the highest echelons of luxury fashion leadership during this wave of appointments.

What makes Trotter's appointment particularly compelling from a buying standpoint is her proven track record. Her tenure at Carven and Joseph demonstrated an intuitive understanding of how women actually want to dress—balancing aspiration with wearability, luxury with livability. For a house like Bottega Veneta, which has built its contemporary identity on understated sophistication and artisanal craft, Trotter's sensibility feels like a natural evolution rather than a disruptive pivot.

Her fashion week debut was nothing short of a revelation. I'll be honest—I loved what Trotter did. She didn't try to replicate what came before, nor did she overcorrect. Instead, she brought a refined restraint that honored Bottega's intrecciato heritage while infusing it with a distinctly modern femininity that felt completely fresh. The collection demonstrated her ability to design clothes that feel both luxurious and lived-in—a difficult balance that has defined her career. Where Daniel Lee brought architectural drama, Trotter is carving out her own path: elegant pragmatism with an intellectual edge and a real understanding of desirability.

Watching her reinvention of Bottega from the front row, I was struck by how she managed to make the house feel simultaneously familiar and completely new. The bags were instant classics—recognizably Bottega but unmistakably Trotter. The tailoring had an ease that spoke to how women actually move through their lives. This wasn't fashion as performance; it was fashion as partnership.

For buyers, this means recalibrating our understanding of what "quiet luxury" means in 2025, now filtered through a distinctly female lens. Trotter understands proportion, fabric, and construction in a way that translates to pieces women actually want to invest in—not just photograph for Instagram. Her focus on wearability doesn't mean boring; it means intelligent design that respects how women move through their lives.

From a market perspective, Trotter's appointment is one to watch closely. In an industry where female creative directors have consistently delivered both critical acclaim and commercial success—think Phoebe Philo at Céline, Miuccia Prada, or Nadège Vanhee-Cybulski at Hermès—there's reason for optimism. Women designing for women often creates an intuitive connection that translates directly to customer loyalty and sell-through rates. Early feedback from buyers indicates strong interest in her vision, particularly in the accessories category where Bottega has historically excelled.

The fact that Trotter is the only woman among this cohort of major creative director appointments shouldn't be overlooked. In an industry built on designing primarily for women, this gender imbalance raises important questions about perspective, authenticity, and who gets to shape the narrative of contemporary luxury. Trotter's success at Bottega could potentially open doors for more female creative leadership at heritage houses—something the industry desperately needs.

Balenciaga's Renaissance: Pierpaolo Piccioli Takes the Helm

Pierpaolo Piccioli's appointment at Balenciaga is perhaps the most intriguing creative match-up in this entire reshuffle. After his celebrated tenure at Valentino, where he created some of the most romantic and technically accomplished couture of the past decade, Piccioli now faces the challenge of redefining Balenciaga—a house that has undergone significant transformation and needed a steady, visionary hand.

From a buying perspective, this appointment signals a return to craft, sophistication, and possibly a softer, more elegant interpretation of Balenciaga's avant-garde heritage. Piccioli's mastery of color, his understanding of volume, and his deep respect for couture technique could breathe new life into Cristóbal Balenciaga's legacy while moving the house forward into a new era.

As someone who advises clients on both French and international market positioning, I'm watching closely to see how this affects wholesale orders, retail performance, and most importantly, brand perception. Piccioli brings credibility and craft—two things that could help stabilize and elevate the brand during this transitional moment. The question buyers are asking: Can Piccioli maintain Balenciaga's cultural relevance while restoring its reputation for uncompromising quality and elegance?

Chanel's Monumental Transition: Matthieu Blazy's Ascension

If there's one appointment that has sent shockwaves through the entire luxury ecosystem, it's Matthieu Blazy at Chanel. This is the most scrutinized creative director appointment in modern fashion history. We're talking about a house that generates over $17 billion annually—any creative shift here reverberates through the entire industry, affecting everything from supply chains to retail strategies worldwide.

Blazy's move from Bottega Veneta to Chanel is a masterstroke by the Wertheimer family. His tenure at Bottega demonstrated an extraordinary ability to honor heritage while creating genuinely covetable, commercially successful collections rooted in artisanal craft. He didn't chase trends; he set them through quiet confidence and impeccable execution. These are precisely the qualities Chanel needs as it navigates life after Karl Lagerfeld and Virginie Viard.

Let me be clear: Blazy's Chanel debut was mind-blowing. I've been covering fashion weeks for years, and this was one of those rare moments where you can feel the paradigm shift happening in real time. He managed to honor every sacred code of Chanel—the tweed, the camellia, the chain, the pearls—while making it feel utterly contemporary and urgent. There was a softness and sensuality that Chanel hasn't had in years, combined with the material intelligence that made his Bottega work so compelling.

What struck me most was how he understood the assignment without being paralyzed by it. The pressure on Blazy is immense—Chanel isn't just a fashion house, it's a cultural institution—but he approached it with both reverence and confidence. The show felt like a love letter to Gabrielle Chanel's original vision: clothes that liberate women, executed with impeccable craft, designed to be lived in and loved.

From a buying perspective, this was exactly what we needed to see. Blazy's aesthetic at Bottega was defined by textural richness, architectural softness, and an almost scholarly approach to materials and construction. At Chanel, he translated these sensibilities into something that felt both respectful and revolutionary. The tension between Blazy's sensibility and Chanel's iconography didn't just work—it created magic.

As a Paris-based advisor, I'm having daily conversations with buyers, retailers, and investors who left that show convinced that Chanel has entered a new golden era. The questions remain—Will Blazy maintain Chanel's commercial juggernaut status? How will the broader market respond beyond the fashion cognoscenti?—but the creative direction is undeniably brilliant.

Early indications suggest strong market confidence. Retail partners who were hedging their bets before the show are now increasing their Chanel allocations. The buzz among buyers is unlike anything I've witnessed in recent seasons. This isn't just about a successful debut; it's about Chanel reclaiming its position as fashion's ultimate creative and commercial force.

Dior's Bold New Direction: Jonathan Anderson

Jonathan Anderson's move to Dior is arguably one of the most significant appointments in this entire reshuffling. After transforming Loewe into one of the most creatively relevant and commercially successful houses in the LVMH portfolio over more than a decade, Anderson now takes on the challenge of reimagining Dior for a new generation.

I'll be honest—Anderson's Dior debut didn't personally resonate with me in the way I expected. Perhaps my expectations were too high given his extraordinary track record at Loewe. There were brilliant moments, certainly, but the collection felt like a designer still finding his footing with a new vocabulary, working through what Dior means to him. That said, this is Jonathan Anderson we're talking about—a designer who has proven time and again that he can balance artistic vision with commercial viability.

My personal response aside, I'm expecting Anderson's Dior to be incredibly strong commercially. His ability to create desire through craft, storytelling, and cultural relevance rather than just logo-driven marketing makes him perfectly suited for Dior, a house that has always been about both innovation and elegance. Anderson's intellectual approach to fashion, his museum-quality collaborations, and his deep understanding of how to build a brand universe make him uniquely qualified to steward one of fashion's most important houses.

What I saw in that first collection was a designer thinking deeply about Dior's codes—sometimes maybe too deeply—but I'd rather watch a brilliant mind wrestling with important questions than see easy answers. Anderson has proven at Loewe that he honors heritage while pushing boundaries. He built Loewe into a creative powerhouse over more than a decade, and that kind of vision doesn't disappear overnight.

For advisors like myself working across European and international markets, Anderson's appointment signals that Dior is serious about maintaining its position as a creative leader, not just a commercial juggernaut. The market has responded positively—buyers are giving Anderson the grace period he deserves, betting on his proven track record rather than judging him solely on his first outing. I expect his vision to crystallize and sharpen over the coming seasons, and when it does, Dior will be in an incredibly strong position.

Loewe's New American Vision: Lazaro Hernandez and Jack McCollough

The appointment of Lazaro Hernandez and Jack McCollough—the duo behind Proenza Schouler—at Loewe represents a fascinating transatlantic exchange and one of the boldest moves in LVMH's recent history. After building their own critically acclaimed brand in New York for over two decades, they now inherit one of the most artistically respected houses in luxury fashion, one that Anderson spent over a decade meticulously cultivating into a creative powerhouse.

This is a high-stakes transition. Anderson didn't just design clothes at Loewe—he built an entire aesthetic universe rooted in craft, Spanish heritage, contemporary art, and intellectual rigor. The house became synonymous with his vision. The Proenza Schouler designers bring their own sensibility: American pragmatism meets downtown cool, with a strong understanding of what sophisticated women actually want to wear, grounded in exceptional technical skill and a love of luxurious materials.

From a buying advisory standpoint, this appointment raises important questions. Can Hernandez and McCollough maintain the craft-focused, art-adjacent positioning that made Loewe so distinctive? Will they lean into their own New York aesthetic, or will they adapt to Loewe's European codes? And most critically for buyers: will the customer who fell in love with Anderson's Loewe follow the designers into this new chapter, or will they follow Anderson to Dior?

The early market signals suggest cautious optimism. Proenza Schouler has a loyal following among American buyers and retailers, which could help Loewe expand its presence in the U.S. market. However, European buyers—particularly in Paris, where I'm based—are watching carefully to ensure the house doesn't lose its distinctive Spanish-craft identity in pursuit of broader commercial appeal. The duo's first collection will be crucial in establishing whether they can honor Loewe's heritage while bringing their own voice to the house.

Milan's Moment: Versace's Cool Factor

While much of the attention has been on Paris and these major creative transitions, Milan delivered its own standout moment. Versace looked so cool this season—a reminder that sometimes the houses that aren't undergoing seismic creative shifts can surprise you the most. There was an energy and confidence in the collection that felt refreshing, particularly in a season dominated by debut anxiety and transition narratives.

In my advisory work, I'm always watching for these moments where a house hits its stride, finding the sweet spot between heritage codes and contemporary relevance. Versace's show was a masterclass in brand confidence, and it served as an important reminder that creative continuity, when executed well, can be just as impactful as headline-grabbing appointments. For buyers allocating budgets across Italian and French houses, Versace's strong showing represents an opportunity that might get overlooked amid all the Paris excitement.

What This Means for the Luxury Market

From my vantage point at www.deziemadvisors.com, working with clients across both domestic French and international markets, these creative director changes translate into tangible business implications:

Inventory Risk Management: Transition collections are notoriously difficult to forecast. Buyers are hedging their bets, often reducing initial orders until a creative director's vision crystallizes. With this many major transitions happening simultaneously—including the biggest appointment in fashion at Chanel—risk management has never been more critical. That said, Blazy's stunning debut has reduced perceived risk around Chanel significantly.

Brand Value Fluctuations: I've seen heritage brand equity fluctuate by 20-30% during creative transitions. The market is particularly sensitive right now because so many changes are happening simultaneously across competing houses. Chanel's valuation alone makes this the most financially significant creative transition in luxury history, and early market response suggests the brand equity is strengthening rather than destabilizing.

Consumer Behavior Shifts: Luxury consumers are increasingly sophisticated. They're not just buying logos—they're buying into creative narratives and the designers behind them. When those narratives change, purchasing patterns follow. The "Blazy effect" will be fascinating to watch—will his Bottega devotees follow him to Chanel? My sense is yes, and Chanel will also attract an entirely new customer who appreciates his craft-focused approach. Similarly, the "Anderson effect" will test whether his loyal customers migrate from Loewe to Dior, though his debut suggests this transition may take longer than LVMH might hope.

Wholesale Relationship Dynamics: Multi-brand retailers are renegotiating their relationships with these houses, seeking better terms during uncertain periods or doubling down on emerging creative visions they believe in. Retailers who traditionally carried strong Loewe businesses are now evaluating their Dior allocation strategies, while every Chanel retail partner is reassessing their relationship with the house—mostly in the direction of increased commitment after that debut.

The Craft Renaissance: Between Blazy's artisanal approach at Chanel, Piccioli's couture expertise at Balenciaga, and Trotter's focus on intelligent construction at Bottega, we're seeing a marked shift toward craft and quality over hype and spectacle. This could reshape luxury retail priorities for the next decade.

The Paris Perspective

Living and working in Paris during this transformative moment offers unique insights. The city's fashion community—from the ateliers in the Marais to the buying offices near Place Vendôme—is buzzing with speculation, analysis, and strategic recalibration. Every appointment at Café de Flore seems to involve someone debating the implications of these changes.

Blazy's appointment at Chanel has dominated every conversation, and after that debut, the mood is almost euphoric. As someone based here, I can tell you that Paris sees this as a pivotal moment not just for Chanel, but for French fashion itself. The city is preparing for what could be one of the most important creative eras in the house's history. People are using words like "renaissance" and "revolution" in the same breath—that's how strong the reaction has been.

Anderson's appointment at Dior has generated more measured enthusiasm. Parisians appreciate his intellectual approach to fashion and his respect for craft—qualities that align with French fashion values—but there's a collective sense that we're waiting to see his vision fully form. The bet is still on Anderson long-term, but patience will be required.

Meanwhile, there's genuine curiosity about how the Proenza Schouler duo will interpret Spanish leather craft and artisanal techniques through their American lens. The question on everyone's minds: Can New York cool translate to Spanish sophistication?

Louise Trotter's Bottega Veneta debut has generated genuine excitement beyond the typical measured Parisian enthusiasm. Her reinvention of the house felt fresh, confident, and commercially smart—all qualities that resonate strongly here.

Paris remains the center of the luxury universe, but even here, we're acknowledging that the old rules are being rewritten. The traditionally insular French fashion establishment is being challenged by global perspectives, new definitions of luxury, and consumers who expect brands to reflect their values.

Looking Ahead: Strategic Buying in Uncertain Times

For buying advisors, this moment requires a delicate balance. At Dezie, I'm counseling clients to:

• Increase confidence in Chanel allocations—Blazy's debut exceeded all expectations. While first collections can be misleading, the combination of creative brilliance and market enthusiasm suggests strong commercial potential. This is a moment to commit, not hedge.

• Give Anderson room to grow at Dior—His track record deserves patience. Debut collections aren't always representative of a designer's full vision. I'm advising clients to maintain strong Dior relationships and watch closely as Anderson's vision develops over the next few seasons.

• Capitalize on Trotter's Bottega momentum—Her reinvention was both creatively strong and commercially intelligent. Pay special attention to accessories, where Trotter's strength combined with Bottega's leather goods heritage could yield exceptional sell-through rates.

• Evaluate Balenciaga with fresh eyes—Piccioli's arrival could represent a significant opportunity for retailers who connect with his more refined, craft-focused approach

• Don't overlook Milan's strong showing—Houses like Versace that delivered confident, cool collections deserve consideration, particularly as buying budgets get dominated by Paris transition narratives

• Consider the domino effect—Blazy's move from Bottega to Chanel, Anderson's shift from Loewe to Dior—these aren't isolated changes. They represent a fundamental reshuffling of luxury's creative hierarchy

• Analyze early sales data obsessively—the first few weeks of delivery tell you everything about whether a creative vision will translate commercially

The Bottom Line

This Milan and Paris Fashion Week season will be remembered as an inflection point. The concentration of creative director changes at Bottega Veneta, Balenciaga, Chanel, Dior, and Loewe represents more than just personnel shifts—it marks a fundamental reimagining of what luxury fashion means in 2025. For any boutique merchandising consultant, this evolution offers critical insight into how design direction, brand identity, and consumer expectation are being redefined in real time across the global fashion landscape.

Matthieu Blazy's appointment at Chanel is the crown jewel of this transformation—a high-stakes bet that craft, intelligence, and respect for heritage can coexist with commercial ambition at the world's most valuable fashion house. His mind-blowing debut suggests that bet will pay off spectacularly. Jonathan Anderson's move to Dior, while still finding its footing, represents LVMH's commitment to creative leadership over safe commercial choices. Louise Trotter's historic and brilliant appointment as the first female creative director at Bottega Veneta, Pierpaolo Piccioli's renaissance at Balenciaga, and Lazaro Hernandez and Jack McCollough's leadership at Loewe add equally fascinating dimensions to this moment.

We're watching creative minds who proved themselves at one house now take on even greater challenges. We're celebrating not just the appointment but the triumphant debut of a female creative director at a major Italian house. We're witnessing artisans and intellectuals being chosen over pure commercial operators—a sign that luxury is recalibrating what it values in creative leadership.

As a buying advisor navigating both the intimate knowledge of the Parisian fashion ecosystem and the complex demands of international luxury markets, I see this as both challenge and opportunity. The brands that successfully navigate these transitions—and some already are—will emerge stronger, more relevant, and better positioned for the next decade of luxury fashion.

The question isn't whether these changes will reshape the industry—they already have. The question is: who will thrive in this new landscape? Based on what I witnessed this season, my money is on the houses led by designers who understand that luxury is about craft, vision, and genuinely understanding the people who wear the clothes.