Milan Fashion Week opens on Tuesday with an unusual level of anticipation, as several major fashion houses unveil new creative leadership at a moment when the luxury industry is searching for renewed momentum.
Among the most closely watched debuts is that of Georgian designer Demna Gvasalia, who will present his first runway show for Gucci on Friday. His arrival comes after a difficult year for the brand, whose sales fell by 22% in 2025, prompting parent company Kering to seek a dramatic creative reset.
The Milan womenswear shows follow New York and London Fashion Weeks and precede Paris, with the industry showing tentative signs of recovery after a prolonged slowdown. While New York leaned heavily on practical silhouettes—wool coats and cashmere sweater dresses—expectations in Milan are tilted toward bolder experimentation, as new designers look to establish their identities.
Demna, who spent a decade reshaping Balenciaga, offered a first glimpse of his vision for Gucci last September through an Instagram lookbook titled La Famiglia. This week’s show will mark his first full-scale runway statement for the brand and is widely seen as a test of whether his disruptive aesthetic can be translated into commercial revival.
Across the luxury sector, creative directors are navigating mounting pressure to deliver novelty without alienating consumers still sensitive to price increases. The industry is attempting to emerge from a downturn while maintaining sales discipline—a balancing act that has intensified scrutiny on every collection.
“This season we are expecting bold creative resets,” said Tiffany Hsu, chief buying and group fashion ventures officer at Mytheresa. “The anticipation around new creative directions makes this edition particularly charged, with houses redefining their codes under intense global scrutiny.” She added that buyers are seeking collections that are “culturally sharp, emotionally resonant, and commercially intelligent.”
Another major moment arrives on Wednesday, when Maria Grazia Chiuri presents her first collection for Fendi, owned by LVMH. Her debut follows her departure from Dior last year and is expected to draw close attention from critics and buyers alike.
On Thursday, Belgian designer Meryll Rogge will unveil her first show for Marni, which is owned by Italian fashion group OTB.
Industry analysts say the creative stakes have been raised by post-pandemic price hikes that were not always matched by innovation. Many consumers, they argue, have become disengaged, forcing brands to reassess how they deliver value.
“Everyone is thinking more commercially—they’re all trying to drive revenue growth,” said Emily Cooledge, head of luxury research at Rothschild & Co Redburn in London. “But what ultimately defines these businesses is their brand and heritage, and that has to be upheld through creativity in the product. The challenge is finding the right balance.”
Consultant Francesco Fiorese of Simon-Kucher added that consumers are increasingly gravitating toward quieter expressions of quality, suggesting that the next phase of luxury may favour restraint over spectacle.
As Milan Fashion Week unfolds, the industry will be watching closely to see whether these new creative chapters can restore confidence—and desire—at the top of the fashion pyramid.
