Prada Group Revenue Thrives and adidas Warns of Price Increases Amidst Economic Uncertainty in This Week's Top Fashion News

Summary

• Prada Group reported 13% revenue increase in Q1 2025 year over year, led by Miu Miu's 60% jump in sales. Elsewhere, adidas warned of future price increases on US goods, despite beating forecasts by reporting net income jumping 155% in Q1 2025.
• G-Star Raw has tapped Botter co-founders Rushemy Botter and Lisi Herrebrugh, who will show their debut at Paris Fashion Week in January 2026.
• Nike is facing a $5 million USD lawsuit filed by its RTFKT non-fungible token (NFT) customers who allege the company engaged in deceptive marketing.
• Palace has hinted at the potential opening of an Osaka boutique in an Instagram post picturing a Palace Osaka Skateboard with a Japanese flag and "Soon" emojis.
• On Tuesday, a legal complaint was filed in the New York Supreme Court naming designer Riccardo Tisci for allegedly sexually assaulting a man in 2024.
• Fendi has confirmed another coed Spring 2026 show slated for September and designed by artistic director Silvia Venturini Fendi in celebration of the Italian house's centenary.

Below, Hypebeast has rounded up the top fashion stories of the week so you can stay up to date on trends in the industry.

Miu Miu Is Winning Luxury's Race to Recovery, Reporting 60% Sales Jump

Reporting 13% revenue increase from 1.19 billion euros to 1.34 billion euros in Q1 year over year, Prada Group continues to soar through economic headwinds that have slashed sales across the luxury sector since 2024. According to WWD, Miu Miu reported a 60% boost in sales in the first three months of 2025, ending on March 31, driven by leather goods sales and the brand’s expanding footwear category.

While the group’s overall sales in Europe, the Americas, and Asia continued to show double-digit growth, the Middle East was its best-performing region, seeing sales up by 31%. It remains to be seen whether the addition of Versace to Prada Group’s portfolio will deal a blow to its performance. Versace, which was acquired from Capri Holdings for €1.25 billion, was hit particularly hard by the luxury slowdown, reporting a 15% drop in sales in the final quarter of 2024.

adidas Warns of US Price Hikes Despite Doubled Growth

Despite beating forecasts by reporting net income jumping 155% in the first quarter of 2025, adidas emphasized its worries about the uncertain trade landscape and warned of future price increases on US goods. According to CNBC, adidas said “Higher tariffs will eventually cause higher costs for all our products for the US market,” in a statement. “Given the uncertainty around the negotiations between the US and the different exporting countries, we do not know what the final tariffs will be,” adidas continued.

Countries where adidas manufactures in like Vietnam and Cambodia, are looking at more than 40% in tariffs, if another deal isn’t agreed upon. However, the brands healthy outlook, boosted by popular styles like the Gazelle, Samba, Stan Smith, and Superstar is a cause for optimism.

G-Star Raw Appoints Botter Founders as New Creative Directors

Botter co-founders Rushemy Botter and Lisi Herrebrugh have been enlisted by Dutch denim brand G-Star Raw as its first creative directors since 2018. According to a report by Business of Fashion, the life partners and creative duo known for their Caribbean-inspired luxury label, will draw inspiration from G-Star’s 90s heyday for their debut line showing at Paris Fashion Week next January.

Founded in 1989 by Jos van Tilburg, G-Star Raw became a cult-brand offering edgy denim and streetwear, notably the famous Elwood pants released in 1996. It was also shared that the popular garment would be a central point of inspiration for their debut collection in 2026. Having grown up not far outside of the Dutch capital, the founders shared their excitement, saying “[G-Star was] always this pride of Holland. So being now part of that makes us very proud.”

Nike Facing Class-Action Lawsuit From People Who Purchased RTFKT NFTs

Nike is being sued by buyers of its RTFKT non-fungible tokens (NFTs), alleging that the company engaged in misleading marketing and other misconduct. Filed in New York’s Eastern District last week, the suit seeks “unspecified damages of more than $5 million USD for alleged violations of New York, California, Florida, and Oregon consumer protection laws.” The suit, led by Australian customer Jagdeep Cheema, states that Nike’s quick closure of RTFKT led to a sharp decline in the value of owners' NFTs, resulting in major losses. The plaintiffs said they would not have purchased the digital assets had they known they were “unregistered securities.”

With the plan of investing in the digital sneaker and fashion collectibles platform, Nike purchased RTFKT in December 2021. However, in December 2024, Nike announced that it was winding down the platform, noting that the company was “recalibrating and reassessing its priorities as it moves into the next chapter of digital innovation.”

Palace Teases New Osaka, Japan Flagship Store

In a mysterious Instagram post shared by Palace this week, a two-part image of a skateboard boasting a bold Palace Osaka graphic seems to hint that the London skate brand may open an outpost in Osaka, Japan. The caption featured more hints, showing a Japanese flag emoji and the “soon” emoji, further clarifying the speculation. The rumors follow Palace's inaugural Seoul flagship opened last year. However, the outpost wouldn't be the brands first step into Japan. Almost ten years ago, Palace opened its first-ever Tokyo store in 2018. As of the time of writing, Palace has not released official information about the possible Osaka store.

Riccardo Tisci Accused of Sexual Assault

On Tuesday, a legal complaint was filed in the New York Supreme Court naming Riccardo Tisci for allegedly drugging and sexually assaulting a man on June 29, 2024. According to The Independent, the 11-page filing from Patrick Cooper outlines his memory of the day Tisci assaulted him after a night out in Manhattan. Cooper had met Tisci through a mutual friend and went clubbing with his friend and the designer. The alleged victim claims that Tisci, former creative director of Burberry and Givenchy, discreetly put a drug in his drink at
a Harlem restaurant, leaving him “unable to fight, stop, or defend himself.”

Cooper states that he was brought back to the designer’s SoHo apartment, where Tisci held him against his will and assaulted him. Following the alleged “predatory, sexual and unlawful assault and battery,” Cooper said that he woke up naked next to Tisci the next morning. However, a Tisci spokesperson vehemently denied the allegations. “These allegations are categorically untrue. Riccardo looks forward to clearing his name of these false and malicious accusations. He will obtain vindication through due process,” the source said.

Fendi To Show Coed Centennial Collection in September

Following its coed Fall 2025 show during Milan Fashion Week in February, Fendi announced that it will continue to experiment with the same format, confirming a coed Spring 2026 show in September. According to WWD, the Italian house led by Silvia Venturini Fendi, will opt out of showing during Milan Men’s Fashion Week this June. Instead, the forthcoming September runway will highlight the brand’s 100th anniversary celebration with a collection designed by Venturini Fendi, artistic director of both menswear and accessories.

As of the time of writing, Fendi has not replaced Kim Jones, who stepped down in October 2024 after four years as womenswear and couture designer. During September’s Milan Fashion Week, Fendi’s show will celebrate the brand’s century in business and the opening of its new flagship store on Via Montenapoleone. Fendi has not yet shared the official date and time for its September show.

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