Celine is out with their winter 2026 campaign today, the same day that Givenchy by Sarah Burton releases their new Fall 2026 Campaign shot in Croatia. We’ll discuss Givenchy tomorrow. Tonight, we stay with Celine. Oh good. Fendi just crossed my desk.

These new Celine Hiver 2026 campaign images feature models Alaina Rae, Faith Johnson, Frej Larsen and Milo Flaviani, with styling by Brian Molloy. Zoe Ghertner [IG] shoots the campaign in Paris./ Hair by Duffy and Holli Smith; makeup by Lucia Pieroni and Thomas De Kluyver

With Louis Vuitton and Dior Limping in China, Beccari Looks at His Cards

I said early in the summer that LVMH Fashion Group and also Louis Vuitton CEO, Pietro Beccari would take control of LVMH Fashion group marketing budgets to feed the beasts that are performing the best. My concern in that moment was Beccari putting his foot on the gas for the brands performing well to offset the serious challenges at Dior.

The situation has worsened. Besides Dior dealing with an absolute sucker punch from Chanel, Dior — but now also Louis Vuitton — was hit hard in China in July 2026 with Beijing cracking down on money mobility among the rich. Translated, Beijing wants its tax money, and you won’t find AOC having any argument with that reality.

We don’t know how badly the houses are impacted, but the declines are double digit over last year for both LV and Dior in China, according to info released in recent days. China was shaping up well for Vuitton before this taxation issue emerged. Vuitton was taking a PR hit over a trademark decision that they won — but at what cost? It’s too complicated to discuss in one paragraph, and while AOC read concerned reports, we felt the damage would be limited.

Only Chanel and Prada stayed in positive results over last year in the month of July in China, but momentum slowed at both houses. Hermes swung from positive to negative.

In this moment, it’s Beccari’s job to go looking for all the stashed cash that can be reassigned to drive Celine for one case. I’d say they are at the head of the list for funding to increase revenues.

A relevant piece of info we don’t have, regarding the declines in China, is the remaining 15 brands on the list of 25. The maisons may know it, but we don’t. I do know that Celine has been doing very well in China and Michael Rider is held in high regard. Fendi also is supposed to be strong in China with Maria Grazia Chiuri’s designs selling well.

Reality is that — given the magnitude of the China tax situation — all the smaller brands could also be hit hard. That would be a deep wound for certain.

Bravo to the team at Celine, who feels like it’s burning rubber — unless I’m getting bad info. Fingers crossed that Celine is firing on all cylinders, because we need some good news in our very complicated, luxury fashion global reality. ~ Anne