This is the run-through. I'm Nicole Phelps. It's been a very busy week in fashion. First,

Rhys Van Notton announced a successor on Monday and on Wednesday, John Galliano stepped

down at Maison Margiella. But today was the day. The news that we have been anticipating

for weeks, months came.

Metteu Blazzi left Batega Vanita, and he was appointed at Chanel, the new artistic director,

starting in 2025. This is major, major news for the fashion world. Also today, Batega Vanida announced that Louise Trotter of Carvin will replace Blaise.

So we have a lot to discuss.

I am in the studio with my colleagues, Mark Holgate.

Hello.

Laya Garcia Furtado.

Hello.

And Jose Creales-Oen-Zueta.

What's up to you, man?

Okay, so the first thing we have to do is put it into context.

Why is this the fashion story, the fashion appointment of the year?

So I think the best way to sort of contextualize this is when Carlygarville took the Chanel job in the late 80s, he basically, you know, revolutionized

the way Chanel was perceived, but also luxury fashion operator, right? In a sense, he really helped

create the pyramid of luxury fashion today where you sort of have couture at the top, then you have

ready to order, then you have accessories, then you have redidore, then you have accessories,

then you have beauty and event, and that's kind of how our system now operates.

That's basically how everyone sells things, right?

So that's part of it.

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