Market
Reported sales, margins, inventory, channels, and regional differences.
GARDE EDITORIAL
Fashion, with the evidence kept close.
Independent notes on the market forces, operating systems, and rules shaping what gets made, sold, returned, resold, and discarded.
Fashion in 2026: the market has no single direction.
Major luxury groups are moving at different speeds. Inventory discipline is lifting margins at some retailers without much sales growth. Resale platforms are adding buyers. From today, large companies in the European Union face a ban on destroying unsold apparel and footwear. The figures resist a simple recovery story.
Read the market state of playCOVERAGE
The record around fashion matters.
Movement
Returns, resale, repair, reuse, and the physical work behind each route.
Rules
Waste, producer responsibility, product standards, and changing obligations.
Trust
Traceability, counterfeits, sourcing, and the limits of what can be claimed.
EDITORIAL METHOD
Figures first. Inference second.
GARDE separates reported results from interpretation, dates every data point, keeps company-specific evidence in scope, and corrects the record when better evidence appears.
Read the editorial standards