Fashion had a somewhat tumultuous 2024. While inflation and rising costs presented challenges for the biggest brands, some were even up against legal battles. In case you missed any of it, here are the highlights.

Executive reshuffles were abound in fashion

If there is one thing you can’t accuse fashion of, it’s being boring. Whether it’s on the runways or in the C-suite, things are always changing. This year, the biggest changes were in the executive ranks as CEOs swapped roles at the biggest luxury brands.

In July, Jonathan Akeroyd was abruptly replaced by Joshua Schulman as the CEO at Burberry after a months long sales slump. Meanwhile, Tom Ford appointed celebrated designer Haider Ackermann as its new creative director, replacing former Creative Director Peter Hawkings, who only held the position for one year.

Over at Alberta Ferretti, the creative director at her eponymous brand stepped down from her position without naming a successor. And French luxury retailer Céline tapped former Polo Ralph Lauren creative director Michael Rider to replace Hedi Slimane.

While executive shifts happen in fashion, these recent and unexpected departures seem to have been motivated by dwindling sales and consumer interest.

Keep reading here.—JS

Facing sinking sales, many retail and consumer brands turned to new leaders this year in the hopes of righting the ship. We’re breaking down five of the most notable CEO appointments, the challenges they inherited, and the efforts they’re enacting to turn things around.

Nike

This summer, speculation swirled that Nike CEO John Donahoe was on the chopping block amid slumping sales for the sneaker maker, with efforts like its DTC push and lackluster marketing to blame. Donahoe then announced his retirement in September. He was replaced by Elliot Hill, a 32-year Nike exec who began as an intern in 1988 and stepped away from the company in 2020. Hill has largely been quiet since taking over, but on its Q3 earnings call this week, he shed some light on its turnaround plan: doubling down on Nike’s commitment to partnerships and curtailing discounts and promotions. “We’ve become far too promotional,” he said during the call. “The level of markdowns not only impacts our brand but disrupts the overall marketplace and the profits of our partners.”

Keep reading here.—EC

One in three retail pharmacies closed between 2010 and 2021, and patients of color may be feeling the effects of the trend more, according to a new study published on December 3 in medical journal Health Affairs.

The research out of University of California (UC) Berkeley, Johns Hopkins University, and the University of Southern California (USC) found in particular one notable trend: Unlike 2010 to 2018, when the number of openings was consistently higher than closures, more pharmacies closed than opened from 2018 to 2021, representing a 2.1% decline and suggesting an influx of retail pharmacies shuttering across the US.

Keep reading here on Healthcare Brew.—CM

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