Versace has experienced the biggest decline in popularity among top luxury fashion brands, with consumer interest falling 39 percent in 2025, according to a December report by men’s jewelry shop Icecartel. The decline occurred despite Prada acquiring the Italian house for 1.375 billion US dollars in early December, substantially below the 2 billion dollars Capri Holdings originally paid in 2018.
The study examined top luxury houses to determine which brands consumers actually want to wear currently and their business valuations. Research analyzed leading fashion houses by tracking online search volumes, focusing on data from countries with the biggest fashion industries including the United States, United Kingdom, France, Italy, Japan, and South Korea.
Versace’s popularity decline started when Donatella Versace stepped down as creative director in March after running the brand for 27 years. This leadership transition appears to have significantly affected both brand appeal and market valuation, with the house now valued at roughly 30 percent less than its 2018 acquisition price.
Balenciaga recorded the second largest decline, with brand appeal dropping 25 percent this year. The house has faced recent controversies, with problems intensifying in March when Demna, who had led the brand for ten years, departed to join Gucci as creative director. The brand is currently valued at 1.4 billion dollars, slightly more than Versace, but faces similar challenges determining its creative direction.
Fendi experienced a 20 percent popularity drop following major leadership changes. The Roman house underwent transition when Silvia Venturini Fendi stepped down in September after decades building the label. Maria Grazia Chiuri, previously running Dior, assumed the role of Fendi’s creative head the following October. While the brand maintains high valuation at 4.9 billion dollars, the new creative leader faces challenges restoring relevance.
French label Jacquemus also fell 20 percent, matching Fendi’s decline rate. The brand built its reputation on Instagram friendly aesthetics making luxury feel accessible, but maintaining that excitement became harder as trends evolved and larger brands copied the approach. Jacquemus is valued at 622 million dollars, the smallest figure among brands examined, reflecting its relative youth compared to established luxury houses.
Celine lost more than 19 percent of consumer interest following a significant transition after Hedi Slimane departed at the end of 2024. Michael Rider took over the 2.38 billion dollar house as creative director in early 2025, though changes still affected the label’s popularity. Rider previously worked at Celine for ten years, potentially positioning him to reverse the decline.
Meanwhile, Miu Miu emerged among the most popular labels this year, becoming the preferred choice for Generation Z shoppers with interest rising nearly 20 percent. The brand demonstrated that effective creative direction aligned with consumer preferences can drive growth even amid broader industry turbulence.
Chanel gained 3.4 percent in consumer interest and maintains the highest brand value at 37.9 billion dollars. Prada increased 4.2 percent, The Row rose 10.3 percent, and Ralph Lauren climbed 12 to 13 percent, showing that not all luxury houses suffered declines during the transitional period.
Joosep Seitam, co-founder of IceCartel, commented that fashion is experiencing its biggest shake-up since the 2008 crash. “The last two years brought more designer changes than we’ve seen in decades: Chanel, Dior, Gucci, Versace, Loewe, all switching creative directors,” he stated.
He noted that when new designers join, it typically takes at least 18 months before they make their mark. “These drops in popularity are more about these brands being in transition, rather than disappearing,” Seitam explained, suggesting current declines may represent temporary disruption rather than permanent decline.
The widespread creative director changes reflect broader luxury industry dynamics as houses seek to refresh their appeal and attract younger consumers. However, the transition period between leadership changes often creates uncertainty that affects brand perception and consumer interest until new creative visions become established.
