2025 Hard Crash: "Matthieu Who?" and How to Kill a Luxury Brand and the "Go West" Mistake of the Flock of Fashion
by
Susanna Nicoletti
Dec 07, 2025
“When we don’t put the brakes on our self-absorption, we have nothing stopping us from total self-destruction. We become the fruits of our actions.”
―
Zeena Schreck, Beatdom #11: The Nature Issue
Dear DeLuxers,
- Chanel and “Matthieu, Who?”. On How to Kill a Luxury Brand
On December 2nd Matthieu Blazy presented his Métiers d’Arts collection for Chanel in the former Bowery metro station in Manhattan, New York, USA.
This event is relevant for two reasons; the present and the future of the iconic French maison and the decision to go to New York.
Blazy is clearly a fashion darling but we already touched this point in a previous newsletter (see the archive) and we realized that, despite all the buzz, his work never had an impact on the business of the brands he worked for.
He joined BV in 2021 when the brand was doing 1.5 billion euro per year and left in 2024 with 1.7 billion euro revenues. Almost no growth and no Matthieu effect.
Once again when you just hit the first level of the funnel, awareness and buzz, all the money invested is wasted. Today press and instagrammers or tiktokers are overestimated in an empty world where everybody talks the talk.
This is typical of fashion darlings who have a social media following in love with them but who don’t convert and even less they advocate for the brand. Just followers and cheerleaders with no real money or interest to buy the products created by the designers.
And Blazy so far has been the king of this: lots of hype, almost no sales. Facts and figures.
I do not enter in the labyrinth of discussion whether Blazy is talented or not, I just think, as I was discussing a few days ago with one of you in front of a mid-morning cappuccino, that this era needs creative directors who are made of titanium (same for CEOs and top executives).
At the end the top creative directors in the world are no more than 20. They should see themselves live Formula 1 pilots and they should be chosen accordingly based not on unclear potential but following a very precise recruiting process that not only tests their talent (which should include drawing silhouettes and pattern making both in apparel and accessories) but also on their ability to reinterpret the brand codes in a contemporary way but staying loyal to the brand framework they are not expected to design and also mental and physical balance and ability to manage their own stress plus leadership ability.
Same as Formula 1 drivers who are not just expected to be famous among the press and influencers but to be physically and mentally fit for the competition.
The responsibility is too big (as well as the salaries) to be left in the hands of people who are just great in self promotion.
Last but not least they should be business savvy and able to sit down with branding, marketing, merchandising, distribution without any fuss. Only a very few of them, like Karl Lagerfeld and Maria Grazia Chiuri can really tell they have been so successful in all the brands they worked for in terms of brand positioning and business growth.
Creative directors should train themselves and take care of themselves in order to be mentally and physically healthy and creatively inspired. Lots of discipline is required to do this and also the ability to set up teams with the best experts ever in the vertical: best pattern makers, accessories designers, textile experts and merchandisers integrated in the decision making.
No more friends and family and young interns just because they look good. No more “people” sending cut outs of Loewe bags advertising to suppliers to ask them to copy the Spanish brand bags designs….for big, relevant brands this is shameful. And nobody is allowed to check what is going on in the studios, why? Why so much undeserved power for extremely volatile and uninspired people?
Maturity, generally speaking, should be a pre-requisite and the ability to accept feedbacks and to have meaningful conversations with those who might disagree with you. Same for CEOs, and it is not happening frequently because of an unjustified sense of superiority the design office/CEO and staff develop against the rest of the world.
They do not realize that today they expect the publication of the interview of their life on a big national media and tomorrow they are ousted from the brand like it happened at Dario Vitale at Versace. This picture of its first and last Versace show says it all.
Being appointed creative director today in a fashion or luxury brand doesn’t mean to be gifted total freedom to express oneself, it means being at the service of a constantly evolving business that requires also a creative point of view. It means being a manager, not a Montmartre painter.
Being frustrated because they dislike the codes of the brand that pays them a very relevant salary is immature. Willing to kill the brand founders and their own style has more to do with a Freudian issue than the modernization of a brand. It is not what a brand can do for you, it is all about how you can serve the brand and the customers in the best way to grow a healthy business for the long term.
The problem is not if Blazy is cool or if A$AP Rocky has been stolen by Chanel from Dior as the brand ambassador and not even if the bland commercial with Margaret Qualley filmed by Michel Gondry makes sense or not, the problem is what the loyal customer think about the Blazy impact on the brand they loved and consider as a cult.
The arrival of Blazy, pumped as a fashion genius by the very much involved in all senses communication department of the brand, set the bar very high and the customers, the VVIC ones had very high expectations of wonderfully cut clothes and magnificently made accessories with a new twist, what they always expected and often got under Karl Lagerfeld tenure.
They really didn’t want to see a Chanel by Bottega Veneta made by Blazy. A pot pourri of very badly matched flashy styles that didn’t tell at all the story of the highest craftsmanship of the brand.
And it is interesting to highlight what a great partner in crime (with whom I have very enriching conversation sent me a few days ago) right after the Manhattan fashion show. I am very grateful for this, you know who you are.
This is the voice of the customer that should not be neglected. Two Asian ladies, mother and daughter, who saw the Chanel show from the first row. So VVIC.


https://substackcdn.com/image/fetch/$s_!XzLG!,f_auto,q_auto:good,fl_progressive:steep/https://substack-post-media.s3.amazonaws.com/public/images/2c51913a-d271-4031-85d3-22c2561c5a5a_648x835.jpeg

A great warning for a brand. I would call it the “Valentino-Michele effect” and it has been a real calamity for the Roman brand that is struggling very hard in these days and will have to take drastic decisions very soon before its too late.
The future of Chanel is written in this Tik Tok story. As I always highlighted the customer is smarter than most of the industry managers and designers. As always I am anticipating a very relevant pain point in a moment of pumped self-celebration. As always facing the reality is much more important than believing in a “dream” that will never come true. I was right four months ago about Dario Vitale, I was right years ago about Michele at Gucci and then at Valentino, about Chiuri long lasting power and I will be right also in this case…and many more to come in design and business.
The customer doesn’t want to be chased but it needs to be respected and when the brand sets the bar very high it has to do whatever possible to deliver the best positive impact on its loyal customer base first. Does Blazy have any idea of the customer segments of Chanel? No, very likely. And that is the beginning of his own end. This won’t last very long but it will last enough to destroy the internal know how and sovoir faire and it will rapidly change as soon as Bruno Pavlovski will retire. Remember this.
And, is the “Go West” to chase the American Dream after the Chinese Hard Wake Up Call started ringing a good idea? Chanel went to NY and LV, Dior and Gucci all heading west for the Cruise.
Is it just the decision many brands took because they are just part of the flock of sheep all doing the same things? Maybe this flock needs a very good border collie driving them in the right direction? Switching very brutally marketing investment from a region to another is not such a good idea, at the end. They started a gold rush that, once again, is totally unbalanced. They all seem like headless chickens running around.