When the global fashion group Kering released its first-quarter earnings report (pdf) on April 21, it offered investors good news and bad news. The bad news was that sales of Gucci, its star brand, were down 7.9%, making it Gucci’s worst quarterly performance...

These qualities were apparent at Chanel and Dior. Raf Simons held the Dior show in a small space, giving the audience an up-close view of delicate embroidery on sheer, cloudlike fabrics. “I wanted to play with several references from the past and also...