In February of this year, 2023, it was announced that Pharrell Williams would be taking over as the menswear artistic director for “Louis Vuitton” following the untimely passing of Virgil Abloh. With the directorship position vacant at the prestigious luxury fashion Maison, many speculated that the streetwear boom that emerged after Virgil’s rise would soon wane. However, now that over two years have passed, it is evident that the movement has only gained momentum, albeit transforming its appearance along the way.

While the fashion industry worldwide suffered the effects of the Covid-19 pandemic, experiencing a sharp decline in sales, the year 2022 marked a remarkable V-shaped recovery, especially for luxury brands. During the pandemic, those who steadily amassed power were individuals and companies with global bases and networks. In a world of limited face-to-face interactions, business transactions depended heavily on credit. The V-shaped recovery of the luxury industry, based on legacy and its credit, was somewhat expected. I previously discussed this in my article titled “FASHION AND PANDEMICS – LIVING IN A WORLD THAT NEVER ENDS” where I stated that global conglomerates would initially face a significant negative impact from the pandemic, but also highlighted the potential for the fastest significant recovery. I also mentioned the possibility that this could lead to major recapitalisations and industry restructuring, including mergers and acquisitions.

According to the financial results announced in January 2023, Louis Vuitton’s sales surpassed €20 billion, reaching an all-time high, and LVMH also achieved its highest-ever market capitalization. Consequently, Bernard Arnault officially emerged as the world’s wealthiest person, making headlines as a cultural icon alongside Elon Musk. Around the same time as this financial announcement, Open AI released ChatGPT Plus and GPT4, which triggered an AI boom. This trend is now beginning to indirectly affect the industry as a whole.

Furthermore, at about the same time, Tiffany, under the umbrella of LVMH, announced a collaboration with Nike, a memory still fresh in our minds. Some may also recall that ordinary individuals were posting sneaker designs created through AI collaborations on social media. As we witness the unfolding of dynamic changes post-COVID, it is worth reflecting on the progression from Virgil Abloh’s absence to the present. In this context, the article “Pharrell Williams: Can the Strongest Consumers Become the Strongest Creators in the Age of A.I.?” raises intriguing questions about the possibilities that lie ahead. This article originally appeared on fashionsnap.com.