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These are the stories making headlines in fashion on Thursday.

Miley Cyrus fronts Maison Margiela campaign

Miley Cyrus stars in Maison Margiela’s Fall 2025 campaign, photographed by Paolo Roversi. Cyrus wears key pieces from the collection, along with a new iteration of the brand’s 5AC bag. She is also photographed in the nude with her body painted white to reflect Margiela’s white-overpaint bianchetto technique. “The nudes by Paolo are so iconic and signature to his art,” Cyrus said in a statement. “Standing naked for a fashion campaign felt major, all I wore was body paint and the signature painted Tabi boots. In that moment, Margiela and I became one.” See all of Cyrus’s campaign images, above. {Fashionista inbox}

Givaudan names new CEO

Gilles Andrier is retiring from his position as Givaudan’s CEO, effective March 1, 2026, after holding the role for 20 years. Christian Stammkoetter will succeed Andrier as CEO on March 1, 2026. Stammkoetter joins from Danone, where he is currently President Asia, Middle East and Africa and a member of the Executive Committee. He has more than 25 years of global experience in fast-moving consumer goods, from personal care to food, beverage and nutrition. {Givaudan}

Victoria’s Secret reports sales increase, but expects $100 million tariff hit

Victoria’s Secret reported its second quarter sales on Thursday, which showed net sales of $1.46 billion for the second quarter of 2025, an increase of 3% compared to net sales of $1.42 billion for the second quarter of 2024. Victoria’s Secret raised its full-year outlook and is now forecasting net sales in the range of $6.33 billion to $6.41 billion, compared to prior guidance of $6.2 billion to $6.3 billion. This outlook also includes an updated estimated net tariff impact of approximately $100 million for fiscal year 2025, which is $50 million higher than the company previously estimated. {Victoria’s Secret}

Abercrombie & Fitch says tariffs will increase costs by $90 million this year

Abercrombie & Fitch’s second quarter results saw record net sales of $1.2 billion, up 7% from last year. Hollister’s net sales grew 19%, thanks to back-to-school demand, while Abercrombie brands’ net sales were down 5%. The company exceeded its second quarter profitability expectations. Abercrombie & Fitch increased its full-year net sales outlook, and also estimated that rising tariffs will cost the company about $90 million. {Abercrombie & Fitch}

PVH raises full-year outlook

PVH Corp., which is home to Calvin Klein and Tommy Hilfiger, reported that its second quarter revenue increased 4% to $2.17 billion compared to the prior year’s period. The company is raising its full-year outlook, now estimating revenues to rise by low single-digits after previously expecting revenues to be flat. PVH saw a strong performance in the Americas as revenue increased by 11%, and revenues at both Calvin Klein and Tommy Hilfiger grew by 5% and 4%, respectively. {PVH}

Violet Grey is acquiring competitor beauty retailers

Violet Grey quietly acquired The Detox Market earlier this year, and could close a similar transaction for Cos Bar as soon as Friday. Terms of the deal were not disclosed. One source told WWD that Violet Grey, a predominantly digital business, gains entrée to Cos Bar’s 21 stores and its luxury clientele with the deal. Acquiring The Detox Market also broadens the breadth of product beyond luxury price points to include categories billed as “clean.” {WWD/paywalled}

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