These are the stories making headlines in fashion on Thursday.

Versace CEO Exits

Emmanuel Gintzburger exited his post as Versace’s CEO effective June 23, Prada confirmed. Gintzburger joined the Italian brand as CEO in 2022, and previously served as Alexander McQueen’s CEO. Gintzburger’s successor “will be announced in due course,” Prada told WWD. {WWD/paywalled}

Balenciaga Partners With Substack’s Sponsorship Program

Balenciaga is the first fashion house to partner with Substack’s native sponsorship program. The new program’s structure allows for creator-led editorial to be backed by multiple revenue streams, including potential collaborations with partnering brands like Balenciaga. “Balenciaga has a century-long history of innovation, and I’m proud that it continues to forge ahead as a cultural catalyst, empowering creativity and new channels of independent thinking, embodied today with this Substack partnership,” Balenciaga CEO Gianfranco Gianangeli said in a statement. {Fashionista inbox}

H&M Reports 3% Sales Drop in Q2

H&M released its Q2 2026 report on Thursday, which showed a 3% year-over-year decline in net sales to SEK 54.82 billion (about $5.62 billion). H&M operated with around 3% fewer stores at the end of the quarter compared to the same point last year. In the first half of the year (Dec. 1, 2025 to May 31, 2026), H&M reported net sales of SEK 104.44 billion (about $10.73 billion), down 7% year-over-year. {H&M Group}

Kering Names Finalists of the Second Kering Generation Award x Jewelry

On Thursday, Kering announced the four finalists of the second edition of the Kering Generation Award X Jewelry, including two students and two startups. The students included “Perching Willow” by Yang Yuchan and “Acacia” by Jill Schmid, while the startups included GeoGems by Lauriane Pinsault and Novanoma by Masanori Kirihara. The award was launched to promote innovation and sustainable practices within the jewelry sector. The four finalists will present their final projects on July 9 at Kering’s Parisian headquarters. {Kering}

DSquared2 Names Bad Gyal as Global Brand Ambassador

Spanish musician Bad Gyal is DSquared2’s new global brand ambassador. In this role, Bad Gyal will front upcoming international campaigns and represent the brand at key global events. “DSquared2 has always stood out to me for the way they mix raw edge with pure elegance,” Bad Gyal said in a statement. {Fashionista inbox}

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