Welcome in, today is Monday, October twelfth, and we begin with Luxury Daily on a creative change at the top of Saint Laurent. Anthony Vaccarello is out at Saint Laurent. Luxury Daily reports the Belgian designer is departing the creative director role, and Drapers reports the same exit. Per that first account, the tenure spans roughly a decade of growth at one of Kering's commercially most important fashion houses. The open question now is direction. A top creative seat sits vacant at one of the group's largest houses, which puts ready-to-wear and the next show calendar in play while Kering is already managing turnaround pressure. A change of hand at that level carries downstream, into casting, campaign planning and wholesale conversations. Reaction so far leans toward the design legacy rather than the business story. Several voices credit the departing tenure with setting the house's menswear codes, and some read the September show's fade-to-black finale, in hindsight, as a deliberate goodbye. Also today, Fast Retailing's operating profit rose thirty-one point seven percent, to seven hundred forty-three point one billion yen, about three billion pounds, for the year to the thirty-first of August. Drapers reports that is a fifth consecutive record year for the Uniqlo parent, so the gain is measured against a base that was already a high. A fifth straight record gives the value-basics model its clearest scoreboard yet against Western high-street peers heading into holiday trading. Commentary circulating alongside the figures leans toward the geographic mix as the more telling detail, with some framings singling out Western markets overtaking China as a sign of shifting global demand, and of the value of a diversified market base. Separately, a Finimize analysis puts China's tax deadline at the centre of luxury's third quarter. Beijing has told wealthy residents using offshore trusts to declare and pay years of back taxes by the twenty-second of October, days before LVMH, Hermès and Kering report. That piece cites Reuters on a twenty percent levy, and consultants at Trinity Asia warning some ultra-wealthy households could prioritise the tax bill over discretionary spending until they know the final number. The argument rests on scale. Chinese shoppers drive roughly a fifth of global luxury purchases, so even a short pause shows up in reported sales, and analysts cited in that reporting call recent China demand uneven by brand. Among advisers working the deadline, the recurring concern is liquidity rather than the bill itself. Elsewhere, LVMH and Kering have updated the joint charter on model working conditions they first signed in twenty seventeen. British Vogue reports both groups now commit to a minimum age of eighteen for any model walking a show or posing in a shoot, up from sixteen at LVMH and matching Kering's twenty nineteen position. Trade reporting on the same charter sets out zero tolerance for harassment, abuse or violence, tighter rules for nudity, requiring prior formal consent, a dedicated space and a ban on leaving a model alone with production staff, plus anonymous reporting routes and unannounced audits. The standards apply from the twenty twenty-seven Paris Fashion Week, giving casting directors, agencies and production partners time to rework age checks and set conditions. Industry reaction is broadly welcoming, with a recurring caveat that enforcement, not the pledge, decides its value. Now, a few more headlines moving the trade today. Following our earlier report on the new Frasers Group Luxury arm, Drapers understands Frasers will close the Harvey Nichols store in Birmingham on the third of January. Drapers reports Chancellor John Healey has reportedly invited retail, hospitality and leisure bosses to talks on Tuesday morning, ahead of his first Budget on the twenty-eighth of October. Adidas is suing Australian brand White Fox over clothing it alleges is deceptively similar to its three-stripe design, Drapers reports. The allegations are unproven. WWD reports the American trade deficit widened in August to one hundred five point six billion dollars, the widest since the start of President Trump's second term. And finally, Drapers reports Lululemon and the Danish house Ganni have unveiled a collaboration, launching on the fifteenth of October.