Marcel Melzig

Seven Majors. 42 podium places. Half of them wore @adidas. 16 of its 21 podiums came in one shoe, the Adizero Adios Pro Evo 3. @Nike is still number two with 8. Four of the eight were prototypes. A prototype can win a race. It can't fill a shelf.

Bottega Veneta stayed off Instagram for five years. Last Thursday it came back with 60 images for its 60th anniversary. Among them the archive motto "When your own initials are enough". Silence works as a strategy when you have something worth breaking it for.

@adidas just posted the biggest quarter in its history. @PUMA posted an operating loss. Both chose to hold back in wholesale.

Prada is back at #1 on the @Lyst Index Q3 26 (+5). Demand on Lyst +55%. Celine enters the top 10 for the first time (+5). Gucci climbs to #4. Hottest product: the @Prada Wish pouch, searches +498%. The brands moving up have a point of view you can explain in one sentence.

ASICS grew SportStyle 83% in the first half, to ¥123.1bn. Tominaga on how: "We didn't mass-distribute anything." Then: "Our wholesalers are not doing a lot of discounts." As a buyer, that second line is the one I'd frame.

Hoka and Ugg owner Deckers cut its sales outlook to $5.700-5.725B, from $5.86-5.91B. Profit still rose: EPS ex tariff refunds +11.5%. The CFO: "where we saw others being more promotional or heavily promotional, we stayed out of that." Holding price makes my next order easy.

adidas just reported preliminary numbers for the biggest quarter in its history: €7.25 billion in revenue and €1.01 billion in operating profit. The part I care about is full price.

Resale is a live read on brand heat. FASHIONPHILE paid 15% above retail for the Chanel Urban Essential and 13% for the Souplissimo and Archetype Tote. Chanel was its most searched brand of 2026. Brands can't control what buyers pay secondhand.

LVMH's handbag problem just turned into a Sephora story. Q3 organic: → Selective Retailing +8% → Watches & Jewelry +6% → Fashion & Leather Goods -5% Asia excl. Japan -5%. US, Europe, Japan grew. The bag is no longer the default luxury buy. Reports in reply.

Nike Direct fell 8%. North America wholesale grew 9%. That is the quarter. Not the EPS line. Gross margin +60 bps came mostly from warehousing and logistics. An operations win, not full-price brand repair. Full piece on Market Pulse. marketpuls.substack.com/p/ni…

Nike just printed its first clean Win Now quarter. $11.2B rev (-4%). Gross margin 42.8% (+60 bps). Wholesale almost flat. Direct -8%, Digital -13%.