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The British designer is parting ways with the Roman house after an eventful four-year collaboration. He continues as artistic director of men's collections at Dior.

Kim Jones and Fendi are parting ways after an eventful four-year collaboration that saw the Roman house dabble with collaborations, and destination shows.

The British designer, whose title at Fendi was artistic director of haute couture, ready-to-wear and fur collections for women, is to continue in his role as artistic director of men’s collections at Dior in Paris.

Fendi parent LVMH Moët Hennessy Louis Vuitton announced Jones’ exit in a brief statement late Friday.

“Kim Jones made significant contributions to the brand’s creative legacy, seamlessly integrating his modern and cross-cultural aesthetics with Fendi’s historical heritage,” the joint statement said. “Under his leadership, the maison reinvented its ready-to-wear and couture collections, offering an inclusive and innovative approach to fashion that constantly renewed Fendi’s Italian codes. Throughout his four years, Jones’ work was wholly guided by passion and creativity.”

Bernard Arnault, chairman and CEO of LVMH, lauded Jones as “a highly talented designer who has brought his unique and multicultural vision to Fendi over the past four years. I would like to thank him for his contribution and look forward to continuing to witness his creativity for Dior Men’s.”

There was no mention of the succession plan, only that “a new creative organization for Fendi” would be announced “in due time.”

According to market sources, Fendi has recently held discussions with designers including Pierpaolo Piccioli, previously creative director of Valentino.

The exit of Jones creates another high-profile vacancy and adds to the creative upheaval roiling the industry, currently grappling with a slowdown in luxury consumption and consumer caution.

As reported, the employment contracts of John Galliano at Maison Margiela, Jonathan Anderson at Loewe, and Lucie and Luke Meier at Jil Sander are coming to term before the end of the year or in early 2025, according to market sources. There are also creative vacancies at Chanel, Dries Van Noten and Jean Paul Gaultier.

During his tenure at Fendi, Jones frequently referenced ready-to-wear designed by Karl Lagerfeld, who had famously created furs and women’s rtw for the Roman house from 1965 until his death in 2019.

Jones also collaborated closely with Silvia Venturini Fendi, artistic director of accessories and men’s wear collections, and her daughter Delfina Delettrez Fendi, jewelry creative director, whom he considered a key muse.

Over the past year, he also spoke enthusiastically about preparations for Fendi’s centenary in 2025, while stopping short of detailing specific plans.

When he joined Fendi, Jones became the latest acclaimed menswear specialist to broaden his fashion universe to womenswear, following on the heels of Hedi Slimane and Raf Simons.

For his first crack at Fendi, he took a client-focused approach centered on real clothes and the lifestyle needs of his close circle of female friends, which includes the likes of Kate Moss, Naomi Campbell, Ronnie Cooke Newhouse and Victoria Beckham.

He told WWD in an interview ahead of his Fendi rtw debut in February 2021 that he simply wanted to make “clothes that women will want to buy. I’m not gonna lie. I think that’s what my job is. I want all my friends to go, ‘I want that straight away.’”

He took pride in commercial success, and frequently boasted that Fendi revenues nearly tripled during his tenure to surpass 2 billion euros.

His collections received mostly positive, though hardly ecstatic, reviews, and it is understood some LVMH insiders looked dimly on some of his projects at Fendi.

In September 2021, he surprised the fashion world by pioneering a full creative swap: Donatella Versace designed a Fendi collection and Jones a Versace lineup for pre-fall 2022 retailing. They were known collectively as the Fendace collections and were sold at pop-ups across the globe, in addition to Versace and Fendi websites and boutiques.

In 2022, Jones tapped Marc Jacobs to create a collection within Fendi’s spring 2023 women’s collection that was shown during New York Fashion Week, and also teamed with Tiffany & Co. for special Baguette handbags. He followed up in 2023 with a Stefano Pilati collaboration under the new “Friends of Fendi” banner.

Jones also endured some management turmoil during his four-year stint.

Last May, Pierre-Emmanuel Angeloglou was appointed chief executive officer of the Italian luxury company, which he took on in addition to his role as managing director of LVMH Fashion Group.

He succeeded Serge Brunschwig, who served for six years as chairman and CEO of Fendi, building the brand’s retail network, investing in its industrial infrastructure, and forging a joint venture wth Design Holding, forming Fashion Furniture Design (FF Design) to develop the Fendi Casa business.

Jones has had a storied fashion career, with Galliano snapping up his graduate collection from Central Saint Martins.

He initially launched a signature menswear label. Known for its sporty, streetwear edge, the Kim Jones brand lasted for eight seasons and attracted the attention of Dunhill, where he was creative director from 2008 to 2011.

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Monzo is now valued at $5.9 billion after the U.K.-based challenger bank confirmed a secondary market share sale to provide liquidity for its employees.

The transaction, first rumored yesterday, saw existing investors such as Singapore’s sovereign wealth fund (GIC) and StepStone Group procuring additional shares in the London-based fintech.

A secondary market sale essentially rewards employees for getting a company to where it is, without having to go public — or, at least, buying it more time.

It has been an action-packed year for Monzo. The company raised $190 million in May, just two months after kicking off a $425 million Series I round that saw Alphabet’s CapitalG and sister VC firm GV making a rare co-investment. The startup has now raised around $1.5 billion since its foundation nine years ago.

At the time of its March fundraise, Monzo said its pre-money valuation was £3.6 billion ($4.6 billion), implying a post-money valuation of £4 billion ($5 billion) — this valuation rose slightly with the second tranche that followed in May. The following month, Monzo reported its first full-year (pre-tax) profit, with its revenues more than doubling from the previous year. The company claims 20% of U.K. adults as customers as well as 6% of businesses in the country.

This growth, coupled with a roadmap that includes a wider European expansion and plans to accelerate its rollout in the U.S market where it appointed a new CEO last October, has clearly been deemed sufficient for a valuation bump in the past five months.

Rival U.K. neobank Revolut recently confirmed a new valuation of $45 billion via a similar secondary market sale, shortly after securing its own banking license in the U.K. and Mexico.

“It’s great to be able to provide employees with some liquidity, while meeting further investor demand for Monzo equity,” Monzo CEO TS Anil said in a statement.