Back in December 2025, fashion tarot forecasts were drawn for five brands in flux — Versace, Balmain, McQueen, Giorgio Armani, and Gucci — each split by quarter. With Q1 now behind us, it’s time to hold the predictions up against what actually happened. What follows are the original forecasts alongside the reality, with quick checks for each brand to assess how closely the cards aligned.

- - - Advertisement - - -

Versace

At the end of 2025, Versace had been bought out by Prada, and Dario Vitale had been let go.

Versace Q1 2026 Prediction: II of Cups (Reversed) • IX of Wands

The original forecast said: There may be some disruption and problems from the merger, perhaps some office conflict – could it mean some layoffs? There’s a feeling of reassessment of the situation here. There’s the showing of vigilance before there can be success.

Q1 Reality

As far as layoffs go, this could be a real possibility: Prada announced that they will be closing the Versace Jeans line and all other ready-to-wear sub-brands. In an upmarket move, Atelier Versace will be relaunched with a focus on haute couture; Prada will also decrease discounts and promotional opportunities, including outlet sales and discount campaigns in general. There is definitely a look at the situation and reassessing where to go from here.

Versace Accuracy: 70%

Disruption from merger: Yes
Layoffs/cuts: Likely – sub-brands being closed, lines cut
Office conflict: Unclear
Reassessment of the situation: Yes – major strategic pivot underway
Vigilance before success: Yes – caution, calculated moves rather than quick wins

- - - Advertisement - - -

Balmain

Balmain ended 2025 with the departure of Creative Director Olivier Rousteing, and a shadow of financial strain.

Balmain Q1 2026 Prediction: IV of Pentacles • Queen of Swords (Reversed)

It’s a time for financial austerity, although sticking to the same tried and tested methods can hinder progress. There is the need to adapt and be innovative – Q1 for Balmain shows a sort of stagnation in strategic innovation.

Balmain Q1 2026 Reality

Regarding stagnation and sticking to the same methods, let’s look at Antonin Tron’s Fall 2026 collection for Balmain: there have been comments that he has brought his signature codes from Atlein to Balmain; the success of this is still up for debate. As for the financial aspect, Mayhoola’s return on investment on Balmain has been well below industry benchmarks.

Balmain Accuracy: 100%

Financial austerity: Yes – returns well below industry benchmarks
Sticking to same methods: Yes – Tron’s Atlein codes carried over to Balmain
Need to adapt and innovate: Yes – but not yet evident
Stagnation in strategic innovation: Yes

McQueen

The December 2025 situation: Kering was looking to restructure and reposition the brand.

McQueen Q1 2026 Prediction: IV of Pentacles (Reversed) • The Devil

While impulsive financial choices may backfire, stepping away from traditional methods could open the door to creative renewal. The moment points to role realignments and career transitions, with decisions that shape future financial prosperity and allow greater independence from limiting frameworks. Could there be a new Creative Director on the horizon?

McQueen Q1 2026 Reality

Layoffs in Italy have been announced; these represent reduction of 30% of the country’s workforce; these have been met with serious opposition by Italian unions. Decisions to shape future financial prosperity are definitely being taken: there are also shifts happening in the London head office (job cuts had been announced at the end of 2025) and the brand is aiming to return to profitability within three years, to combat a 60% drop in revenue. All in all, Kering is looking to transition the brand into profitability, but has ruled out the possibility of selling it.

McQueen Accuracy: 75%

Backfire from impulsive financial choices: Yes – unions protesting to layoffs
Stepping away from traditional methods: Yes – major restructuring underway
Role realignments and career transitions: Yes – significant layoffs in Italy and London
Decisions to shape future financial prosperity: Yes – three-year profitability plan in place
New Creative Director: No
Greater independence from limiting frameworks: Maybe – Kering has ruled out selling

- - - Advertisement - - -

Giorgio Armani

With Armani’s passing last year, and a will that surprisingly looked to relinquish control of the company, the future looks interesting.

Giorgio Armani Q1 2026 Prediction: III of Wands • Queen of Pentacles (Reversed)

There’s the expanding of horizons here: boldness and exploration, opportunities (likely overseas), and setting the groundwork for future success. There is the need for strategic thinking and careful planning. It is a good time for entrepreneurs looking to expand their business ventures into new areas or industries, however there is the risk of financial instability. There needs to be proper oversight of resources with a focus on long-term goals and sustainability.

Giorgio Armani Q1 2026 Reality

No deal appears to have been made yet, however the brand is definitely exploring its options, both in Italy and involving overseas businesses: a collaboration with Italian brand Alanui, the launch of Emporio Armani Power of You fragrance, and welcoming the New York restaurant Indochine for a pop-up at its Via dei Giardini restaurant. An interesting quote comes from Luca Solca, managing director and global head of luxury goods, who says, “Armani needs to modernise and clean up its wholesale and sub-brands. Labels need to stay current and [Armani] would benefit from a refresh.”^[1] Sounds like setting the groundwork for future success, along with strategic thinking and planning.

Giorgio Armani Accuracy: 80%

Expanding horizons: Yes – new collaborations and pop-ups across sectors
Overseas opportunities: Yes – Indochine partnership
Setting groundwork for future success: Yes – exploring options on multiple fronts
Risk of financial instability: Unclear
Need for a strategic oversight and modernisation: Yes – industry voices calling for a refresh of sub-brands and wholesale

- - - Advertisement - - -

Gucci

2025 ended with Demna Gvasalia at the helm of Kering’s key brand in need of a serious financial makeover. Q1 2026 would see his first runway show for the brand.

Gucci Q1 2026 Prediction: IX of Swords • VII of Wands

There are challenges here but these are not permanent, instead they are catalysts for growth and accomplishment. There is the need to learn from critique, however. At the same time, heightened competition underscores the importance of differentiation, making it essential for Gucci to assert a distinct and confident identity.

Gucci Q1 2026 Reality

Reactions to Demna Gvasalia’s first show – Gucci Fall 2026 – were mixed. The collection channeled the 1990s Tom Ford era, and while it was praised for its glamour and sharp tailoring, it was criticised for being unoriginal and too referential. Other criticism was aimed at the overall vibe of the show, which some called “sex appeal that flirts with bad taste”^[1] and “Glamorama meets the noughties meets Ozempic.”^[1]

Gucci Accuracy Check: 88%

Challenges as catalysts for growth: Maybe – mixed reception to collection
Need to learn from critique: Yes – criticism of originality and over-referencing Ford era
Heightened competition: Yes – standing out in a crowded landscape remains a challenge
Essential for Gucci to asserting a distinct identity: Yes – not yet achieved; debut called derivative rather than distinctive

- - - Advertisement - - -

References

[1] Theodosi, N. (2026, March 3). “Despite Armani’s stunted succession plan, the brand still struts.” Monocle. [Link]
[2] Cartner-Morley, J. (2026, February 27). “Demna brings sexy back in effort to reinvigorate Gucci.” The Guardian. [Link]
[3] Kotsoni, E. (2026, February 27). ““Precise, Considered, Unmistakably Gucci”: First Reactions to Demna’s First Gucci Runway Show.” Vogue Business. [Link]