What John Galliano going to Zara tells us about fashion—and everything else

It looks like fashion news. It’s actually a signal about the future of value creation itself.

John Galliano, March 2026. [Photo: Dave Benett/Getty Images]

Fashion, it turns out, is a leading indicator. Long before mainstream business commentary catches up to a structural shift in the economy, the runway has usually already staged it. The announcement that John Galliano—arguably the greatest couturier alive—has signed a two-year creative partnership with Zara is one of those moments. It looks like fashion news. It is actually a signal about the future of value........

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