Amid all the talk about celebrity endorsements, destination shows, and sustainability in luxury, the fashion industry also faced a series of major changes in leadership in 2022. Some left their jobs, others closed their namesake labels. It didn’t use to be like this.

“Back in the day, designers didn’t shuffle around this much,” says a couture adviser to private clients like the late Anne Bass and royal families in the United Arab Emirates. “Now, it’s all a big chess game.”

In November, Alessandro Michele ended his eight-year tenure at the helm of Gucci; he had been working at the company for more than 20 years. While there, his gender-fluid, 1970s silhouettes and bright colors changed the look of the label and resonated with shoppers and celebrities alike; Jared Leto, Lana Del Rey and Harry Styles were all fans. Michele even collaborated with other brands like Supreme and Balenciaga, which expanded his reach beyond its core customer base. Why the shift? The trade newspaper Women’s Wear Daily reported that François-Henri Pinault, chairman and chief executive officer at Kering, Gucci’s parent company, was “looking at a change of pace for the group’s star brand.” Michele leaves behind a rich legacy, and the introduction of a high-jewelry line, which T&C previewed exclusively.

After 27 years of his own line, Raf Simons, the Belgian designer who has championed youth…