New York-based designer Alexander Wang is still the man of the hour, having confirmed plans on Saturday night to launch a collection with H&M this coming fall. Just how this will impact his relationship with Balenciaga/Kering Group remains to be seen. You could argue that any press surrounding one’s star designer is good press, but at the same time you couldn’t quite imagine any Kering investor sitting content with the idea that Wang won’t be generating profits for the house. Which leads one to ask: did Kering in fact allow this deal to take place (rash move) or did Wang seal the deal with H&M long before joining the house and have Kering agree to it as part of his contract? Meanwhile, there’s been plenty of speculation about just how profitable H&M’s store strategy really is. The company says it’s doing well while the retail climate globally isn’t exactly on fire. So here’s the question: is H&M hedging against weaker profits by snagging one of the buzziest designers around while it can? If you didn’t know any better, you’d reckon “fast fashion” just got a wee bit desperate.