It’s hard to overstate Demna’s influence on fashion. From chunky “ugly” sneakers to oversized silhouettes dominating street style, Demna’s vision at Balenciaga has arguably reshaped the industry forever. In the lead-up to his final couture show for Balenciaga—happening next week in Paris—Nicole Phelps invites Vogue Runway’s senior fashion news editor Laia Garcia-Furtado and fashion journalist and critic Sarah Mower to reflect on the legacy of Demna’s tenure. They trace his rise as a relatively unknown designer at Vetements to a global force who redefined luxury at Balenciaga. The conversation also explores what might lie ahead as Demna steps into his new role as creative director at Gucci. Plus, Chioma and Chloe break down the biggest headlines of the week—from Anna Wintour’s announcement that she’s stepping down as editor-in-chief to Jonathan Anderson’s buzzworthy debut for Dior Homme in Paris.