What's Next

In the always unpredictable rag trade, forecasting the next "It" designer can be like playing the lottery. But when a designer has a solid business model, political savvy, and undeniable talent, placing a bet becomes less of a crapshoot. Taking these factors into account, we scoured the globe to bring you our list of labels that will resonate in 2008 and beyond.

Now that Stella McCartney's eponymous label is turning a profit, the designer has secured a spot in the elite international circle in which her English peers Galliano and McQueen already are holding court. And another British fashion invasion may loom on the horizon: Gareth Pugh, a leader in London's creative renaissance, has been beguiling journalists with his outlandish, intricately constructed PVC concoctions. And though his pieces are largely unwearable, Pugh receives wide editorial coverage and shows tremendous promise.

If Pugh is McQueen-lite, then Christopher Kane is the second coming of Gianni Versace. This year, Kane threw a curveball with his s/s '08 collection, thoughtfully adapting his signature polychromatic and lascivious dresses into a more wearable collection that yielded girlish, layered, sophisticated pieces with friendly silhouettes. Swiss Textiles Award-winner Marios Schwab's interests in the body manifested in his use of graphic thermal and muscle-tissue prints, rib-like pin-tucking, and inventive bodices resembling otherworldly skeletons. Speaking of graphics, Jonathan Saunders has been using gradations of ultra-bright color as a runway shock tactic for years, and his strong s/s '08 collection finally caught Bergdorf Goodman's eye. (The New York retail institution traditionally buys on the safer side.) Meanwhile, Stuart Vevers — who was instrumental in rescuing Mulberry from bankruptcy in 2005 by modernizing the staid English brand — works his magic on the aesthetically ailing Spanish house Loewe this January. At Mulberry, though, Vevers' post is currently empty — uber-stylist Katie Grand was offered the position, but she declined.

In New York, where charming both editorial and retail fans can be difficult, Erin Fetherston makes it look easy. She's got a coterie of celebrity friends; she was nominated for a CFDA Vogue Fashion Fund award; Anna Wintour gave an approving smile at her s/s '08 show; and Barneys New York invested in her honest, whimsically girly collection. With this much support so early in her career, Fetherston looks to be a Diane von Furstenberg in the making. Similarly, Kate and Laura Mulleavy of Rodarte have both the editorial and retail fronts covered, counting Wintour and her Vogue-ettes as fans, while retailers pay upfront when they place their orders.

Ohne Titel, by Helmut Lang and Karl Lagerfeld alums Alexa Adams and Flora Gill, garnered a profile in Vogue, and its deftly constructed s/s '08 collection consisted of sophisticated knitwear. Fellow Lang alum Kostas Murkudis traveled to New York from Berlin with a passionate mix of sartorial trickery and fine craftsmanship — his was one of the best collections of the season. Down under in Melbourne, Australia, conceptual luxurist Material by Product innovates with tattooed fabrics, lace-blotted dresses, and intricate, asymmetrical pleating. Veronique Branquinho has been quietly gaining on the success of more-seasoned Belgians (Demeulemeester, Martin Margiela, and Dries Van Noten), with reliably modern ensembles and clean, torso-slimming cotton shirts.

In Milan, Robert Rimondi and Tommaso Aquilano of 6267 propose a quiet kind of luxury with subtle hints of the avant-garde. Their s/s '08 collection was so simple and exquisite that Wintour invited them to New York so that she could see the collection. Meanwhile, Albino D'Amato is reviving Milan's dying art of couture with his rich, architectural dresses. Bottega Veneta's Tomas Maier churns out delightfully sober, rigorously crafted, and simply beautiful dresses, menswear, and leather goods — they're a minimal antidote to the much-hyped Gucci and Louis Vuitton collections.

In Paris, Alber Elbaz — who single-handedly steered women's fashion into the realm of dark romanticism a few seasons back — has elevated the house of Lanvin with his heart-stoppingly gorgeous collections. Lucas Ossendrijver is en route to do the same thing for menswear with his casual, slightly sensitive, sophisticated take on masculinity. When Kris van Assche took over for Hedi Slimane at Dior Homme, he ruffled some feathers with his intimidating debut silhouette — but when the dust settled, many industry pundits lauded Assche for the new look. Olivier Theyskens' varied collection at Nina Ricci is a sign that he's ready to take his obvious talents outside of the ball-gown circuit.

Finally, after leaving Emanuel Ungaro in 2005 to start his eponymous line, Giambattista Valli has figured out a much simpler formula for womenswear: use the most exquisite fabrics in ensembles that make women look irresistibly ravishing. In just a few short years, the gregarious Italian in Paris has courted global-style pace-setters like Astrid Munoz, Mischa Barton, and the Olsen twins. Now that Valentino is officially retired, Valli has the goods to take his place.

-Robert Cordero