All the fashion world’s power and malaise was concentrated in the Place Vendôme on Sunday night, where Anna Wintour’s third-annual Vogue World served as a veritable pre-Opening Ceremony for the forthcoming Paris Olympics, which owe their existence, in part, to LVMH, a principal sponsor of the Games and the second-largest company in Europe (after Novo Nordisk, the maker of Ozempic). The event, itself, a sort of magazine spread come to life, featured a series of Parris Goebel-choreographed vignettes depicting a Parisian fantasy—there was a fencing team, equestrians on horseback (Gigi Hadid and Kendall Jenner), cater-waiters pirouetting with silver trays in hand, and flappers pseudo-smoking as they glided around the Colonne d’Austerlitz. Woven into the dance routines were looks (on 151 models, plus athletes) from Paris-based brands. Katy Perry and Sabrina Carpenter walked. Diplo was in charge of the music.