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The fall of Gucci was inevitable
  + stars: | 2024-05-03 | by ( Madeline Berg | ) www.businessinsider.com   time to read: +13 min
"We got used to hearing about double-digit growth at Gucci," Fflur Roberts, the head of luxury goods at Euromonitor, told Business Insider. "I think of what a fashion editor is wearing — it's not Gucci," Lindsey Solomon, a fashion publicist, told BI. After taking the top spot on the Lyst Index of fashion's hottest brands in 2022, Gucci dropped to number 11 last quarter. "We still believe the Gucci brand's current growth rate, which is 10 times higher than that of the industry, represents a risk going forward," Morningstar's Sokolova wrote in a 2017 note. Gucci relied heavily on China for its growth, but stores — perhaps including this one in China's Hainan Province — have struggled recently.
Persons: Alessandro Michele's, loafers, Gigi Hadid, Sienna Miller, Steve Madden, ASOS, Sally Singer, Michele, Fflur Roberts, Alessandro Michele, Harry Styles, Billie Eilish, Jared Leto, Kevin Mazur, Bauer, Griffin, Jeff Kravitz, Gucci, Sabato De Sarno, Lindsey Solomon, De Sarno, François, Henri Pinault, China —, Jelena Sokolova, Solomon, Daniele Venturelli, Michele —, Sokolova, It's, Thomas Chauvet, Morningstar's Sokolova, Michele's Gucci, wasn't, Jeremy Moeller, Chauvet, Roberts, Chanel, Gucci's, Gucci hadn't, Hermès, Birkin, Louis Vuitton's Neverfull, Pinault, Louis, Euromonitor's Roberts Organizations: Creative, Gucci, The Recording Academy, Axelle, Morningstar, BI, Citi, Disney, Getty, Revenue, China News Service, Bain, Louis Vuitton Locations: Euromonitor, China, The Asia, Pacific, China's Hainan Province, Asia
Alessandro Michele’s departure as the creative director of Gucci hadn’t yet been announced. By his own account, he struggled to express himself; young, gay and interested in fashion, De Sarno felt out of place. He did stints at Prada and Dolce & Gabbana before, in 2009, making a more permanent home at Valentino in Rome. During his 14-year tenure there, he cycled upward through various departments until he became the label’s fashion director and the right-hand man of its creative director, Pierpaolo Piccioli. Recently, Gucci announced that the company will relocate the design office from Rome to Milan, where De Sarno feels most at home.
Persons: Sabato De Sarno, Alexander McQueen, Balenciaga, Saint Laurent, , Alessandro Michele’s, Gucci hadn’t, ” De Sarno, Maria, Raffaele, De Sarno, Pierpaolo Piccioli, Gucci, , “ It’s, Sabato, “ I’m, , I’ll Organizations: Gucci, Istituto, Prada, Dolce, Gabbana Locations: Kering, Bottega, Cicciano, Italy, Naples, Milan, Valentino, Rome
NEW YORK (AP) — Ever-present on the lips of Taylor Swift and the uniforms of both Super Bowl teams. The color red has gone boom as loud as TNT. The phenom that is Taylor Swift at boyfriend Travis Kelce's Kansas City Chiefs games was a red-hued wonder of a lead-up to Super Bowl LVIII. You can wear red accessories to add color to a more neutral look or throw on a red lip or red nail polish. THE RED VS. RED SUPER BOWLThe 49ers have some skin in the red fashion game, too, in running back Christian McCaffrey's fiancee, Olivia Culpo, and in Kristin Juszczyk, fullback Justin Juszczyk's wife.
Persons: Taylor Swift, Trav, Travis Kelce's, We've, we've, Pat McGrath, , Laurie Pressman, Stuart Semple, Erin Jaeger, it’s, Christian McCaffrey's, Olivia Culpo, Kristin Juszczyk, Justin Juszczyk's, Kristin, Jaeger, I’m, Sabato De Sarno, Gucci Rosso, ” Jaeger, Bianca Betancourt, Semple, Anish Kapoor, It's, , Geothe, Michel Pastoureau's Organizations: Super Bowl, TNT, Travis Kelce's Kansas City Chiefs, Media, Chiefs, San Francisco 49ers, Pat McGrath Labs, FOOTBALL AS, North America, 49ers, Swift, Vogue Locations: Taylor, British, North, Paris, Milan, China, India
This yellow coat and matching hat channeled fisherman chic at SS Daley. Giovanni Giannoni/WWD/Getty ImagesA seafaring element was evident in the collection at Emporio Armani too. To complement the sleek lines of suits came long coats in fine wool and leather that were part “Bladerunner,” part “Matrix” and part ode to the 1990s. The brooch is back, pinned to lapels at S.S. Daley, Magliano, Emporio Armani and Dolce & Gabbana. Functional, useful and classic, as above at Emporio Armani, were the key themes of the season in Milan.
Persons: Milan, Miuccia Prada, Raf Simons, Simons, officewear, Victor Virgile, , Daley, Giovanni Giannoni, Emporio Armani, Steven Stokey Daley, Harry Styles, Silvia Venturini Fendi, Anne, Britain's Princess Anne, Alessandro Levati, ” Fendi, Princess Royal, , chunky knitwear, Neil Barrett, British Harris, Brunello, , JW Anderson, Justin Shin, tailcoats, Stefano Gabbana, Domenico Dolce, Gabbana, Stefania D'Alessandro, Sabato de Sarno, Tom Ford, Sabato de, Gucci, Daniele Venturelli, de Sarno, Magliano, Massimo Giorgetti, Franco Albini, Gabanna, Armani Organizations: Milan CNN, Prada, CNN, Balmoral, Gabbana, Gucci, Dolce, Milan Metro, diamante Locations: Milan, British, Florence, Wellington, S.S, Saltburn, Italy
MILAN (AP) — Hot off Taylor Swift’s Golden Globe red-carpet triumph for Gucci in glittering green, the Italian brand’s creative director plunged into his menswear debut on the first day of Milan Fashion Week on Friday with somewhat shimmery, slightly subversive classics. The logo was sparing: Gucci was emblazoned in subtle raised letters on leather bags, the double-G logo appeared as repeating patterns on slim suits and the Gucci stripe inside coat slits. Bondage touches came in trailing silk ties fastened around the neck with silver hardware and half gloves in leather. The power of pairing was best displayed in a shirtless look with straight trousers, the double-G belt drifting to the hip. With a versatile sporty-to-tailored-to-dance floor silhouette, the collection was blinged up with kaleidoscopic crystal-covered tanks or trousers, or shimmery shaggy lurex coats that mix light and motion.
Persons: Taylor, Gucci, Sabato De Sarno’s, , De Sarno, sequins, ’ De Sarno, Elliot Page, Idris Elba, Sabrina Elba Organizations: MILAN, Globe Locations: Italian, Milan
Gucci staff strike over plans to relocate to Milan
  + stars: | 2023-11-29 | by ( Christy Choi | ) edition.cnn.com   time to read: +3 min
CNN —Dozens of employees at Italian fashion house Gucci staged a strike on Monday to protest the company’s decision to move its design office from Rome to Milan. CGIL has argued that asking staff to move to Milan, approximately 300 miles north of the capital, in the first half of 2024 was tantamount to laying them off. Alessandro Garofalo/ReutersFollowing the departure of creative director Alessandro Michele in 2022, Gucci owner Kering shook up the label’s top management. While sales of luxury goods were on a tear earlier in the year, the market cooled in the second half of 2023. The designer gave the old Gucci codes a refresh sending babydoll dresses, tailored short suits, fringed skirts, hoodies and bejeweled knitwear down the runway.
Persons: Gucci, CGIL, , Gucci’s, Sabato De Sarno, Alessandro Garofalo, Alessandro Michele, Kering, Valentino, Marco Bizzarri, Jean, François, Yves, Yves Saint Laurent, Bottega, ” Gucci, De Sarno, “ Gucci Ancora ”, , Julia Roberts, Ryan Gosling, Jessica Chastain, Kendall Jenner, Julia Garner, bejeweled Organizations: CNN, Reuters, Yves Saint, Gucci Locations: Rome, Milan, Bottega Veneta, Balenciaga
Morning Bid: China spends, eyes on whether Europe lends
  + stars: | 2023-10-25 | by ( ) www.reuters.com   time to read: +2 min
[1/2] A China yuan note is seen in this illustration photo May 31, 2017. Microsoft (MSFT.O) and Google parent Alphabet (GOOGL.O) each beat forecasts, but their share prices went in opposite directions as investors zeroed in on cloud computing. On the luxury front Kering (PRTP.PA), owner of Gucci and Balenciaga, reported a bigger-than-expected drop in third-quarter sales. Gucci's revamped look, unveiled last month in Milan by designer Sabato De Sarno, is yet to hit stores. European loans data and a survey of German business conditions will be closely watched later on Wednesday.
Persons: Thomas White, Tom Westbrook, Gucci, Balenciaga, LVMH, Birkin, Gucci's, Sabato De Sarno, Michele Bullock, Sam Holmes Organizations: REUTERS, Giants, Microsoft, Google, Nasdaq, Facebook, . Santander, Deutsche Bank, Dassault, Dassault Systemes, CME Group, Hilton, Boeing, IBM, Meta, Thomson Locations: China, Asia, Milan, Japan
Milan CNN —Milan Fashion Week picked up where London left off last Wednesday, at least weather-wise. Both hit their strides with highly well received collections, as did a number of other familiar faces to Italy’s fashion capital. Overall, however, the festivities showed a consistency of form that continues to make the Italian city Paris’s greatest rival to the fashion scene throne. Cinematic sets and performative showsAlongside the clothes, many brands made their sets a main talking point at fashion week. Lodovico Colli di Felizzano/WWD/Getty ImagesRyan Gosling and Juila Roberts were among the star-studded crowd to pile into the Gucci show.
Persons: Milan, Gucci, Sabato de Sarno, Tom Ford’s, Peter Hawkings, Ford’s, Versace, Giulio Tanzini, Julia Roberts, Ryan Gosling, Gabrielle Union, Jessica Chastain, Paul Mescal, Jodie Comer, Emma Watson, Scarlett Johansson, Benedict Cumberbatch, Prada, Kate Moss, Linda Evangelista, Naomi Campbell, Anna Wintour, Kim Jones, Karl Lagerfeld, Rome, Tom Ford, georgette, Brigitte Bardot, Priscilla Presley, Lorenzo Serafini, Max Mara, Ian Griffiths, Carlyne Cerf, Dudzeele, Katie Grand, Lucia Liu, Gabriella Karefa, Johnson, Franco, Jeremy Scott, Cerf, Lucia Liu’s, Donatella Versace, Kendall Jenner, Gigi Hadid, Natalia Bryant, Precious Lee, Claudia Schiffer, lacy, Simone Bellotti, Francesca Murri, Matthieu Blazy, Blazy, Italy —, , Paolo Fichera, Cavalli, Fendi, Shawn Kolodny, Pietro S, Beate Karlsson, Avavav, Sabato de Sarno's, Gregoire Avanel, Tom Ford's, Gaspar Ruiz, Pietro D'Aprano, Mattieu, Alfonso Catalano, Kim Jones nodded, Fendi Jones, Daniele Venturelli, Zakirova, Lodovico Colli di, Juila Roberts, Roberto Cavalli, Isidore Montag Organizations: Milan CNN — Milan, London, Bottega Veneta, Diesel, Prada, Britain’s Land Army, Dolce, Gabbana, Bally, Fondazione Prada, Accademia di Brera, Getty, Gucci Locations: British, Milan, Bottega, Hollywood, Fendi, organza, Los Angeles, Cannes, Bottega Veneta, Italy, French, Belgian, , Missoni, Milan’s, Sunnei, Stockholm
The Great Gucci Reset Is Here
  + stars: | 2023-09-23 | by ( Vanessa Friedman | More About Vanessa Friedman | ) www.nytimes.com   time to read: +1 min
Sabato De Sarno, the designer who was essentially unknown outside the industry until he was handed the keys to the $10 billion Gucci kingdom earlier this year and tasked with reinventing a brand that had already been reinvented twice before — once by Tom Ford, as a uniform for sultry power players and then again by Alessandro Michele as a big-tent haven for fashion freakazoids high and low — called his first collection “Ancora.”That translates literally as “again.” But, he said in an interview a few weeks before the show, not again as in a retread, like “play it again, Sam” but as the “again, again, again” of desire: the feeling that, when you find something you love, you can never get enough. The feeing that, presumably, Gucci sparked in him, and that he (and his bosses) were hoping his Gucci would spark in consumers. The word was plastered all over posters around Milan teasing the show, on the invitations in a new Gucci burgundy red known as Ancora red and on the sleeve of a vinyl record for the after-party. It was hard to escape.
Persons: Sabato De Sarno, , Tom Ford, Alessandro Michele, Sam ”, Gucci Organizations: Gucci Locations: Milan
Yet, if Gucci’s new designer Sabato de Sarno was rattled before he took his bow for the Italian luxury house at Milan fashion week on Friday, he didn’t show it. Where Michele was an overt maximalist with retro references, de Sarno mined the Gucci archive and codes in a more stripped-back way. Oxblood red dominated the collection, inspired by The Savoy hotel in London where Guccio Gucci worked in the late 1800s. The bling was, in fact, a reference to the Marina jewelry collection that appeared in Gucci campaigns in the late 1960s. The rest of the embellished crystal designs were inspired by embroideries de Sarno found on 1960s clutch bags in the Gucci archive.
Persons: Milan, Sabato de Sarno, Alessandro Michele’s, De Sarno, Julia Roberts, Ryan Gosling, Jessica Chastain, Kendall Jenner, Julia Garner, Francois, Henri Pinault, Swan, Gucci Ancora ”, , de Sarno, Prada, Gabbana, Valentino, Michele, Jackie, , Guccio Gucci, Daniele Venturelli, “ Rosso Ancora, , Sabato De Sarno, Gucci, Kering, Daria Werbowy, Tom Ford Gucci, embroideries de Sarno Organizations: Milan CNN, Brera, Gucci, Dolce Locations: Milan, , Savoy, London, Naples
Milan, Italy CNN —A new dawn rose in Milan on Thursday evening as British designer Peter Hawkings made his hotly anticipated debut in the creative director chair at Tom Ford. Hawkings said the show was a moment he felt like he'd been preparing for "my entire life." “Tom handing over the baton obviously meant everything to me.”Ford's high-octane sex appeal was still present in this collection, designed by Hawkings. “It was important for (the Tom Ford) woman (to) come closer to the man, because I think there was a disconnect before.… due to Tom being in LA and the design team being here. Claudia Greco/ReutersThe decision to kick-start the Hawkings era in Milan made “total sense” he said.
Persons: Italy CNN —, Peter Hawkings, Tom Ford, Hawkings, Ford, Estee Lauder, Sharp, Claudia Greco, backless, Gwyneth Paltrow, he'd, Tom, , Louise Wilson, “ He’s, Reuters Hawkings, Whitney Bromberg, Donyale Luna, Andy Warhol, Richard Avedon, ” Bromberg, “ It’s, Gucci, Gucci’s, Sabato De Sarno, Tom Ford’s Gucci, , I’ve Organizations: Italy CNN, Ford, Gucci, MTV, Central Saint Martins, Reuters, womenswear, Detroit -, Milan Fashion Locations: Milan, Italy, Central, London, LA, Detroit
"Gucci is the opportunity to fall in love with fashion, ancora," De Sarno said in a post on Instagram in the run-up to the show, using the Italian word for "again." Debut collections can generate mixed reactions, and even positive press reviews are not always a proxy for their future commercial success. Kering shares closed 1.5% higher after the show. At their current price, Kering shares are trading at the equivalent of around 14 times expected earnings over the next 12 months, according to LSEG data. Reporting by Mimosa Spencer and Elisa Anzolin, editing by Silvia AloisiOur Standards: The Thomson Reuters Trust Principles.
Persons: Sabato De Sarno, Kering, De Sabato, Kenneth Richard, Federico Giglio, Giglio.com, Gucci, De Sarno, De, Antoine Belge, Francois, Henri Pinault, Julia Roberts, Ryan Gosling, Louis, Dior, Alessandro Michele, Marco Bizzarri, Jean, Hermes, Mimosa Spencer, Elisa Anzolin, Silvia Aloisi Organizations: luxe, Reuters, Exane BNP, fashion's, Louis Vuitton, Moncler, Thomson Locations: Milan, Italy, New York, Chengdu, Bangkok, London, Brera
THIS IMAGE MAY OFFEND OR DISTURB Model Vittoria Ceretti presents a creation from the Tom Ford Summer 2024 collection designed by Peter Hawkings, during Fashion Week in Milan, Italy, September 21, 2023. REUTERS/Claudia Greco Acquire Licensing RightsMILAN, Sept 22 (Reuters) - British designer Peter Hawkings made his Tom Ford debut at Milan Fashion Week late on Thursday, offering an array of sleek suits, slinky dresses and towering stilettos for women next summer. Models wore fitted trouser suits as well as jackets paired with tiny matching shorts, figure-hugging long frocks and short leather dresses. Hawkings was named creative director at the fashion house in April, taking over from American fashion designer Tom Ford, who founded the eponymous brand in 2005 after leaving Italian luxury label Gucci. Milan Fashion Week runs until Monday.
Persons: Vittoria Ceretti, Tom Ford, Peter Hawkings, Claudia Greco, Hawkings, Donyale Luna, Andy Warhol, Richard Avedon, Gucci, Sabato De Sarno, Marie, Louise Gumuchian, Miral Organizations: REUTERS, Milan Fashion, Thomson Locations: Milan, Italy, British, Detroit
De Sarno’s debut Friday, nine months after being hired in the wake of Michele’s surprise departure, was the most anticipated on the Milan Fashion Week calendar for next spring and summer womenswear. The fervor was enough to fill the front row with Hollywood A-listers including Julia Roberts and Ryan Gosling. In one recent interview, De Sarno professed admiration for Brutalist architecture, suggesting a love of the essential, and his collection was exactly that. A tiny leather bra top in embossed leather was paired with a matching midi skirt. The conversation started this week by De Sarno is to be continued.
Persons: — Sabato De Sarno, Gucci —, “ Gucci Ancora, “ Gucci, De Sarno, Alessandro Michele, Sarno’s, Julia Roberts, Ryan Gosling, Tom Ford, Guccio Gucci, De, tinsel, Organizations: MILAN, Prada, Dolce, Gabbana, Milan, Hollywood, Gucci Locations: Valentino, London, Brera
Fendi kicks off Milan's womenswear week with Roman ease
  + stars: | 2023-09-20 | by ( ) www.reuters.com   time to read: +2 min
MILAN, Sept 20 (Reuters) - Milan kicked off its catwalk calendar on Wednesday, with Italian luxury label Fendi exploring the "ease of dressing with a certain Roman freeedom" at its womenswear fashion show. Milan Fashion Week follows New York and London events in which designers have been presenting their creations for spring/summer 2024. A patchwork of fabrics recreated Fendi's F logo on coats and dresses through "a playful and abstract exploration" of the symbol Karl Lagerfeld created in 1966, a year after joining the Roman brand as creative director. Milan Fashion Week includes 62 physical fashion shows of spring summer collections. Milan fashion week will mark the debut of Sabato De Sarno as creative director of Gucci, Peter Hawkings as creative director of Tom Ford, and Simone Bellotti as creative director of Bally.
Persons: Kim Jones, mohair, Karl Lagerfeld, Fendi, Jones, Giorgio Armani, Prada, Versace, Sabato De Sarno, Gucci, Peter Hawkings, Tom Ford, Simone Bellotti, Elisa Anzolin, Valentina Za Organizations: Milan, New, Bally, Thomson Locations: New York, London, Fendi, Rome, Milan
MILAN/PARIS, Sept 19 (Reuters) - Gucci creative director Sabato De Sarno takes to the runway in Milan on Friday, in a high-stakes designer debut for the Italian label’s owner, French luxury group Kering (PRTP.PA). De Sarno’s Gucci catwalk presentation – one of the industry’s most highly-anticipated shows this year – will serve as an aesthetic reset for the brand, aimed at reigniting sales, but it is also the first major test of a sweeping overhaul at Kering. The group has also taken steps to broaden its revenue sources, announcing plans to buy high end perfumer Creed in June and a 30% stake in fashion label Valentino in July. “We don’t think that a margin reset would be badly received by the market,” said Carole Madjo, analyst with Barclays. Reporting by Mimosa Spencer and Elisa Anzolin Editing by Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.
Persons: Gucci, Sabato De Sarno, De Sarno’s Gucci, Valentino, Louis, Jean, Francois Palus, Marco Bizzarri, De Sarno’s, Bizzarri, Alessandro Michele, De Sarno's, Sabato De Sarno's, , Carole Madjo, Daria Werbowy, Luca Solca, Bernstein, Mimosa Spencer, Elisa Anzolin, Tomasz Janowski Organizations: MILAN, Louis Vuitton, Dior . Group, Gucci, RBC, Barclays, De, Thomson Locations: PARIS, Milan, Kering
After seasons of relative calm and predictability (some might say stultifying sameness), Milan has become the city to watch, with the two debuts of the season. First up: Sabato De Sarno at Gucci. Then there’s Peter Hawkings, another longtime deputy, who became the creative director of Tom Ford in April after the brand was sold to Estée Lauder and Mr. Ford stepped down. Mr. Hawkings worked beside Mr. Ford for decades, and judging by his official portrait, is very much in the mold of his mentor (down to the tinted aviators). The result is pretty much guaranteed to remind of us what we lost when we lost the very talented Mr. Moschino at only 44 in 1994 and why brand founders really matter.
Persons: Sabato De Sarno, Gucci, Valentino, Alessandro Michele, Peter Hawkings, Tom Ford, Estée Lauder, Ford, Hawkings, Jeremy Scott, — Katie Grand, Carlyne Cerf, Dudzeele, Gabriella Karefa, Johnson, Lucia Liu —, Moschino Organizations: Mr Locations: Milan
Kering dons Valentino scent to ease Gucci malaise
  + stars: | 2023-07-28 | by ( Lisa Jucca | ) www.reuters.com   time to read: +3 min
Adding the maker of pricey Rockstud bags could help it reduce its dependency on tottering star brand Gucci. Kering’s stake purchase values the whole brand at 5.7 billion euros, or 16 times its EBITDA of 350 million euros last year. Kering will pay 1.7 billion euros for the stake in cash. Valentino had revenue of 1.4 billion euros and a recurring EBITDA of 350 million euros in 2022. Kering’s star brand Gucci rose just 1% on an organic basis.
Persons: Henri Pinault, Valentino, Gucci, Valentino Garavani, LVMH, Sabato De Sarno, Alessandro Michele, Marco Bizzarri, Kering, George Hay, Streisand Neto, Oliver Taslic Organizations: MILAN, Reuters, Thomson
SEOUL, May 16 (Reuters) - With sparkling lights and beating drums, Italian luxury label Gucci took over a 14th century Seoul Palace on Tuesday to showcase its cruise collection, blending Korean heritage and modern fashion. The show, featuring the soundtrack of Oscar-winning South Korean movie "Parasite" during its finale, was the first of its kind to take place within the palace's courtyard. The Gucci cruise show follows a Louis Vuitton pre-fall fashion show on a Seoul bridge in April. Built in 1395, the Gyeongbokgung palace served as the main royal palace of Korea's Joseon dynasty. The South Korean national treasure became the latest iconic landmark chosen by Gucci to showcase its collection.
[1/2] A model presents a creation from the Gucci Fall/Winter 2023/2024 collection during Fashion Week in Milan, Italy, February 24, 2023. One model wore a crumpled shirt tucked into a miniskirt, others were dressed in coats with voluminous shoulders. At Tod's (TOD.MI), creative director Walter Chiapponi offered a sober collection in earthy tones that played with tailoring. Models wore pea coats as well as long oversized coats, and also appeared in parkas and cropped aviator and elongated bomber jackets. Reporting by Marie-Louise Gumuchian in London and Elisa Anzolin in Milan Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.
[1/2] A man looks at a window display outside a Gucci store, part of the Kering group, at Tsim Sha Tsui shopping district in Hong Kong January 17, 2013. But while Gucci, which accounts for the bulk of profits and revenues at Kering, was the only brand to post a fall in sales, analysts said other labels too posted lower-than-forecast results. Kering said sales fell by 15% in North America in the fourth quarter and by 19% in Asia Pacific. But the situation has been more complicated for Kering, since Gucci relies more heavily on China than competitors. LVMH's fashion and leather goods division, home to Louis Vuitton and Dior, grew sales by 10% over the fourth quarter.
PARIS, Jan 30 (Reuters) - Sabato De Sarno, newly appointed by Kering (PRTP.PA) to reinvigorate its prized Gucci brand, needs to spark heat with a new direction, analysts say - a delicate task, given the emphasis executives have also put on the label's timeless appeal. De Sarno, a senior fashion designer from Valentino, is tasked as creative director with reviving the fortunes of the brand that accounted for two-thirds of Kering's profits in 2021. Analysts welcomed Kering's choice of a seasoned but relatively unknown designer, noting that previous creative director Michele did not have a public profile when he was appointed in 2002. His experience at Valentino suggests a "less eccentric aesthetic" than Gucci's previous designer, noted Carole Madjo of Barclays. The designer rose through Valentino's ranks after his arrival in 2009 to become fashion director overseeing both the men's and women's collections, working closely with chief designer Pierpaolo Piccioli.
New Gucci designer has big sneakers to fill
  + stars: | 2023-01-30 | by ( ) www.reuters.com   time to read: +2 min
MILAN, Jan 30 (Reuters Breakingviews) - Gucci’s new creative head Sabato De Sarno is stepping onto a wobbly catwalk. François-Henri Pinault’s conglomerate Kering (PRTP.PA) on Saturday picked the 39-year-old from smaller fashion house Valentino to lead its biggest brand and succeed star designer Alessandro Michele, who left abruptly in November. Michele’s daring designs, which he applied lavishly on anything from shirts to sneakers, helped Gucci sales shoot up to nearly 10 billion euros in 2019. But at around 10.5 billion euros in 2022, Gucci sales are expected to have risen only 10% since then. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
PARIS, Jan 28 (Reuters) - French luxury goods group Kering (PRTP.PA) has appointed Sabato De Sarno, a senior fashion designer at Valentino, as creative director of its top brand Gucci, it said on Saturday. "I am touched and excited to contribute my creative vision for the brand.”He will present his debut Gucci runway collection at Milan Women's Fashion Week in September 2023. Gucci CEO Marco Bizzarri said that having worked with a number of Italy's most renowned luxury fashion houses, De Sarno "brings with him a vast and relevant experience." "Gucci - and the Kering shareholders - need courage and an original point of view." "The eyes of the world will be on him to see if he also has the required creative genius."
Gucci Names Sabato De Sarno as New Creative Chief
  + stars: | 2023-01-28 | by ( Nick Kostov | ) www.wsj.com   time to read: 1 min
Gucci’s sales growth has lagged behind some of its main rivals in recent years. PARIS—Fashion house Gucci appointed Sabato De Sarno as its new creative director, seeking to reinvigorate the storied Italian brand after a period of rapid growth petered out. Mr. De Sarno, 39 years old, began his career at Prada SpA before working for Dolce & Gabbana Srl. He then joined Valentino SpA in 2009, where he held positions of increasing responsibility. He was most recently fashion director at Valentino, overseeing both men’s and women’s collections.
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