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