Luxury holding group Kering, that owns Balenciaga, Alexander McQueen, Yves Saint Laurent and also Gucci, has recently announced big management changes inside the brand – the departure of chief executive and creative director.
It was one of the top executive couples in fashion industry. Patrizio di Marco and Frida Giannini, that are partners not only in business, were at Gucci for last ten years.
Di Marco was already replaced by Marco Bizzarri on the first day of January. Giannini was support to leave after the presentation of Gucci fall-winter women’s collection, that she’s been working on, but we already know she left last Friday. This is the biggest change in Gucci since 2004, after “losing” Tom Ford.
Gucci has been powerful in the fashion industry for almost a century. But last years were not very lucrative. Many consumers have turned away from Gucci and sales in 2014 slumped by 3.5% comparing to 2013. Kering’s chairman said in an interview “Over the last five-seven years, there has been a great change in the world of luxury in terms of scale and growth, and we are facing the question of how to maintain exclusivity while continuing to grow.” That changes are suppose to bring the brand its former power.
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