Stock Market

Kering appoints De Sarno as Gucci’s creative director.

(Reuters) – PARISSABATO De Sarno, a senior fashion designer at Valentino, has been named creative director of Kering’s top brand Gucci, the company said on Saturday.

At Gucci, he will be in charge of turning around the brand’s fortunes. In 2021, Gucci made up two-thirds of Kering’s profits, but it has been losing steam in recent years after years of strong growth.

De Sarno began his career in 2005 at Prada (OTC: PRDSY). He then moved to Dolce & Gabbana before joining Valentino in 2009. At Valentino, he held several positions before being named fashion director for both men’s and women’s collections, working closely with chief designer Pierpaolo Piccioli.

“I’m proud to be a part of a House with such a rich history and heritage, which has been able to welcome and protect the values I believe in over the years. In a statement from Kering, De Sarno said, “I am touched and excited to bring my creative vision to the brand.”

In September 2023, during Milan Women’s Fashion Week, he will show his first Gucci collection.

Gucci’s CEO, Marco Bizzarri, said that De Sarno “brings with him a lot of relevant experience” from working with some of Italy’s most famous luxury fashion houses.

Sources told Reuters that Alessandro Michele, the former creative director of Gucci who was known for his flamboyant and gender-fluid styles, left the job suddenly in November after seven years because of problems with Kerning’s top management.

Between 2015 and 2019, he and Bizzarri were in charge of Gucci’s skyrocketing growth. Between 2015 and 2019, the company’s profits nearly quadrupled to just under 10 billion euros ($10.9 billion), and its sales almost tripled.

But in recent quarters, Gucci had started to fall behind competitors like Hermes and LVMH’s top brand, Louis Vuitton. Its performance in the important Chinese market was starting to worry investors because of COVID-19 lockdowns.

($1 = 0.9202 euros)

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button