Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
KERING shares were beaten on Friday as it fell 10 % after the luxury French giant announced the new creative lead of its largest brand, Gucci.
Demna GvaSalia, the designer born in Georgia, who was the coach of Balenciaga a decade ago, will begin his new role in July and is assigned to guide Gucci during a loud period to recover Mujo.
The very expected appointment was announced on Thursday, a little more than a month after Gucci announced the departure of Sabato de Sarreno, who was a creative president. Only two years old. As a result, Gucci was KERING-under pressure to increase performance and made the relevant maximum maximum brand again in the luxury sector.
Demna, as it is called in the fashion industry, will bring his experience in the KERENCI BALENCIAGA to Gucci, despite the different aesthetics of brands and the public.
“DEMNA’s contribution to industry, in Balenciaga, and the success of the group was enormous. The Chairman and CEO of Kering François-Heenri Pinaut said in statement.
While Stefano Cantino, CEO of PINAULT and Gucci, are confident that this will succeed, he lost the sudden investors. This announcement caused KERING market evaluation of 4.25 billion euros on Friday.
Large shoes to fill
DEMNA in baleciaga is characterized by bold designs. Some of his fashion shows re -depicted the runway in his unique way – for example, 2022 display At the Paris Fashion Week, it was titled Climate Change and the Ukraine War. The brain was behind many unforgettable fashion moments, including 1800 viral dollars Garbage bag“Destroyed” shoes worth $ 1850, and blue $ 2000 IKEA bag Similar.
“Demna has a strong view-Wunderkind was fashionable between 2014-2020-the secret sauce of a brand like Gucci,” wrote Luka Solka, Bernstein SG Luka Solka analyst in a note. He added that DEMNA’s “iconoclast” ideas worked for a small brand like Balenciaga (estimated at two billion euros compared to about 8 billion euros). However, they may not work for a floors brand like Gucci.
“In general, we will give this date 5/10, because we are not sure that DEMNA measures the task, nor is it suitable for Gucci at the present time.”
The former creative directors in Gucci did not come at the same percentage as Demna. De Sarreno was in Valentino before joining Gucci, but not as a creative director, while his predecessor, Alessandro Michel (currently in Valentino) was internally rented.
Demna credit, when he joined Balenciaga in 2015, was able to deserve a small part of what it is today – 390 million euros. He succeeded in growing it into a major brand within the luxury sector, which is adorned by the likes of Kim Kardashian, Serena Williams and Nicole Kidman on the red carpet.
Demna’s time in Balenciaga was also his fair share of conflicts. Holiday campaign 2022, which is characterized by children Protecting side by side Tablet Teddy slapped accusations of abuse children and pornography. Balenciaga apologized for advertising and lowering the elements offered for sale. This scandal affects Balenciaga sales for a short period, especially in the United States
Demna will start in Gucci in July, a little late for the Spring/Summer 2026 width. This means that it will be some time before the fashion industry can check its designs for Gucci.
Many horse riding on Gucci Revival: It is the largest brand and Crown MEWEL. The French company’s sales for the full year decreased by 12 % In 2024With Gucci revenue decreased 23 % to 7.7 billion euros. This is not a good sign for any company, and certainly not for one of the most influential world players amid wider disturbances in this sector.
With Demna set, you can finally see the Gucci fortunes a reflection – or at least this is what Cantino argue.
Cantino told New York Times.
The actors in King no longer return immediately luckRequest to comment.
This story was originally shown on Fortune.com
