Kering See Profile
Analysts called Demna a “risky pick for much larger label Gucci with its reputation for timeless elegance.”
The Georgian designer, known for retro-glamour and satirical motifs, has departed after nearly a decade at the brand.
Kering continues to face headwinds after Gucci faces one of its biggest drops since Creative Director Sebato De Sarno’s leadership.
Sources indicate that Blazy will take on the role of creative director at Chanel.
As the global luxury slowdown continues to choke sales at the biggest luxury labels.
Overall, Kering’s sales were down 11% in the six-month period.
As Gucci’s sales plunge amid economic headwinds and new leadership.
The luxury conglomerate’s market capitalization declined by approximately €7.9 billion EUR, as Gucci sees steep sales declines in key markets.
The multinational luxury conglomerate saw sales decline by 6% in the fourth quarter of last year.
Gucci, the group’s largest brand, saw sales fall by 14% at reported exchange rates.
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