Alessandro Michele leaves Gucci after seven years as creative director
Alessandro Michele is leaving his role as creative director of Gucci.
The French group Kering, owner of Gucci among other luxury brands, has announced his departure on Wednesday. Michele has held the position since 2015.
In a statement, Kering Chairman and CEO Francois-Henri Pinault thanked Michele for his seven-year term. "His passion, imagination, ingenuity and culture put Gucci center stage where it belongs," he said.
Kering did not reveal who will succeed Michele, who left effective immediately.
Sponsored by Gucci CEO Marco Bizzarri, Michele's appointment from head of accessories to director creative in 2015 came as a shock to the fashion industry.
However, it quickly helped drive a period of strong growth and rekindled the buzz around the luxury Italian fashion house.
Gucci's revenue nearly tripled during his tenure, from 3.9 billion euros in 2015 to 9.7 billion euros in 2021. At times, quarterly growth rates approached 50%.
With an appreciation of the Italian house's history, Michele merged the historical signatures of Gucci av ec a more modern aesthetic.
Its gender-fluid approach (since 2017, Gucci has presented men's and women's collections together) and the use of an eclectic cacophony of prints, colors and textures has attracted a new generation of young consumers in Europe, the United States and China.
Loafers with fur lining -bit material and shoulder bags adorned with the double G logo quickly went viral.
During his reign, he attracted legions of celebrity fans, including Lady Gaga, Beyoncé, Billie Eilish, Dakota Johnson and Jodie Turner-Smith.
However, since 2017 the pace of revenue growth has steadily declined.
In October 2021, it was revealed that sales rose 3.8% in the third quarter, below analysts' expectations.
Insiders blamed brand fatigue alongside pandemic effect , especially in key markets like Asia.
Compared to other luxury competitors including LVMH and Hermès, Kering stock underperformed.
Gucci's efforts to combat this decline included scaling back its annual trade show schedule, ending its annual cruise and pre-fall collections.
< p class="dcr-18sg7f2">The fashion house has also embarked on a series of collaborations with unexpected brands such as Adidas and a "Hacker Project" with Balenciaga.< /p>In 2017, Harry Styles was named Gucci Ambassador. He has appeared in several campaigns and just released a collaborative collection this month called Ha Ha Ha.
Alessandro Michele is leaving his role as creative director of Gucci.
The French group Kering, owner of Gucci among other luxury brands, has announced his departure on Wednesday. Michele has held the position since 2015.
In a statement, Kering Chairman and CEO Francois-Henri Pinault thanked Michele for his seven-year term. "His passion, imagination, ingenuity and culture put Gucci center stage where it belongs," he said.
Kering did not reveal who will succeed Michele, who left effective immediately.
Sponsored by Gucci CEO Marco Bizzarri, Michele's appointment from head of accessories to director creative in 2015 came as a shock to the fashion industry.
However, it quickly helped drive a period of strong growth and rekindled the buzz around the luxury Italian fashion house.
Gucci's revenue nearly tripled during his tenure, from 3.9 billion euros in 2015 to 9.7 billion euros in 2021. At times, quarterly growth rates approached 50%.
With an appreciation of the Italian house's history, Michele merged the historical signatures of Gucci av ec a more modern aesthetic.
Its gender-fluid approach (since 2017, Gucci has presented men's and women's collections together) and the use of an eclectic cacophony of prints, colors and textures has attracted a new generation of young consumers in Europe, the United States and China.
Loafers with fur lining -bit material and shoulder bags adorned with the double G logo quickly went viral.
During his reign, he attracted legions of celebrity fans, including Lady Gaga, Beyoncé, Billie Eilish, Dakota Johnson and Jodie Turner-Smith.
However, since 2017 the pace of revenue growth has steadily declined.
In October 2021, it was revealed that sales rose 3.8% in the third quarter, below analysts' expectations.
Insiders blamed brand fatigue alongside pandemic effect , especially in key markets like Asia.
Compared to other luxury competitors including LVMH and Hermès, Kering stock underperformed.
Gucci's efforts to combat this decline included scaling back its annual trade show schedule, ending its annual cruise and pre-fall collections.
< p class="dcr-18sg7f2">The fashion house has also embarked on a series of collaborations with unexpected brands such as Adidas and a "Hacker Project" with Balenciaga.< /p>In 2017, Harry Styles was named Gucci Ambassador. He has appeared in several campaigns and just released a collaborative collection this month called Ha Ha Ha.
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