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Alessandro Michele is relinquishing his role as Creative Director of Gucci.
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French conglomerate Kering, which owns Gucci among other luxury brands, announced its departure on Wednesday. Mitchell has held the role since 2015.
one in StatementFrançois-Henri Pinault, Kering’s chairman and chief executive, thanked Michel for his seven-year tenure. “Their passion, their imagination, their ingenuity and their culture put Gucci at the center where it belongs,” he said.
Kering has not disclosed who will replace Mitchell, who leaves with immediate effect.
Backed by Gucci CEO Marco Bizzarri in 2015, Michele’s elevation from head of accessories to creative director came as a shock to the fashion industry.
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However, he helped drive a period of increasingly strong growth and reignited excitement around the luxury Italian fashion house.
revenue at gucci almost triple during his time in the role, from €3.9bn in 2015 to €9.7bn in 2021. At times, the quarterly growth rate reached 50%.
With an appreciation of the Italian house’s history, Michele combined heritage Gucci signatures with a more modern aesthetic.
Their gender-fluid approach (since 2017, Gucci has presented men’s and women’s collections together) and use of an eclectic cacophony of prints, colors and textures have attracted a new generation of young consumers in Europe, America and China. Have done
Furry-lined loafers with horse-bit hardware and a cross-body bag emblazoned with the Double G logo quickly went viral.
During her reign she attracted a number of celebrity fans, including Lady Gaga, Beyoncé, Billie Eilish, Dakota Johnson and Jodie Turner-Smith.
However, since 2017, there was a steady decline in the pace of revenue growth.
It was revealed in October 2021 Sales grew 3.8% in the third quarterbelow analyst expectations.
Insiders attributed the impact to the pandemic as well as brand fatigue, especially in core markets like Asia.
Compared to other luxury rivals, including LVMH and Hermès, shares of Kering have underperformed.
Gucci’s efforts to combat this decline included reducing its annual show schedule, its annual cruise and pre-autumn collections.
The fashion house launched a series of collaborations with unexpected brands such as Adidas and a “hacker project” with Balenciaga.
In 2017, Harry Styles was named as an ambassador for Gucci. He appeared in several campaigns and released a collaborative collection called Ha Ha Ha this month.
Alessandro Michele leaves Gucci after seven years as creative director
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