Sabato De Sarno to hit Milan catwalk on Friday with high stakes Gucci debut
MILAN/PARIS (Reuters) - Gucci creative director Sabato De Sarno takes to the runway in Milan on Friday, in a high-stakes designer debut for the Italian label’s owner, French luxury group Kering (PRTP.PA).
De Sarno’s Gucci catwalk presentation – one of the industry’s most highly-anticipated shows this year – will serve as an aesthetic reset for the brand, aimed at reigniting sales, but it is also the first major test of a sweeping overhaul at Kering.
Efforts to regain momentum at the label, which accounts for the bulk of sales and profits at Kering, have prompted broad change in the group’s top management.
The group has also taken steps to broaden its revenue sources, announcing plans to buy high end perfumer Creed in June and a 30% stake in fashion label Valentino in July. Although it was one of the biggest success stories in fashion in recent years, Kering's star label struggled to capitalize on a post-pandemic rebound that fuelled surging sales at rivals, such as LVMH-owned Louis Vuitton and Dior. Group managing director Jean-Francois Palus is now stepping in to run the brand while the company seeks a more permanent replacement for chief executive Marco Bizzarri, who leaves following De Sarno’s first show Friday.
Bizzarri and the label’s previous creative director Alessandro Michele had been credited with the brand’s soaring success, doubling sales between 2015 and 2019 to nearly 10 billion euros, but lost ground to rivals, who invested heavily in marketing during the pandemic.
In the run-up to De Sarno's debut, executives at Gucci have been focused on timeless fashions and higher-priced products – and showcasing them in specialized shops catering to ultra wealthy clients – while increasing marketing and the number of collections.