Michele’s “precise and consistent aesthetic codes helped turn Gucci around and they were recognized as authentic by the market and by the younger generations, who have a sixth sense about this,” said Giovanna Brambilla, partner at Milan-based executive search firm Value Search. “There were no contradictions between his values, the product and Gucci’s communication.
Another source told WWD that Pinault is looking at a change of pace for the group’s star brand and “trying to recover the uber-luxury consumer.” That is exactly the strategy the luxury titan is said to have wanted at Bottega Veneta. While immensely successful with trend-driven products designed by creative director Daniel Lee, the brand had lost some of its luxury allure, one reason that led to Lee’s abrupt departure.
Gucci also has an extensive global retail network, stores that have to carry a wide range of products, Ferreri continued, and he believes Michele’s genderless designs, which sparked numerous imitations and initiated a powerful trend upon his appointment in January 2015, eventually dented the brand’s menswear business, leaving gaps in the stores.
Seeing “more opportunities than risks” in a designer change, the report stated that “external candidates suitable for the job are not obvious.was a successful internal promotion and Kering might want to avoid a situation where Gucci would be too dependent on a ‘star designer.’” Indeed, sources in Milan also wonder if president and CEO Marco Bizzarri could be headed to a top role within Kering and be succeeded by Saint Laurent CEO Francesca Bellettini. Incidentally, the latter executive, as reported, appeared at the Bain & Co. and Altagamma conference in Milan earlier this month — a first for Bellettini, who has not attended any event here in recent memory.