Major changes at Gucci today with the double whammy announcement of two major exits from the Italian fashion house. Page Six reports that both CEO Patrizio di Marco and Creative Director Frida Giannini will exit the company. Giannini is poised to officially depart in late February, after she shows her last collection for Gucci’s Fall 2015 season.
Things haven’t been going well for the label recently. Sales have been pretty weak and its overzealous reach into China hasn’t been as successful as Gucci hoped. Revenue has fallen 1.9 percent, according to The Business of Fashion, and Gucci’s growth patterns have been disappointing.
Come January, di Marco’s post will be filled by Kering’s leather goods and couture head Marco Bizzarri. As for Giannini, the hunt is on for a replacement, which will likely be announced once Fashion Week is over.
Needless to say, there are a lot of changes ahead at Gucci, and it’s definitely going to be one of the labels to watch in 2015.
[via Page Six, The Business of Fashion]
