At Gucci's house a new one was more than expected creative director, after the recent farewell of Sabato De Sarno, seen as the one who has the difficult task of to lift the fortunes of the luxury house of Kering group.
But the choice of the designer Georgian by birth, German by nationality, Demna Gvasalia The Paris stock exchange did not like it: Kering shares reacted with a 15% drop to 216 euros, while in the late morning they reduced their losses to -12% to 223,15 euros. In contrast to the trend in the world of luxury lvmh which rises by 2%, as well as Hermès to +1,6%.
In fashion circles, the media are emphasizing that Demna, as the designer from Balenciaga (also part of the Kering group) is briefly called, is known for his vision outside the lines and listed as one of the designers most revolutionary of our time: for Gucci it represents an attempt to give a breath of fresh air to its historic identity.
Francois-Henri Pinault, Chairman and CEO of Kering, said yesterday: “Demna's contribution to the industry, to the Balenciaga brand and to the group has been exceptional. His creative force is what the Gucci brand needs now”. Demna, for his part, said he was “excited and excited to join the Gucci family” and expressed his desire to write “a new chapter in the extraordinary story of Gucci”.
Stephen Cantino, Gucci CEO, who said: “I have always looked with respect to Demna’s creative vision, which is both bold and unparalleled. His great respect for the iconicity and heritage of the brands merges with an extraordinary contemporary sensibility. Building on Gucci’s core values, Demna will lead the house towards a renewed identity together with a new cultural relevance”.
Now there is a big gamble waiting for him: to take out Gucci, starting from February orphan of Sabato De Sarno, From crisis into which it has sunk, between the drop in sales and the collapse of turnover (-23% in 2024), after the golden years of the creative direction of Alessandro Michele, which had brought the Florentine fashion house from 3,9 to 9,7 billion euros in turnover between 2015 and 2021. A task that was almost impossible for anyone, but not for him.
When he was at Balenciaga, from 2015, Demna, who renounced his last name in 2023, brought to the catwalk clothes that have become iconic, such as the "Triple S" sneakers or the bags shaped like a chip bag or a garbage bag. from over a thousand euros, arousing both admiration and bewilderment. One of his most significant choices was to have men and women walk together and in 2023 to have his mother Ella, dressed in black, walk the catwalk.
Brunello Cucinelli on the rise: proposed dividend of 94 cents per share
At Piazza Affari Brunello Cucinelli is up 0,45% at 111,20 euros. The Tuscan cashmere house today confirmed a Net income 2024 double-digit growth and the main lines of development. Margins in the second half of 2024 showed an EBIT of 107 million, up 7.4% on the year, in line with expectations. The Board of Directors proposed a dividend equal to 0,94 euros per share, which corresponds to a payout of 50%.
Net debt at the end of December was equal to Eu103.6mn, in line with management's expectations and indications. Management confirmed for 2025 an expected growth in revenues of around 10%, also in light of a very positive start to the first quarter of 2025 and the excellent order intake for the Men's and Women's Autumn-Winter 2025 collection.
