It was revealed on Wednesday, 23rd November, that Italian fashion-designer Alessandro Michele is stepping down as the Creative Director for the iconic luxury fashion brand Gucci.
Michele comprised the role from 2015, when he was promoted from his role as Head of Accessories. He played a pivotal role in reviving the brand of Gucci, brought in newer audiences and oversaw a profit and sale boom where Gucci experienced a revenue increase €3.9bn to €9.7bn within six years. Michele brought his leadership and unique creative vision that placed Gucci to the ‘center stage’. He sculpted a new fluid brand identity while still paying homage to the vintage identity of Gucci.
“I would like to thank him for his 20 years of commitment to Gucci and for his vision, devotion, and unconditional love for this unique House during his tenure as Creative Director.” – Marco Bizzarri, President and CEO of Gucci
Different Perspectives Led To Gucci and Michele Parting Ways
Due to contrasting visions, Michele’s decision to step down brought a close to an extraordinary 20-year-long career at Gucci. Over the course of these 20 years, Michele felt that Gucci became his adopted family. Michele stated, “There are times when paths part ways because of the different perspectives each one of us may have. Today an extraordinary journey ends for me, lasting more than twenty years, within a company to which I have tirelessly dedicated all my love and creative passion. During this long period, Gucci has been my home, my adopted family.”
Gucci was suffering from ‘Brand Fatigue’
To some, a re-launch of Gucci was the need of the hour. This re-launch had to happen without Michele as some financial analysts felt that Michele “doing the same thing for the past seven years.” The supposed brand fatigue is reflected in the recent below-par revenue growth of the fashion brand. The pace of revenue growth was allegedly declining and Gucci was falling behind in its competition with other luxurious brands such as LVMH Moët Hennessy Louis Vuitton. This vision of a brand ‘re-launch’ could be the barrier of ‘different perspectives’ that Michele talked about.
Kering Only Had Words of Appreciation for Michele
Despite the pre-supposed brand fatigue, François-Henri Pinault, the Chairman & CEO of Kering (the French parent company that owns Gucci) only had words of praise for Michele. In an official statement from Kering, Pinault said, “The road that Gucci and Alessandro walked together over the past years is unique and will remain as an outstanding moment in the history of the House. I am grateful to Alessandro for bringing so much of himself in this adventure…I wish him a great next chapter in his creative journey.”
No immediate successor has been announced. It is left to see when this speculated ‘re-launch’ of Gucci takes place and how it differs from Michele’s artistic vision.
Thank you for reading. Leave us a comment if you liked it!
Have a Great Day!