Milano Moda Uomo has just finished last week and in fashion news Gucci appears in highlight. First, the one week collection. The former Creative Director Frida Giannini was replaced -not officially yet- by Alessandro Michele and this latter had to show why he deserves this job creating a collection for the fashion event in one week. Challenge accepted and concluded with cool pieces (Gucci full show Autumn Winter 2015/2016 bellow).
This is associated with the decision of the new CEO Marco Bizzarri (photo), and of course Kering Group, to change Gucci’ positioning of luxury brand in the market. Now, they want to deal with fashion competitors. Probably, the reason of changes is connected with the fact that Gucci is not growing as much as expected, as proved by Goldman Sachs recent warn to sell Kering stocks, advise mainly based on Gucci’s situation -the florentine company provides 65% of the French group’s profits-. Indeed the Gucci growth strategy set in the pre-Bizzarri era might not be successful for the near future. As shown by financial figures, the Gucci gross sales decreased 1,9% in the third quarter of 2014, after a reduction of 1,3% in the first half of the same year. On the other hand, in marketing terms, it could be dangerous to relaunch a brand with different position strategy and also it may confuse the most important actors in the process: the clients. Let’s focus only in optimistic case as Valentino repositioning process. From haute couture to ready-to-wear and accessories, including other facts – as externals investments for example- the brand managed to grow around 70% in 2 years – 2010 and 2012-. What we have to acknowledge in Gucci case, is that Mr Bizzarri has an outstanding experience in the sector as CEO Couture and Leather Goods at Kering group, CEO Bottega Veneta, CEO Stella McCartney, General Manager Mandarina Duck Group and also as consultant at Accenture. So, let’s wait and see if the new challenge of the executive career will be completed.
Until that GOOD LUCK MR. BIZZARRI!