Gucci's creative director Michele exiting brand: Report
Alessandro Michele attends the premiere screening of the film Don’t Worry Darling at the 79th Venice Film Festival in Venice, Italy, Sept 5, 2022.
PHOTO: Reuters
PUBLISHED ONNovember 23, 2022 10:05 AM
PARIS — Creative director Alessandro Michele is leaving Italian fashion house Gucci, the biggest brand of French luxury group Kering, Women's Wear Daily (WWD) reported late on Tuesday (Nov 23).
"Could a major change be taking place at Gucci? Well-placed sources here say that creative director Alessandro Michele is exiting the brand," WWD said in a report from Milan.
A statement was expected as early as Wednesday, it added.
Both Kering and Gucci declined to comment the WWD report.
Gucci has been successfully revamped with a bold new style since Michele took over the top creative role at Gucci in January 2015.
"After seven years in charge of Gucci's creative engine, it may well be time for a change, and consensus amongst institutional investors appears to be forming that a new approach is required to re-ignite the brand," RBC analysts said in a note.
"Overall, the notion of change in creative lead at Gucci is likely to be viewed positively by the market, and in Kering's share price," they added.
ALSO READ: '$6,000 earrings too much': China official being probed for luxury accessories