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Kering Group shares fell 12% on Friday morning, as it was announced Thursday afternoon that Demna would become Gucci artistic director.
according to Business of Fashion In the latest report, several analysts pointed out that Demna is a “high-risk choice” for Gucci, which is known for its eternal elegance. An insider from Jeffries revealed that the designer's turnaround was surprising, and JP Morgan analysts said it was a “controversial decision.” Analysts from Barclays told the media: “At this stage, the risks and opportunities brought by this appointment coexist.” They believe that skipping stable candidates such as Hedi Slimane or Pierpaolo Piccioli and directly selecting Demna is a move for Gucci to try to reshape the global trend leadership.
Anyway, Gucci does need a big move after Sabato De Sarno left last month. In the fourth quarter of last year, brand revenue plummeted 24%, and De Sarno's practical design style is difficult to arouse consumer interest when the luxury market is sluggish. Now the pressure is on Demna, who has to cleverly blend his signature provocative fashion taste with Gucci's high-end style to rekindle the buying enthusiasm in the European, American and Chinese markets—especially after former creative director Alessandro Michele left three years ago, the brand's sales in China have not improved.
Interested readers might as well review the 'Will Demna be the savior of Gucci after she retired from Balenciaga? 》.
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