Gucci Is Bleeding to Death & Sabato de Sarno Is Not the Doctor She Needed
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Gucci creative director Sabato de Sarno is leaving Gucci after two years. Gucci’s Feb. 25 runway show will be designed by its design studio, the brand said Thursday, Feb.6.
One assumes that de Sarno’s collection is in the pipeline and will represent the majority of the new fall collection.
Gucci’s Problems Are Bigger than de Sarno’s Tepid Designs
AOC does not believe that Gucci’s revenue plunge of 26% in the third quarter of 2024, a scary reflection of the brand’s current status, was solely the result of de Sarno’s tepid approach to design.
We note that his ‘marching orders’ came from Kering head and Gucci’s billionaire owner François-Henri Pinault, who flipped the switch on Gucci’s DNA under former creative director Alessandro Michele, now installed in all his glory at Valentino.
You cannot cut the heart out of Alessandro Michele’s Gucci success — which perhaps did involve too much crazy at times — and expect those same customers to now buy a quiet Gucci, with marketing campaigns that prompted AOC to write that the models look like they’re making a case for lobotomies for women.
Old Gucci and Modern Gender Fluidity
AOC stands by our view that Gucci’s problems were forerunners of the slowdown in China’s luxury market and also prompted by Gucci’s cultural issues challenging China’s girlie-boys shakedown. Alessandro Michele presented a view of masculinity that the Chinese government wants to stamp out. And Gucci had absolutely become a cultural force with China’s young people.
It’s not clear that Kering executives even considered the possibility that Gucci’s problems in China were driven by these marketing and branding issues and not the products themselves. Instead, they thought that Loro Piana, Brunello Cucinelli and even Hérmes would just make way for a new Gucci under de Sarno that was positively schizoid for existing customers and the brand’s DNA.
There is no way that the lovers of Alessandro Michele’s designs would suddenly even relate to the new Gucci without an epic and clever marketing strategy to achieve that result.
As AOC noted in our acerbic-tongue commentary on Gucci, the post-Alessandro Gucci luggage campaign compared to new Rimowa campaign with tremendous heart, reinforced our view that Kering has left Gucci bleeding to death on the operating table for two years.
Gucci: Restrained to the Point of Emptiness
Le Monde was more tactful, writing that Gucci “became restrained to the point of emptiness”.
The closest parallel I can think of is billionaire Elon Musk taking over the US federal government as our new, unelected co-president who bought his Trumplandia role with unlimited cash. What is his first target? USAID — the largest humanitarian aid agency in the world and a pittance in the coffers of US federal government spending.
That’s what Kering did to Gucci.
It’s also relevant that Versace got a financial smack on the butt from the same strategy employed by Gucci. In their new Spring 2025 ad campaign ‘Individuality is an Attitude’. Capri Chief Executive John Idol said this week that Michael Kors added too much fashion, while Versace — always known for individuality — removed too many unique statement items and raised prices too high on more traditional fashion pieces.
Versace is back to visualizing what it’s known for: a sophisticated individuality. Kering is set to report holiday 2024 sales and year-end revenues on February 11. Buckle Up!
Crystal Ball Predictions
As for what comes next, none of us knows. The rumor-mill has been in high gear that Dior Women Creative Director Maria Grazia Chiuri is being sought by Gucci at a time when Loewe’s JW Anderson could move to Dior. Or even that Chiuri and Pierpaolo Piccoli could reunite at Gucci.
Better yet, that Chiuri would move to Fendi, to accomplish her stated desire to return to Rome, and also take on a new assignment.
AOC’s concern is the absolute jacking around of these huge brands as if their successes are not understood or respected — as in the case of Gucci under Alessandro Michele.
I have the same concerns about Dior, but because AOC totally trusts the brainpower installed at Christian Dior and LVMH, they will make the right decisions about an issue we can’t even agree exists.
BoF noted this week that LVMH is known for getting ahead of a potential major problem in advance, while it’s a minor one — or even nonexistent.
That statement prompted AOC to back up and agree that Dior knows best, and there’s no disputing that JW Anderson would be terrific at Dior, from our perspective.
Kering does not inspire similar confidence on Anne of Carversville.Maybe LVMH can take over USAID and make Maria Grazia Chiuri their ambassador to the world. ~ Anne
Gucci: The Saga of a Great Brand Whose Wheels Literally Fell Off
