Pierpaolo Piccioli's Humanist-Focus Chapter Ends at Maison Valentino

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Pierpaolo Piccioli's Humanist-Focus Chapter Ends at Maison Valentino

Responding to a request for comment from WWD, Valentino confirmed on March 22, 2024 the departure of Pierpaolo Piccioli as creative director of Maison Valentino.

Kering’s Role is Unclear in the Mayhoola Decision

We don’t know what the role of Gucci-parent Kering has in this decision. Kering acquired 30% of Valentino in July, 2023, with an option to purchase the whole of Valentino's share capital no later than 2028.

Luxury Stocks Are Holding Steady with Kering Plunge of $6.8 Billion

As fashion’s titanic luxury brands ship rocks in a week that witnessed Kering stock lose $6.8 billion of value on Wednesday, following news of a 20% revenue decrease at Gucci, Kering is the hardest hit.

LVMH is holding steady and positive, along with other key brands like Brunello Cuccinelli and Ralph Lauren.

AOC believes that very different luxury brand marketing positions at these more ‘humanist-centered luxury brands’, coupled with deep bench strength in executive talent at LVMH — but also individual luxury brands like Cucinelli and Lauren — are positioning them to weather storms in the luxury sector.

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Kering Acquires 30% of Valentino with Option for 100% of Shares by 2028

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Kering Acquires 30% of Valentino with Option for 100% of Shares by 2028

Kering will acquire a 30 per cent share in Valentino from parent company Qatar’s Mayhoola for an all-cash sum of €1.7 billion, the conglomerate announced on Thursday. The agreement, a significant acquisition for Kering’s fashion business, includes the option for Kering to acquire 100 per cent of the share capital of Valentino within five years. It will immediately acquire Valentino board representation upon necessary approvals of the deal.

The transaction is part of a broader strategic partnership between Kering and Mayhoola, which could lead to Mayhoola becoming a shareholder in Kering. The transaction is expected to close by the end of 2023, subject to approval.

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Confirmed: Gucci Creatve Director Alessandro Michele Has Departed

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Confirmed: Gucci Creatve Director Alessandro Michele Has Departed

Gucci Creative Director Alessandro Michele has left the Kering-owned luxury brand. Note:

The former accessories designer is credited with reviving Gucci's popularity with undeniably Gucci flamboyant and gender-fluid styles. That can be part of the problem in a fashion culture that is always on the move.

François-Henri Pinault, chairman and CEO of Kering, said of Michele: “His passion, his imagination, his ingenuity and his culture put Gucci centre stage, where its place is. I wish him a great next chapter in his creative journey.”

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