Come 2015, expect a whole lot of shake up to happen at Gucci as the brand’s top creative executives bid goodbye. After an eight-year tenure as Gucci’s Creative Director, Frida Gianni is stepping down. This announcement was made recently by the brand’s parent company, luxury conglomerate Kering, together with the news that CEO Patrizio di Marco is also leaving.
Giannini joined Gucci in 2002 and became Creative Director in 2006, filling in for some really big shoes – that of former Creative Director Tom Ford’s. She will be capping off her directorial run with her Fall 2015 collection, sometime February next year.
Di Marco, on the other hand, will be officially out by January 1, 2015. His post will be taken over by Marco Bizzari, former CEO of Bottega Veneta and currently CEO of Kering’s couture and leather goods division.
The creative tandem of Giannini and di Marco can be credited for some of Gucci’s notable milestone, including the successful launch of Gucci’s beauty division just last November. However, these “management overhaul” may be attributed to reports that recently, Gucci’s sales have been “continuously slipping”. While Saint Laurent and Bottega Veneta, two other brands under the Kering luxury house, continue to reach growth expectations, Gucci’s revenues have declined, 1.6 percent in Quarter3 of this year.
A lot of speculation is going around about who will be Giannini’s successor, but no official announcement from Kering or any of its representatives has been made so far.
Gucci in hot water over worker hours…
Gucci said on today it would strengthen controls on its suppliers after a television program showed Chinese employees working more than three times their official hours to assemble its handbags.
The head of a Gucci subcontractor told an investigative program broadcast by RAI state television on Sunday that Gucci was aware it irregularly employed Chinese workers.
Aroldo Guidotti of subcontractor Mondo Libero (Free World)said the employees toiled away for as long as 14 hours a day, while they were supposed to work only for four hours, to assemble handbags that he sold to Gucci for 24 euros.
“Hidden and inappropriately used cameras, shooting carefully selected supplier companies (3 out of a total 576), do not provide for a true or accurate representation of Gucci and its supply chain policies and procedures,” the statement said.
Kering last month ousted the chief executive and creative director of the Florentine label, which dates back to the 1920s, because of falling sales.