Frida Giannini and Patrizio di Marco, an anticipated departure from GUCCI
As anticipated by CPP-LUXURY.COM in October (see article), Gucci‘s Frida Giannini (Creative Director) and Patrizio di Marco (CEO) have announced their departure earlier this week. Their resignation comes at a critical time for the Italian luxury giant, which has been seeing a declining financial performance for the past 3 years, partly due to the slow down in Asia but mostly due to the loss of branding relevance and stance. Frida Giannini has been pursuing a ”politically correct” approach with an emphasis on Italian heritage, however, this failed to translate into a coherent creative direction.
Marco Bizzari (ex Bottega Veneta) and currently head of Kering’s luxury division will take over as CEO of Gucci. It is unclear whether this will be a permanent appointment or a new CEO will be appointed. In the meantime, a search for a new Creative Director is underway. Media has been speculating on several frontrunners such as Christopher Kane, whose eponymous brand was acquired by Kering in 2013 and Givenchy’s Riccardo Tisci. Other apparent candidates are Joseph Altuzzara and Valentino‘s Maria Grazia Chiuri.