In a move mirroring a shakeup at Gucci in 2004 when Tom Ford and Domenico de Sole departed with the house simultaneously, Gucci’s top two executives will step down from the luxury brand as owner Kering SA seeks to spur growth at its faltering flagship. More recently, Gucci has struggled, with sales falling in the most recent quarter.
The Paris-based company announced today that Gucci Chief Executive Officer Patrizio di Marco will be succeeded by Marco Bizzarri, and Creative Director Frida Giannini will leave after showing the 2015 fall-winter collection in February. A successor for Frida has yet to be named.
The shakeup is Gucci’s biggest since ten years ago when CEO Domenico de Sole and Creative Director Tom Ford, who were widely credited with turning the dormant family run brand into an international fashion phenomenon, parted ways with the house after the company was acquired. The duo set a tone for dynamic leadership partnerships that few if any have yet to emulate.
Creative Director Frida Giannini who joined Gucci in 2002 as Handbag Design Director, working for Tom Ford, took the Creative Director reigns for the entire label in 2005.
I would like to thank Frida for her extraordinary passion, dedication and contribution to the Gucci brand. She has been the sole Creative director of Gucci for close to a decade. This is a remarkable accomplishment, considering the level and breadth of responsibility of overviewing all the aspects related to product and image for such a global brand during such a long period of time. I am truly grateful to her for her achievements, creativity and the passion that she has always instilled in her work.
Di Marco joined Gucci in 2009 from Kering’s Bottega Veneta brand, over the course of the last few years he has worked to move Gucci up-market, reducing the label’s famous double G logo usage. His replacement, Marco Bizzarri joined Kering in 2005 as CEO of Stella McCartney and was appointed CEO of Bottega Veneta in January 2009, replacing Di Marco. He was named head of Kering’s couture and leather goods division in April 2014 and will take Gucci reigns on Jan 1st.
Commenting on Gucci’s future, François-Henri Pinault declared: “Today, Gucci is one of the most iconic, well-known and prominent luxury brands in the world, thanks to the hard work and dedication of all of its employees. As for Marco, after successfully setting up Kering’s ‘Couture & Leather Goods’ division in only a few months, I am fully confident that he will now build on Gucci’s extraordinary legacy to have the 93-year-old house enter a new momentum and continue to write bright chapters of its exceptional history.”