Kering, the revolution continues. Alexander McQueen and creative director Sarah burton (on the left in photo from Shutterstock) are preparing to say goodbye after 20 years. Kering will present a “new creative organization” in time. This move is just the last of the current company shake up that began with Gucci and that is continuing to involve all enterprises of the French luxury conglomerate. The goal: reorganizing the management team to provide a push to the fashion business. Meanwhile, the debut of Sabato De Sarno as new creative director of Gucci is just a few weeks away in Milan.
Sarah Burton leaves McQueen
Kering hasn’t published financial data for Alexander McQueen. And yet, it’s probable that the London-based brand has reached results below expectations. The brand is controlled by Kering, which has names Gianfilippo Testa as the new CEO in order to correct the trajectory in the short term. WWD writes that Grace Wales Bonner could be the one to substitute Burton.
Lots to do
The search for a “new creative organization” for McQueen is just the latest of Kering’s urgencies. First of all: substituting Marco Bizzarri, ex-CEO of Gucci. Then: relaunch the brand. The same trend is applicable to Balenciaga, which is still recovering from the displeasing adv campaign run last year. “It’s curious for Kering to open another activity and search for a new creative director for McQueen. This item is just the last of a long to-do list”, says Luca Solca of Bernstein. Solca highlights how Burton’s departure confirms the acceleration of the frequency with which changes are occurring in the fashion segment. “The lifespan of creative directors grows increasingly shorter, while competition for relevance and what is new is increasing”, he concludes.
The revolution continues
In mid-July, beside from communicating the departure of Bizzarri (starting September 23rd), Kering had promoted Francesca Bellettini (CEO of Saint Laurent) to deputy CEO and CFO Jean-Marc Duplaix. “We are building a more solid organization to fully capture the growth opportunities the global luxury market presents”, said Kering’s number 1 François-Henri Pinault. Work is continuing, it seems.
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