Michele-Venturini: a synergy that relaunched Gucci
Behind the appointment there would be the important work of Jacopo Venturini, now CEO of the fashion house with 1.4 billion euros in 2022 revenues, but in the past top manager of Gucci in the years of Alessandro Michele’s creative direction.
«I am very happy and excited to return to work with Alessandro Michele after years of working together. His talent, his creativity, his profound intelligence always linked to a wonderful lightness, will write another chapter of the Maison Valentino. I am sure that the rereading of the codes of the maison and the heritage created by Mr. Valentino Garavani combined with the extraordinary vision of Alessandro will make us experience moments of great emotion and will translate into irresistibly desirable objects”, wrote Venturini in the note.
Under Michele’s creative guidance – and that of CEO Marco Bizzarri – Gucci had achieved stellar turnover, becoming, in fact, the flagship brand of the French group Kering (which also has Saint Laurent, Bottega Veneta, Pomellato, Balenciaga in its portfolio). A record that it maintains with over 10 billion euros in turnover, but which was already affected by a series of factors, including the slowdown in Asian markets, so much so that sales of the brand at the end of the first quarter of 2024 are estimated at -20 percent.
Michele-Pinault: new convergence of perspectives?
Relations between Alessandro Michele and Gucci ended quite abruptly in November 2022 when the paths between creative director and company were divided due to “different perspectives”. Perspectives which, however, seem to have converged again in some way in the Valentino experience: the Kering group, in the summer of 2023, took over 30% of the maison with the option to increase to 100% no later than 2028. The next four years, therefore, will be decisive to understand the future of Kering’s participation in Valentino (and of Mayhoola in Kering). The expectations of François-Henri Pinault, president and chief executive officer of Kering, are perhaps that the “Michele miracle” experienced by Gucci will be repeated in Piazza Mignanelli: «I am very happy that Alessandro has been appointed at the top of the creative direction of Valentino, and I am sure that with his creativity, culture and eclectic talent, he will be able to beautifully interpret the unique tradition of this splendid maison, and make it shine. I look forward to seeing his passion, imagination and dedication at work, in shaping this new chapter in Valentino’s story.”
