Analysis-Out of fashion: Gucci faces daunting task to replace top designer.
The abrupt departure from Gucci of Alessandro Michele, the flamboyant designer who was a favourite of Harry Styles and Lady Gaga, increases pressure on owner Kering (EPA:PRTP) as it faces slowing revenue growth at the Italian fashion house.
News of the creative director’s exit after seven years comes as Kering is seeking to reinvigorate the label, which accounted for two thirds of the parent company’s profits last year, and ahead of the lucrative holiday shopping season.
