Gucci will bounce back soon, the
Italian fashion house's parent company Kering said on Tuesday
after its poor showing contributed to the group's profits
falling to 1.13 billion euros in 2024, down by 62% with respect
to the previous year.
"Gucci will be back, I have absolutely no doubt about it,"
Kering President and CEO François-Henri Pinault told a
conference call with analysts presenting the group's 2024
results.
He added that last year "things went worse than we expected".
Gucci recently parted company with Sabato De Sarno after he
failed to improve the situation during a two-year spell as
creative director.
Deputy CEO Francesca Bellettini said the name of the new
creative director "will be announced soon".
She said this person "will have a great ability to make people
dream, convey passion, demonstrate talent and make the brand
desirable, building on the extremely solid foundations we have
built over the last 18 months."
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