Gucci plans to name a new creative director as early as this week, with accessories designer Alessandro Michele leading a list of candidates for the job.
Of all the fall-winter fashion collections on show in Milan over the next four days, the label that will attract the most attention will probably be Gucci, and not because of the clothes.
Italian fashion house Gucci said on Monday it would strengthen controls on its suppliers after a television program showed Chinese employees working more than three times their official hours to assemble its handbags.
Prada SpA reported a 44 percent drop in third-quarter profit as weaker spending by wealthy Chinese consumers weighed on the luxury-goods maker’s revenue growth.
Gucci holds the luxury spending downturn mainly responsible for its poor performance but the Italian fashion brand may also have itself to blame, suggesting it could be time to change strategy and hire fresh talent.
In four years, Paula Cademartori has built a modest but respectable accessories business set to generate $2.8 million in 2014 on compact, colourful handbags.
Luxottica Group SpA said founder Leonardo Del Vecchio will become interim chief executive officer after the Italian maker of Ray-Ban glasses lost its second leader in little more than a month.
Luxottica Group SpA, the world’s largest eyewear maker, slumped in Milan trading after losing its second chief executive officer in little more than a month.