Patrizio di Marco (CEO) and Frida Giannini (creative director) will both be replaced at Gucci. Its French parent company, Kering, hopes the replacements will be able to get its most important brand back on track.
Marco Bizzarri will become the company's new CEO on 1 January 2015, while Giannini will vacate her post in February, after its fall and winter collections have been shown. It has been 10 years since Gucci transformed this radically: in 2004, Domenico de Sole and Tom Ford left the company.
Gucci has been struggling as of late, with disappointing results in tow. An increasing number of customers have switched to even more exclusive brands.
Changes for its biggest brands
The new CEO, who will start working on 1 January 2015, has been with Kering since 2005 when he took over as Stella McCartney's CEO. He took charge of the "luxury couture and leatherwear" department in 2009, a position François-Henri Pinault (Kering's CEO) will now temporarily fill until a replacement is found.
This is just another one of Kering's recent changes within the management layer of its brands. Bottega Veneta, Brioni and Christopher Kane had already received new CEO's in October.