Gucci still declining, Demna will present its 'vision' as early as September

Gucci's umpteenth negative numbers accelerate the debut of Demna, the brand's new creative director appointed on 13 March. During the conference call that accompanied the presentation of Kering's financial statements for the first quarter of 2025 -which saw the group's biggest brand record a 25 per cent drop in revenue-the group's deputy chief officer, Francesca Bellettini, said that "Demna will present the first hint (in English, hint) of his vision in September."

It has not been specified whether it will be an actual collection (fashion weeks for spring-summer 2026 are on the calendar in September), a capsule, an event or a campaign. What is certain is that the declaration sounds like an acceleration in Gucci's relaunch plan, which has been recording drops in sales for several quarters: according to the press release issued on the occasion of his appointment, in fact, Demna (who has taken the place of Sabato De Sarno, sacked last 6 February after two years) will officially take up his role as creative director as of 1 July, therefore just two months before his announced debut. Also in July, he will present his latest couture collection for Balenciaga, another brand of the Kering group of which he was creative head for 10 years.

Gucci, for its part, had announced in November, when De Sarno was still at the helm, the organisation of two cod-ed fashion shows for 2025 (the next one will be in September) and the presentation of the Cruise 2026 collection on 15 May in Florence.

"Demna will build on the brand's vision," Bellettini continued. "It will bring desirability and fashion sense, but it is a construction on something that already exists, not an erasure. Demna will certainly re-interpret the icons of the brand'.

In 2024, the group led by François-Henri Pinault had reported sales down 12% to EUR 17.19 billion, with net profit down 62% to EUR 1.13 billion. Gucci's drop in sales was almost double that of the group, down 23% to €7.6 billion. Last October Stefano Cantino was appointed Gucci's new CEO.