Kering Appoints Balenciaga’s Demna Gvasalia as Creative Director of Gucci
The avant-garde, shocking Balenciaga designer will try to revive Gucci’s fortunes and Kering’s share price.
At the end of COVID, Kering was doing well, mainly on the back of their most famous house, Gucci. New money crypto millionaires dressed hat-to-shoes in their double-G monogram; women worldwide splashed on Gucci’s latest bags; and Chinese luxury consumers spent there like it was having a closing-down sale. The skies were blue, the sun was shining, and it would always stay this way. In August 2021, they were valued at $115 billion.
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