Creative director Alessandro Michele is leaving Italian fashion house Gucci, the biggest brand of French luxury group Kering, Women's Wear Daily (WWD) reported late on Tuesday.
"Could a major change be taking place at Gucci? Well-placed sources here say that creative director Alessandro Michele is exiting the brand," WWD said in a report from Milan
Gucci has been successfully revamped with a bold new style since Michele took over the top creative role at Gucci in January 2015.
"After 7 years in charge of Gucci's creative engine, it may well be time for a change, and consensus amongst institutional investors appears to be forming that a new approach is required to re-ignite the brand," RBC analysts said in a note
"Overall, the notion of change in creative lead at Gucci is likely to be viewed positively by the market, and in Kering's share price," they added.
Source: Reuters
Image source: Reuters
