CNN
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It’s all change in the world of Italian fashion. Gucci has named Demna Gvasalia as its creative director, as the struggling luxury house seeks to turn around its fortunes.
Demna — who only goes by his first name, as of 2021 — will begin his new role in early July, Gucci owner Kering confirmed to CNN via a press release.
The appointment comes after Kering said last month that it would part ways with former designer Sabato De Sarno, who served as Gucci’s creative head for only two years.
Sales at Kering have been weighed down by weak performance at Gucci, its biggest brand, accounting for about half of the French luxury group’s sales and two-thirds of profits. For the full 2024 year, Kering’s revenue dropped 12% to €17.2 billion ($18.6 billion), of which Gucci accounted for €7.7 billion ($8.3 billion).
Kering, which also owns Bottega Veneta, Saint Laurent and McQueen, praised Demna’s tenure at Balenciaga, where he has been creative director since 2015, during which he “redefined modern luxury, earning global recognition and cementing his authority on the industry,” according to an emailed statement.
The group does not break out financial results for Balenciaga, which falls into its “Other Houses” category, whose revenues amounted to €3.2 billion ($3.4 billion) in 2024. Among Demna’s bestsellers at Balenciaga were the chunky Triple S sneakers and the Speed trainer with a sock-like fit. His bags, including the recent Rodeo style featuring Kim Kardashian in its campaign and Le City, revived from the 2000s, have also been met with considerable fanfare.
However, Demna’s tenure hasn’t been without controversy: In 2022, Balenciaga received widespread backlash after it released an advertising campaign that was viewed as an endorsement of child abuse and pornography. Following furious online criticism and a $25 million lawsuit against the production company behind one of them, Balenciaga admitted “a series of grievous errors for which (it) takes responsibility” and withdrew the campaigns.
Demna has also made headlines with his provocative creations, such as a $2,000 version of the classic blue Ikea bag and “destroyed” sneakers that arrived out of the box torn and frayed for $1,850.
François-Henri Pinault, Kering’s chairman and CEO, said that Demna’s contribution over the past decade to both the group and brand had been “tremendous,” adding that “his creative power is exactly what Gucci needs.”
“Demna’s profound understanding of contemporary culture, coupled with his extensive experience in conceiving visionary projects, has established him as one of the most influential and accomplished creatives of his generation,” added Francesca Bellettini, Kering’s deputy CEO in charge of brand development.
The appointment follows this morning’s news that Donatella Versace would be stepping down from her role as chief creative officer of Versace, a role she has held since 1997, and handing the reins over to Miu Miu’s former image and design director, Dario Vitale.
A new designer for Balenciaga has not yet been announced.