Burberry, Dior, Louis Vuitton…What’s Next?
The announcement means that she will be the first woman to take the helm at Dior, in the luxury label’s 69-year history and she’ll be working alone, as her former design partner Pierpaolo Piccioli is staying put at Valentino and will be solo creative director of that house.
The news came just days after the duo showed their final couture collection in Paris as a team, sending down the runway a couture collection with a sometimes-austere Elizabethan-meets-clerical-influenced offer that wouldn’t have looked out of place as costume designs at Stratford-upon-Avon.
Chiuri had been at Valentino for 17 years, eight of them in the top creative role with Piccioli. It will be interesting to see how she and Piccioli fare as solo creative directors having been a team for a quarter of a century.
Previously they worked together at Fendi for 10 years, later joining Valentino with a brief to boost accessory sales and taking over full creative direction in 2008.
They issued a joint statement today saying their long creative partnership was one “of professional satisfactions” but each would now follow their “artistic path in an individual way.”
Valentino CEO Stefano Sassi said he was looking forward to “a new and exciting phase for the brand under the creative leadership of Pierpaolo Piccioli.”
Source: WGSN
The latest rumor in a summer of designer comings and goings comes from Louis Vuitton, LMVH’s prize label and biggest profit driver. Reuters reports that Louis Vuitton designer Nicolas Ghesquière could leave the brand “as early as after the October collection,” according to a source. Designer Jonathan Anderson of JW Anderson and Loewe is allegedly being eyed as a replacement, or so claims a second source.
Further speculation about the reason for the upheaval come from, yes, yet more sources. Some say that Ghesquière‘s ready-to-wear designs have not been a commercial hit. Also, in June, when asked about whether he would want to create his own label, he told French TV channel Canal Plus, “I would like to do it soon, very soon. I don’t have a date but I will come back and tell you when I do.”
Then there’s a tale of love. “[Bernard] Arnault, [CEO of LVMH], is very fond of Anderson, everybody knows he adores him,” another source said.
Only time will tell as to the credibility of all these sources.
UPDATE:
WWD received comment from LVMH and it sounds like Ghesquière is staying put. The designer has two more years on his contract and they’re strongly denying the rumors.
Source: NYMAG.COM
♥ Oscar de la Renta continues without Peter Copping
In more surprising news — the same day rumors broke that Nicolas Ghesquière is on his way out from Louis Vuitton — a representative for Oscar de la Renta announced that Peter Copping is stepping down from his role as creative director, effective immediately.
“After almost two years at Oscar de la Renta, personal circumstances require me to return to Europe. I have loved my time in New York where I hope to return at some point in the future,” said Copping in a statement.
De la Renta personally chose Copping to succeed him; his appointment became official in October 2014, a month before de la Renta passed away. Copping’s collections were generally well-received by press and buyers, as Copping was consistently true to the beloved brand’s elegant, feminine DNA. Copping had previously served as the artistic director of Nina Ricci for five years. Before that, he worked for 12 years under Marc Jacobs at Louis Vuitton.
No replacement has been named, but Vanessa Friedman at the New York Times reports speculation has already turned to Monse co-founders Fernando Garcia and Laura Kim, who both worked for de la Renta before Copping came on board, and reportedly left because they didn’t get top job. Garcia and Kim are currently consulting for Carolina Herrera.
“Our team will continue to work on next season’s collection with a keen focus on the level of sophistication and craftsmanship that are the hallmarks of the house,” said CEO Alex Bolen in a statement. “We wish Peter well in his future endeavors.”
Source: FASHIONISTA.COM
♥ Burberry names Marco Gobbetti as CEO; Christopher Bailey to become President
He will be replaced in the CEO role by Marco Gobbetti, who is currently chairman and CEO of French brand Céline, a position he has held since 2008.
The moves are part of an ongoing business review at the luxury brand.
Bailey’s dual role as chief creative officer and CEO has been the subject of consistent scrutiny, both over his level of experience and the pressures placed on him by holding both roles.
Bailey became CEO in October 2013 in addition to his role as chief creative officer. In the new role he will become president and oversee all elements of brand and design, working in partnership with Gobbetti, who will join the company next year.
Bailey said: “I am very excited that Marco Gobbetti is joining us as chief executive officer and as a partner to me.
“Marco brings incredible experience and skills in luxury and retail with him that will be invaluable to us. On a personal level, I know that we are going to enjoy a wonderfully collaborative partnership that makes me very excited for our future at Burberry.”
Commenting on the news, WGSN chief content officer Carla Buzasi said: “The City has always been nervous about Christopher as both CEO and Chief Creative Officer. I disagree with the concept that a creative leader cannot be a commercial leader, which seemed to be the opinion of many, but completely understand the view that on a practical level, the reality of juggling two huge roles, would be difficult for even the very best. It’s therefore unsurprising that the market has reacted so positively to the news that a new CEO has been hired, giving Bailey the time and space to concentrate on creating the very best collections, and building the very best brand, and allowing one person to fully concentrate on the role of CEO.”
Julie Brown has also been appointed to the new role of chief operating and financial officer, replacing Carol Fairweather. Brown is currently chief financial officer at the global medical technology businessSmith and Nephew plc.
Fairweather will step down from the board by the end of January 2017 and leave the company at the end of the financial year, with the company saying she plans to pursue other opportunities.
Burberry’s share price jumped 6.37% on the news
Source: WGSN