A leadership change could be on the horizon at Saint Laurent, while comments from China point to lingering skepticism over Gucci’s pricing strategy. Kering remains a focus of attention in the fashion and luxury community, which is watching closely for signs of a concrete recovery across the brands of the French group led by CEO Luca de Meo. Rumors that Anthony Vaccarello may be preparing to leave Saint Laurent are gaining pace, and a possible successor has now been named. Jing Daily, meanwhile, is asking whether lower prices will be enough to revive Gucci’s sales.
The future of YSL
Speculation that Vaccarello may be on his way out of Saint Laurent is gaining momentum. Glitz.Paris was the first to report the rumors, pointing to broader frictions within Kering between certain creative directors and management. Instagram account BoringNotCom has now also confirmed the upcoming separation between YSL and the Belgian designer, who’s served as creative director since 2016. A possible replacement has also been named: Chemena Kamali, currently creative director of Chloé. According to Nss Magazine, changing creative director “would seem rather risky for a group that has been regaining stability in recent months”. Still, the magazine notes that Kamali served as design director at Saint Laurent from 2016 to 2023, meaning her return wouldn’t be a revolution.
Gucci’s pricing strategies
On September 8, Gucci customer service said: “The brand periodically adjusts product prices based on a range of market factors. Current prices can be checked through our official channels”. Jing Daily sees the response as an admission that prices have been reduced and asks whether that’ll be enough to win back Chinese consumers. Early reactions on local social media suggest that cutting prices won’t automatically unlock purchases. For one thing, the strategy could encourage customers to wait: if discounts have already arrived, further reductions may follow.
That’s exactly the reverse of what happened when Chanel kept raising prices, prompting shoppers to buy before the next increases. Other Chinese users said explicitly that, whatever the size of the reductions, they would rather buy gold and jewelry than accessories. In the current environment, Jing Daily concludes, the key question remains: “Why should it be worth spending US$2,980 on a bag today?”
Read also:
- Glitz.Paris: Kering management at odds with fashion designers
- Kering wants a fresh start, but the price/materials mix is unconvincing
- Gucci beats expectations as Kering returns to growth (+1%)
