Alessandro Michele steps down as Gucci creative director
Alessandro Michele is leaving his role as creative director of the Gucci, the fashion house announced Wednesday, bringing an end to an eight-year tenure that sharply redefined Gucci’s codes with romanticism and gender-fluidity, all the while powering revenues for the Kering parent.
Gucci parent Kering closes half of China stores, takes sales hit from coronavirus
Gucci owner Kering SA has closed half of its stores in mainland China and the locations that are still open are operating on reduced hours, CEO Francois-Henri Pinault as the company warned investors of a drop in sales. "We have a strong drop in traffic and in sales over the last 10 days," CEO Francois-Henri Pinault told analysts on a conference call Wednesday discussing its fourth-quarter earnings. Sales for the fourth quarter increased 11% to 4.36 billion euros ($4.77 billion). "In the past few weeks, as the very positive start of the year, our environment has changed significantly with the coronavirus outbreak," Deputy CEO Jean-Francois Palus said. The company did not give a specific estimate of the sales hit caused by the virus.cnbc.com