Valentino Names Ex-Gucci Designer Michele as Creative Director [BNN Bloomberg (Canada)]
KERING SA UNSP/ADR (PPRUY)
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Source: BNN Bloomberg
Michele, who oversaw Gucci's creations for eight years until November 2022, is replacing Pierpaolo Piccioli, whose departure was announced last week. He will start his new role on April 2 and will be based in Rome, Valentino said in a statement Thursday. The 51-year-old's appointment at Valentino may come as a surprise. Gucci owner Kering SA parted ways with the designer after sales of the label didn't keep up with the performance of some of its biggest rivals such as Louis Vuitton and Hermes. Last year, Qatar's Mayhoola sold a 30% stake in Valentino to Kering, with an option for the French company to buy the rest by 2028. Michele's fashions at Gucci became recognizable for their flamboyant and bohemian-chic designs. Under his direction, Gucci also collaborated with other brands, notably Adidas AG and North Face Inc. as well as Balenciaga, another Kering brand. Valentino, whose red carpet designs have been worn recently by stars including Zendaya and Florence Pugh, was founded
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