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Gucci's CEO is Stepping Down as its French Parent Shakes up Leadership

FILE - Gucci President Marco Bizzarri, gestures as he attends a conference titled 'The Innovation Summit', in Milan, Italy, on July 3, 2017. Bizzarri is stepping down later this year, the latest shakeup to the luxury fashion brand and coming as part of a series of changes to the French conglomerate Kering that owns it. (AP Photo/Luca Bruno, File)
FILE - Gucci President Marco Bizzarri, gestures as he attends a conference titled 'The Innovation Summit', in Milan, Italy, on July 3, 2017. Bizzarri is stepping down later this year, the latest shakeup to the luxury fashion brand and coming as part of a series of changes to the French conglomerate Kering that owns it. (AP Photo/Luca Bruno, File)
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Gucci's CEO is Stepping Down as its French Parent Shakes up Leadership

FILE - Gucci President Marco Bizzarri, gestures as he attends a conference titled 'The Innovation Summit', in Milan, Italy, on July 3, 2017. Bizzarri is stepping down later this year, the latest shakeup to the luxury fashion brand and coming as part of a series of changes to the French conglomerate Kering that owns it. (AP Photo/Luca Bruno, File)
FILE - Gucci President Marco Bizzarri, gestures as he attends a conference titled 'The Innovation Summit', in Milan, Italy, on July 3, 2017. Bizzarri is stepping down later this year, the latest shakeup to the luxury fashion brand and coming as part of a series of changes to the French conglomerate Kering that owns it. (AP Photo/Luca Bruno, File)

The president and CEO of Gucci is stepping down later this year, the latest shakeup to the luxury fashion brand and coming as part of a series of changes to its parent company, the French conglomerate Kering.

Marco Bizzarri will depart the Italian design house in September after eight years at the helm, with Kering saying Tuesday that he "masterminded the execution of Gucci’s outstanding growth strategy since 2015." He was part of Kering's leadership for 18 years, The Associated Press reported.

Bizzarri will be replaced by Jean-François Palus, who is now Kering's managing director. Palus will be “tasked with strengthening Gucci’s teams and operations” as the brand “rebuilds influence and momentum,” according to the company's statement.

Historically, Gucci accounted for most of Kering’s profits, but it has been under some scrutiny after underperforming rivals.

Kering also said it was promoting Yves Saint Laurent President and CEO Francesca Bellettini as deputy CEO for brand development, managing all of its fashion houses, which also include Balenciaga, Alexander McQueen and Bottega Veneta.

Kering Chief Financial Officer Jean-Marc Duplaix will be another deputy CEO, handling operations and finance.

“We are building a more robust organization to fully capture the growth of the global luxury market," billionaire Kering Chairman and CEO François-Henri Pinault said in a statement.

He said Bellettini drove revenue at Saint Laurent six times higher, while Palus, who's taking over at Gucci, “will now focus his energy on getting our largest asset in top shape.”

Pinault thanked the departing Bizzarri “for his spectacular contribution to the success of Gucci and of Kering.”

The changes open questions about the future of the larger fashion conglomerate and especially of Gucci, whose creative director of eight years, Alessandro Michele, left the brand last November, citing “different perspectives." He redefined Gucci’s codes with romanticism and gender-fluidity.

It marks a clean start at Gucci: Bizzarri arrived when Michele was promoted in 2015 in a complete revamp of the fashion house and now is leaving eight months after the creative director.

Recent Gucci collections have been designed by an in-house team, but the fashion world is awaiting the brand’s first collection by new creative director Sabato De Sarno, formerly part of the team at Valentino, to be unveiled in September.

 

 

 

 

 

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Fashion

It’s Met Gala Time! Get Yourself Suitable with This Guide on What to Expect

Met Gala celebrity chair Lewis Hamilton speaks at the Metropolitan Museum of Art's Costume Institute during a press conference October 9, 2024. (AFP)
Met Gala celebrity chair Lewis Hamilton speaks at the Metropolitan Museum of Art's Costume Institute during a press conference October 9, 2024. (AFP)
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It’s Met Gala Time! Get Yourself Suitable with This Guide on What to Expect

Met Gala celebrity chair Lewis Hamilton speaks at the Metropolitan Museum of Art's Costume Institute during a press conference October 9, 2024. (AFP)
Met Gala celebrity chair Lewis Hamilton speaks at the Metropolitan Museum of Art's Costume Institute during a press conference October 9, 2024. (AFP)

As springtime sunshine finally hits New York City, the Met Gala beckons — one of the most anticipated and visible parties in the world.

This year, the theme — “Tailored For You" — is focused on classic tailoring. As always, the dress code is inspired by the spring exhibit at the Costume Institute of the Metropolitan Museum of Art. “Superfine: Tailoring Black Style” is the first Met show to focus exclusively on Black designers, and the first in more than 20 years to have a menswear theme. The show looks at the evolution of Black style over the centuries through the lens of dandyism.

Here are some key things to know as fashion's biggest night approaches:

When is the Met Gala? The gala happens the first Monday in May — this year, May 5.

What exactly is the Met Gala? Not everyone knows that the gala is actually a fundraiser for the Costume Institute, the only self-funding department at the Met. Last year the evening brought in a whopping sum of more than $26 million to the museum's coffers.

Was it always this big? Definitely not. It started in 1948 as a Manhattan society midnight supper – held at various places like the Waldorf Astoria and the Rainbow Room. It took many years before it turned into a global event and one of the starriest nights of the year.

Who's hosting the 2025 Met Gala? Each year brings a new group of celebrity co-chairs. This year they are Pharrell Williams, Lewis Hamilton, Colman Domingo, and A$AP Rocky — along with Anna Wintour, the influential Vogue editor who always oversees the proceedings. NBA superstar LeBron James is honorary chair.

Who else is attending the Met Gala so far? Word on attendees trickles out slowly in the weeks leading up to the event. But this year there’s also a huge additional host committee with stars from various fields. (They don’t have specific host duties, other than showing up and, it goes without saying, looking fabulous.)

It includes athletes Simone Biles and husband Jonathan Owens, Angel Reese and Sha’Carri Richardson; filmmakers Spike Lee, Tonya Lewis Lee and Regina King; and actors Ayo Edebiri, Audra McDonald and Jeremy Pope, and musicians Doechii, Usher, Tyla, Janelle Monáe and André 3000.

Also in the group are author Chimamanda Ngozi Adichie; artists Jordan Casteel, Rashid Johnson and Kara Walker; playwrights Jeremy O. Harris and Branden Jacobs-Jenkins; and fashion figures Grace Wales Bonner, Edward Enninful, Dapper Dan and Olivier Rousteing.

Can anyone buy a ticket to the Met Gala? In a word: No. You cannot just buy a ticket. The right question is: If I were famous or powerful and got invited, how much would it cost?

If I were famous or powerful and got invited, how much would it cost? Individual tickets start at $75,000. Generally, though, companies buy tables. A fashion label, for example, would then host its desired celebrities. A table of 10 starts at $350,000 this year, as it did last year. There will be approximately 400 guests.

How strict is the dress code? The code is meant to be a guide, not a hard rule, and loose interpretation is encouraged.

How do guests spend the evening? Guests enter the museum and walk past an enormous flower arrangement in the museum’s grand lobby – always a talking point. Often there is an orchestra playing nearby. At the top of the grand staircase, Wintour and her co-hosts form a receiving line. Guests then head to view the exhibit, which is followed by dinner. The most hotly anticipated guests sometimes arrive around dessert time for maximum impact (we're looking at you, Rihanna).