De Sarno Pursues Gucci Reset with Embellished Coats at Milan Fashion Week

A model presents a creation from the Gucci Fall/Winter 2024 collection during Fashion Week in Milan, Italy, February 23, 2024. (Reuters)
A model presents a creation from the Gucci Fall/Winter 2024 collection during Fashion Week in Milan, Italy, February 23, 2024. (Reuters)
TT

De Sarno Pursues Gucci Reset with Embellished Coats at Milan Fashion Week

A model presents a creation from the Gucci Fall/Winter 2024 collection during Fashion Week in Milan, Italy, February 23, 2024. (Reuters)
A model presents a creation from the Gucci Fall/Winter 2024 collection during Fashion Week in Milan, Italy, February 23, 2024. (Reuters)

Gucci creative director Sabato De Sarno showed a lineup of ornately decorated wool coats on the catwalk in Milan on Friday, building on his approach for reigniting Kering’s prized label with sensual, pared-back styles.

Models marched down a slightly elevated runway in a sparse, window-lined space parading soft wool coats, long bustier dresses and trim suit jackets cinched with thin belts.

Adding to the chunky loafers, mini-shorts and glossy Jackie handbags that have become label signatures under the new designer's direction were thigh-high riding boots, small purses shaped like half moons, towering platform heels and delicate, see-through dresses with lace.

De Sarno's designs, which have begun trickling into stores, are key to reigniting sales at Gucci, Kering’s largest brand, accounting for half of the French luxury group’s sales and over two thirds of its profit.

The French group recently overhauled top management, sending longtime executive Jean-Francois Palus to Italy to manage the label as it pushes Gucci upmarket.

This consists of emphasizing more classic styles and leather goods in a bid to regain traction after losing ground to rivals like LVMH's Dior and Louis Vuitton.

Stores will not be fully stocked with De Sarno’s styles until later in the year - perhaps by June - but early signs are “very encouraging”, Kering deputy CEO Francesca Bellettini said earlier this month.

The group cautioned that margins will be lower this year as it continues to invest in Gucci.

UBS analysts have flagged early signs of "improving brand heat", noting Gucci is "in a much better place than before,” earlier this month.



H&M to Close Digital Outlet Afound

The H&M clothing store is seen in Times Square in Manhattan, New York, US, November 15, 2019. (Reuters)
The H&M clothing store is seen in Times Square in Manhattan, New York, US, November 15, 2019. (Reuters)
TT

H&M to Close Digital Outlet Afound

The H&M clothing store is seen in Times Square in Manhattan, New York, US, November 15, 2019. (Reuters)
The H&M clothing store is seen in Times Square in Manhattan, New York, US, November 15, 2019. (Reuters)

H&M will close down digital fashion outlet Afound later this year due to weak demand, the Swedish group said in a statement on Wednesday.
"When evaluating Afound's current position, we don't see enough demand, partly because brands increasingly choose to use their own channels for sales, to further strengthen their customer relationships," H&M said.
Launched in 2018 as an outlet business with physical stores to sell marked-down clothes from many external brands, Afound later tweaked its strategy to expand online.
Afound sold clothes in seven European countries including Sweden, Germany and the Netherlands, according to its website.