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)
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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.



Estee Lauder’s Long-Time CEO Fabrizio Freda to Retire 

The Estee Lauder section of the Nordstrom flagship store is seen during a media preview in New York, US, October 21, 2019. (Reuters)
The Estee Lauder section of the Nordstrom flagship store is seen during a media preview in New York, US, October 21, 2019. (Reuters)
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Estee Lauder’s Long-Time CEO Fabrizio Freda to Retire 

The Estee Lauder section of the Nordstrom flagship store is seen during a media preview in New York, US, October 21, 2019. (Reuters)
The Estee Lauder section of the Nordstrom flagship store is seen during a media preview in New York, US, October 21, 2019. (Reuters)

Estee Lauder said on Monday its long-time CEO Fabrizio Freda had decided to retire from the company at the end of fiscal 2025.

Freda joined Estee in 2008 as president and chief operating officer and was later named the MAC lipstick maker's CEO.

Estee said the board was considering internal and external candidates as part of its CEO succession planning.

Until a successor is appointed, Freda will continue to lead and oversee the company's strategic, financial and investment priorities, Estee said.

Estee has trimmed its global workforce and is trying to shore up its margins as part of a turnaround plan.

The company's results are due later on Monday.