Visitors walk past a Gucci store at Marina Bay Sands in Singapore on Jan 19, 2023.PARIS - Sabato De Sarno, newly appointed by Kering to reinvigorate its prized Gucci brand, needs to spark heat with a new direction, analysts say - a delicate task, given the emphasis executives have also put on the label's timeless appeal.
But analysts say De Sarno will also have to generate buzz with hot new styles – a strategy that has traditionally served the brand well, compared to the path taken by some rivals that focus more strongly on signature classics, especially handbags. However in recent quarters Gucci has lagged rivals including Hermes and LVMH's top brand Louis Vuitton, with its performance in the key Chinese market becoming a source of concern for investors amid Covid-19 lockdowns.
"Another bold choice that may work well again," said Jefferies analyst Flavio Cereda, though he cautioned that the director's task was not "straightforward this time".
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