Marco Bizzarri Is Exiting Gucci
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MILAN — Marco Bizzarri is exiting Gucci in September, Kering said Tuesday.
His exit is part of a management shuffle at Kering. WWD first reported on Bizzarri’s exit based on sources.
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Bizzarri had recently renewed his three-year contract. Last January, Kering chairman and chief executive officer François-Henri Pinault told WWD that Gucci’s longtime president and CEO would stay in place and lead the brand in the post-Alessandro Michele period, squelching persistent speculation of a management change, expressing trust in the executive and confidence in the success of the next chapter.
Bizzarri led a textbook turnaround at the Italian luxury brand. With former creative director Michele, who left in November, the size of Gucci tripled since 2015, reaching sales last year of 9.73 billion euros.
Michele suddenly exited his role as creative director of Gucci amid disagreement over the future of the brand, which the designer had energized with gender-fluid, retro-tinged glamour.
After Michele’s appointment in 2015, Gucci posted growth exceeding 35 percent for five consecutive quarters by the first quarter of 2018, prompting Bizzarri to set a 10 billion euro revenue target for the brand in June that year. However, the brand has struggled over the last few years with slower growth than many of its luxury peers, prompting Michele’s exit.
Bizzarri chose Valentino designer Sabato de Sarno to succeed Michele and the designer’s first collection will bow in Milan in September for spring 2024.
Since Michele’s exit, the collections have been designed by Gucci’s in-house team.
As reported, organic sales at Gucci were up 1 percent in the first quarter, compared with a 14 percent drop in the prior three months.
The figures were slightly above a consensus of analyst estimates, which had called for a 1 percent rise in overall comparable sales to 5.04 billion euros. Like-for-like sales at Gucci had been forecast to remain flat.
Gucci has been working on raising the brand’s profile in key markets through initiatives that include the launch of Salon, permanent and temporary spaces where high rollers can order bespoke luggage, exotic leather goods, furniture and high jewelry, with prices ranging from about 40,000 euros to 3 million euros.
The first ultra-luxe Salon store opened in Los Angeles in April, complete with fresh-off-the-red-carpet gowns.
Commenting on Kering’s first-quarter results, chief financial officer Jean-Marc Duplaix said the Italian brand saw an acceleration in sales in March and April but remains in the midst of a turnaround plan in China, aiming to enhance the retail experience, admitting weakness compared to some peers.
Bizzarri was appointed Gucci president and CEO in December 2014, and he promoted Michele to the top creative spot in 2015, with the goal to make Gucci more directional and the brand’s shows must-sees.
Bizzarri started his career at Andersen Consulting, now Accenture. Leaving Andersen for Mandarina Duck in 1993 was a big leap — the first of many in Bizzarri’s career. He developed the brand’s international markets, setting up factories in Shanghai, Hong Kong and Hungary, and, after 10 years, he moved on to Marithé + François Girbaud for a brief stint.
His first executive role within Kering, at the time called Gucci Group, was in January 2005, when he joined as president and CEO of Stella McCartney. After building Stella McCartney into a profitable company, in January 2009 Bizzarri was appointed president and CEO of Bottega Veneta. The relaunch of Bottega Veneta completed, Bizzarri asked Pinault for a new position, in April 2014 becoming Kering’s CEO of Luxury — Couture & Leather Goods. It was a short-lived role: He was appointed president and CEO of Gucci in December of the same year.
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