It's been a big week for fashion. It feels like that happens regularly these days, as creative directors and chief executives play what seems to be an endless game of musical chairs – moving from fashion house to fashion house.
The biggest two pieces of news are that Donatella Versace is stepping aside as creative director of the brand that carries her name, and that Demna is leaving Balenciaga to take over at Gucci.
Donatella Versace steps aside
Verscace's departure comes after almost 30 years in the role. She was by her brother Gianni's side when he launched the house in 1978 and was his muse for every collection. When he was murdered in 1997, she stepped up and took control, continuing his vision through her own grief. Now she is stepping aside to take on the role of global brand ambassador, handing the chief designer reins to former Miu Miu design director Dario Vitale.
Vitale is credited, in part at least, with the recent sales surge at Miu Miu, which has tapped into the desires of dynamic, younger clients. The Prada Group, which owns both Prada and Miu Miu, is thought to be inching closer to purchasing Versace, so the arrival of Vitale will be seen as a something of a new era at the beloved, but somewhat tired, label.
Demna moves from Balenciaga to Gucci
Georgian designer Demna – who dropped his surname Gvasalia a few years ago – is shifting from one Kering-owned company to another. He has been creative director at Balenciaga since 2015, overseeing soaring sales and huge success. He has reinstated Balenciaga's couture atelier to great acclaim and helped bring oversized clothes and gigantic trainers into the everyday.
However, his tenure has not been without mistakes. He survived a series of them after a period away from the spotlight and a promise to remain focused on design over notoriety. Now, after almost ten years at Balenciaga, he is seeking a new challenge at Gucci.
Gucci is the biggest brand owned by Kering, but sales flagged under the maximalist approach of former creative director Alessandro Michele. The pared-back offerings of his successor, Sabato de Sarno, failed to improve things. When De Sarno quit in February, it sparked a frenzy of rumours about who might take over. Demna has landed the plum job.
Why are there always so many big announcements in the fashion world?
The who-works-where discourse in the fashion world is a tale without end. It is an industry in a constant state of flux, with names moving from one house to the next. Big announcements are never far away, but the recent news is seismic, even for an industry that is used to show-stopping statements.
With the luxury sector stalling, companies are looking for creative directors to spark customer interest. Those who fail are quickly replaced. Fashion is big business and the public face of brands are expected to set cash tills ringing.
Recent struggles to convert interest into hard sales are causing concern across the industry, as evidenced by a recent spate of resignations and moves.
Change isn't only happening on the creative side. Behind the scenes there have been other major moves. Frederic Arnault, son of LVMH conglomerate owner Bernard Arnault, has been appointed chief executive of the LVMH company Loro Piana, with outgoing chief executive Damien Bertrand shifting across to Louis Vuitton, another LVMH brand, as deputy chief executive.
Demna to Gucci and Vitale to Versace are the latest in a string of big announcements, following Sarah Burton's arrival at Givenchy and Haider Ackermann's move to Tom Ford. The industry is also awaiting the debut of Louise Trotter at Bottega Veneta and Matthieu Blazy at Chanel later this year.
