A model wears a creation as part of the Gucci Autumn/Winter 2025 show in Milan last month. Photo: AP
Kering SA appointed Balenciaga designer Demna Gvasalia (popularly known as just Demna) to oversee a makeover of its struggling Gucci fashion label, disappointing investors who had expected a high-profile external hire.
Shares of the French luxury-goods company plunged 11% in Paris early Friday (March 14) after the announcement late Thursday (March 13).
