The China Mail - 'Brilliant artist': Provocateur Demna takes on slumping Gucci

USD -
AED 3.672504
AFN 66.402915
ALL 83.761965
AMD 382.479768
ANG 1.789982
AOA 916.999963
ARS 1450.75024
AUD 1.543246
AWG 1.805
AZN 1.705751
BAM 1.695014
BBD 2.010894
BDT 121.852399
BGN 1.695501
BHD 0.377002
BIF 2945.49189
BMD 1
BND 1.302665
BOB 6.907594
BRL 5.350303
BSD 0.998384
BTN 88.558647
BWP 13.433114
BYN 3.402651
BYR 19600
BZD 2.007947
CAD 1.412355
CDF 2149.999847
CHF 0.80776
CLF 0.024051
CLP 943.503075
CNY 7.11935
CNH 7.126345
COP 3784.2
CRC 501.791804
CUC 1
CUP 26.5
CVE 95.850058
CZK 21.109048
DJF 177.785096
DKK 6.473835
DOP 64.236284
DZD 130.470559
EGP 47.295599
ERN 15
ETB 153.291763
EUR 0.867014
FJD 2.28685
FKP 0.766404
GBP 0.76237
GEL 2.705013
GGP 0.766404
GHS 10.945027
GIP 0.766404
GMD 72.999692
GNF 8666.525113
GTQ 7.6608
GYD 209.15339
HKD 7.774615
HNL 26.251771
HRK 6.531903
HTG 130.6554
HUF 334.943976
IDR 16696.4
ILS 3.26455
IMP 0.766404
INR 88.70705
IQD 1310
IRR 42100.000147
ISK 126.759455
JEP 0.766404
JMD 160.148718
JOD 0.709024
JPY 153.409007
KES 129.1971
KGS 87.450022
KHR 4025.000393
KMF 421.000245
KPW 900.033283
KRW 1456.565008
KWD 0.307037
KYD 0.832073
KZT 525.442751
LAK 21694.999894
LBP 89550.000191
LKR 304.463694
LRD 183.250302
LSL 17.409918
LTL 2.95274
LVL 0.60489
LYD 5.46902
MAD 9.334002
MDL 17.092121
MGA 4502.259796
MKD 53.325591
MMK 2099.044592
MNT 3585.031206
MOP 7.994609
MRU 39.945401
MUR 45.910399
MVR 15.404991
MWK 1731.225057
MXN 18.55978
MYR 4.177501
MZN 63.949976
NAD 17.409776
NGN 1437.150263
NIO 36.7374
NOK 10.20723
NPR 141.508755
NZD 1.78071
OMR 0.384493
PAB 0.999779
PEN 3.37875
PGK 4.273464
PHP 59.101002
PKR 280.850359
PLN 3.68449
PYG 7072.751145
QAR 3.6405
RON 4.409499
RSD 101.629224
RUB 81.248559
RWF 1450
SAR 3.75058
SBD 8.230592
SCR 14.861017
SDG 600.499239
SEK 9.57983
SGD 1.304335
SHP 0.750259
SLE 23.201624
SLL 20969.499529
SOS 570.604013
SRD 38.503498
STD 20697.981008
STN 21.232987
SVC 8.735857
SYP 11056.895466
SZL 17.336517
THB 32.380498
TJS 9.227278
TMT 3.51
TND 2.950498
TOP 2.342104
TRY 42.194465
TTD 6.76509
TWD 30.981498
TZS 2462.498387
UAH 42.011587
UGX 3491.096532
UYU 39.813947
UZS 11951.241707
VES 228.19401
VND 26310
VUV 122.169446
WST 2.82328
XAF 568.486781
XAG 0.020626
XAU 0.00025
XCD 2.70255
XCG 1.799344
XDR 0.707015
XOF 568.486781
XPF 103.905843
YER 238.504229
ZAR 17.377896
ZMK 9001.19704
ZMW 22.588431
ZWL 321.999592
  • RBGPF

    0.0000

    76

    0%

  • SCS

    -0.1700

    15.76

    -1.08%

  • BCC

    -0.6500

    70.73

    -0.92%

  • CMSC

    -0.0500

    23.78

    -0.21%

  • CMSD

    0.0000

    24.01

    0%

  • NGG

    0.9200

    76.29

    +1.21%

  • GSK

    0.4100

    47.1

    +0.87%

  • AZN

    2.6200

    83.77

    +3.13%

  • BCE

    0.7800

    23.17

    +3.37%

  • RIO

    0.2100

    69.27

    +0.3%

  • JRI

    -0.0200

    13.75

    -0.15%

  • RELX

    -1.1900

    43.39

    -2.74%

  • RYCEF

    -0.3000

    14.8

    -2.03%

  • VOD

    0.0700

    11.34

    +0.62%

  • BTI

    0.3300

    54.21

    +0.61%

  • BP

    0.1400

    35.82

    +0.39%

'Brilliant artist': Provocateur Demna takes on slumping Gucci
'Brilliant artist': Provocateur Demna takes on slumping Gucci / Photo: © AFP/File

'Brilliant artist': Provocateur Demna takes on slumping Gucci

Celebrated, controversial and clearly up for a challenge, fashion designer Demna is set to step into one of the most difficult jobs in the luxury clothing industry next week as chief creative at struggling Gucci.

Text size:

The 44-year-old, who fled the war-wracked Georgian region of Abkhazia as a child and dropped his surname "Gvasalia" in 2021, will bow out with a last show for Balenciaga on Wednesday before switching to Gucci -- both firms owned by France's luxury giant Kering.

"Demna's contribution to the industry, to Balenciaga, and to the group's success has been tremendous," Kering chairman and CEO Francois-Henri Pinault said at the time. "His creative power is exactly what Gucci needs."

Investors were not so convinced and shares in Kering, which counts on Gucci as its main profit generator, fell around 12 percent on the day of the announcement before slumping even further.

Other more established and mainstream designers from Hedi Slimane, Maria Grazia Chiuri or Pierpaolo Piccioli had been linked to the vacancy.

Some analysts have questioned whether Demna's recipe for success at Balenciaga -- which leant heavily on provocative, streetwear-influenced design and showmanship -- can be replicated at the more classic Italian house.

"He is iconoclast and ironic, which is good to attract attention toward a small brand like Balenciaga," Luca Solca, a luxury analyst at the Bernstein brokerage, wrote afterwards. "However, we are not sure the strategy would work as well for a bigger brand."

- 'Absolutely uncompromising' -

Demna's final show for Balenciaga will take place on Wednesday during Haute Couture fashion week in Paris and he will join the Italian label the very next day.

During a decade at the Spanish-born but Paris-based brand, he drove sales and attention sharply higher with a mix of headline-grabbing creations as well as personal publicity -- not always positive.

He achieved notoriety with his $2,000 "Ikea" bag, a luxury leather version of the 99-cent original.

He followed it up with an $1,800 garbage bag -- the so-called "trash pouch" -- in a show in March 2022 that was dedicated to Ukrainian refugees.

Other daring designs included a head-to-toe black shroud that US reality television star Kim Kardashian -- a personal friend -- wore to the Met Gala in 2021.

A-list celebrity endorsements have been plentiful, but have not always worked out.

Kanye West —- Kardashian's ex and another friend -- opened Balenciaga's show in October 2022 shortly before the first of several anti-Semitic outbursts, and the group had to cut ties with the rapper.

Demna's lowest point came in February 2023 when he was forced to apologise for an ad campaign that appeared to reference child abuse and had underage models in what looked like bondage gear.

He has plenty of fans among Gen Z tastemakers, however.

"I've always gravitated toward Balenciaga, because I love Demna's vision," British pop sensation Charli XCX told British Vogue last year.

"He feels like he's speaking his own language, which is absolutely uncompromising, and to me, that's what makes a brilliant artist."

- 'Aggression and darkness' -

Annual sales at Balenciaga were estimated to be $350 million when he arrived and had surged to about $2 billion in 2022, according to GQ magazine.

Gucci's fortunes have headed in the other direction: they slid 23 percent last year, prompting Kering to fire creative director Sabato de Sarno after only two years in the job.

Demna is a graduate of the Royal Academy of Fine Arts in Antwerp in Belgium and went on to work at Maison Margiela and Vuitton.

He co-founded the label Vetements with his brother in 2014, a year before he was named to the top job at Balenciaga.

For many years, his childhood trauma fleeing pro-Russian separatists in his homeland affected his work, but he told Vanity Fair in 2021 that counselling, meditation and exercise had helped exorcise some demons.

"Fashion used to feel like a battle for me. That is why there was a lot of aggression and darkness in what I did. Today I feel at peace with the system," he said.

neo-pel-mdv-adp/jxb

B.Clarke--ThChM