After transforming Balenciaga into a temple of chic streetwear (or chic in jogging pants, depending on the style), Demna is packing her bags to take over as artistic director of Gucci. Her mission? To revive the Italian fashion house with ever bolder ideas. In other words, to make new things out of old, but at a higher price.

‘Demna will bring something exceptional to Gucci,’ said Gucci CEO Stefano Cantino, looking serious and inspired in front of an army of journalists.  Translation: let’s hope he can sell sneakers with holes in them and bags that look like bin liners, but with Gucci branding.

The announcement came as a bombshell in the luxury microcosm, but had already been announced on Canal-luxe.com two months ago, and the musical chairs are endless. Matthieu Blazy at Chanel? Jonathan Anderson at Dior? Donatella Versace on holiday at last?

But back to Gucci. The brand is desperate to recapture its former glory, since the exuberant era of Alessandro Michele came to an end in 2022, leaving behind a baroque wardrobe and a rollercoaster turnover.

Gucci is preparing for an era in which the avant-garde will flirt with the absurd. And fashionistas the world over are already buzzing to see what the next it-bag will look like. A lambskin version of a bin bag? A tote bag inspired by a market shopping bag?

In any case, a new era is beginning, and one thing is certain: fashion has never been better off… at least financially.

FM