The insight: Creative shakeups at Gucci and Versace reflect the uncertainty facing the luxury industry as spending becomes more unpredictable.
- Gucci’s decision to tap provocateur Demna as artistic director reflects a considerable U-turn from its recent attempts to capitalize on the quiet luxury trend and attract more affluent shoppers.
- Versace, meanwhile, is sticking to a familiar playbook. The company is bringing on Dario Vitale, previously design director at current it-brand Miu Miu, as it looks to elevate its positioning—and potentially be acquired by Miu Miu parent Prada.
The luxury landscape: The diverging tactics of Gucci and Versace show how hard it is to attract luxury spenders amid a shrinking pool of shoppers and growing economic uncertainty.