👜🔄 Da Gucci Top Boss Make Li’dat Slide Out! Shaking Tings Up At Kering, Da Big Fashion Kahuna! 😲👔

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Aloha, my braddahs and sistahs! 🤙 We get one beeg kine shake up in da fashion world, brah! Dat mean, da Kering group, wea stay da boss of da Gucci label, wen go and make choke changes to da high maka maka peepo running da show. 😮👥💼 Dey all trying fo’ start fresh, get out of da big shadow of da LVMH, their rival, cuz. 🌤🌴🚀

Fo’ plenny years, Marco Bizzarri, one bald and snazzy kine executive, stay powahful and respect inside da kine luxury world, you know? 😎💰 He wen set up da flyin’ high success of Gucci, da tita of da fashion brands undah da Kering group, coming from France. Da group also get Balenciaga, Bottega Veneta, and Saint Laurent, brah. 🇫🇷👜💎

But, jus’ like when da surf go flat, aftah one year of da sales going south and Gucci’s creative director, Alessandro Michele, wen suddenly cut out, Bizzarri wen quietly leave Gucci aftah being da boss fo’ eight years. 😲🛹⏳ Da Kering group wen let peepo know inside one small kine memo dat dey going get choke changes in da way tings stay run. Da big boss, François-Henri Pinault, try fo’ make new kine story fo’ Gucci and da whole Kering group. 📝💭🔄

Inside da same memo, dey wen say Francesca Bellettini, da boss of Yves Saint Laurent, going be da second in command for da brand development. Dis kine promotion mean dat all da Kering brand executives going report to her, making her one of da most powahful wahine inside da luxury business. 😍👠💪 And Jean-Marc Duplaix, da money man of Kering, also going be one deputy boss, overseeing da operations and da money business. 💹💰👨‍💼

“We building one solid organization fo’ grab all da growth of da global luxury market,” Mr. Pinault wen say in da memo. “I get faith dat da changes we making today going set Kering on da road to success and make good kala fo’ da long run.” 🌐💰🚀

Dis big shuffle wen follow da recent purchase of da beauty brand Creed by da group, da first big buy aftah deciding in February fo’ make one separate division for beauty — showing Kering’s plans fo’ reinvent demselves. 💅💄🔄

On top of dat, plenty talk story dat Mr. Pinault stay deep in talks fo’ buy most of da Hollywood talent agency CAA with da help of Artémis, his ohana investment company, da main shareholder in Kering. Howevah, wen ask, da spokesman for Mr. Pinault and Artémis, no like talk about dat. 🎬💼🤫

Even though Kering get all da hot brands and huge cultural impact, still get one kine story dat Kering is da big rival to LVMH Moët Hennessy Louis Vuitton, da biggest group in da luxury business. But LVMH, with more than 75 luxury brands, make da Kering’s 14 labels look small, cuz, in terms of sales and market value. 🤼‍♂️👜💸

Recently, Kering wen trip up. Their stock not doing so good compared to other guys like Hermes and LVMH. Plus, plenty scandals inside some of da biggest Kering fashion houses making waves fo’ da group. 📉👀😱

Balenciaga, once da hottest brand in da fashion calendar, wen take one big fall last year aftah being accused of promoting pedophilia in its ads; still trying fo’ regain momentum. Then get more pilikia at Gucci, which made two-thirds of Kering profits in 2021 and undah Mr. Michele, was all pau for starting a new era of being inclusive and emotional in fashion. 📉👀😱

But, Michele — not well known in fashion until Bizzarri wen pick him to lead Gucci — left in November aftah not agreeing with the bosses about Gucci’s future. He wen get replaced by Sabato De Sarno, who going show his first collection during Milan Fashion Week in September. 👋👨‍🎨👠

Until now, everyone thought dat Mr. Bizzarri, who wen help Gucci make over 10 billion euros from just €3.89 billion, was going stay and lead Gucci into its next era. 🚀💰👀

Instead, he going be replaced in September by Jean-François Palus, da managing director of da Kering group, who going fill da role until dey find da right successor. 👋🔄👥

Citibank, in one note about investing, called da moves “well-thought and logical, reinforcing decision-making, governance and succession while showing further determination to transform Gucci.” 📝🎯🔄 So, brah, we gotta wait and see how all dis goin’ affect da fashion world! 🌍👔👀

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NOW IN ENGLISH

👜🔄 Gucci CEO to Quietly Exit! Major Leadership Shake-Up at Kering, the Fashion Giant! 😲👔

Hello, brothers and sisters! 🤙 There’s a big shake-up in the fashion industry! Meaning, the Kering group, owner of the Gucci label, has announced significant changes to the top tier individuals running the company. 😮👥💼 They are all trying to start anew, escaping from the looming shadow of their competitor, LVMH. 🌤🌴🚀

For many years, Marco Bizzarri, a bald and stylish executive, held power and respect in the luxury world. 😎💰 He was the architect of Gucci’s soaring success, the leading fashion brand under the Kering group from France, which also includes Balenciaga, Bottega Veneta, and Saint Laurent. 🇫🇷👜💎

However, just like when the surf dies down, after a year of declining sales and the sudden departure of Gucci’s creative director, Alessandro Michele, Bizzarri quietly left Gucci after eight years as its leader. 😲🛹⏳ Kering made this known in a small memo announcing a major overhaul in their management structure. François-Henri Pinault, the CEO, is aiming to create a new narrative for Gucci and the Kering group. 📝💭🔄

In the same announcement, they stated that Francesca Bellettini, the CEO of Yves Saint Laurent, would become the deputy CEO in charge of brand development. This promotion means all the Kering brand executives will report to her, making her one of the most powerful women in the luxury business. 😍👠💪 Jean-Marc Duplaix, the CFO of Kering, will also become a deputy CEO, overseeing operations and finances. 💹💰👨‍💼

“We are building a solid organization to capture all the growth of the global luxury market,” Mr. Pinault stated in the memo. “I am confident that the changes we are making today will set Kering on the path to success and sustainable profitability in the long term.” 🌐💰🚀

This significant reshuffling followed the group’s recent purchase of the beauty brand Creed, their first major acquisition after their decision in February to create a separate division for beauty products — signaling Kering’s plans for reinvention. 💅💄🔄

Additionally, there are many rumors that Mr. Pinault is deep in negotiations to purchase a majority stake in the Hollywood talent agency CAA, with the help of Artémis, his family investment company, the main shareholder in Kering. However, a spokesperson for Mr. Pinault and Artémis declined to comment on this. 🎬💼🤫

Despite Kering’s trendy brands and substantial cultural impact, a narrative has emerged painting Kering as the chief competitor to LVMH Moët Hennessy Louis Vuitton, the biggest group in the luxury industry. But LVMH, with more than 75 luxury brands, dwarfs Kering’s 14 labels in both sales and market value. 🤼‍♂️👜💸

Recently, Kering has faltered. Their stock performance has lagged behind key competitors like Hermes and LVMH. Plus, several scandals inside some of Kering’s largest fashion houses have caused turmoil for the group. 📉👀😱

Balenciaga, once the hottest brand on the fashion calendar, had a severe downfall last year after accusations of promoting pedophilia in its advertisements; they are still trying to regain momentum. There are also ongoing troubles at Gucci, which generated two-thirds of Kering’s profits in 2021 and under Mr. Michele, was praised for beginning a new era of inclusivity and emotional resonance in fashion. 📉👀😱

However, Michele — not well-known in fashion until Bizzarri chose him to lead Gucci — left in November after disagreeing with the management about Gucci’s future direction. He was replaced by Sabato De Sarno, who will debut his first collection during Milan Fashion Week in September. 👋👨‍🎨👠

Up until now, everyone assumed that Mr. Bizzarri, who helped Gucci increase its revenue to more than 10 billion euros from just €3.89 billion, would stay on to guide the brand into its next era. 🚀💰👀

Instead, he will be replaced in September by Jean-François Palus, the managing director of the Kering group, who will fill the role until a suitable successor is found. 👋🔄👥

Citibank, in an investment note, called the moves “well-thought-out and logical, reinforcing decision-making, governance, and succession while showing further determination to transform Gucci.” 📝🎯🔄 So, brothers and sisters, we’ll have to wait and see how all of this affects the fashion world! 🌍👔👀