Gucci Designer Giannini Exits Early as New CEO Takes Control

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Gucci Creative Director Frida Giannini has left the fashion house a month earlier than planned as a new chief executive officer begins the task of reviving the brand.

Giannini exited the company last week, a spokeswoman for the brand’s owner Kering SA said today. The men’s and women’s collections will be presented as planned on Jan. 19 and Feb. 25 respectively, Gucci said in a statement. An announcement on Giannini’s successor will be made “in due course,” the maker of $650 horsebit loafers said.

Marco Bizzarri started as CEO this month as Kering shakes up its biggest brand after five quarters of little to no growth. Kering announced last month that Giannini and former CEO Patrizio Di Marco, her partner, were leaving.

“I would like to take this opportunity to acknowledge the outstanding contribution that Frida Giannini has made to Gucci’s legacy during her nine-year tenure as creative director,” Bizzarri said in the statement.

Kering shares were up 1.6 percent at 161.50 euros as of 2:27 p.m. in Paris.

(Updates with Gucci statement from second paragraph.)
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