KERING shares decreased by 13 % after the design

shares dry It fell on Friday after the company announced that Demna Gvasalia will take matters as a new technical manager for the patient’s patient fashion line.

Gvasalia, known as DEMNA, joins this industry, internally from the KERING -owned Balenciaga. It replaces Sabato de Sarreno, whose departure was announced last month.

The shares decreased by 13.2 % by 9:11 am London time.

“The contribution of DEMNA to industry, in Balenciaga, and the success of the group was enormous. His creative strength is exactly what Gucci needs,” said the Chairman and CEO of Kering François-HeenRi Pinault in a statement.

Demna, the first non -Italian technical manager in Georgian National and Gucci since Tom Ford, has been nearly a decade in the younger Kering brand in Balenciaaga. It is known for bringing street clothes to the luxurious field.

The controversy was shattered in 2022 in the wake of an advertising campaign that includes children with products like slavery. One of the ads included a child carrying a handbag in the form of a teddy bear stuffed in belts similar to slavery, while other distinctive papers, including a text from the 2008 Supreme Court ruling related to children’s pornography.

The appointments are the latest attempt by Kiring to navigate in the main Gucci brand, which represents about half of the total group revenues but suffered from its sales amid the weakest demand from the main Chinese market.

Gucci sales 24 % decreased Annually in the fourth quarter to 1.92 billion euros, King said last month, amid a 12 % wider decrease in the group’s revenues.

KERING has confirmed that DEMNA will become valid as of July 2025.

Speculation was rising that KERING may seek an external date to revive the fortunes of Gucci after years of maximum pattern of Vogue fell amid a transformation at the industry level towards industry “A calm luxury.”

When writing on Thursday note, Jefferies analysts said that the company will now need to “move at a pace” to stimulate the costumes in Gucci.

“However, given that Demna will take over in early July, it is unclear whether his mark on the brand will be already clear at the Gucci fashion show in September. Or if we have to wait until 2026,” they noticed.