- Luxury goods company Kering SA (OTC:PPRUF) CEO Francois-Henri Pinault reportedly said, the new creative director for Gucci, Sabato De Sarno is expected to join in the second quarter.
- Gucci announced the appointment of De Sarno in January after parting ways with its famous designer Alessandro Michele in November 2022, Reuters reported.
- The move came as the fashion label’s sales lagged competitors.
- De Sarno is slated to present his first fashion collection in September and his product range will come to stores in early 2024.
- Gucci’s FY22 revenue grew 8% Y/Y to €10.5 billion.
- Price Action: PPRUF shares closed higher by 1.23% at $610.80 on Tuesday.
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