>>> Up
* Advanced Medical Raised to Buy at Liberum; PT 230 pence (+)
* Amplifon Raised to Buy at HSBC; PT 35 euros
* B&M European Raised to Outperform at BNPP Exane; PT 720 pence (+)
* Clariant Raised to Buy at Jefferies; PT 17 Swiss francs
* Geberit Raised to Neutral at Oddo BHF
* Geberit Raised to Neutral at Oddo BHF
* Hugo Boss Raised to Buy at Jefferies; PT 80 euros
* PGS Raised to Buy at SEB Equities; PT 12.60 kroner
* Telia Raised to Equal-Weight at Morgan Stanley; PT 25 kronor
>>> Down
>>> Down
* AB Foods Cut to Neutral at BNPP Exane; PT 2,325 pence (+)
* BAE Cut to Hold at SocGen; PT 1,121 pence
* Experian Cut to Neutral at BNPP Exane; PT 2,920 pence (+)
* Kering Cut to Hold at Jefferies; PT 500 euros
* Leonardo Cut to Hold at SocGen; PT 15.60 euros
* Leonardo Cut to Hold at SocGen; PT 15.60 euros
* LVMH Cut to Hold at Jefferies; PT 780 euros
* Moncler Cut to Hold at Deutsche Bank; PT 64 euros
* Moncler Cut to Hold at Jefferies; PT 60 euros
* Richemont Deutsche Bank cut PT 165 (170) CHF - buy
* Swatch Cut to Hold at Jefferies; PT 260 Swiss francs
* Thales Cut to Hold at SocGen; PT 144 euros
* WPP Cut to Neutral at BNPP Exane; PT 840 pence
>>> Initiation
>>> Initiation
* Bytes Technology Rated New Buy at HSBC; PT 625 pence
* Computacenter Rated New Buy at HSBC; PT 3,015 pence
* Daimler Truck Rated New Buy at M.M. Warburg; PT 49 euros (+)
* Delivery Hero Rated New Buy at Hauck & Aufhaeuser; PT 65 euros (+)
* IBM Reinstated Outperform at RBC; PT $188
* Iqgeo Group Rated New Buy at Investec; PT 390 pence
* Instacart Rated Hold at Needham on Slowing Growth Potential
* Ithaca Energy Rated New Buy at Peel Hunt; PT 210 pence
* Medcap Rated New Buy at SEB Equities; PT 327 kronor
* Medcap Rated New Buy at SEB Equities; PT 327 kronor
* Softcat Rated New Hold at HSBC; PT 1,580 pence
>>> Call
>>> Call
* BofA Quant Strategists Lift S&P 500 End-2023 Target to 4,600 (+)
* Jefferies Upgrades Clariant, Welcomes Sunliquid Sense of Urgency
* Jefferies Upgrades Clariant, Welcomes Sunliquid Sense of Urgency
HanesBrands Considers ‘Strategic Options’ for Champion
The intimates giant is putting a for sale sign on the active brand amid pressure from activist investor Barington.
Champion Powerblend Fleece Relaxed Hoodie
HanesBrands is taking a hard look at Champion — putting a for sale sign on the struggling active brand.
As it explores “strategic options for the global Champion business,” the intimates giant said its board would “consider a broad range of alternatives to maximize shareholder value” including “a potential sale or other strategic transaction.”
The brand could also remain part of HanesBrands, which has been taking heat from activist investor Barington Capital Group, which has a long history in fashion, mixing it up with L Brands, Avon Products, The Jones Group and Warnaco, among others.
James Mitarotonda, Barington’s chairman, hit the HanesBrand with a broadside last month, saying the company needed to focus on “cash generation and debt reduction” and that “management’s largely ineffective response to recent market challenges is responsible for the company’s rapidly deteriorating results.”
Champion’s first-half sales fell by 14 percent, with a 25 percent decline in the U.S. — a big drag for HanesBrands, which overall saw sales for the six months drop 8.5 percent to $2.8 billion.
Stephen Bratspies, the Walmart veteran who HanesBrands tapped as chief executive officer in 2020, told analysts last month that Champion was being positioned for the future but that only some of the efforts were “translating to financial results” thus far.
“We’ve seen solid performance within our retail business,” Bratspies said. “Our footwear business continues to build momentum, and we’re leveraging our global scale by bringing our top-performing styles to the U.S.”
But wholesalers have been cautious with fall/winter orders — a headache that is widely felt in fashion right now, but one that seems to have hit Champion particularly hard.
“In the U.S., Champion is not where we expected it to be at this point in time,” the CEO said. “This is clear in our results and our outlook. And as a result, we’re actively taking steps that we believe will drive the long-term success of the brand. We brought in new leadership, which is driving new talent in design, merchandising and sales.
“We’ve completed our first full global product line from the new team, which is based on our disciplined global segmentation approach and will be available for the 2024 fall/winter selling season,” he said. “In total, nearly one-third of our 2024 product and fabric platforms will be global versus zero today.”
That has the brand coming to market when it’s in a fast decline and in the midst of a major reworking — a tough proposition even though the dealmaking market is starting to heat up.
But clearly the board feels it has to explore its options, and publicly, as Barington needles it on its “excessive debt burden,” which according to S&P Capital IQ weighs in at $4.2 billion.
Shares of HanesBrands inched up 0.9 percent to $4.50 on Tuesday, leaving the company with a market capitalization of $1.6 billion.
Ronald Nelson, chairman of HanesBrands, said, “Champion is a renowned global lifestyle brand, with a storied heritage in sports as the pioneer of American athletic wear. In recent years, the executive leadership team has implemented significant structural improvements within Champion that have resulted in greater distinction between the company’s innerwear and activewear businesses. With this in mind, and after careful consideration, we have commenced a comprehensive review of strategic options for the global Champion business. We are committed to working with our advisers to identify the right path forward that enables both Champion and HanesBrands to reach their fullest potential and maximizes value.”
Goldman Sachs & Co. and Evercore are advising HanesBrands.
- Delivery Hero (DHER TH) +2.7%
- Delivery Hero Rated New Buy at Hauck & Aufhaeuser; PT 65 euros
- Hugo Boss (BOSS TH) +1.9%
- LVMH, Kering, Moncler Cut to Hold at Jefferies on China Weakness
- Haleon (H6D0 TH) +1%
- Rio Tinto (RIO1 TH) +1%
- Iron Ore Rises as China Boosts Property Sector in Some Cities
- Generali (ASG TH) +0.7%
- Novo Nordisk (NOV TH) +0.7%
- Ypsomed Enters Long-Term Supply Agreement With Novo Nordisk
- Norsk Hydro (NOH1 TH) +0.6%
- BAT (BMT TH) +0.6%
- Jamaica Observer: Carreras ventures into vapour cigars
- Sartorius (SRT3 TH) +0.6%
- L’Oreal (LOR TH) -0.6%
- LVMH (MOH TH) -0.6%
- LVMH, Kering, Moncler Cut to Hold at Jefferies on China Weakness
- LEG Immobilien (LEG TH) -0.7%
- Hermes International SCA (HMI TH) -0.7%
- LVMH, Kering, Moncler Cut to Hold at Jefferies on China Weakness
- Leonardo (FMNB TH) -1%
- Leonardo Cut to Hold at SocGen; PT 15.60 euros
- Shell (R6C0 TH) -1%
- Africa’s Newest Oil Jackpot Comes With a Corruption Curse
- Talanx (TLX TH) -5.6%
- Talanx Offering of 4.88m Shares Prices at EU61.50/Share
Saint Laurent Bound for Manhattan’s Meatpacking District
The Kering-owned luxury designer brand will have a formidable presence in a neighborhood marked by cobblestone streets, historic buildings and a vibrant social scene.
Site of the future Saint Laurent flagship store in the Meatpacking District.
Saint Laurent, expanding its New York City presence, has signed a lease to open a 13,000-square-foot flagship store at 70-74 Gansevoort Street in Manhattan’s Meatpacking District, according to real estate sources involved in the deal.
“This will be one of the brand’s creative director Anthony Vaccarello’s first designed stores in the world,” Jared Epstein, principal at Aurora Capital Associates, told WWD via an email exchange. Aurora and William Gottlieb Real Estate own the building Saint Laurent is moving into.
According to Epstein, the Paris-based Saint Laurent will occupy the ground, lower and second floors. He also said the Saint Laurent flagship is expected to open either in the second quarter or the third quarter of 2024.
Saint Laurent did not respond to a WWD request for comment on the store Tuesday.
Saint Laurent will be a major addition to Gansevoort Row, the fashionable, award-winning mixed-use project situated in the heart of the Meatpacking District. Gansevoort Row, which consists of 10 buildings, was redeveloped by the Aurora and William Gottlieb firms, who have been among the most active landlords in the neighborhood.
Gansevoort Row encompasses approximately 110,000 square feet of new and renovated commercial and retail space. According to its website, “The old meatpacking buildings have been beautifully preserved and extended by BKSK Architects, as a fusion of historic prewar structures with new construction and a luxurious modern twist.” The project’s tenants include Hermès and Brunello Cucinelli stores and Keith McNally’s Pastis restaurant.
The Meatpacking District has had its fair share of fashion openings and closings over the years, but more recently has seen an influx of luxury retailers such as Loro Piana, Rolex and Gucci. According to Epstein, brands and retailers are opting for spaces in the Meatpacking District because they are often larger than those offered in SoHo.
Jake Bank and Jared Epstein represented Aurora in the Saint Laurent deal. Mike Oniel of C&W represented YSL.
According to Epstein, asking rents on the block where Saint Laurent will be range from $500 to $700 per square foot. Rents throughout the Meatpacking District range from $150 to $750 a square foot, with Ninth Avenue south of 14th Street and the south side of Gansevoort Street (known as Gansevoort Row) “garnering the most interest and commanding the highest rents,” Epstein observed.
In New York City, Saint Laurent operates stores at 3 East 57th Street and on Greene Street in SoHo. Saint Laurent is part of French luxury conglomerate Kering which also owns Gucci, Balenciaga, Bottega Veneta, Creed, Puma and Alexander McQueen.
DAX:
- Zalando (ZAL TH) +1.1%
- Beiersdorf (BEI TH) +0.5%
- Siemens Energy (ENR TH) +0.5%
- Infineon (IFX TH) +0.5%
MDAX:
- Delivery Hero (DHER TH) +2.6%
- Delivery Hero Rated New Buy at Hauck & Aufhaeuser; PT 65 euros
- Hugo Boss (BOSS TH) +2.4%
- Hugo Boss Raised to Buy at Jefferies; PT 80 euros
- Aurubis (NDA TH) +1.1%
- Nordex (NDX1 TH) +1%
- Thyssenkrupp (TKA TH) +0.5%
- K+S (SDF TH) +0.5%
- LEG Immobilien (LEG TH) -0.7%
SDAX:
- Siltronic (WAF TH) +1.2%
- Heidelberger Druck (HDD TH) +0.8%
- Deutz (DEZ TH) +0.8%
- Schaeffler (SHA TH) +0.7%
- Thyssenkrupp (TKA TH) +0.5%
- Borussia Dortmund (BVB TH) -1.7%
- Aroundtown (AT1 TH) -1.8%
Stocks in Asia were on the backfoot as traders awaited the Federal Reserve’s next policy decision, with interest rates expected to be higher for longer to curb inflation. An Asian equity gauge slipped for a third day, with all sectors trading in negative territory. Contracts for US stocks were flat in Asia Wednesday after the S&P 500 closed down though off session lows. Stocks in Hong Kong and mainland China declined, with finance shares edging lower. Chinese lenders earlier kept the one- and five-year loan prime rates — the latter being a reference for mortgages — unchanged, following the central bank’s move last week to hold policy rates steady as officials assess the economic impact of existing stimulus. Meanwhile, oil fell as wider markets held a cautious tone ahead of the Fed’s meeting. Still, with crude near a 10-month high, global central banks’ fight against inflation becomes more complicated. The yen steadied after rebounding from its near 10-month low after US Treasury Secretary Janet Yellen said any intervention by Japan to support its currency would be understandable if it were aimed to smooth out volatility. The offshore yuan was little changed after the People’s Bank of China reiterated its commitment to crack down on behaviors that disrupt the FX market. Fed Chair Jerome Powell and his colleagues are widely expected to hold rates Wednesday. Still, supply shocks such as climbing oil prices present the central bank with a quandary as they simultaneously boost inflation and curb economic growth. Surging energy costs played a role in tipping the US into recession in the mid-1970s, as well as the early 1980s and 1990s. Aside from expectations of a hawkish hold, investors will focus on the Fed’s updated quarterly rate projections — known as the dot plot — that will be released at the conclusion of the policy meeting. High on the watchlist will be whether these forecasts continue to reveal a median view for one more quarter-point hike this year and whether forecasts for 2024 scale back the 100 basis points of rate reductions that officials foresaw in June. US After Hours CATC +22% to merge with EBC; JPM increases dividend; HAIN +4.8% CEO bought shares.
Nikkei -0.53% Hang Seng -0.43% CSI -0.19% Shanghai -0.31% Shenzen -0.27%
Eur$ 1.0679 CNH 7.3115 CNY 7.2978 JPY 147.83 GBP 1.2387 CHF 0.8981 RUB 96.9694 TRY 27.0271 WTI$ 90.38 -0.90% Gold 1,930 BTC 27,146 ETH 1,638
S&P -0.07% Nasdaq -0.13% EuroStoxx +0.25% FTSE -0.25% Dax +0.21% SMI +0.39%
Macro :
- German Minister Seeks to Ban Chinese Critical 5G Components: DPA
- EU Chief Says Massive China Subsidies for EVs Warrant a Probe
- Europe Car Sales Jump 21% as EVs Help Extend Growth Streak
Keep an eye on :
Keep an eye on :
- ASA NO : Atlantic Sapphire Offering Prices at NOK1.40/Share
- BALN SW : Baloise 1H Profit CHF205.7M
- BMPS IM : Italy May Sell 15% Stake in Monte Paschi: Corriere
- BMW GY : BMW Supervisory Board Plans to Extend CEO Zipse’s Contract: HB
- BNP FP : Citi, BNP Among Banks Exploring $15 Billion Indian Ocean Project
- CTPNV NA : CTP Sees FY 2024 Co. Specific Adj. EPRA EPS €0.80 to €0.82
- DIA IM : DiaSorin Drops to Lowest Since 2019 as Stifel Cuts Price Target
- DUFN SW : Dufry Upgrades Overall Revolving Credit Facility to EU2.75B
- EDF FP : France May Cap Part of Nuclear Power Sales at ~€70/MWh: Echos
- GUMB BB : Gimv Board Agrees to Open Company’s Books to Interested Parties
- GVOLT PL : Greenvolt 1H Net Loss EU3M Vs. Profit EU1.2M Y/y
- IBE SM : *GIP, GIC AMONG BIDDERS FOR IBERDROLA'S US RENEWABLES: EXPANSION
- IBS PL : Ibersol 1H Net Income EU3.1M Vs. EU0.8M Y/y
- MRK GY : Merck KGaA Bolsters AI-Driven Drug Discovery With Two New Pacts
- NDX1 GY : *Nordex Eceives Order From Ibereolica for Around 60 MW in Spain
- NOVOB DC : Ypsomed Enters Long-Term Supply Agreement With Novo Nordisk
- PIRC IM : Camfin Board Renews Approval to Buy Up to 5% of Pirelli Shares
- RECSI NO : REC Silicon Has Made Progress on Yulin JV Stake Sale
- RECSI NO : REC Silicon Has Made Progress on Yulin JV Stake Sale
- SOBI SS : Sobi to Receive About SEK6 Billion From Rights Issue
- STMPA FP : STMicroelectronics to Reappoint CEO Chery to Three-Year Term
- SLPB SS : Swedish Logistic Property Founder Dingizian Sells 7.7% Stake
- TLX GY : Talanx Announces Capital Increase of Up to €300m, Talanx Offering of 4.88m Shares Prices at EU61.50/Share
- TIT IM : Telecom Italia May Extend Deadline for KKR Network Bid: Corriere
- TNET BB : Liberty Global to Squeeze Out Remaining Telenet Holders
- UCB BB : UCB No Longer Expects FDA Action on Bimekizumab in 3Q (Sept. 19)
- VACN SW : VAT Extends Short Time Work for Production Employees in Haag
- VAR NO : Var Refinances $1.5B Senior Unsecured Working Capital Facility
- YPSN SW : Ypsomed Enters Long-Term Supply Agreement With Novo Nordisk
>>> Up
* Amplifon Raised to Buy at HSBC; PT 35 euros
* Clariant Raised to Buy at Jefferies; PT 17 Swiss francs
* Geberit Raised to Neutral at Oddo BHF
* Geberit Raised to Neutral at Oddo BHF
* Hugo Boss Raised to Buy at Jefferies; PT 80 euros
* PGS Raised to Buy at SEB Equities; PT 12.60 kroner
* Telia Raised to Equal-Weight at Morgan Stanley; PT 25 kronor
>>> Down
>>> Down
* BAE Cut to Hold at SocGen; PT 1,121 pence
* Kering Cut to Hold at Jefferies; PT 500 euros
* Leonardo Cut to Hold at SocGen; PT 15.60 euros
* Leonardo Cut to Hold at SocGen; PT 15.60 euros
* LVMH Cut to Hold at Jefferies; PT 780 euros
* Moncler Cut to Hold at Deutsche Bank; PT 64 euros
* Moncler Cut to Hold at Jefferies; PT 60 euros
* Richemont Deutsche Bank cut PT 165 (170) CHF - buy
* Swatch Cut to Hold at Jefferies; PT 260 Swiss francs
* Thales Cut to Hold at SocGen; PT 144 euros
* WPP Cut to Neutral at BNPP Exane; PT 840 pence
>>> Initiation
>>> Initiation
* Bytes Technology Rated New Buy at HSBC; PT 625 pence
* Computacenter Rated New Buy at HSBC; PT 3,015 pence
* IBM Reinstated Outperform at RBC; PT $188
* Iqgeo Group Rated New Buy at Investec; PT 390 pence
* Instacart Rated Hold at Needham on Slowing Growth Potential
* Ithaca Energy Rated New Buy at Peel Hunt; PT 210 pence
* Medcap Rated New Buy at SEB Equities; PT 327 kronor
* Medcap Rated New Buy at SEB Equities; PT 327 kronor
* Softcat Rated New Hold at HSBC; PT 1,580 pence
>>> Call
>>> Call
Sabato De Sarno on Gucci’s New Imagery, Freedom and Show Debut
The designer opened up to WWD in his first interview since being appointed creative director of the brand in January and ahead of unveiling his debut collection on Friday.
ROME — Tradition and modernity fuse under the frescoed vaults of the 17th century Palazzo Mancini in Rome, which is symbolic of Gucci’s current reinvention under creative director Sabato De Sarno.
Contemporary art stands out in his spacious office there, one particular piece by the Chicago-born Eric Stefanski hangs pride of place behind his sleek black desk, fashion books and sheets of paper neatly piled up. Green words dance on the peach orange canvas: “Everything Is Great, Everything Is S–t, Everything Is Exciting, Everything Is Boring…” and so on, with other adjectives that range from all right to dull.
“I like words a lot, they have weight and a precise meaning, they convey emotions, so I like artists who use words, Robert Barry or [Alighiero] Boetti,” De Sarno said.
It’s not surprising then that he would select one specific word for his first womenswear collection for Gucci, to be shown in Milan on Friday: “Ancora,” or again in English.
“Ancora is a word that you use when your desire is not over yet, whether it’s a kiss or an embrace, or making love; it’s as if you own something and you want more of it.” He also said he wanted to “fall in love with fashion all over again — ancora.”
On his mood board, Ancora is spelled out in white on a red sheet of paper, surrounded by other red references — a Lucio Fontana slashed canvas, a red Jackie bag, shining red lips and Gucci’s monogram in red, among others.
To show exactly what kind of red he has in mind, since this is a shade that veers toward a deep rose red, almost burgundy, De Sarno pulled out the new packaging, which is sure to catch any loyal Gucci customer off-guard. Gone is his predecessor Alessandro Michele’s ornate green decorative pattern embossed onto paper bags — the new shopper is a liquid, almost shiny yet deep red with the brand’s name spelled out in white.
To De Sarno, however, this is not surprising. “Red is actually everywhere at Gucci. The very first Jackie bag was black with a red lining. I went to the Savoy Hotel, where Guccio Gucci worked [as a young man before founding his company] and the elevator, inside, is red,” he said.
It is obvious De Sarno has been doing some serious homework, as he recounts his excitement at discovering a treasure trove of unexpected pieces at Gucci’s Archive in Florence.
“Sure, there are the icons — the Jackie, the Bamboo bags — but I never imagined there would be this entire world of Gucci. On the lower floor, there is a lifestyle collection. I thought I would find a few gadgets but actually it’s a full-fledged home collection,” he marveled. “There are so many prints, the first foulards just as beautiful as the Flora and others by [Vittorio] Accornero, there is a world of animal prints that are part of the history, jewels and embroideries, which you would not immediately associate with Gucci.”
Case in point: a silver embroidered clutch in wool led the designer to include several embroideries in his spring collection. “Gucci has a beautiful history, and I feel it’s not been told enough, there are not that many books on Gucci.”
While those who know him swear by his skill at organization and describe him as creative but also concrete, a good planner and tenacious, De Sarno said he is actually very instinctive and that being organized helps him structure his life so that he does not have to miss out on anything. He lives between Rome, Milan and Brussels, where his husband works, and he always makes time for family and friends.
Wearing a practical and casual T-shirt over comfortable pants and Converse sneakers, all in black, De Sarno posed gamely for the WWD shoot, his manner friendly and easy. Hailing from Cicciano, a small town near Naples, the spontaneity and engaging ways Neapolitans are associated with are still there.
He is conscious of the role he plays at Gucci, underscoring that it’s a “great opportunity and a dream,” and is very serious about his job, aware of the task at hand as Kering chairman and chief executive officer François-Henri Pinault aims to refresh the brand and boost its performance. However, “I still want to be Sabato, have some fun, and there needs to be some degree of levity,” he claimed, saying he relished the freedom he has been given so far. “People imagine I have this long list of rules, limits or obligations, but that’s not true at all. I have been given free rein.”
Showing no apprehension ahead of his first show, he admitted, however, that he gets a bit more nervous when people ask him how he feels about his debut at Gucci. Otherwise, he said simply, “I am just doing my job, I like it, it’s what I want to do and every day I am surprised and amazed I am here.”
Named to his current post in January, De Sarno joined Gucci from Valentino, where he spent 14 years and rose through the ranks to become fashion director of men’s and women’s ready-to-wear in 2020.
He debuted in the fashion industry as assistant patternmaker at Prada in 2003 and left in 2006 when he joined knitwear manufacturer Annapurna until, two years later, he was named head designer of the women’s knitwear and jersey collection at Dolce & Gabbana.
“I never thought I would become the creative director of Gucci and I was very happy at Valentino, but I am very proud of this role. Gucci to me equals luxury and the first fashion piece I ever owned was a Gucci jacket by Tom Ford. I still remember I traveled to Rome to buy it with my friend, there was no Gucci store in Naples at the time, and luxury was really not part of our world. Television was the only way to see fashion for me back then,” he recalled.
Fashion allowed him to express himself. “I would dress up for a walk in the town and clothes would help me and with my friends we would check out how people would dress. Choosing what to wear defines yourself.”
Over the years, he has become a collector of fashion archival pieces, in addition to contemporary art works. Asked if he had a mentor, he said he “was crazy” for Gianni Versace when he was young, and that when the designer was killed in 1997, “it was a really very dark day” for him. Of Versace, he admired how he lived freely, he related to his being from the south of Italy, too; his moving to Milan, and his close-knit family links.
His own years living in Milan led him to the choice of location for his first Gucci show. His models will weave out of the Brera Art Academy and into the streets. “I used to have many friends studying in Brera and I liked to join them and look around the Accademia,” he reminisced, citing the Bar Jamaica in the ‘60s and ‘70s as “a place of interesting conversations, where artists and poets would meet. Milan is the city of opportunities, and I have always felt free there. It’s the city of fashion, but also of design, art and culture.”
To wit, he staged an event on Tuesday at Bar Jamaica to present the first volume of his “Gucci Prospettive” series, which will accompany each of his collections for the brand. Stefano Collicelli Cagol, director of the Luigi Pecci Center for Contemporary Art in Prato, interpreted the vision for the first chapter, named “Milano Ancora.”
“I like to give the same amount of space to Lucio Fontana as to an emerging artist, I like that balance,” said De Sarno, who aims to pay tribute to Milan with its art works, literature excerpts, music, cinema and fashion, narrating fragments of the city’s cultural and artistic history from the post-war period to the present day.
He revealed he is not much into set designs and the streets in Brera will “allow people to have the opportunity to see the clothes.” Inclusivity is a given in his opinion, while he prefers to focus on diversity — but especially through concrete facts and actions rather than just talking about it.
About the spring collection, he said he had a ‘60s and ‘90s silhouette in mind, “very short” looks, all daywear. “I didn’t want to show eveningwear. Gucci to me is more daywear, and outerwear is my passion — coats, peacoats….My ambition is to build an aesthetic message with an edited collection that is mindful of Gucci’s heritage and close to my own aesthetics.”
Again, he cited Fontana, who did not date his paintings but would write a phrase behind the canvas that would remind him of the period. “No date makes something immortal,” he opined. The process behind Fontana’s artworks was very complex, he explained, and people don’t really realize this. “I like things that appear simple but where the process is actually hyper-creative.”
De Sarno knows accessories are also key to Gucci’s business and hinted at revisiting the Jackie bag, referencing the icon’s forerunner from the late ’50s with the red lining and the original snap hook closure, not the piston.
While the week before the show Gucci’s Instagram was wiped clean, signaling a new chapter for the brand, De Sarno has enjoyed teasing a few images on his own handle, such as a post in mid-August reproducing a map of Milan, zooming in on Brera and, earlier that month, of Daria Werbowy posing for a Gucci jewelry campaign, photographed by David Sims at Chateau Marmont wearing only a bikini bottom on the side of the pool.
It gave a clue to his vision for Gucci but asked about the choice, De Sarno sounded more sentimental than strategic. “Daria was the first model I saw up close when I was working at Prada, it was a very nice moment, early on in our careers, with David, who photographed her at her debut and now again in this new phase for me.”