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Two mega-brands. Two surprise appointments to top design roles.
Yet the approaches taken by Louis Vuitton and Gucci could not be more different. Both could usher in fresh growth at the fashion houses. But each new hire has huge designer sneakers to fill.
On Tuesday, LVMH Moet Hennessy Louis Vuitton SE named musician Pharrell Williams as its new creative director of menswear at its namesake brand, succeeding the late Virgil Abloh.
Williams’ appointment shows that LVMH Chief Executive Officer Bernard Arnault and new Louis Vuitton CEO Pietro Beccari have sought to replace Abloh with a similar tastemaker.
Abloh brought Louis Vuitton to a younger and more diverse audience, particularly in the US. Appointing a Black designer to succeed him at a fashion label with annual sales of €20 billion ($21.5 billion) demonstrates the brand wants to build on that inclusivity. Williams also leads a nonprofit initiative Black Ambition, which invests in and supports startups founded by Black and Hispanic entrepreneurs.
Like Abloh, Williams has a streetwear background. He created Billionaire Boys Club with Japanese designer Nigo in 2003. Nigo is now artistic director of LVMH’s Kenzo.
Yet Williams is no stranger to luxury. He has collaborated with Louis Vuitton and also worked with Moncler and Chanel. His enviable rolodex should open the way to more tie-ups across the conglomerate, which are becoming increasingly important to generate brand buzz. He also founded skincare brand Humanrace, and skincare is one area where LVMH lacks scale.
That Williams is a household name thanks to his 2013 hit song “Happy” underlines the power that LVMH wields.
One risk, however, is that Williams may be too similar to Abloh. Although luxury brands are steeped in heritage, they need constant rejuvenation to give consumers a reason to splash out on another bag or pair of shoes. Abloh was a truly surprising and inspiring choice when he was appointed to Louis Vuitton in 2018. His Off-White label, which mixed haute and street fashion, was one of the most in-demand names at the time. Williams looks like a safe pair of hands rather than a step in a bold new direction.
And celebrity has not always worked for LVMH. It put its Fenty fashion venture with Rihanna on hold two years ago after it failed to take off.
As for Gucci, Kering could not have taken a more different path to Louis Vuitton with its appointment of Sabato De Sarno as the brand’s creative director, succeeding Alessandro Michele. While Williams is familiar to a broad audience, De Sarno, who joins from Valentino, is little known.
The need to reinvigorate the brand, which accounted for more than 50% of Kering’s profit and 67% of operating profit last year, was underlined on Wednesday when Gucci’s fourth-quarter sales fell more than expected.
Kering has successfully plucked top designers, such as Michele, who was an unknown Gucci insider, from obscurity before. But the challenge for De Sarno is that while he has held senior roles at fashion houses, he has never led one — let alone a brand turning over €10 billion a year.
While Valentino’s aesthetic — vertiginous platforms and bold colors — blends well with Gucci’s current look, De Sarno must make its styles different enough to win over shoppers who have grown tired of Michele’s maximalism. The new designer’s strength is also in clothing rather than leather goods, which Gucci needs to elevate.
Still, both brands have a good chance of making the unexpected appointments work. As the world’s biggest luxury group, with a market capitalization of over €400 billion, LVMH has the clout to get behind Williams’ vision. Arnault has described Louis Vuitton as more than a fashion house, as the worlds of music, art and luxury collide. Williams cements that status as a cultural force.
As for Kering, it has a strong track record in finding and nurturing the right creative talent. Once the designer has come up with winning styles, it backs them with muscular marketing and product management — ensuring there are enough G-logo belts or bags on shelves.
Yet what Michele achieved at Gucci and Abloh at Louis Vuitton was truly exceptional. The new eras will need to come close to make the brands’ billionaire shareholders and external investors Happy.
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This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.
Andrea Felsted is a Bloomberg Opinion columnist covering consumer goods and the retail industry. Previously, she was a reporter for the Financial Times.
More stories like this are available on bloomberg.com/opinion
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