MILAN — Pinault-Printemps-Redoute and its parent, Artemis, denied a weekend press report that it is mulling leadership changes at Gucci and said talks are ongoing to renew the contracts of Gucci chief executive Domenico De Sole and creative director Tom Ford.
“There is no search for alternative solutions going on right now,” said a spokesman for PPR, thus denying a report in The Financial Times on Saturday that quoted an unnamed source as saying that Artemis and PPR were considering “alternative solutions” going forward and that the talks with De Sole and Ford regarding renewing their contracts were making slow progress.
The PPR spokesman said Monday that the French retailer, which owns a majority stake in Gucci, is not contacting candidates to fill the ceo and creative director slots at the Italian fashion group.
A spokeswoman for Artemis, the private holding firm that controls PPR, reiterated the denial.
The employment contracts of both De Sole and Ford expire next year. As reported, there’s been plenty of speculation in the industry that one or both men could choose to leave the company amid buzz that PPR could encroach on Gucci’s managerial independence.
PPR must buy all outstanding shares in the company next year — a move that will likely delist Gucci from the stock market and give PPR 100 percent control of the company.
Ford and De Sole told WWD in March that the two will stay on board if PPR preserves Gucci’s current autonomy.
“We both have an incredible love and loyalty to the company and a desire to continue what we’ve been doing indefinitely, but only if we are allowed to operate in the way that we have in the past,” Ford said in an interview during Milan Fashion Week.
A PPR spokesman said Monday that contract discussions are continuing, but he couldn’t quantify how much more negotiating time is needed. He added that PPR doesn’t feel rushed as De Sole’s contract doesn’t expire until March 2004and Ford’s in June 2004.
“One expires in nine months and one in a year,” he said.
Gucci was also mum on the state of play. “There is nothing new to report on the contract negotiations,” a spokesman said.
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)
@heriethpaul and @gracebol have a moment on the @victoriassecret fashion show 2017. See every look from the runway on WWD.com. Link in bio. (📷: @giovanni_giannoni_photo) #wwdfashion #victoriassecret #VSFashionShow
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia