Kering shares plunge 11% after Demna Gvasalia named as Gucci's artistic director

Shares of Kering dropped significantly after the announcement that Demna Gvasalia, previously of Balenciaga, will become the new artistic director of Gucci. Known for his streetwear influence, Gvasalia’s controversial past includes an ad campaign featuring children and bondage-style products. Kering hopes this appointment will revitalize Gucci’s declining sales, with Gvasalia set to start in July 2025.

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