Gucci’s New Creative Lead, Boucheron’s New Ambassador and the Reconstruction of Sephora in China
Demna Gvasalia Appointed as Gucci’s New Creative Director
Kering has named Demna Gvasalia, currently Balenciaga’s artistic director, as Gucci’s new creative lead, effective July 2025. He will replace Sabato De Sarno, who left his post amid Gucci’s restructuring efforts. Gvasalia will conclude his tenure at Balenciaga with a haute couture show on July 6 before transitioning to his new role. Kering leadership highlighted his cultural insight and creative influence as key factors in the decision.
Donatella Versace Steps Down, Dario Vitale Named New CCO
Donatella Versace will step down as Chief Creative Officer of Versace on April 1, 2025, transitioning to the role of Chief Brand Ambassador. She has led the brand since 1997 after the passing of her brother, Gianni Versace. Dario Vitale, formerly Miu Miu’s design and image director, will take over as CCO. His appointment has sparked speculation about a potential Versace acquisition by Prada Group. Capri Holdings and Versace leadership have expressed confidence in Vitale’s vision for the brand’s future.
Boucheron Names NCT’s Mark as New Brand Ambassador
French high jewelry house Boucheron has appointed Mark, a Korean-Canadian artist from NCT, as its latest brand ambassador. Known for his rap, vocal, and production skills, Mark has gained global recognition with solo releases in 2024. Boucheron stated that his creative expression aligns with the brand’s values. As part of the partnership, he will showcase the Quatre collection while promoting his first solo album, set for release in April 2025.
Sephora Restructures Asia Leadership Amid China Challenges
Sephora CEO Guillaume Motte has taken direct oversight of the brand’s Greater China operations following the departure of Asia President Alia Gogi. The leadership shift comes as Sephora seeks to expand in China, where it faces competition from local beauty brands and shifting consumer preferences. According to Bloomberg, former Nike Asia executive Ding Xia now reports to Motte and is leading efforts to diversify Sephora’s product range. LVMH considers Sephora a key growth driver, aiming to boost its market presence in Asia.
Hugo Boss Reports Q4 Recovery but Cautious Outlook for 2025
German luxury brand Hugo Boss reported record sales of €4.3 billion in 2024, with a 6 percent rise in Q4 driven by growth in the Americas and EMEA. However, sales in the Asia-Pacific region declined by 2 percent, impacted by weaker demand in China. The company saw improvements in wholesale and physical retail, along with enhanced cost efficiency. For 2025, Hugo Boss expects sales to fluctuate between -2 percent and +2 percent, while EBIT is projected to increase by up to 22 percent.
Weibo Reports $1.75 Billion Revenue in 2024, Plans Increased AI Investment
Weibo reported total revenue of $1.75 billion in 2024, with adjusted operating profit reaching $584.1 million. Advertising and marketing revenue declined by 2 percent to $1.5 billion, while value-added services grew 13 percent to $256 million. Monthly active users reached 590 million, with daily active users at 260 million. In 2025, Weibo plans to enhance social product integration and recommendation systems, with a strong focus on AI applications in search, content recommendations, and advertising.
John Lewis Partnership Reports Tripled Profits Amid Business Transformation
John Lewis Partnership reported a 73 percent rise in pre-tax profit to £97 million for the year ending January, with profit before exceptional items to £126 million. Total sales grew 3 percent to £12.8 billion, driven by a 4.4 percent increase at Waitrose, while John Lewis department store sales remained flat at £4.8 billion. The company prioritized business transformation, investing up to £600 million and increasing staff pay, but did not reinstate bonuses.
Seres and Huawei’s New Car Models See Strong Demand
Seres and Huawei’s new car models, the 2025 AITO M9 and M8, have received significant early interest, with over 23,000 and 47,000 pre-orders within 84 hours of opening reservations. To promote smart driving technology, Seres launched the “AITO Smart Driving Experience,” inviting new users to test the technology in real-world scenarios. The program has hosted 51 sessions, covering over 1.27 million kilometers, with 76.3 percent of the distance driven using smart driving functions.
