Miu Miu, the rising star as Gucci reinvents itself
By Eva Morletto25 septembre 2023
The "Brand Magic" index by the Business of Fashion platform positions the Miu Miu brand as the one most aligned with the perceptions of its consumers, while Gucci faces a period of fluctuating identity and creative repositioning.
The British fashion media outlet Business of Fashion (BoF) has delved into the perception of core values held by major brands among their consumers. To achieve this, they introduced the Brand Magic Index. This year, the Italian brand Miu Miu tops the list, aligning its values with customer sentiments at 95/100. Known for its innovation, Miu Miu represents independence, a quality cherished by its loyal customer base.
BoF relied on Quilt.AI, an artificial intelligence platform, to create this index. They analyzed a large dataset of social media posts between May and July using specific algorithms. The brands' values were categorized into four areas related to consumer demands and aspirations, inspired by the archetypes of the renowned psychoanalyst Carl Gustav Jung: Independence, Belonging, Mastery, and Stability. In total, about fifty luxury brands were scrutinized.
Among the Italian brands, Armani stands out with an impressive score of 92/100, achieved through the consistency of its collections, a result of the ever-watchful eye of founder Giorgio Armani. In contrast, Gucci scores a modest 58/100, possibly due to its fluctuating identity in recent years. Indeed, a few days ago, the stylistic choices at the last Milan Fashion Week didn't receive unanimous praise, and the anticipation for the first show by Sabato de Sarno failed to convince the entire fashion world.
Gucci seems to be heading towards a minimalist fashion approach, as the new creative director aims to reposition the brand towards "quiet luxury," a contrast to the dazzling collections of Alessandro Michele and, before him, the "porno-chic" advocated by Tom Ford in the 2000s. Last Friday, the collection presented at the brand's offices featured pieces of essential elegance, easy to wear but far from the creativity expressed by its predecessors.
In 2022, Gucci reported revenues of €10.5 billion with a modest growth of +1%. This slowdown can be attributed to global geopolitical uncertainties, Michele's unexpected departure, and moderate performance in the Chinese market due to pandemic repercussions. François-Henri Pinault, CEO of Kering, described Gucci's results as "not necessarily up to our ambitions and potential." Will Sabato de Sarno's transition towards minimalism succeed in pulling Gucci out of its current situation?
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