Prior to the pandemic I had this impression that Kering was the more design-led group. You had AM, Demna and Daniel Lee. All those appointments, starting with Slimane at YSL shot Kering up. I guess it was too pop. It’s not as if the runway spectacles are what sells most. Not to mention on a product level their bags were subpar sans Bottega, and that was riding on Daniel Lee. It’s only in the last few years of Demna (although too late) that there’s something interesting in their bag department.
LVMH meanwhile took the time to institutionalize their brands, like Dior and Celine while still maintaining cultural relevancy with Loewe. These 3 brands along with Vuitton and later Loro Piana appeared better values than their disposable Kering counterparts. For all the buzzy moments for Kering brands, their brand equities never really took off sans Bottega. Gucci is overexposed, Balenciaga is tired, Saint Laurent outside the shows doesn’t make sense and still not at the place it should be.
LVMH meanwhile took the time to institutionalize their brands, like Dior and Celine while still maintaining cultural relevancy with Loewe. These 3 brands along with Vuitton and later Loro Piana appeared better values than their disposable Kering counterparts. For all the buzzy moments for Kering brands, their brand equities never really took off sans Bottega. Gucci is overexposed, Balenciaga is tired, Saint Laurent outside the shows doesn’t make sense and still not at the place it should be.
