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At Luxury Brands, Heritage Matters

In the long run, luxury brands that lean into timeless products consistently outperform their more fashion-driven peers, writes Pierre Mallevays.
Gucci is putting greater emphasis on more timeless products.
Gucci is putting greater emphasis on more timeless products. (Glen Luchford)

Designer Alessandro Michele’s abrupt departure from Gucci last November was welcomed by investors. His radical reinvention of the Kering flagship tripled annual sales to almost €10 billion. But after several quarters of underperformance, the consensus was that Gucci needed a creative change to keep growing. Now, after two months of uncertainty, Kering has named Valentino fashion director

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