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The market will be looking for signs of improvement at YSL when Gucci Group reports its full-year sales earnings on April 1. Heavy investments to create a retail network for YSL, and marketing and other expenses have meant heavy losses for the French brand.
During the third quarter ended Oct. 31, sales at YSL advanced 13.6 percent to $53.4 million, or 43.1 million euros, but operating losses widened to $25.6 million, or 20.7 million euros, compared with operating losses of $22.4 million, or 18.1 million euros, in the same period last year, as reported.
— Miles Socha
Gucci’s new head of women’s wear, Alessandra Facchinetti, is no stranger to the limelight.
The daughter of Roby Facchinetti, the keyboard player for I Pooh, Italy’s famous rock band formed in 1966, she has lived and breathed music her entire life. In 1972, the year Facchinetti was born, her father named an album after her. The family’s artistic vein continues with Facchinetti’s 24-year-old brother, a hip-hop singer called DJ Francesco, whose song, “Capitan Uncino,” became last summer’s top-of-the-pops success.
In her case, Facchinetti is already well known among fashion insiders after stints at Prada, then Miu Miu and, since the year 2001, at Gucci. Facchinetti, 32, is a graduate of Milan’s Istituto Marangoni fashion school and joined Prada as an assistant in 1995.
She quickly caught Miuccia Prada’s eye and climbed the design ladder, eventually being named fashion coordinator for women’s and men’s at Miu Miu. She took over there when Stefano Pilati, who will replace Tom Ford at Yves Saint Laurent, left to become women’s design director at the French house.