Gucci, Alessandro, Tyler Brule discussed on Monocle 24: The Globalist
8 31 in Milan 7 31 here in London, with a globalist with me, Emma Nelson. Let's turn now to the chiefs. This week, Monaco's editorial director Tyler brule is joined by Marco petare, the CEO of the Italian luxury brand Gucci. On the brand centenary, they talk about everything from the enduring importance of brand Italy and we're embracing change is crucial to any brand strategy. Bizarrely started by talking about the brand's evolution and what kind of moments they're in right now. You know, I always start from the fact that nobody has a crystal ball. The thing that I had in my mind together was Alessandro and I joined Gucci back in 2015 is like I was seeing a little bit faster like kind of an old lady that is getting a little bit bought. And that was a kind of a detachment, especially from the young generation to this industry. Because if you go back 7 years ago, we were talking about millennia materiality, this business was not certainly fueled by them. There was certainly a big opportunity for a brain like ours, which has been up and down in the last 30 years. There were moments extremely booming and solid in the first year and then there was a moment where you almost went bankrupt where investors came in and then domenico and Tom and they were able to do the renaissance or Gucci at the end of the 90s beginning with the 2000. And then there was a kind of stabilization of the business and then we start again. I think this brand has this kind of characteristic of our inventing itself, very, very often. It's very different. If you want from other players in the industry, that will be more consistent throughout the years. But I think this could be either a weakness or as well as great opportunity because this kind of flexibility that Gucci has allows you to really think in a different way or invent yourself whenever you want. It doesn't mean necessarily going to be successful but certainly there's a possibility. And this is very much in the mind of the people working in Gucci. So back in 2015, with Alessandro we really wanted to make a kind of a big change a bit back on the static and on the business model, and we were successful. And we continue to avoid that. The evolution of the brand made Alessandro statically has been quite dramatic, always with references to the past, but always thinking about the presence. So the kind of contamination that you had the chance to have from the previous year from Tom from damn now from everything that has been done previously Gucci, we saw the reference to the iconic signs of et cetera revisited by lesandro usually in a very contemporary way to make sure that the present matters gave a new for me a new impulse to the story Gucci to the life of Gucci that will shape the next the next year for sure. We are always on our doors in this brand that we can not certainly be complacent. And I think the results are giving us a good support to continue to do in this way for the future. Marco can you just maybe take us back to this moment that you did identify and you talked about maybe the slightly older lady who was a little bit bored was looking for new areas of distraction and of course this was also maybe at the old lady finding her youth identifying youth as a market. And this is something which you've done incredibly well. Do you think of a core core consumer and in that youth space? So when you're sitting down with your CEO hat, which you're wearing every day and when you are looking at communication plans when you're of course looking at obviously where collections are going, et cetera, that there is this one core customer who might be 27 31, 19 in your mind. How do you look at it? Because the stewardship that you've had as a CEO is really remarkable within this space. It goes back to the moment in which we start with Alessandro, this journey. I think, our core customer is laugh about that. It's the human being. It's not a matter of age, it's not a matter of mindset. It's not a matter of gender circular preferences, geographical prominence. It's very much someone that is want to be himself or herself. I mean, in his own way, being enhancing the surface that is in everybody else. So that there is a why we were able to resonate to a different segment at the beginning, the ship was quite dramatic because we were able to intercept this trend of the young generation that was able to see in what Alessandro was doing going to authenticity and the passion that was behind that. But frankly, I need to be extremely genuine. We didn't really plan to address Gen Z or millennia when we started. We didn't want to do something that was not present in being extremely consistent with the value of seeing through the eyes of Alessandro and putting together what was happening outside in the streets. I decided to the other day was saying something that was for me extremely interesting to listen for me is that Alessandro starting point reintroduced the message of gently fluidity, especially in the first show in general in 15. And what he said, I didn't invent anything. I was just walking the streets and I was watching what was happening with people that I mean they don't want to be framed in any kind of rule or whatever they can buy men right to what is the main women who are independent from the gender they come from. It wasn't as satisfying was happening. It was not inventing anything. And the fact that he's able to match the values of the company together with what's happening outside is what in the past, all the marketing guru writes in books that were called positioning. This is coming in a more and more natural way. But it's exactly what happened in the mind of Alessandro and they decided to go in that direction aesthetically back in 2015. And it's continued to do so in the chain that is doing now with aria with the static of aria. It is reflecting exactly the same kind of thought. Not too much. Focus group, not too much asking consumer what they want. For the most part, consumer, they don't know exactly what is going to happen, what they want in the future. Something that you need to in a way propel yourself and try to intercept in advance to get this competitive advantage that of course encompass a little bit of risk for sure because I mean, you'll do something that maybe nobody has done in the past. But if the bat is good, the reward is very, very high. That was Monaco's editorial director Tyler brule in conversation with the CEO of Gucci Marco pizza. To hear the full interview head to Monaco dot com slash radio. Or if you'd like to read it in print, pick up a copy of the latest edition of Monaco magazine, which is on new stands.