Fashion's creative director shuffle: LVMH and Kering's chess game

The rapid turnover of creative directors at major fashion houses is driven by financial uncertainty in global markets, despite strong sales. In 2022, stock markets in Milan, Paris, Frankfurt, New York, and Hong Kong have faced volatility due to the Ukraine war, lockdowns in Beijing and Shanghai, and anti-inflation measures by central banks. This has led to unexpected moves by luxury conglomerates LVMH (€64.2 billion revenue in 2021) and Kering (€17.6 billion). At Kering, Matthieu Blazy replaced Daniel Lee as creative director of Bottega Veneta in November 2021, who had only succeeded Tomas Maier four years earlier. At LVMH, Marco de Vincenzo became artistic director of Etro in May 2022, ousting the founding family. Rumors suggest Marc Jacobs may join Fendi alongside Kim Jones, reuniting the duo who worked together at Louis Vuitton from 2011 to 2013. Jacobs was at Louis Vuitton from 1997 to 2014, succeeded by Nicolas Ghesquière, while Kim Jones moved to Dior Men and Fendi. The announcement could come in September 2022 during women's collections for autumn/winter 2023.