Today’s spotlight is on Gucci, one of the oldest and most famous Italian fashion houses, which is launching a new ambitious plan to reinvent the brand and regain a dominant position in the market. The luxury label owned by Kering group has had its fair share of issues in the past few months, with slowing sales growth and stiff completion from other luxury brands. In response, Gucci’s management team has unveiled a strategic plan to revive the brand and win over the youth market of luxury busines.

Reviving luxury is the primary objective of Gucci and they seek to revive this aspect through craftsmanship and traditional designs. The brand is overdoing it with the flashy and outrageous styles that characterized recent collections by the former creative director, Alessandro Michele, now opting for sleek looks. This transition is illustrated in Gucci’s recent fashion show where the brand moved away from flamboyant aesthetics and embraced clean lines and restrained colours.

However, Gucci is not only focusing on the aesthetic changes in its products: the firm is also expanding its digital expertise and internet sales. The brand understands the increasing dominance of the internet for luxury sales in the current world where the youths are the largest customers. For this reason, Gucci is set to release a new mobile application to help customers shop virtually, try on the clothes virtually, and get more content for their loyalty. The brand is also growing its content on social media, collaborating with influencers and using applications like TikTok and Instagram.

Sustainability also forms another cornerstone in the brand’s revitalization plan. The brand has promised to increase material sustainability in its products and lower environmental impact within its network. There is also news that Gucci will introduce an upcycling and recycling product line, to meet the needs of environmentally sensitive consumers of luxury goods.

To back up those plans, Gucci is planning for a major revamp of its store locations and outlets. It also plans to shut unprofitable stores and expand in iconic stores in major luxury markets. These new stores will incorporate high impact and innovative selling tools to make it more fun and interesting for the customers to shop.

Other strategies that are part of the brand’s rejuvenation plan for Gucci are the brand recalling its roots and its origins from Italy. Now, the brand is focusing on the fact that the company is engaged in the production of shoes that are handmade in Italy and cooperating directly with Italian sellers and manufacturers. Such an appeal to provenance and authenticity is intended to speak directly to the luxury consumer who seeks timelessness and substance over the ephemeral.

With regard to product portfolio, Gucci is evolving in accessories and leather products, which have always been major segments for Gucci. It is also focusing on the beauty and fragrance division since the firm understood that there is growth potential in those divisions.

In order to back up its new strategy Gucci has also appointed a number of new executive positions within the company. Recently, the brand has appointed a new CMO with the background in digital marketing and eCommerce, as well as the head of sustainability.

There is much speculation regarding Gucci’s ongoing rejuvenation, and while opinions are generally positive, many people are still skeptical about the company’s future. Although the luxury market has been cooling off in the past several months, Gucci has all the resources to build up on its presence and reputation.

However, the effectiveness of the current strategy of Gucci will largely depend on the extent to which consumers will find it appealing, given the prevailing dynamic and competitive fashion environment in the global market. There is competition from long established competitors along with newer up and coming labels that are appealing to the new generation of luxury consumers.

Since the beginning of this new era of Gucci, the world of fashion will be waiting to see whether the luxury label can regain the position it once had and begin to dictate trends within the luxury sector. In its daring strategy and systematic styling, Gucci is preparing for a comeback that could literally reshape the future of luxury fashion.