New Creative Director Sabato De Sarno and Gucci's new identity are being watched cautiously by markets. The spring-summer 2024 show staged at Milan Fashion Week was well received, but market experts are cautious in making judgments. The highly anticipated collection, Barclays analysts explain, seems to have received mixed reviews from the Western and Chinese press and social media. Reviews have praised the wearability of the garments, in stark contrast to Alessandro Michele's previous "more extravagant" designs. However, experts continue, some social media users seem to be slightly disappointed that the collection was "not bold enough", as De Sarno appears to have played it relatively "safe". "For the time being, we remain cautious about the performance, although the first test was largely positive. The collection presented by De Sarno will start being sold in stores in early 2024 and this will be the next key test for the brand," Barclays analysts wrote. According to them, however, Gucci is already doing most of what is needed to improve the business, such as brand elevation, wholesale cuts, and management change.
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