Gucci creative director demoted?

Italian luxury brand Gucci has become a fast-expanding behemoth that is a little confused about what to do next.
Kering Group released Gucci’s latest development plan on yesterday’s capital market day. The medium-term goal is to increase Gucci’s annual sales to 15 billion euros, but it did not specify the time frame for achieving this milestone. In 2021, Gucci’s revenue will rise by 30.8% to 9.73 billion euros, basically achieving its goal of 10 billion euros in 2021.
Under the leadership of CEO Marco Bizzarri and creative director Alessandro Michele after 2015, Gucci has grown exponentially, from 3.9 billion euros to today’s 10 billion euros, almost tripling, and profits have increased by nearly four times. Today, the Americas market alone can contribute 4.685 billion euros in annual revenue to the brand, exceeding the total revenue in 2015.
Analysts at HSBC previously estimated 2021 revenue of 16.7 billion euros for Louis Vuitton, a core brand owned by rival LVMH. Chanel’s revenue rose 49.6% to $15.6 billion last year. Gucci’s entry into the 15 billion euro club means that Gucci is firmly at the head of the global luxury brand pyramid.

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