In a matter of months, the world’s three largest fashion houses have either undergone or are preparing for major creative leadership changes.

With Matthieu Blazy expected to take over at Chanel, Demna stepping in at Gucci, and Jonathan Anderson reportedly heading to Christian Dior, luxury’s executive suites are being reshuffled in an industry facing mounting uncertainty and a growing call for reinvention.

These are not isolated moves—recent weeks have seen a steady stream of creative director departures and appointments. What does this power shift mean for the industry? Are we entering a bold new creative era, a strategic repositioning of luxury, or merely a surface-level adjustment aimed at reigniting growth? Fashion Network takes a closer look.
 

“This is a clear sign of a transitional period shaped by shifting consumer behavior in the luxury space. The clustering of these changes marks the beginning of a new phase in an industry deeply influenced by fashion’s breakneck pace,” said Serge Carreira, head of Emerging Brands at the Fédération de la Haute Couture et de la Mode.

After a record 22% surge in 2022, the global personal luxury goods market—currently valued at $393 billion—contracted by 1.6% in 2024, returning to 2023 levels. China’s economic slowdown initially triggered the downturn, and further pressure came from an industry-wide slump exacerbated by rising U.S. tariffs. At the same time, luxury brands are contending with deep, gradual changes in consumer expectations. Buyers lean toward experiential luxury over status purchases in an uncertain economic climate. Bain & Company says surging prices have driven 50 million high-end consumers away in just two years.

In search of turnaround strategies, most luxury houses—many reported revenue declines in 2024—have been forced to rethink their creative direction. The resulting wave of leadership changes, described by many observers as unprecedented, reflects a broader industry reckoning.

Beyond Matthieu Blazy, Demna, and Jonathan Anderson—whose rumored move to Dior has yet to be confirmed—a new generation of designers is stepping into significant roles: Dario Vitale at Versace, Miguel Castro Freitas at Mugler, Jack McCollough and Lazaro Hernandez at Loewe, and Simone Bellotti at Jil Sander are among the latest names leading the charge.

“We’re witnessing a major shift. Brands are in the midst of an identity crisis. They’ve lost sight of who their customers are, and the system is splintering. Only houses with strong DNA hold steady. The real issue, in my view, lies in the overwhelming power handed to financial and executive leadership,” said Barbara Franchin, founder and director of ITS (International Talent Support), a competition for emerging designers that featured Blazy as a finalist in 2006 and awarded Demna (born Demna Gvasalia) the top prize in 2004.

“We met them when they were just getting started. I remember Demna especially. He hasn’t changed one bit. Even then, he had a distinct vision. His strengths and struggles are still the same today,” she recalled.
 

At first glance, the incoming creative directors at Chanel, Dior, and Gucci appear bold, disruptive, and full of fresh energy. But make no mistake—these are not newcomers. Aged between 40 and 44, including Glenn Martens, now at the helm of Maison Margiela, they bring seasoned experience from major luxury houses. Most are internal promotions: Demna at Kering, Martens steering Diesel under OTB, and Jonathan Anderson, who recently exited Loewe—another LVMH brand like Dior.

“We were lacking creative excitement. These houses needed to move forward creatively because the spark had clearly dimmed,” said Isabelle Fine, head of womenswear at Le Bon Marché. “These are bold choices, each unique to the house. It’s creatively exciting and also makes business sense. Some of these appointments are more reassuring than others, but all are intriguing.”

Demna’s move to Gucci stirred the most controversy of the three major appointments, triggering a sharp drop in Kering’s stock the day after the announcement. Gucci, which accounts for nearly half of Kering’s revenue and two-thirds of its operating profit, has been losing steam for over two years. Critics worry that Demna—who will remain at Balenciaga until July—will continue leaning into the edgy, streetwear-driven aesthetic that made him a star, even as demand for that style softens.

As Jacques Roizen of DLG consultancy told Reuters, “In the era of superstar creative directors, designers often overshadow the brand’s legacy. They now define the aesthetic direction, positioning, and customer base.”

After two years of lackluster performance under the previous designer, Sabato De Sarno, Gucci is clearly betting big with Demna. A Bernstein note described him as having “a strong point of view—he was fashion’s golden boy from 2014 to 2020—a bold vision that works well for Gucci. The brand historically thrives when it pushes boundaries, as seen during the eras of Tom Ford and Alessandro Michele.”

“He’s iconoclastic and ironic, a great fit for a niche brand like Balenciaga, which we estimate generates less than $2.2 billion in revenue. But we’re not convinced this strategy works for a larger house. Selling exclusivity at scale is a difficult balance,” the analysts added, questioning whether Demna is the right fit for Gucci at this moment.

 
Chanel’s appointment of Blazy has been met with greater enthusiasm. After 35 years under Karl Lagerfeld and six more with his longtime deputy Virginie Viard at the helm, the Parisian house was due for a shift. “Chanel needed a break from the past—it hadn’t updated its creative direction in a long time. I think Matthieu will breathe new energy into the house,” said fashion stylist Tom Eerebout.

Blazy, who led Bottega Veneta for Kering, is known for his vibrant creativity and product acumen. Passionate about craftsmanship, he often collaborates closely with artisans—a trait he shares with Jonathan Anderson, whose time at Loewe emphasized a similar respect for traditional techniques. As luxury houses increasingly emphasize heritage and craftsmanship as core brand values, this blend of artistry and product innovation is a major asset.

While Blazy, Demna, and Anderson are considered some of the most inventive minds in fashion today, they also understand how to navigate the inner workings of global brands. This makes them attractive to the industry at large. “Brands are under pressure to balance creativity with commercial performance, all while staying relevant in a fast-changing market,” said Lydia King, buying and merchandising director at UK-based Liberty, in an interview with Reuters.

Still, some critics argue that these appointments reflect the luxury industry’s tendency to recycle familiar names. “It’s the same circle trading the same jobs. We keep seeing the same profiles filling the same roles, while the supply chain—on which the industry depends—is collapsing from lack of support,” said Orsola de Castro, co-founder of the Fashion Revolution movement.

“These hires expose a closed-off world obsessed with status, ignoring that fashion includes a vast range of expertise. The entire system puts all the pressure on ‘super designers’ while deeper structural issues remain unaddressed,” she warned.

  
“This game of musical chairs is a kind of sacrificial ritual by people unwilling to rethink failing models. We’re in a real systemic crisis. Major fashion groups are acting irresponsibly, using creative directors as scapegoats,” added philosopher Emanuele Coccia.

The recent firing of Sabato De Sarno still lingers, especially given how abruptly Gucci parted ways with him just before Milan Fashion Week in February—after only three seasons and months of praise from Kering’s leadership.

“Creative directors are being set up to fail. They’re burdened with too much responsibility, while business leaders aren’t held accountable. In any other sector, companies would replace underperforming managers,” said Coccia, a lecturer at the School for Advanced Studies in the Social Sciences in Paris.

“Why aren’t these powerful companies investing in young brands instead of keeping legacy houses on life support? Rei Kawakubo, for example, brings in new designers without forcing them to dream someone else’s dream. Nobody ever asked Picasso to paint like Fernand Léger,” he noted.

He offered a final thought: “Luxury groups should think more like art institutions—or at least invent new models. Maybe build cultural governance teams and stop using culture as a marketing tool.” The debate is far from over.