Gucci's Identity Crisis When Maximalism Fizzles and No One’s Buying

Once the reigning monarch of maximalist cool, Gucci has recently fallen from the high-gloss pedestal it built in sequins, snakes, and oversized logos. In a plot twist more dramatic than a

A Gucci Markdown

Milan runway show, the brand is now grappling with plummeting sales, creative upheaval, and an identity crisis that no amount of monogramming can fix.

Let’s start with the carnage: sales are down—way down. In Q2 of 2025, Gucci’s revenue dropped a staggering 25% year-over-year, mirroring the freefall from Q1. For context, that’s roughly €1.46 billion in Q2, which sounds like a lot until you realize Gucci used to cough that up selling bejeweled loafers to the Shanghai elite and hypebeasts in SoHo. The brand’s parent company, Kering, saw its profits nosedive by 46% in the first half of the year, largely thanks to Gucci’s underperformance. It’s like watching the prom queen forget her speech—glamorous, but awkward.

The rot isn’t regional—it’s global. Asia-Pacific, once Gucci’s golden goose, is down 22%. Europe, Japan, and even North America followed suit. Yes, inflation, tariff drama, and “luxury fatigue” are plaguing the industry at large, but few houses are flailing quite like Gucci. Even their wholesale channels—those reliable department store backdoors—are drying up, down 42%.

Cue the musical chairs in creative leadership. After Alessandro Michele’s gloriously bizarre reign (think: Renaissance cosplay with a splash of Elton John), Gucci pivoted hard with Sabato De Sarno in early 2023. His “Gucci Ancora” vision was quiet luxury—sensible tailoring, understated chic, and a clear attempt to woo the Loro Piana crowd. Unfortunately, the only thing quieter than the designs were the cash registers. Two seasons in, De Sarno was out, and so was the idea that subtlety could save Gucci.

Enter Demna Gvasalia—yes, that Demna. Formerly of Balenciaga, the designer synonymous with irony, meme couture, and turning IKEA bags into must-haves. He was tapped in March 2025 as Gucci’s new Artistic Director, the first non-Italian in the house’s history. His first collection drops in early 2026, and while it’s still under wraps, you can bet it’ll be weird, wearable (maybe), and strategically shocking.

Meanwhile, upstairs in the boardroom, more shuffling. Stefano Cantino, once Louis Vuitton’s whisperer, became Gucci’s CEO in January. At Kering HQ, François-Henri Pinault is handing over CEO duties to Luca de Meo (ex-Renault) this September. His mission? Turn the Gucci ship around before it hits the iceberg of irrelevance. De Meo’s already wielding the axe—80 stores are set to close, as the group scrambles to cut costs and salvage margin.

Let’s not sugarcoat it: Gucci’s brand identity is fraying. The Michele era worked because it was chaotic genius. The post-Michele world? Disjointed at best. From sequined dragons to safe beige blazers to whatever Demna’s cooking, the brand feels like it's been styled by committee—and not a very fun one.

Meanwhile, rivals are lapping them. Hermès keeps cashing in on Birkin backlogs. Even Chanel and Dior, while not immune to market dips, aren’t suffering Gucci-level drama. For a brand that once made ugly-chic sexy and sold $900 fur slides to the masses, watching this decline feels like witnessing a beloved diva forget her lines.

Still, fashion loves a comeback. If anyone can bring buzz back to the Gucci name, it may be  Demna, armed with dystopian hoodies and a knack for setting the internet ablaze. But until then, Gucci remains a house in freefall—haunted by its own hype, desperate for a reboot, and one more season away from becoming the Myspace of luxury fashion.

TJ Max is salivating.