Chanel announces Virginie Viard’s departure as creative director, prompting discussions on gender representation and potential successors.
- Virginie Viard’s five-year tenure followed Karl Lagerfeld, with Chanel showing notable financial growth under her leadership.
- Despite the financial success, Chanel faces consumer demand for fresh and exciting collections amid significant price increases.
- Industry experts emphasise the need for new ideas to maintain consumer interest and address the widening gender gap in leadership.
- Concerns rise over the lack of female representation in luxury fashion leadership roles following Viard’s exit.
On a recent Wednesday evening, Chanel announced the departure of its creative director, Virginie Viard, who has been with the company since 1987. She took over Chanel’s design direction in 2019, succeeding the legendary Karl Lagerfeld. Viard’s leadership coincided with significant financial growth for Chanel, particularly in operating profit and revenues, despite broader market challenges.
According to the financial results for the year ending 31 December 2023, Chanel’s operating profit increased by 10.9% to £5 billion, while revenues grew by 16% to £15.4 billion. However, Chanel has navigated challenges due to the cost of living crisis and consumer desire for more innovative and exciting collections. Chanel’s pricing strategies, particularly the increase in prices for their handbags, have drawn scrutiny from consumers who question the value proposition.
While Viard successfully leveraged Chanel’s archives to produce commercially successful collections, industry stakeholders like Katie Haxton and Luca Solca suggest that innovation is needed to sustain interest in the brand. The use of archival designs, such as the 1990s heart-shaped bag, contrasts with Lagerfeld’s more experimental approach, leading to a perceived lack of excitement among consumers.
The departure of Viard also prompts a discussion on gender representation within the fashion industry. With Viard’s exit, concerns about the gender gap in leadership roles within luxury fashion houses have intensified. The industry speculation around potential successors includes names like Hedi Slimane and Pierpaolo Piccioli; however, the lack of female candidates in these discussions highlights the existing disparity.
In summary, Chanel’s future direction relies heavily on appointing a suitable successor who can revitalise the brand’s offerings while honouring its legacy. The new creative director will need to balance innovation with Chanel’s classic identity, appealing to a diverse demographic ranging from 18 to 98 years old, and addressing the financial challenges impacting consumer spending.
Chanel’s next creative director must address gender representation while innovating to meet consumer expectations in a challenging market.
