Virginie Viard to Depart from Chanel
After serving as Chanel's Artistic Director for five years following the era of Karl Lagerfeld, Virginie Viard is set to leave the company. Given that Chanel has been performing well financially—with a 16% increase in revenue to $19.7 billion over the previous year—this decision warrants contemplation. Official statements will naturally avoid revealing the true reasons behind her departure, offering only praise for Viard, reminiscent of the farewell to Michele from Gucci.
Viard, who worked alongside Karl Lagerfeld for 30 years, is known for her meticulous work and professional ability to create popular, best-selling items. She is also a wonderful designer in a personal sense.
However, recent collections have seemed less captivating. It's not just the recurring shorts, which may be good sellers; there was a lack of critical engagement with the times or the presentation of a new image of women—elements that resonate with the essence of Coco Chanel. Did Viard achieve any notable innovation during her five-year tenure?
Despite increasing sales, I assumed the management was pleased. Apologies! Those experienced in luxury brand management clearly understood the risk of complacency. While Viard excelled at producing beautiful, proven bestsellers, her lack of long-term innovative contributions likely led to her respectful dismissal (though her talent remains unquestioned; it was a matter of fit).
Producing only items guaranteed to sell, repeating past hits, might yield short-term numbers. Yet, this approach risks saturation and eventual triviality, potentially strangling the brand—much like Gucci in the 1970s.
In luxury, maintaining the status quo because "it's selling" or "it gets numbers" is perilous. Sustainable luxury demands critical engagement with the times, authority that enlightens customers, and a strong assertion of the creator's individuality. The real challenge for management is taking the risk to present "what's next."
Reflecting on my 2018 interview with François-Henri Pinault in Paris, he repeatedly emphasized "taking creative risks." Pinault mercilessly dismissed the popular Michele, who was known for his hit repeats. Competing in the luxury sector involves such decisions.
The pursuit of something beyond mere numbers and venturing into new adventures can yield substantial long-term results. This is the daunting yet fascinating nature of the luxury sector.
This insight extends to other businesses as well. Being critical of the times and current conditions, taking risks to present "what's next," and asserting oneself as an autonomous individual are crucial. Writers striving to survive in the AI era must also embrace this ethos.
Chanel's decision is significant, and its impact on other brands is likely to be substantial.
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