Demna’s Gucci Is Making Fun Of The Internet

Last Thursday, Gucci debuted its 2026 Primavera show – the first under Demna. It was a sparse set. The models slinked down the runway inside the Palazzo delle Scintille, looked on by muscular statues and thousands of panning iPhones. It was a stark contrast from Sabato de Sarno’s last collection.

To understand why Primavera looks the way it does, you have to start with the numbers. Gucci’s revenue fell 23% year-on-year in 2024, with recurring income dropping 51% from 2023….