Top two quit at Gucci fashion group

TOM FORD, the designer credited with reviving the fortunes of the Gucci group and giving the likes of Stella McCartney an international platform, is to quit.

He will leave the Italian-based fashion house next spring along with its chief executive, Domenico de Sole.

The departure of the two men credited with building the firm into a global force in fashion comes after recent poor sales but with the industry apparently poised for an upturn.

Ford rejuvenated Gucci when he was appointed in 1994, re-modelling its designs and creating a huge commercial empire.

A Gucci spokesman said: 'Domenico and Tom are stepping down. They are not renewing their contracts and they will be leaving.'

Their joint departure, agreed after discussions involving the group's controlling shareholder, French group Pinault Printemps Redoute, will take effect on 30 April, he said.

'They are a team and they will be leaving as a team to pursue other ambitions. There were long discussions with PPR about the future. They couldn't make common ground about the direction the group should take.'

Gucci's reviving fortunes after a two-year lull in the luxury market has been spearheaded by the recruitment of Britons Alexander McQueen and McCartney.

Texan-born Ford was also credited with turning around the Yves Saint Laurent ready-to-wear brand after Gucci acquired the label when it was sold in 1999.

Head of design Ford's twice-yearly collections for YSL were among the hottest of the season.