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Alessandro Michele at the 79th Venice Film Festival earlier this year. (Source: Reuters/Yara Nardi)

Gucci creative director Alessandro Michele is leaving the Italian fashion house, the biggest brand of French luxury group Kering, Women’s Wear Daily (WWD) reports.

“Could a major change be taking place at Gucci? Well-placed sources here say that creative director Alessandro Michele is exiting the brand,” WWD said in a report from Milan

A statement was expected as early as Wednesday, it added.

Both Kering and Gucci declined to comment on the WWD report.

Gucci has been successfully revamped with a bold new style since Michele took over the top creative role there in January 2015.

“After seven years in charge of Gucci’s creative engine, it may well be time for a change, and consensus amongst institutional investors appears to be forming that a new approach is required to re-ignite the brand,” RBC analysts said in a note

“Overall, the notion of change in the creative lead at Gucci is likely to be viewed positively by the market, and in Kering’s share price,” they added.

  • Reporting by Dominique Vidalon, Silvia Aloisi and Piotr Lipinski; Editing by Benoit Van Overstraeten, of Reuters.