The music has just stopped in the latest game of fashion musical chairs – and it is Demna Gvasalia who finds himself in Gucci’s creative director seat. The 43 year old will take the reins from July. It’s a surprising choice for the Italian luxury house which has caught fashion

Italian luxury brand Gucci has appointed Georgian designer Demna as its artistic director, owner Kering said on Thursday, as it tries to revitalise its struggling flagship label and stop a slide in sales.

Kering shares dropped a significant 12% on Friday morning, following the announcement of Demna’s appointment at Gucci on Thursday afternoon.