In 2004, Giannini was appointed to head women's accessories when Tom Ford departed the company. At the time, Gucci stores focused its inventory on the "GG" monogram canvas bag. Giannini attempted to change Gucci's style from Tom Ford's designs by drawing from Gucci's heritage. Based on the 1960s Grace Kelly scarf, she developed the "Flora" collection of colorful bags. The collection was not well received by critics. In 2006, Women's Wear Daily commented: "Trends do not start here." However, Flora proved to be Giannini's first commercial success and she applied the style to other accessories including ballet shoes. In 2006, Giannini was promoted to Creative Director for the entire Gucci label.
Giannini continues to design from heritage. For example, the 2010 Winter Men's line was noted for influences from Gucci's equestrian history. However, Giannini says, "I don't think it is a nostalgic collection, but heritage is good for me—going back to the archives, but looking forward to the future."
On December 12, 2014, Kering SA announced Frida Giannini and Patrizio di Marco will be leaving the company. Giannini plans to see the fall/winter collection through to the Milan Fashion Week and departed in early 2015.  Her successor is Alessandro Michele.
The life and work of Giannini was the subject of 2013 film The Director - An Evolution in Three Acts.
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