What's Happening?
Gucci's chief executive, Stefano Cantino, is set to leave the company after less than a year in the role, as part of a broader shakeup by Kering's new CEO, Luca de Meo. Francesca Bellettini, currently Kering's deputy CEO for brand development, is expected to succeed Cantino. This move is part of de Meo's strategy to address the ongoing crisis at Kering, particularly focusing on Gucci, which accounts for a significant portion of the group's sales and profits. Gucci has faced declining sales, with a 21% drop last year and a further 25% decrease in the first half of 2025. The leadership change comes ahead of a significant presentation by Gucci's new creative director, Demna, in Milan.
Why It's Important?
The leadership changes at Gucci are critical as the brand is a major contributor to Kering's financial performance. The appointment of Francesca Bellettini, who has a successful track record at Saint Laurent, signals a potential strategic shift aimed at revitalizing Gucci's market position. The changes reflect Kering's urgent need to stabilize and grow its flagship brand amid declining sales. The outcome of these changes could significantly impact Kering's overall market performance and investor confidence. Stakeholders, including employees, investors, and industry analysts, will be closely monitoring the effectiveness of these strategic decisions.
What's Next?
Further announcements regarding changes in Gucci's senior management are anticipated, including the replacement of the chief financial officer. The upcoming presentation by Gucci's creative director, Demna, will be a critical moment for the brand to showcase its new direction. Kering's CEO, Luca de Meo, is expected to continue making swift decisions to realign the company's strategy and operations. The industry will be watching closely to see if these changes can reverse Gucci's sales decline and restore its market leadership.
