In a bold and immediate strategic move, Kering has reportedly appointed Francesca Bellettini, the group's deputy CEO, to head the esteemed Italian fashion house, Gucci. This significant leadership transition comes less than a year after Stefano Cantino assumed the top position, marking the first major shift under the new Kering chief executive, Luca de Meo. This decision underscores a pressing effort to counteract a deepening downturn within the brand.
Gucci, which contributes nearly half of Kering's total revenue, has experienced a significant dip in performance, with sales reportedly falling by 21% last year and an additional 25% in the first half of 2025. Bellettini's selection is a deliberate tactic to capitalize on her comprehensive understanding of the brand's challenges and her demonstrated success. Her previous leadership saw Saint Laurent's revenue multiply six-fold over a decade, a tenure that solidifies her as a reliable leader for the demanding task ahead. The timing of this announcement is particularly crucial, as it precedes the unveiling of new creative director Demna's inaugural vision for the brand in Milan on September 23. Bellettini's close involvement in recruiting Demna is perceived as a key advantage in her new capacity. This decisive action by de Meo, who recently deferred Kering’s plan to acquire the remaining stake in Valentino, signals the group’s aggressive approach to stabilizing its most prominent and vital brand.
The luxury fashion industry is dynamic and ever-evolving, constantly demanding innovative leadership and strategic foresight. Kering's proactive measures to revitalize Gucci demonstrate a commitment to excellence and resilience in the face of market challenges. This leadership change not only reflects a strategic business decision but also embodies the continuous pursuit of artistic innovation and market relevance, setting a powerful example for sustained success in the global fashion landscape.