In a significant leadership change signaling a new direction for one of the world’s most iconic fashion houses, Kering has officially appointed Francesca Bellettini as the new President and CEO of Gucci. The move, announced by Kering’s new CEO Luca de Meo, comes as the luxury group aims to revitalize its flagship brand and reverse a period of declining sales.
Bellettini, who previously served as Kering’s Deputy CEO, is taking on a monumental task. She succeeds Stefano Cantino, who held the position for only nine months. This swift change underscores the pressure on executives to deliver rapid results and highlights Kering’s commitment to a leaner, more focused organizational structure. The Deputy CEO roles previously held by Bellettini and Jean-Marc Duplaix have been eliminated, with Bellettini now reporting directly to de Meo.
This appointment is a clear vote of confidence in Bellettini’s track record of success. As the former CEO of Saint Laurent for over a decade, she is widely credited with the brand’s remarkable turnaround, leading it to a six-fold increase in revenue. Her ability to balance creative vision with commercial discipline is seen as the key to restoring Gucci’s former glory.
The timing of her appointment is crucial. Bellettini will be working closely with Gucci’s new creative director, Demna, whose debut collection is set to be unveiled at Milan Fashion Week. Bellettini was reportedly instrumental in Demna’s hiring, and their collaboration is expected to set the tone for Gucci’s future. The new leadership team is tasked with sharpening brand positioning and reviving the creative energy that has long defined the house.
For Kering, which has seen its profits and sales tumble in recent quarters, the stakes are incredibly high. Gucci, which historically accounts for nearly half of the group’s revenue, has been a significant drag on performance. Bellettini’s proven leadership and industry expertise offer a beacon of hope for a brand in need of a fresh start. This isn’t just a personnel change; it’s a statement about Kering’s strategy to streamline and refocus its efforts on its biggest asset. The fashion world will be watching closely to see if Bellettini can once again work her magic and lead Gucci into a new era of success.
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