Bellettini Takes Helm at Gucci in Kering Leadership Overhaul

French luxury conglomerate Kering has announced a significant leadership change, appointing Francesca Bellettini as the new Chief Executive Officer of its flagship Gucci brand. This move sees Bellettini stepping into the role previously held by Stefano Cantino, who served for a period of just nine months. The appointment marks the first major management reshuffle orchestrated under the new group CEO, Luca de Meo, signaling a fresh strategic direction for the luxury giant.

An Italian-born executive, Bellettini brings a wealth of experience and a proven track record within Kering. Her career initially began in banking before she transitioned into the luxury sector, progressively advancing through Kering's extensive portfolio. Since 2023, she has served as one of the group’s two Deputy Chief Executives, a role in which she notably oversaw the operations and strategic direction of several key luxury houses, including the highly successful Saint Laurent, Balenciaga, and Bottega Veneta.

Accompanying this significant appointment are broader organizational adjustments within Kering's top leadership. Jean-Marc Duplaix will maintain his position as Kering's Chief Operating Officer. Notably, Kering confirmed that both Bellettini’s and Duplaix’s former Deputy CEO roles will be eliminated as part of Luca de Meo’s newly implemented corporate structure. This restructuring aims to streamline leadership and clarify reporting lines across the group's various brands.

Bellettini’s move to lead Gucci comes at a pivotal time for the iconic Italian brand. Following a prolonged period of robust pre-pandemic growth, Gucci has recently faced significant challenges, reporting double-digit sales declines in recent years. Kering's decision to place Bellettini at the helm underscores its strong commitment to revitalizing the performance of this once high-flying brand, which is crucial for the group's overall financial health and market standing.

This strategic leadership change is also designed to address key concerns raised by market analysts and investors. One of their primary demands following Luca de Meo’s recent appointment was a clearer delineation of executive responsibilities within his leadership team. Bellettini’s new role at Gucci, coupled with the elimination of the Deputy CEO positions, provides that much-needed clarity, aiming to instil greater confidence in Kering’s future strategic execution and brand performance.