De Meo Shakes Up Kering: Bellettini Tapped for Core Operations, Gucci Shake-up Imminent
Luca de Meo, the newly appointed head of the French luxury conglomerate Kering, appears to be wasting no time in instigating a significant strategic overhaul. Having joined from Renault, de Meo conveyed his initial vision at the group's annual general meeting in September, signaling that while a comprehensive new roadmap is slated for announcement in early 2026, immediate adjustments are already in motion before the close of the current year. His official commencement this Monday at Kering's Paris headquarters, the parent company of prestigious brands like Gucci, Saint-Laurent, Bottega Veneta, McQueen, Boucheron, and Balenciaga, has been swiftly followed by substantial leadership changes.
Indeed, these "adjustments" are proving to be major maneuvers. According to reports from WWD and Miss Tweed, Francesca Bellettini, who previously served as CEO of Saint-Laurent and was appointed Kering's Deputy CEO in charge of house development in September 2023, is now expected to assume leadership of the group's core business operations. In this pivotal new capacity, all general managers across Kering's diverse portfolio will report directly to her. This move significantly restructures the management committee, which was formerly led by François-Henri Pinault—who will retain his role as Chairman of the Board as of September 15—with Jean-Marc Duplaix serving as the other deputy managing director overseeing operations.
This prospective appointment of Bellettini to Gucci's general management carries significant implications, particularly suggesting the imminent departure of Stefano Cantino. Cantino, who was recruited from Louis Vuitton in May 2024 as Deputy CEO of Kering's flagship fashion house under Jean-François Palus, subsequently took over as CEO of Gucci on January 1. Should these reported changes be confirmed, Cantino's tenure at the helm of the iconic Roman house would conclude after a mere nine months, underscoring the rapid pace of de Meo's strategic realignment.
For Bellettini, this potential move represents an immense challenge, given Luca de Meo's outspoken emphasis on the urgent need to revitalize Gucci. The brand, which alone accounted for approximately 40% of Kering's global sales in the first half of 2025, is a critical pillar for the group's overall performance, and de Meo's vision includes a strategic "return to its roots." Bellettini's extensive history with Kering, spanning over two decades, positions her uniquely for this task. She initially joined Gucci in 2003, serving as director of strategic planning and associate director of merchandising, before contributing to the growth of Bottega Veneta and, most notably, guiding Saint-Laurent through the end of the Hedi Slimane era and its subsequent flourishing under Anthony Vaccarello.
Media outlets, in announcing this potential new challenge for the seasoned executive, suggest that these significant leadership reconfigurations could be formally announced as early as the beginning of the week. These proactive changes signal Luca de Meo's determined intent to not only streamline Kering's operational structure but also to inject renewed vigor into its most valuable asset, setting a clear course for the luxury group's future strategic direction.
