New Leadership at Gucci: Francesca Bellettini Appointed CEO of Kering’s Flagship

Kering closes the deal for Gucci. The French luxury group has made official the appointment of Francesca Bellettini as the new CEO of Gucci, replacing Stefano Cantino, who will leave the company after only nine months in the position.

The decision is one of Luca de Meo’s first moves at the helm of Kering, where he made his debut this week as CEO. The executive, who comes from Renault, has assured that his transformation plan for the holding company will begin to be implemented before the end of the year. François-Henri Pinault will remain as Chairman of the company.

The changeover at Gucci comes at a time of profound transformation for the brand and the group. Cantino, who joined in May 2024 as deputy CEO and took over as executive director last January, had initiated a restructuring of the team, with appointments such as Maria Cristina Lomanto as president of Europe, Middle East and Africa; Marcello Marcello Lomanto as president of Gucci Europe, Middle East and Africa; Marcello Lomanto as president of Gucci Europe, Middle East and Africa; and Marcello Lomanto as president of Gucci Europe, Middle East and Africa.Marcello Costa as merchandising director; Valérie Leberichel as head of global communications; and Christophe Marque as president and CEO of Gucci Americas.

Jean-Marc Duplaix will continue as Chief Operating Officer of the Kering Group, supporting Luca de Meo in both the development of the Group and the management of its organization. As part of this change, the functions of Deputy CEO of Kering will be eliminated.

Kering confirms the appointment of Francesca Bellettini at Gucci, the executive who increased Saint Laurent sixfold

Gucci has continued to suffer from the slowdown despite these moves. In the second quarter, Gucci posted a 25% drop in comparable sales, dragging down the group’s accounts, which saw its net profit plummet 46% in the first half. The deterioration of results has forced Kering to close stores, sell real estate assets and adjust staff.

Bellettini, currently co-CEO of Kering in charge of brand development, is one of the most recognized executives in the sector, having started her career in investment banking before moving on to Prada, Gucci and Bottega Veneta in the areas of business development, communication and merchandising.

In 2013 she took the reins at Saint Laurent, where she worked with Hedi Slimane and then Anthony Vaccarello. During her decade at the helm of the maison, Bellettini increased the size of the business sixfold, according to market estimates. In July 2023, she was promoted to co-CEO of Kering and has since coordinated, along with Pinault, changes at the top of several brands - Gucci, Balenciaga, Bottega Veneta and Brioni - as well as relinquishing her position as CEO of Saint Laurent to oversee a portfolio of brands that also includes Alexander McQueen, Pomellato and Queelin. It remains to be seen whether or not her appointment at Gucci means she will relinquish these global responsibilities.