Kering Expands Gucci Presence in Mexico with New Monterrey Store

Kering pampers Gucci in the most attractive Latin American market for luxury. In times of management changes for the French conglomerate, the company is rearming its business in Mexico with one of its star brands: Gucci. Next year, the firm will open a renovated store in El Palacio de Hierro Monterrey, according to Gucci sources told Modaes.

The new space will be operational in the first quarter of 2026. The Italian company operates in the department store that El Palacio de Hierro has in Monterrey, located in the Paseo San Pedro shopping center.

Currently, Gucci has thirteen points of sale in the Mexican market, most of them being shop-in-shops in Palacio de Hierro, in addition to flagships such as the one on Masaryk Avenue, the one in Artz Pedregal mall or the one in Cancun.

The country is the brand’s main market in Latin America. Gucci is also present in Brazil and Chile, in addition to Caribbean territories such as Puerto Rico, Aruba and Nassau. Earlier this year, the company registered its brand in Argentina, although group sources have already ruled out that Gucci will start operating there.

Gucci has thirteen points of sale in Mexico, including flagship stores and shop-in-shops at the Palacio de Hierro

With its reopening in Monterrey, Gucci follows in the footsteps of Prada, which also recently renovated its space in the department store, with fashion and accessories collections for men and women.

New leadership for luxury in Mexico

This commitment to the Mexican market comes under Gucci’s new regional leadership. Last April, the Italian luxury giant appointed Christophe Marque as president and CEO for the Americas.

Reporting directly to Cayetano Fabry, Marque came to Gucci after more than 25 years of experience in giants such as LVMH, where he held positions of responsibility for DFS Group and also worked for L’Oréal in brands such as Yves Saint Laurent and Giorgio Armani.

Beyond the new director for the Americas, Gucci has been the protagonist of several executive changes this year such as the signing of Demna Gvasalia as creative director after the departure of Sabato De Sarno or the new CEO Francesca Bellettini. Also this year, Kering appointed Maria Cristina Lomanto as president for Europe, Middle East and Africa (Emea), replacing Matteo Mascazzini.

Some of these changes came under the new leadership of Luca de Meo as CEO of Kering, who hopes to reduce its store network, increase prices and reduce the group’s dependence on Gucci.

El Palacio de Hierro began a new phase this year under the leadership of Eléonore de Boysson

In recent quarters, Kering has seen its flagship Gucci reduce its sales by double digits while accumulating debt. At this point, De Meo intends to bet more heavily on its Saint Laurent, Bottega Veneta and Balenciaga brands.

El Palacio de Hierro, a strategic partner of luxury in Mexico, is also facing a new phase under new management. Following the retirement of Spaniard Juan Carlos Escribano, the department store company appointed Eléonore de Boysson, who became the first woman to lead the company.

With extensive experience in the luxury sector, Boysson worked for LVMH for more than two decades and has the mission of maintaining the good results achieved by Escribano in his decade at the helm.