Kering has appointed Francesca Bellettini as CEO and President of Gucci. Kering’s new CEO Luca de Meo wants to simplify the luxury group’s structure and to find solutions to the brand’s dramatic sales declines.
Searching for solutions
De Meo wants to “build a leaner and clearer organization, in which the best talent drive our houses forward. Gucci, as the flagship of our group, deserves the sharpest focus, and Francesca – one of the most seasoned and respected professionals in our industry – will bring the leadership and flawless execution needed to restore the brand to its rightful place”, he said in a press release.
Bellettini has worked for Kering since 2003: she started at Gucci, then held director positions at Bottega Veneta and Saint Laurent. In September 2023, she became deputy chief executive at Kering, a position that will be eliminated as part of this operation. She previously worked as a banker in London, before taking positions at Prada Group and Helmut Lang.
De Meo may call Gucci a flagship brand, but it also proves to be Kering’s Achilles’ heel recently. The 46 % profit drop the group posted in July, came in large part because Gucci saw its sales fall 26 %.
