"Kering announced on Wednesday that Francesca Bellettini, former CEO of Saint Laurent, was appointed as Gucci's president and chief executive. According to the press release, she will report to Kering's newly appointed CEO, Luca de Meo. De Meo said in the release that Bellettini was "one of the most seasoned and respected professionals" in the industry, and her leadership would "restore the brand to its rightful place.""
"Bellettini is a company insider who has worked in numerous roles within Kering since 2003. Before joining Kering, she worked as an investment banker in London. She joined the company in 2003 as a strategy planning and merchandising director at Gucci. In 2008, she moved to Kering's handbag and accessories brand, Bottega Veneta, where she stayed till 2013. In 2013, Bellettini was appointed president and CEO of Kering's second-largest brand, Saint Laurent."
"Bellettini's appointment comes as Gucci continues to struggle with sliding sales. In the first half of 2025, Gucci's sales dropped 26% compared to the same period in 2024, while Kering's total sales dropped 16%. This was partially due to consumer preferences moving away from Gucci's maximalist and eclectic styles toward subtle, quiet luxury. However, Kering's stock price is up about 17% in the past year."
Francesca Bellettini has been named president and chief executive of Gucci and will report to Kering CEO Luca de Meo. Bellettini has worked at Kering since 2003, holding roles at Gucci and Bottega Veneta before leading Saint Laurent from 2013 and becoming deputy CEO of Kering in 2023 responsible for brand development. Gucci's sales fell 26% in the first half of 2025 versus the same period in 2024, while Kering's overall sales dropped 16%. Shifts in consumer preference from maximalist Gucci styles toward subtle, quiet luxury are cited as a contributing factor. Kering's stock has risen about 17% over the past year, and Gucci has experienced rapid CEO turnover.
Read at Business Insider
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