Kering SA is reshaping its leadership with Cédric Charbit moving from Balenciaga to Yves Saint Laurent, allowing Francesca Bellettini to focus on brand development as deputy CEO.
To fill the vacancy at Balenciaga, Gianfranco Gianangeli, previously chief commercial officer at Yves Saint Laurent, will step in following his tenure at Maison Margiela.
Kering recently appointed Stefano Cantino to lead Gucci amidst a significant decline in profits expected for the year due to reduced demand for high-end products.
Kering has indicated that Gucci's weakened performance is part of a broader trend affecting the luxury goods market amid a global downturn in consumer demand.
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