Another change of CEO at Gucci as Luca de Meo makes his mark
The new chief executive of luxury group Kering, Luca de Meo, has wasted no time in shaking up he group’s biggest brand, Gucci.
It announced on September 17 that Francesca Bellettini would become the new chief executive of Gucci. She was formerly the deputy chief executive of the Kering group, a role that will now be eliminated.
Mr de Meo, who took up his new role at Kering at the start of September after three decades in leadership roles in the automotive sector, said he wanted to build “a leaner and clearer organisation”. He added that he wanted “the best talent” to drive Kering brands forward.
“Gucci, as our group’s flagship brand, deserves the sharpest focus,” he added, “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.”
This move means the exit of Stefano Cantino from the top job at Gucci less than a year after his appointment. Mr Cantino took up the role at the start of 2025, taking over from Jean-François Palus. Mr Palus himself led Gucci for only 15 months, taking over in 2023 when Marco Bizzarri left.
This means Francesca Bellettini will become Gucci’s fourth chief executive in two years. This turmoil at the top has coincided with a serious fall in revenues at the brand. In its most recent results, Kering attributed €3 billion of its total revenues for the first six months of 2025 to Gucci.
This contrasted with first-half revenues of €4.1 billion in 2024 and of €5.1 billion for the same period in 2023.
Ms Bellettini joined Kering in 2003 as strategic planning director and associate global merchandising director of Gucci. In 2008, she joined Bottega Veneta and became its merchandising and communications Director in 2010. In 2013, she became chief executive of Saint Laurent.
In September 2023, she was appointed to the role of deputy chief executive of the whole Kering group. She said she was “excited to embark on this new challenge”.
Credit: Kering/Marco Cella.
