Gucci CEO Set to Exit as Kering’s New Chief Launches Bold Shakeup

The winds of change are sweeping through Kering. Less than one year after his appointment, Gucci CEO Stefano Cantino is set to step down, according to multiple sources close to the matter. His exit underscores the urgency with which newly installed Kering chief executive Luca de Meo is moving to reset the French luxury group — and to steady its faltering crown jewel, Gucci.

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A Swift Reshuffle at the Top

The announcement of Cantino’s departure is expected as early as Monday, coinciding with de Meo’s official first day on the job. The timing is symbolic: de Meo is wasting no time in making his mark on a group that has faced sliding sales, shrinking market share, and mounting pressure from investors.

Francesca Bellettini, Kering’s deputy CEO for brand development and widely respected within the industry, is expected to step into the CEO role at Gucci. Meanwhile, Jean-Marc Duplaix, deputy CEO for operations and finance, will continue as chief operating officer, providing continuity during what is shaping up to be a tumultuous transition.

Gucci’s Central Role in Kering’s Struggles

For more than a decade, Gucci has been Kering’s biggest revenue driver. But after years of meteoric growth under creative director Alessandro Michele, the brand has faced a steep slowdown. Recent collections have struggled to recapture the cultural momentum that once made Gucci fashion’s hottest name.

Cantino’s short tenure was meant to provide stability during this transition, but his departure highlights just how precarious Gucci’s position has become. For de Meo, turning around Gucci is not just a priority, it’s existential. The brand accounts for over half of Kering’s operating profit, making its health critical to the group’s survival.

The Stakes for De Meo

Luca de Meo, a seasoned executive with experience leading major turnarounds in the automotive industry, was brought in to deliver a similarly transformative playbook at Kering. Shareholders have charged him with reducing the group’s €9.5 billion debt load and restoring Gucci to growth while stabilizing the broader portfolio, which includes Saint Laurent, Bottega Veneta, and Balenciaga.

Clarifying leadership at Gucci is his first decisive step. Industry observers note that placing Bellettini, known for her operational discipline and brand-building savvy at the helm signals a pivot towards steadier, long-term growth strategies rather than quick fixes.

What It Means for Kering and the Luxury Market

The leadership reshuffle at Gucci sends a clear message: de Meo is moving quickly, and no role is untouchable. The move also highlights broader turbulence in the luxury sector, where even heritage houses are grappling with slowing demand in China, evolving consumer behavior, and increasing scrutiny over sustainability.

For Kering, the outcome of this shakeup will be watched closely across the industry. Gucci’s revival could reassert the group’s competitiveness against rivals like LVMH and Hermès. Failure, however, risks deepening Kering’s decline at a time when luxury’s growth is fragmenting.

The Bottom Line

Stefano Cantino’s exit after less than a year signals more than just another executive shuffle. It is the opening move in Luca de Meo’s bold attempt to reshape Kering and rescue Gucci from its current malaise. Whether this gamble pays off could determine the trajectory of one of fashion’s most storied groups for years to come.