KERING is reportedly appointing Francesca Bellettini, the group’s deputy CEO, to lead the Italian fashion house GUCCI. This leadership change comes less than a year after Stefano Cantino took the helm and is the first major shakeup under new Kering chief executive Luca de Meo. The move signals an urgent effort to address a deepening crisis at the brand.
Gucci, which accounts for nearly half of Kering’s total sales, has seen its performance falter, with a 21% drop in sales last year and another 25% decline in the first half of 2025. Bellettini’s appointment is a strategic play to leverage her deep understanding of the brand’s challenges and her proven track record. She previously led SAINT LAURENT to a six-fold increase in revenue over a decade, a successful tenure that positions her as a steady hand for the task ahead.
The timing of the announcement is critical, coming just weeks before new creative director Demna Gvasalia is set to unveil his vision for the brand in Milan on September 23. Bellettini has been closely involved in the process of bringing Demna on board, which is seen as a key advantage in her new role. This decisive action by de Meo, who also recently postponed Kering’s plan to acquire the rest of Valentino, signals that the group is moving aggressively to stabilize its biggest and most important brand.
Francesca Bellettini new CEO, GUCCI
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