The flagship brand of French multinational Kering has announced Francesca Bellettini as its new chief executive officer for Gucci. The luxury fashion industry has seen yet another high-profile leadership shake-up. Francesca replaces Stefano Cantino, who held the top position for only nine months.
The change comes just days after Luca de Meo stepped in as the new CEO of Kering, signalling his intent to restructure the group quickly. Under his strategy, Gucci is now receiving sharper focus, with Bellettini given full responsibility for steering the Italian house during a difficult period marked by declining sales and management uncertainty.
Bellettini is not new to Kering. She has worked with the group for two decades, holding leadership roles at Gucci, Bottega Veneta, and most recently at Saint Laurent, where she transformed the label into a global powerhouse. Since 2023, she has served as deputy CEO of Kering, leading brand development.
By appointing her directly to lead Gucci, Kering has eliminated its dual deputy CEO structure, a move aimed at simplifying operations and cutting overlap. Jean-Marc Duplaix will continue as the group’s chief operating officer, supporting de Meo in broader organizational reforms.
Gucci’s leadership changes highlight ongoing challenges for the brand. Once Kering’s strongest performer, generating more than €10 billion annually at its peak in 2022, Gucci has struggled over the past two years. Designer changes, shifting consumer demand, and macroeconomic pressures have contributed to sales falling by 25% in the first half of 2025.
Bellettini steps into the role at a pivotal time. While the brand has a strong heritage and global recognition, it must reconnect with its consumers and adapt to a rapidly changing luxury market. Upcoming capsule collections for Christmas and Chinese New Year are expected to be among her early priorities. Gucci is also preparing for the debut runway show of its new creative director, Demna, in March 2026, which will play a central role in reshaping the brand’s creative direction.
The move at Gucci mirrors broader trends in the luxury sector. Major fashion houses, including Chanel, Dior, Celine, and Versace, have all undergone leadership and creative shake-ups in recent years. The high-end market, valued at over $400 billion globally, is undergoing a phase of rapid reinvention as brands navigate shifting cultural tastes, generational shifts among consumers, and increased scrutiny of performance.
For Bellettini, the challenge lies in stabilizing Gucci’s revenues while giving space for fresh creative energy to shine. Her track record at Saint Laurent shows her ability to scale a fashion house without losing its identity, an experience many believe she will now apply to Gucci.
Gucci’s next chapter has officially begun, and with one of the most respected executives in luxury now leading the way, the brand is set for a period of intense transformation.
