Kering announced that Francesca Bellettini, one of the group’s most seasoned executives, has been appointed President and Chief Executive Officer of Gucci, effective immediately. She succeeds Stefano Cantino, who exits the role after less than nine months, as the French luxury group seeks to revitalize its flagship Italian brand following a period of slowing sales and leadership turbulence.
Bellettini, formerly Deputy CEO of Kering in charge of Brand Development and the long-time chief executive of Yves Saint Laurent, will now lead Gucci’s full operations. Her responsibilities include overseeing creative strategy, merchandising, financial performance, operations, and long-term brand positioning. She will report directly to Luca de Meo, the new CEO of Kering, who took over earlier this year.
“At this pivotal moment, I intend to build a leaner and clearer organization in which the best talent drives our Houses forward,” said De Meo. “Gucci, as the flagship of our Group, deserves the sharpest focus, 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.”
Gucci has faced sharp sales declines, with revenues dropping around 25% year-on-year in Q2 2025. The downturn followed instability in both leadership and creative direction, leaving investors and industry insiders questioning the house’s long-term trajectory.
In response, De Meo has begun restructuring Kering’s executive ranks. The dual deputy-CEO structure that Bellettini once shared with Jean-Marc Duplaix has been scrapped. Duplaix remains Group Chief Operating Officer, while Bellettini steps fully into Gucci’s top job, consolidating decision-making at the brand and sharpening accountability.
Bellettini brings a reputation for disciplined management and creative sensitivity. After a career that began in finance with Goldman Sachs and Deutsche Morgan Grenfell, she transitioned to fashion in the late 1990s, holding senior roles at Prada, Helmut Lang, Gucci, and Bottega Veneta before joining Yves Saint Laurent in 2013.
At Saint Laurent, she orchestrated one of the luxury industry’s most remarkable turnarounds, growing revenues from €557 million in 2013 to nearly €3 billion by 2024. She also successfully navigated a creative director transition, ensuring Anthony Vaccarello’s modern vision resonated while honoring the maison’s DNA. By 2023, her impact was so significant that she was elevated to Deputy CEO of Kering, with all brand heads reporting directly to her.
Her effectiveness was recognized not only in business but also culturally. She was awarded the Chevalier of the Légion d’Honneur by France for her contributions to the industry.
“I am truly honoured to take on direct responsibility for Gucci, one of the world’s most iconic luxury Houses,” said Belletini. “I look forward to working under the leadership of Luca de Meo, whose innovative and fresh perspective inspires us to push boundaries. I’m excited to embark on this new challenge together with the whole Gucci team and alongside Demna, whose creativity I have always admired.”
One of Bellettini’s first major milestones will be overseeing the relaunch of Gucci under Demna, the newly appointed creative director. Demna’s debut collection is expected to be unveiled as a film during Milan Fashion Week on September 23, 2025. The presentation will be closely watched for signals about the house’s future aesthetic and commercial positioning.
Industry analysts note that Bellettini will be under pressure to balance Gucci’s maximalist legacy under Alessandro Michele with the sharper, profitability-driven strategy Kering demands. Her ability to align creativity with commercial clarity is seen as critical to restoring Gucci’s market dominance.
For Kering, Bellettini’s appointment is a message of stability and discipline. Gucci remains the group’s largest brand, and its performance has an outsized impact on Kering’s overall financial health. By placing Bellettini at the helm, De Meo is signaling a commitment to rigorous management and brand clarity.
Analysts suggest Bellettini may review pricing strategies, distribution channels, and marketing efforts while strengthening Gucci’s identity in a crowded luxury market. The expectation is a focus on long-term profitability, global expansion, and a carefully curated creative vision that restores consumer confidence.
As Gucci turns a page, all eyes are on Francesca Bellettini. Her record of combining heritage stewardship with commercial success at Saint Laurent gives her strong credentials. Yet the challenges at Gucci, from declining sales to brand repositioning, are considerable.
With her mix of discipline, vision, and deep ties to the luxury world, Bellettini’s leadership marks the beginning of what could be one of the most closely watched chapters in the history of Italian fashion.
