Gucci’s CEO Out, Francesca Bellettini Takes the Reins in Urgent Move to Revive Sales Crisis
In a bold and swift move, Kering, the parent company of Gucci, has reportedly chosen Francesca Bellettini to lead the iconic Italian fashion house. 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.
Bellettini, who previously served as the group’s deputy CEO, is seen as the perfect candidate to address the deepening sales crisis at Gucci. With the brand accounting for nearly half of Kering’s total sales, the 21% drop in sales last year and another 25% decline in the first half of 2025 has been cause for concern.
However, Bellettini’s appointment is a strategic play to leverage her deep understanding of the brand’s challenges and her proven track record. During her tenure as CEO of Saint Laurent, she oversaw a six-fold increase in revenue over a decade, making her a steady hand for the task ahead.
The timing of the announcement is critical, as it comes just weeks before new creative director Demna 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, giving her 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. With Bellettini at the helm, Gucci is poised for a revival and a return to its former glory.
