Kering Deputy CEO tipped to replace Gucci boss of less than a year

Francesca Bellettini is poised to take the reins at Gucci, with sources indicating Kering is preparing to appoint the accomplished executive as the brand’s next boss.

The move, reported first by WWD, would see Kering Deputy Chief Executive Bellettini replace Stefano Cantino, who is expected to leave the role after less than a year, a sign of just how urgent Gucci’s turnaround has become.

If confirmed, the appointment would be one of the earliest decisions made by Luca de Meo, Kering’s incoming CEO.

De Meo, who officially steps into the role today, has inherited a group under pressure. Gucci, once the engine of Kering’s growth, has seen sales tumble, and that weakness has dragged on the wider group. In July, Kering posted a 16% decline in revenue to €7.6 billion (£6.5 billion) for the first half of 2025, driven by a 26% drop in sales at its flagship brand, Gucci.

For De Meo, stabilising Gucci is the first and arguably most important test of his leadership.

Bellettini, however, brings a strong track record. She began her career in London investment banking before moving into fashion with Prada and Helmut Lang. After joining Kering in 2003, she held senior roles at Gucci and Bottega Veneta before being named CEO of Saint Laurent in 2013.

She spent over a decade at Saint Laurent, transforming the house and scaling the business by blending her creative vision with commercial expertise. Previously working alongside Hedi Slimane and Anthony Vaccarello makes her primed and ready for Demna, who has just taken over as Gucci’s Creative Director and will present his first looks during Milan Fashion Week this month.

Her quick elevation would also reflect Kering’s wider reshuffle. Since being named deputy CEO in 2023, Bellettini has been instrumental in shaking up leadership across the portfolio, overseeing a wave of new CEOs and Creative Directors.

Cantino departs before he could make his mark. Joining from Louis Vuitton in 2024, he began restructuring Gucci’s leadership team, but sales continued to slide. For Kering, the need for a proven leader outweighed the patience to wait for results. His expected exit, alongside Chief Financial Officer Alberto Valente, underscores the urgency of the reset.

Moving forward, Gucci continues to face an ongoing battle in a fiercely competitive luxury market dominated by LVMH’s star players. Kering’s message is clear - there's no time like the present for restoring Gucci to its place as the jewel in its crown.