Gucci, Francesca Bellettini and the responsibility for the supply chain. The flagship brand of Kering has appointed its fourth CEO in just two years. The French luxury conglomerate, under pressure, is reshuffling its top management under the direction of its new group CEO, Luca de Meo. The goal: a faster, leaner organisation. Here are the (mixed) reactions to Gucci’s latest change at the top.
The fourth CEO in two years
After barely nine months, Gucci’s now former CEO, Stefano Cantino, has left Kering. Stepping in his place is Francesca Bellettini (pictured right, Imagoeconomica), who leaves behind two roles: that of Deputy CEO of Kering and Head of Gucci Development since 2023. With this handover, the position of “Deputy CEO of Kering”, which she previously shared with Jean-Marc Duplaix, has been scrapped altogether. Bellettini’s appointment is being interpreted less as a change in direction for Gucci than as a move of strategic continuity.
Reactions to the appointment
Reuters notes that Bellettini has already played a central role in many of the brand’s recent decisions — among them the hiring of Cantino himself and of Demna Gvasalia as Creative Director. For that reason, many commentators view her appointment as “long overdue”. “Frankly, this is what they should have done two years ago”, one luxury industry executive told the Financial Times. Indeed, Bellettini had been widely tipped as the right successor to Marco Bizzarri back in 2023, but instead Jean-François Palus took the reins, later replaced by Cantino.
Dissatisfaction and concerns
Those who believe Gucci requires a much stronger jolt and a radical overhaul of its management are not pleased with Bellettini’s promotion. “Cantino wasn’t delivering the results, De Meo had a big job to do and Bellettini needed somewhere to shine”, another industry executive told the British press. “Bellettini and De Meo are the brand’s last hope — and perhaps Kering’s as well”.
Confidence and expectations
“With a Group CEO coming from another sector (de Meo hails from Renault, ed.), having a leader like Bellettini, with deep knowledge of the fashion industry, of Kering and of Gucci, could be a real asset”, Mario Ortelli of Ortelli & Co told Vogue Business. Investors now hope the Bellettini–Demna pairing can become the new Bizzarri–Michele. It is a hope shared by the wider supply chain, which beyond the executive merry-go-round, longs for a swift turnaround at the brand. As Ortelli himself notes: “Given its size, Gucci has to be relevant to a broad customer base in order to generate sufficient sales”. Volumes matter — and beyond reviving Gucci, Bellettini is tasked with lifting an entire supply chain.
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