US EditionFrom Cars to Handbags: Can Renault’s Luca De Meo Revive Gucci Owner Kering?
- Kering appointed Luca de Meo, former Renault CEO, as group CEO effective September 15 after François-Henri Pinault stepped down as CEO while remaining chairman.
- Pinault initiated the governance split and succession plan amid ongoing luxury sector challenges and Kering's recent revenue declines.
- De Meo brings 30 years of automotive experience and a reputation for brand management and turnarounds, notably helping Renault's profitability restoration.
- Bernstein analysts highlighted de Meo's strong skills in brand development and marketing, noting that these strengths align well with the demands of the luxury sector, making him a suitable fit for Kering's objectives.
- De Meo’s appointment signals a strategic shift as Kering aims to revitalize Gucci and prepare for a new development phase despite recent sales and share declines.
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Luca de Meo takes the reins of Kering in crisis
A series of delicate issues awaits the Italian executive arriving from Renault: an unfavorable economic climate, significant debt and the collapse of sales at flagship brand Gucci. Financial markets have responded positively to the announcement of his appointment.
·Paris, France
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DEXYPTAGE - The Italian boss will finally have to succeed in reviving Gucci, in a luxury market at a stop. He will have to print his brand in an area far away from the automobile.
·Paris, France
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After nearly 20 years at the head of the luxury group Kering, François-Henri Pinault passes the hand. Heir of an empire, strategist of luxury, he withdraws as Gucci sinks and the action unscrews. ...
·Brussels, Belgium
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Leaning Left5Leaning Right2Center8Last UpdatedBias Distribution53% Center
Bias Distribution
- 53% of the sources are Center
53% Center
L 33%
C 53%
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