Kering has announced a significant change in its executive leadership appointing Luca de Meo CEO, effective 15 September 2025.
This is subject to shareholder approval at a meeting scheduled for 9 September.
The move follows a proposal from the Board of Directors, chaired by François-Henri Pinault, who will retain his role as Chairman, officially separating the governance functions of Chairman and CEO.
The appointment of de Meo, who is described as an industry veteran with more than 30 years’ experience in global automotive leadership, marks what Pinault describes as a “decisive step in the evolution of Kering's governance” as the French luxury group enters a new phase of development.
“After twenty years of transforming Kering into a major global luxury player, the group is ready for a new stage in its development,” said Pinault in an official press release.
“His experience at the helm of an international listed group, his sharp understanding of brands, and his sense of a strong and respectful corporate culture convinced me that he is the leader I was looking for to bring a new vision and steer this chapter in our group's history.”
De Meo most recently served as CEO of automobile company Renault Group and has held leadership roles at SEAT, Audi, Volkswagen and Fiat.
His expertise in brand repositioning and digital transformation is expected to help revitalise Kering’s strategy across its fashion, leather goods, jewellery and growing beauty divisions.
“I am approaching this new professional challenge with enthusiasm, eagerness and confidence,” de Meo said.
“Inspired by the strength of the group’s brands and the expertise of its people, I am convinced that together we will continue to make Kering an essential player in the luxury industry.”
De Meo’s appointment comes amid turbulent times for Kering’s fashion portfolio.
In its Q1 2025 earnings report, the group posted a 14% drop in revenue on a comparable basis, driven largely by a 25% fall at Gucci, its largest brand.
Saint Laurent also declined by 8%, with overall softness across the Asia-Pacific and North America markets.
However, Kering Beauté, the Group’s beauty business – offered a silver lining.
The division saw a 6% increase in sales for the quarter, boosted by strong demand for niche fragrance brand Creed and anticipation surrounding an upcoming Balenciaga Beauty launch.
Wholesale revenue in the beauty segment also rose by 2%, underscoring its resilience in an otherwise sluggish luxury environment.
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