Gucci chooses Stefano Cantino as new CEO to support brand relaunch
The manager had previously been in charge of marketing and communication for Prada and Louis Vuitton. His appointment comes at a time of change for many players in the industry
2' min read
2' min read
Gucci has a new CEO: he is Stefano Cantino, 57, who had joined the Kering group's flagship brand last May in the role of deputy chief executive officer. From 1 January 2025, Cantino will therefore take over - held ad interim - from Jean-François Palus, who was appointed Gucci's CEO in July 2023, following the departure of Marco Bizzarri, and will report to Francesca Bellettini, deputy ceo of Kering and responsible for the development of the group's brands. The challenge for the new CEO is as important as it is urgent: that of supporting the relaunch of Gucci, a brand that has been in a negative trend for the past year and whose creative direction Sabato De Sarno has been in charge of since January 2023. Gucci generates about two-thirds of Kering's revenues and 2024 began with a minus sign, both in the first quarter (-21% in revenues) and in the second quarter (-20%), which closed with revenues of €4.1 billion (-20% compared to the previous year). On 23 October Kering will release its results for the third quarter.
"I am deeply grateful to Jean-François for his dedication and loyalty to Gucci during this transitional period," said Francesca Bellettini. "I am confident that, based on what has been achieved over the past 15 months, Stefano and the Gucci team will achieve their goal of returning Gucci to the leadership it deserves.
"I sincerely thank Jean-François Palus for what he has achieved at the helm of Gucci since the summer of 2023," said François-Henri Pinault, chairman and CEO of Kering, in a note released by the group. "During a particularly complex period, Jean-François has made difficult decisions that the fashion house needed, and has laid the necessary foundations to renew Gucci so that it can regain new momentum under Stefano's leadership. I would also like to acknowledge his close and continuous collaboration over the last 30 years; which has been truly invaluable and invaluable".
Stefano Cantino, a graduate in Political Science from the University of Turin, has a long experience in the industry, since he was in charge of retail, marketing and communication for several big names. In 2018, he was appointed Senior Vice President Communication & Events at Louis Vuitton. He had previously spent 21 years at Prada, where he served as marketing director, director of communications and external relations and, since 2014, director of marketing and business development for all the group's brands.
Cantino's appointment comes amidst weeks full of events at the top, both managerial and creative, of some of the sector's leading players: Hedi Slimane has left the creative direction of Celine, passing it to Michael Rider; the new creative director of Missoni is Alberto Caliri, the new CEO of Tod's is John Galanctic; Sarah Burton has been appointed creative director of Givenchy and Alberta Ferretti has left her brand after 43 years. The position of creative director at Chanel, for which Slimane himself has been named, remains undiscovered, although highly anticipated. According to another rumour, the former Valentino designer Pierpaolo Piccioli may soon be joining Fendi. (Ch.B.)
