Luca de Meo

Spear’s Review

Luca de Meo has been appointed to the top job at French luxury goods group Kering, after leaving carmaker Renault in June 2025. His is the hardest job in fashion. Kering, home to Gucci, Saint Laurent, Balenciaga, McQueen and Boucheron, is battling to reduce its €10 billion debt pile. The French group has lost more than two-thirds of its market value in the past four years, and flagship brand Gucci suffered a 25 per cent year-on-year fall in sales in the first half of 2025.

The Italian’s first order of business is reviving Gucci, which generates up to 60 per cent of Kering’s sales and 80 per cent of profits, analysts say. All eyes are on the brand’s new artistic director, Demna Gvasalia (formerly of Balenciaga), and Kering also recently confirmed the appointment of a new Gucci CEO, Francesca Bellettini.

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