In a bold move that could redefine luxury fashion, Gucci's president and CEO Francesca Bellettini is meticulously transforming the brand’s management structure just three months into her tenure. This strategic overhaul is anticipated to bolster the company’s revival under the creative direction of Demna, who joined from Balenciaga.
Demna’s introduction to Gucci, particularly through his debut collection titled "La Famiglia" showcased in September, has undeniably injected fresh energy and excitement into the brand. However, Bellettini recognizes the necessity of a robust organizational framework that can effectively enhance the merchandising, marketing, and communication of these new collections.
Immediately following her appointment in September, Bellettini has made swift changes, including the creation of a pivotal position that was filled in November by Dario Gargiulo, who previously served as the CEO of Bottega Veneta in Greater China. In his new role as Gucci’s chief client, marketing, and commercial officer, Gargiulo reports directly to Bellettini, indicating her intention to build a more customer-centric organization with a cohesive commercial strategy spanning all distribution channels.
Bellettini brings a wealth of experience to this role. Formerly Kering’s deputy CEO overseeing brand development, and the CEO of Saint Laurent, she played a crucial role in expanding its size nearly sixfold from 2013 until January of last year. Her career began in investment banking, transitioning into business development and later into communications and merchandising roles at prestigious fashion houses such as Prada and Gucci.
With Gargiulo’s arrival, there were also significant shifts in the leadership team; Maria Cristina Lomanto, who had been Gucci’s president for Europe, the Middle East, and Africa since May, departed the company. She was succeeded by Cayetano Fabry, who took over as chief commercial officer and head of the EMEA region.
Bellettini has also implemented a new reporting structure, ensuring that all regional presidents report directly to her. This change aims to streamline operations and enhance communication across the brand.
In December, Gianluca De Ficchy was appointed as Gucci’s chief financial officer, taking over from Alberto Valente, who held the title of chief financial, data, and operations officer and had dedicated 17 years to the company. Notably, De Ficchy joins Gucci from the automotive sector, having most recently served as the CEO of Mobilize within the Renault Group, where he also held the position of chairman at RCI Banque SA.
Another key addition is Giovanni Perosino, who became the senior vice president of marketing in December, reporting to Gargiulo. Previously, he was the global chief marketing officer at Maserati and boasts over 25 years of expertise in brand strategy, marketing, and communications, having held senior roles at Fiat Chrysler Automobiles, Audi, Lamborghini, and ITA Airways.
Luca de Meo, who took on the role of CEO at Gucci's parent company Kering in mid-September, brings extensive experience from his five-year leadership at Renault and a remarkable 30-year background in the automotive industry, having worked with brands like Fiat, Alfa Romeo, Toyota, Volkswagen, and Seat.
These recent appointments come on the heels of Valérie Leberichel’s exit from Gucci. She joined the company in late December 2024 as the senior vice president of global communications, recruited by the former CEO Stefano Cantino.
Despite the upheaval in leadership, Gucci has reported a better-than-anticipated performance in the third quarter. Organic sales experienced a 14 percent decline in the three months leading up to September 30, which was less severe than the company's own consensus forecast of a 16 percent drop. This is a notable improvement compared to a more daunting 25 percent decrease recorded in the second quarter.
