Stefano Cantino has been appointed as CEO of Gucci, effective 1 January 2025. Cantino, who joined the company as Deputy CEO in May 2024, will take over from Jean-François Palus, who has served as interim CEO since July 2023. Cantino will have a seat on Kering’s Executive Committee and will report to Francesca Bellettini, Deputy CEO of Kering in charge of Brand Development.
– Stefano Cantino –
This leadership change is part of a broader strategic effort by Gucci’s parent company, Kering, to revitalise the brand after a challenging period. Kering has felt the strain of the luxury downturn, with Gucci particularly affected. The brand reported a 19% sales drop in the second quarter of 2024 to €2 billion, following an 18% decrease in the first quarter. Thus, Palus laid the groundwork for Gucci’s next phase, including appointing key executives such as Cantino. Bellentini expressed his gratitude to Palus and his confidence in the company’s successful future in a statement: “I am deeply grateful to Jean-François for his dedication and loyalty to Gucci over this transitional period. I am confident that, building on what has been set up over the past 15 months, Stefano and the Gucci team will succeed in taking Gucci back to the leadership the brand deserves.”
François-Henri Pinault, Chairman and CEO of Kering, stated: “I wholeheartedly thank Jean-François for his achievements at the helm of Gucci since summer 2023. Over a particularly challenging period, he made the courageous decisions the House needed and built sound foundations for a renewed Gucci to flourish again under Stefano’s stewardship. I also want to acknowledge Jean-François’s close and constant collaboration with me over the past 30 years, which has been invaluable.”
Before joining Gucci, Cantino held significant roles in the luxury fashion industry. He spent five years at Louis Vuitton, where he was in charge of Communications and Image, and two decades at the Prada Group, where he rose through the ranks to become Director of Communications and Marketing. With this extensive background, Cantino is well-positioned to lead Gucci into its new era.
Article edited by Anastasia Fedosova
