Longtime Kering exec Francesca Bellettini has been named CEO of Gucci, tasked with steering its turnaround.
It won’t be easy. Gucci’s sales have been dropping year-on-year since the third quarter of 2023. In Kering’s most recent earnings update for Q2 2025, Gucci sales were down 25 per cent. The stakes are high: Gucci is Kering’s biggest brand, making up 40 per cent of the group’s sales and 50 per cent of its operating income in the first half of 2025.