Luca de Meo, the CEO of Renault, is leaving his position to take the helm of Kering, a luxury conglomerate that includes luxury fashion brands Gucci and Balenciaga. De Meo’s move coincides with Kering’s quest for new management in an effort to turn around its faltering sales.
His departure from Renault represents a significant career change from the automotive industry to high fashion. “Luca de Meo has stated that he has decided to leave to embark on a new journey in a new challenge outside of the car industry,” Renault said.
Kering has been suffering from weakening sales, particularly at its flagship brand Gucci and is reported to be going through a leadership transition. Current head François-Henri Pinault is expected to stick on as chair while de Meo will be tasked with returning the company’s global appeal.
Kering has endured tough times across several quarters, reporting first-quarter 2025 sales down 14%, including a 25% drop in Gucci revenues. The group has reported sharp declines in sales in Asia, Western Europe and North America, due to slowing demand and growing competition.
Although Kering has not confirmed the appointment, analysts believe de Meo’s energetic leadership persona and experience in transforming brands could help Kering get back on the path to growth.
