Stefano Cantino has been elected CEO of Gucci by French luxury goods major Kering, solidifying the management of the Italian fashion house it has been trying to resurrect. He will take over for Jean-Francois Palus in January.
“I have no doubt that Stefano and the Gucci team will be successful in their objective to return Gucci to the position of leadership it deserves, building on the foundation that has been established over the last fifteen months,” Francesca Bellettini, Deputy CEO of Kering,
Palus was appointed Gucci CEO last year to manage a transition period at the label, which lagged behind competitors during the pandemic. Palus has been Kering Chairman and CEO Francois-Henri Pinault’s right-hand man for three decades.
After five years as head of image and communications at LVMH-owned Louis Vuitton, the largest luxury brand in the world, Cantino joined Gucci in May 2024 as deputy CEO. Cantino, who has worked for Prada for 20 years in marketing and communications positions, will be a member of the Executive Committee at Kering.
Under Sabato de Sarno’s creative direction, Kering has been reviving the century-old Italian fashion brand, which contributes to half of group sales and two thirds of profit. Kering has also introduced a new, sleek look.
However, the global luxury market’s decline has complicated the efforts, and China’s recovery—which has historically been Gucci’s most sought-after market—was hampered by a real estate crisis and high rates of youth unemployment at a time when Western markets were retreating following a post-pandemic buying binge.
