Gucci appoints Stefano Cantino as their new chief executive officer
In a significant move for the luxury fashion industry, Stefano Cantino has been appointed as the CEO of Gucci, effective from January 1, 2025. This announcement was made in a press release on Tuesday.
Prior to joining Gucci, Cantino had a distinguished career with rival luxury fashion conglomerate LVMH, where he worked for Louis Vuitton, overseeing communication and brand image. Before that, he spent more than 20 years with the Prada Group, holding multiple marketing and commercial department roles.
Cantino's appointment follows the departure of Marco Bizzarri from the role of Gucci's president and CEO. Jean-François Palus, who served as Gucci's managing director prior to his interim role as CEO, has been leading the brand in the interim period. Palus was instrumental in setting up the foundation for Gucci's next chapter, which includes naming a new CEO.
Gucci, Kering's largest brand, has been facing financial challenges. During the first half of 2024, the brand's recurring operating income declined 44%, and its revenue fell 20%. These shaky financial results have marked a significant departure from the brand's previous success under Bizzarri's leadership.
In his new role, Cantino will report to Francesca Bellettini, Kering's deputy CEO of brand development. The appointment marks the beginning of a new chapter for the Gucci brand under Kering. In the press release, the company stated that Cantino will help Gucci with its new chapter that they are currently writing for the House with determination and long-term vision.
Cantino's experience in luxury fashion, coupled with his proven track record in communication and brand strategy, makes him an ideal candidate to lead Gucci into its next phase. As the brand navigates challenging financial waters, Cantino's leadership is expected to provide the stability and direction necessary to steer Gucci towards a successful future.
This appointment signifies a new era for Gucci, and it will be interesting to see how Cantino's vision for the brand unfolds in the coming years. With his extensive experience in the luxury fashion industry, Cantino is well-positioned to guide Gucci through its next chapter and beyond.
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