Luca de Meo, current CEO of Renault, is set to become the new CEO of Kering, the French luxury conglomerate behind Gucci, Saint Laurent and Bottega Veneta. The announcement marks a pivotal moment for Kering, which has struggled in recent quarters to reinvigorate its flagship brand Gucci, once the company’s primary growth engine.
The transition, scheduled for mid-July, marks a significant shift for both industries. Having orchestrated a €967m turnaround at Renault through his "Renaulution" strategy focusing on electric vehicles, operational discipline and repositioning legacy assets—de Meo brings a reputation for revitalising underperforming brands. The market responded swiftly: Kering shares rose nearly 5% following the news, while Renault dipped slightly amid investor concern over succession.
For Kering, the timing is critical. Gucci’s revenues have slipped in recent quarters, and while Stefano Cantino has taken over as Gucci CEO, the brand has yet to regain its dominant market position. Analysts suggest that de Meo’s analytical, product-focused approach could mesh with Gucci’s new creative direction under Sabato De Sarno, delivering a reset in both brand and business strategy.
While de Meo’s appointment may seem unconventional for the luxury sector, Kering is betting on his cross-sector leadership as a catalyst. “Luca de Meo has expressed his decision to step down in order to take on new challenges outside the automotive sector,” Renault confirmed, highlighting the scale of his ambitions. With Gucci increasingly exploring tech-enabled retail and experiential stores, de Meo’s background in digital transformation is expected to play a central role.
For investors and retail developers, the implications go beyond leadership. Kering has been quietly reassessing its global retail footprint, considering the conversion of flagship sites into more immersive, high-margin boutique experiences. Developers stand to benefit from this retail recalibration, particularly in gateway cities where Gucci’s next evolution will unfold in physical formats.
Kering’s move to separate the chairman and CEO roles, François-Henri Pinault remaining chairman, further supports a structural shift that could enhance governance and investor confidence.
People mentioned
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Luca de Meo, current CEO of Renault, incoming CEO of Kering
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Stefano Cantino, CEO of Gucci
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Sabato De Sarno, Creative Director of Gucci
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François-Henri Pinault, Chairman of Kering
Companies mentioned
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Kering – parent company of Gucci, Saint Laurent, Balenciaga
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Gucci – luxury fashion house under Kering
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Renault – automotive company, de Meo's current employer
Image Source: COURTESY OF GUCCI BY PATRICK BREUGL
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