不到十个月，古驰的CEO又换了

Core Viewpoint - Kering has appointed Francesca Bellettini as the new CEO of Gucci, following the replacement of Stefano Cantino, who served for less than ten months, indicating a significant internal restructuring aimed at reviving the brand's performance after consecutive sales declines [1][2]. Group 1: Management Changes - Luca de Meo, the newly appointed CEO of Kering, initiated internal changes, including the replacement of Gucci's CEO and the elimination of the brand's deputy CEO position [1]. - Francesca Bellettini, previously the CEO of Saint Laurent, is recognized for her strong execution skills and is tasked with restoring stability and market trust in Gucci [2]. Group 2: Brand Performance Challenges - Gucci, a key brand for Kering, has seen a significant sales decline, with a 25% year-over-year drop in Q2 2025, raising concerns about its brand positioning and value perception [1][3]. - The luxury market has experienced rising prices, pushing entry-level customers away from Gucci, necessitating a re-establishment of a price gradient that appeals to both luxury and younger consumer segments [3]. Group 3: Market Outlook - Analysts believe Bellettini's leadership will enhance Gucci's execution and organizational stability, with a focus on reversing the sales downturn and establishing a clear brand narrative [3]. - Kering's overall competitiveness and valuation are at stake, as Gucci's struggles are mirrored by declines in other brands like Saint Laurent, which saw an 8% revenue drop in FY2024 and a 13% decline in Q2 [3].