Francesca Bellettini has been named president and CEO of Gucci, taking the reins from Stefano Cantino after a brief nine-month tenure. The appointment signals yet another seismic shift at the storied Italian house, which has cycled through four leaders in just two years. All eyes are now on what this leadership shake-up means for Gucci’s future direction. The news follows March’s high-profile hire of Demna as creative director – an audacious move that brought the Balenciaga maverick, lauded for his trailblazing vision but shadowed by controversy, into the Gucci fold.
Here’s what Gucci’s new moves could mean for the future of the luxury fashion brand.
Who is Francesca Bellettini?
Reporting directly to Kering chief executive Luca de Meo, Bellettini steps into one of fashion’s most scrutinised roles at a moment when Gucci’s creative and commercial future hangs in the balance.
Bellettini is hardly a newcomer to the luxury stage, though. She began her career in London as an investment banker before pivoting into fashion with roles at Prada and Helmut Lang, eventually joining Kering in 2003. After early stints at Gucci and Bottega Veneta, she took the helm at Saint Laurent in 2013, where she transformed the maison into one of the group’s fastest-growing powerhouses. In 2023, she was elevated to Kering Deputy CEO, charged with brand development across the portfolio – a role that positioned her as one of the most influential executives in luxury.
Her appointment at Gucci is more than an internal promotion: it’s a strategic power play. With Demna newly installed as creative director, Bellettini’s proven ability to align bold design with commercial growth could be exactly what Gucci needs to cement its footing in an increasingly competitive market.
Luca de Meo stated in a Kering press release: “At this pivotal moment, I intend to build a leaner and clearer organisation in which the best talent [drives] our Houses forward. Gucci, as the flagship of our Group, deserves the sharpest focus, and Francesca – one of the most seasoned and respected professionals in our industry – will bring the leadership and flawless execution needed to restore the brand to its rightful place.”
Francesca Bellettini added in the same release: “I am truly honoured to take on direct responsibility for Gucci, one of the world’s most iconic luxury Houses. I look forward to working under the leadership of Luca de Meo, whose innovative and fresh perspective inspires us to push boundaries. I’m excited to embark on this new challenge together with the whole Gucci team and alongside Demna, whose creativity I have always admired.”
Jean-Marc Duplaix will remain in his role as Group Chief Operating Officer of Kering, working alongside Luca de Meo to steer both the group’s strategic development and its organisational management. Notably, with Francesca Bellettini’s move to Gucci, Kering is doing away with the position of deputy CEO altogether – a structural shift that signals de Meo’s push for a leaner, more streamlined leadership model at the top of the luxury group.
Why Francesca Bellettini?
Francesca Bellettini’s appointment at Gucci feels like a natural progression for one of fashion’s most respected executives. Over the past decade, she has built a formidable track record as a leader with both strategic vision and commercial acumen. When she took the helm of Saint Laurent in 2013 – then still known as Yves Saint Laurent – the maison was at a crossroads. Under her stewardship, the brand not only redefined its image but also became one of the fastest-growing powerhouses in luxury. According to Business of Fashion, sales soared nearly six-fold during her tenure, eventually topping €3 billion, a transformation few in the industry could rival.
Gucci, however, presents a different kind of challenge – and an extraordinary opportunity. Once the undisputed engine of Kering’s growth, the brand has struggled in recent years, with sales sliding since the third quarter of 2023. In its most recent earnings update, Vogue Business reported that revenues were down 25 percent in the second quarter of 2025. Given Gucci’s outsized role in Kering’s portfolio, the stakes could not be higher.
Yet if anyone is equipped to steer Gucci into a new era, it is Bellettini. She has a proven ability to marry daring creative vision with disciplined business strategy, an essential skill as she partners with Demna, Gucci’s newly appointed creative director. The combination of Bellettini’s commercial instincts and Demna’s disruptive design language could spark the kind of cultural and financial renaissance Gucci needs to reclaim its place at the forefront of luxury.
And they have something in common – the desire to take risks.
“I love to see ideas that I would never think of. In this sense, it’s the freedom of the [brand] CEO to be able to say yes to creative ideas,” she previously told WWD, when asked about how much creative freedom her creative directors are given. “It would be easy to say no all the time — no because there’s no budget, no because it’s too risky. You have that power when you are the boss.… Whenever I say no, it always comes with the reason why. But a yes to a creative idea can bring you to the magic. And when you have incredible creative people working with you, that’s what you want to do.”
Bellettini is also one who plans ahead. “You need to have a long-term vision. The DNA of the brand is forever, like the DNA of a person. We all evolve as people, we all adapt, we all change, but we don’t change who we are. I always give this example when I must define a brand. A brand for me is like a person. It has its own characteristics, values, certain icons, certain elements. And then it evolves with the times,” she told WWD.
For Kering, Bellettini’s move to Gucci is more than a reshuffle – it’s a bold statement of intent. And for the wider industry, her arrival sets the stage for one of the most closely watched reinventions in fashion today, offering a reminder that while Gucci may have stumbled, its capacity for reinvention remains as powerful as ever.
What Can Bellettini and Demna Bring to the Table?
Together, Francesca Bellettini and Demna represent one of the most intriguing leadership pairings in luxury today. Bellettini is known for her disciplined, numbers-driven approach, but also for her ability to empower creative visionaries without diluting their impact. At Saint Laurent, she created the conditions for bold design choices to flourish while simultaneously engineering one of the most remarkable financial turnarounds in recent memory.
Demna, meanwhile, is among the industry’s most provocative and agenda-setting designers. At Balenciaga, he redefined the conversation around streetwear, subverted the codes of luxury, and created viral cultural moments that resonated far beyond the runway. His appointment at Gucci signals a willingness to take risks, and paired with Bellettini’s steady hand, it could be the balance the brand has been missing.
If Bellettini brings structure, strategy, and global retail expertise, Demna offers cultural currency and disruptive creativity. For Gucci, this duality could be the formula for a renaissance – restoring its edge while sharpening its business fundamentals. Should the partnership succeed, it won’t just revitalise Gucci’s bottom line; it could redefine what it means to be a heritage house in the modern luxury era.
What Does It Mean for the Asian Consumer?
Asia has long been Gucci’s growth engine, from the bustling flagships of Tokyo and Seoul to the mega-stores of Shanghai and Hong Kong. But recent years have seen a shift: consumers across the region, particularly younger luxury buyers, are demanding sharper storytelling, cultural resonance, and a sense of exclusivity. With Bellettini’s proven ability to scale a brand without sacrificing desirability, and Demna’s track record for creating viral cultural moments, Gucci could be poised to reconnect with this audience.
In China, where luxury demand is increasingly shaped by digital innovation and social media, the duo’s challenge will be to re-establish Gucci as both aspirational and culturally relevant. Meanwhile, in Southeast Asia – an emerging growth hub – the brand has an opportunity to harness rising affluence with carefully curated retail experiences. For Asian consumers, Bellettini and Demna’s Gucci could mean a return to the kind of bold identity and cultural heat that once made the brand irresistible.
BurdaLuxury’s Lens
From where we stand, Gucci’s shake-up is about more than just fixing sliding sales – it’s about redefining its place in a hyper-competitive luxury landscape. Bellettini’s track record suggests she can bring discipline and long-term stability, while Demna offers the cultural provocation needed to capture attention in an era when virality often translates directly into demand.
This leadership duo could redefine how Gucci engages with its global audience. Balancing bold creative vision with strategic leadership will be key, and if Bellettini and Demna succeed, Gucci’s next renaissance could set a new benchmark for the brand worldwide.
