Luxury group Kering has named Stefano Cantino as CEO of Gucci, replacing Jean-François Palus as of 1 January 2025.
Cantino joined Gucci in May as Deputy CEO following five years at Louis Vuitton, where he oversaw Communications and Image.
Prior to this, he spent 20 years at the Prada Group in positions of increasing responsibility in marketing and commercial, culminating in his role as Director of Communications and Marketing.
“I am confident that, building on what has been set up over the past 15 months, Stefano and the team will succeed in the mission to take Gucci back to the leadership the brand deserves,” said Francesca Bellettini, Deputy CEO of Kering.
Cantino succeeds Jean-François Palus, who was appointed as CEO in July 2023 with the main goal to “set up the foundations” of Gucci’s next chapter and hire key talents, including his successor.
François-Henri Pinault, Chairman and CEO of Kering, said: “I thank Jean-François for his achievements at the helm of Gucci.
“Over a particularly challenging period, he made the courageous decisions the House needed, and built sound foundations for a renewed Gucci to flourish again under the stewardship of Stefano.”
Earlier this year, Kering revealed that its revenue was down by 11% to £7.5 billion (€9 billion) for the first half of 2024, following a failed attempt at revitalising its star brand Gucci – which reported an 18% decrease in sales to £3.4 billion (€4.1 billion).
The group also said its recurring operating income fell by 42% and its net income totalled £738 million (€878 million).
