Kering appoints Luca de Meo as CEO in significant leadership reorganization in cosmetics industry

Kering unveiled major changes in its leadership structure, declaring Luca de Meo as its incoming CEO, set to commence duties on 15 September 2025 pending shareholders’ approval on 9 September. This transition springs from a recommendation by the Board of Directors, headed by François-Henri Pinault, who continues in his position as Chairman, formally segregating the roles of Chairman and CEO.

Pinault emphasized the necessity of this transition, asserting that after two decades of positioning Kering as a prominent luxury brand, the company is now poised for a new chapter of growth. De Meo’s extensive experience in leading global automotive companies spanning over 30 years affirms him as a seasoned industry expert, aligning with the company’s strategic evolution.

Prior to his new role, De Meo was at the helm of Renault Group and had various leadership responsibilities at Audi, Volkswagen, SEAT, and Fiat. His track record in rebranding and driving digital transformation positions him strategically to revive Kering’s approach across its fashion, leather goods, jewelry, and burgeoning beauty sectors.

De Meo expressed his eagerness and confidence in accepting this role, acknowledging the strength of the company’s brands and the competence of its personnel, affirming his commitment to advancing Kering’s presence in the luxury market. This transition occurs amidst challenging times in Kering’s fashion segment, evident in the first-quarter 2025 financials showing a 14% revenue decline, primarily attributed to a 25% decrease in revenue at its flagship brand, Gucci. Similarly, Saint Laurent experienced an 8% drop in revenue, influenced by market softness in Asia-Pacific and North America.

Contrastingly, Kering Beauté, the beauty division, witnessed a surge in sales, reporting a 6% growth driven by the popularity of Creed and excitement surrounding the forthcoming Balenciaga Beauty launch. Additionally, wholesale revenue in the beauty segment rose by 2%, illustrating its adaptability in a somewhat sluggish luxury industry.

De Meo’s appointment emerges as a pivotal move for Kering as it navigates these uncertain waters, setting the stage for future growth and development under his leadership. His strategic acumen and extensive industry experience position him as a catalyst for steering Kering into a new direction, aligning with its ambition to maintain a significant footprint in the luxury realm.