Kering has announced significant leadership changes within its luxury brands, Saint Laurent and Balenciaga.
- Cédric Charbit will return to Saint Laurent as CEO, a position he previously held in a different capacity.
- Gianfranco Gianangeli is appointed as the new CEO of Balenciaga, succeeding Charbit.
- These leadership changes come amidst a challenging period for Kering with reported revenue declines.
- The reshuffle indicates a strategic move by Kering to bolster its luxury brands.
Kering, a prominent name in the luxury fashion industry, has made notable changes to its executive leadership. Cédric Charbit is set to return to Saint Laurent as CEO, effective from 2 January 2025. Charbit, who has a rich history with Saint Laurent, previously served as the executive vice-president of product and marketing from 2011 to 2016. After leaving Saint Laurent, he took over as CEO of Balenciaga, replacing Isabelle Guichot.
Charbit’s fashion career spans 25 years, during which he has held significant positions at luxury labels including Emilio Pucci and the French department store Printemps. His return to Saint Laurent is seen as a strategic move to leverage his extensive experience and past association with the brand.
Replacing Charbit at Balenciaga is Gianfranco Gianangeli. Before joining Saint Laurent in 2023 as chief commercial officer, Gianangeli was at the helm of Maison Margiela under OTB Group from 2020 to 2023. His appointment as CEO of Balenciaga is expected to bring a fresh perspective and leadership to the brand.
Both Charbit and Gianangeli will report to Francesca Bellettini, Kering’s deputy CEO, who expresses confidence in their abilities to steer their respective brands toward success. She stated, “Having had the privilege of knowing and working closely with both Cédric [Charbit] and Gianfranco [Gianangeli] for many years, I have no doubts they are the best choices to take the helm of Saint Laurent and Balenciaga.”
These changes in leadership align with Kering’s broader strategy of revitalising its luxury brands during financially challenging times. Recent reports indicate that Kering’s revenue fell by 11% in the first six months of 2024, reflecting a broader slowdown in the luxury sector. Despite this, the company appears committed to steering its brands back to growth with these strategic appointments.
Kering’s leadership changes at Saint Laurent and Balenciaga signal a focused strategy to navigate current challenges and drive future success.
