Kering Eyes Renault CEO Luca de Meo to Revitalize Gucci

Luca de Meo, the current CEO of Renault, is reportedly being considered by Kering, the parent company of Gucci, to lead the luxury brand. This move would mark a significant shift for de Meo, who has spent over 30 years in the automotive industry. De Meo's potential appointment comes at a critical time for Kering, as the company faces challenges with its core brand, Gucci, which has seen a decline in performance and market share.

De Meo's extensive experience in the automotive sector, including his roles at Fiat, Toyota, Volkswagen, Seat, and Renault, has earned him a reputation as a brand revitalization expert. His tenure at Renault has been marked by efforts to reform the company's long-standing alliance with Nissan and to transition towards electric and hybrid vehicles. De Meo's potential move to Kering would be part of a broader trend in the luxury industry, where companies are increasingly looking to executives from outside the sector to bring fresh perspectives and operational expertise.

Kering's interest in de Meo follows a pattern of hiring executives from diverse backgrounds. In 2004, the company appointed Robert Polet, who had previously worked at Unilever, as the CEO of Gucci. Polet's tenure was marked by a significant increase in profits, demonstrating the potential benefits of bringing in executives from different industries. Similarly, Chanel recently appointed Leena Nair, a human resources executive from Unilever, as its global CEO, further highlighting the luxury industry's shift towards valuing systemic thinking and cross-industry execution.

Kering's history of strategic acquisitions and transformations has positioned it as a leader in the luxury sector. Founded by François Pinault in the 1960s as a timber trading company, Kering has evolved through a series of acquisitions and business transformations. Under the leadership of François-Henri Pinault, the company has expanded into high-end luxury brands, including Gucci, Yves Saint Laurent, and Balenciaga. The potential appointment of de Meo would continue this tradition of strategic hiring and transformation, as Kering seeks to revitalize its core brands and adapt to a changing market landscape.

De Meo's potential move to Kering is part of a broader trend in the luxury industry, where companies are increasingly looking to executives from outside the sector to bring fresh perspectives and operational expertise. This trend reflects a shift away from the traditional focus on creative leadership and towards a more systemic and commercially focused approach to management. As Kering continues to navigate the challenges of a competitive and rapidly changing market, the potential appointment of de Meo would be a significant step in its ongoing transformation and evolution.