Kering’s Reshuffle Continues with Strategic Leadership Changes at Saint Laurent and Balenciaga

The leadership reshuffle at Kering continues, with significant changes at two of its prominent fashion houses. On Monday, Kering announced that Cédric Charbit, currently CEO of Balenciaga, would succeed Francesca Bellettini as CEO of Saint Laurent. In turn, Gianfranco Gianangeli will take over from Charbit as the new CEO of Balenciaga. Both Charbit and Gianangeli will report to Bellettini, who serves as Kering’s deputy CEO overseeing brand development. Kering clarified that Bellettini’s focus will now exclusively be on the development of all Kering’s fashion, leather goods, and jewelry brands. These changes are set to take effect on January 2, 2025, coinciding with the appointment of Stefano Cantino as the new CEO of Gucci.

Bellettini expressed her confidence in Charbit’s ability to lead Saint Laurent, citing his deep understanding of the brand’s unique identity. She also emphasized that Gianangeli’s extensive expertise made him a fitting successor at Balenciaga, praising both leaders’ track records and familiarity with the company. Having worked closely with Charbit and Gianangeli over the years, Bellettini conveyed certainty that they were the ideal choices for their respective roles.

Bellettini’s influence at Saint Laurent has been substantial since she took charge in 2013. She brought Anthony Vaccarello onboard as creative director in 2016, and under her leadership, the brand’s sales surged from €557 million in 2013 to €3.2 billion in 2023. In September 2023, she was appointed Kering’s deputy CEO in charge of brand development, in addition to her leadership at Saint Laurent. Gianangeli, who assumed the role of Chief Commercial Officer at Saint Laurent in September 2023, previously served as CEO of Maison Margiela from 2020 to 2023.

The leadership handover comes as Kering navigates a challenging period, particularly at Gucci, which is undergoing a strategic turnaround. At the same time, Saint Laurent has faced difficulties, with sales falling 9% in the first nine months of 2024 to €2.11 billion.

Charbit’s move to Saint Laurent marks a return to the brand where he previously held several roles, starting in 2012 as product strategy director. He later became merchandising director and, in May 2016, was promoted to executive vice president of products and communications. In November 2016, he transitioned to Balenciaga as CEO, where he led a revitalization of the brand. During his tenure, Balenciaga re-entered the couture market in 2020 and saw a sharp rise in revenue, increasing from €410 million in 2016 to €2.13 billion in 2022, as estimated by Morgan Stanley. However, 2022 brought challenges, including a controversy that impacted sales, particularly in the US, causing revenues to dip to €1.82 billion in 2023. To counter this, the brand implemented a strategy focused on high-end handbags, expanded its retail presence, and targeted growth in China, highlighted by a notable Shanghai resort show in 2025.

Kering’s chairman and CEO, François-Henri Pinault, emphasized that with Francesca Bellettini now fully devoted to her role as Kering’s deputy CEO, and Jean-Marc Duplaix, the other deputy CEO and COO, overseeing operational efficiency across brands, the company has a leadership team equipped to tackle industry challenges and drive long-term growth.

Have you read?
Best Fashion Schools.
Best Universities.
Best Medical Schools.
Best International High Schools.
Countries: Most Female Billionaires.