De meo shakes up kering: new leadership, bold bets on fashion and tech
Luca de Meo’s arrival at Kering is already sending ripples through the luxury sector, and a recent shareholder meeting revealed a clear strategy for the coming years – one that’s both ambitious and, frankly, a little disruptive.
Rebooting a conglomerate: a new era for kering
Just days before stepping into his role as CEO, Kering swiftly approved a significant governance shift: raising the age limits for executive leadership to 80 and 70, respectively. This immediately signals a willingness to challenge tradition and embrace a more dynamic approach to succession. The subsequent shareholder meeting confirmed de Meo’s early moves, focusing on bolstering the group’s executive team and outlining his ‘ReconKering’ strategy.
François-Henri Pinault, Kering’s chairman, was unequivocal: “I can tell you that these first nine months spent with Luca fully validate the governance choices we made.” The agenda centered around de Meo’s remuneration package – a considerable sum, reflecting the scale of the task ahead – and the appointment of Laurent Kleitman, formerly of Christian Dior, and Marie-Hélène Chenut, to the board. A strong signal of the direction Kering intends to take.
Gucci’s reinvention – and beyond
Central to de Meo’s plan is a dramatic overhaul of Gucci, a brand that’s been grappling with underperformance in recent years. Pressure is mounting on CEO Francesca Bellettiini and artistic director Demna to deliver a turnaround. Demna’s first collection in September 2025 and a debut runway show in February 2026 will be closely scrutinized. De Meo, however, remains confident: “The CEO–designer duo is one of the most experienced in the industry. They have built businesses.” He highlighted the impact of the House’s recent resort 2027 show in Times Square – a bold, deliberately provocative statement that, according to de Meo, “showed this level of ambition” and was “good because it was a statement.”
“I thought it was good because it was a statement,” de Meo stated, citing Paris Hilton, Tom Brady, and Cindy Crawford walking the runway. “And I think Gucci needed to show this level of ambition because it’s consistent with the brand’s history. The fact that they did something like this makes me optimistic. Before you can do something great, you need to have the ambition to do it. And from a technical standpoint, I thought it was very well done.”
Strategic shifts: stores, jewelry, and the future of luxury
The ‘ReconKering’ strategy also encompasses a significant store refurbishment program, targeting two-thirds of Kering’s locations by 2030 – with Gucci receiving a disproportionately high focus. The revamped store concept, de Meo explained, will “raise the perceived level of quality” and reposition Gucci as it deserves. A reduction in the store network from 600 to around 420 is planned, with approximately 120 flagship stores representing the new standard. Crucially, these stores will dedicate space to luxury jewelry, reflecting Kering’s ambitions in that category. The flagship Paris location on rue de Castiglione will embody this vision – a ‘Gucci embassy’ designed to immerse customers in the brand’s Italian heritage.
Beyond retail, Kering is betting big on technology, particularly smart glasses. A partnership with Google to develop AI-powered eyewear represents a potentially transformative investment. “I’m limited by the confidentiality constraints we have with Google,” de Meo noted. “We see significant potential. There are different market estimates out there, but they vary widely, so I wouldn’t venture into forecasts about the size of this market. What I can say is that it won’t remain a niche segment — it could become significant.”
Alpine racing: more than just a sponsorship
And, of course, de Meo’s former experience with Renault is informing Kering’s recent partnership with Alpine Formula One Team. Rather than a simple logo placement, de Meo envisions a multifaceted engagement, leveraging the global reach of the racing circuit. “It goes far beyond just putting a sticker on a car,” he commented. “We can do lots of things within the ecosystem. We have many opportunities to invite clients and the press, and to involve them in the story.” The deal, alongside LVMH’s own investment in F1, underscores the growing recognition of motorsports as a premium platform. “We’ll be on the track,” de Meo concluded with a smile, “The fact that LVMH is a partner really shows that F1 has become a platform.”