The French luxury company KERINT, the parent company of Saint Laurent and Gucci, gets the new CEO, Luca de Meo. Surprisingly, he is not ready to wear, but rather an old carrier in the auto industry.
De Meo, 58, has been leading the French Renault Group since 2020.
Francois Henry Pinolt and the heir of King decided to give him the role of CEO while he was the Chairman of the Board. PINALT decided that he needed an expert turning in contrast to the fortunes of Gucci and St. Laurent. Gucci sales decreased by 21 % in 2024, and the direction of 2025 follows the same path. De Meo, known for its ability to revive the brands of cars, will have to apply his secret sauce to ready -to -wear companies.
During his more than 30 years of car, he had leadership roles in Renault, Toyota, Fiat, and Volkswagen. DE Meo is attributed to FIAT by re -launching FIAT 500 in 2007. He is also responsible for Renault’s transformation.
De Meo, a multi-language executive-speaking Italian, French, English, German and Spanish-established PINAULT with his ability to manage an international group during difficult times. It is seen as from the outside by the Wall Street analysts, will be able to process the King’s fragility. The group has lost 2.5 billion euros (about $ 2.9 billion) in revenues in the past 12 months, and its operating margin has been reduced from 24.3 % in 2023 to 14.9 % by the end of 2024.
Chinese customers buy less, and can display the American delicious tariff for the KERING -Gucci and ST. Laurent, Balenciaga and Bottega Veneta. The DE Meo road map includes success closing of the ineffective stores and reducing debts of 10.5 billion euros.
When De Miu Renault left, the CEO said he wanted “new adventures.” His salary may also be a worker, because the French state is a partial owner of Renault and is known to provide smaller compensation packages compared to the private sector.
