First Mulberry, then Burberry, and now Gucci – reshuffles at the very top of luxury businesses are definitely in vogue. Gucci, owned by Kering, has announced the appointment of Stefano Cantino as its new chief executive.

Kering has appointed Stefano Cantino as CEO of Gucci, reporting to Francesca Bellettini, deputy CEO of Kering in charge of brand development.

The move comes as Kering seeks to reduce Gucci’s reliance on seasonal designs and younger, less affluent customers, and focus on higher-spending, aesthetically conservative customers.

Kering, the parent company of Gucci, has appointed Stefano Cantino as the new CEO of its flagship brand at a time when both Gucci and the broader luxury sector are facing significant challenges. Cantino,

Cantino, who joined Gucci in May as deputy CEO, will have a seat on Kering's executive committee. Palus had been appointed CEO of Gucci in July 2023 and is Kering chairman and CEO