Gucci names new deputy CEO as Kering seeks to stem sales decline
The Peninsula
Paris: Gucci appointed a new deputy chief executive on Thursday as the Italian fashion house, part of the luxury group Kering, tries to turn around sl...
Paris: Gucci appointed a new deputy chief executive on Thursday as the Italian fashion house, part of the luxury group Kering, tries to turn around sliding sales.
Gucci said Stefano Cantino would join the company at the beginning of May with the job of aiding CEO Jean-François Palus "define and implement the brand strategy".
Longtime the growth motor for Kering, Gucci has stalled in recent months.
Sales slid six percent in 2023 and it recently warned they are likely to have fallen nearly 20 percent in the first quarter of this year.
Gucci, a brand famous for its leather handbags, accounts for half of Kering's revenue.
