De meo shakes up kering: new leadership, store overhaul, and f1 ambitions
Luca de Meo’s arrival at Kering is already sending shockwaves through the luxury sector, and the company’s strategic pivot is becoming increasingly clear.
Strategic shifts: age limits raised, executive appointments, and a ‘reconkering’ vision
Just days before assuming the CEO role, Kering swiftly implemented a significant governance overhaul. The board approved a revised age limit for executive positions – now 80 for the CEO and 70 for the Chairman – signaling a deliberate move to unlock experience and potentially challenge traditional succession plans. This bold decision, backed by François-Henri Pinault, signals a desire for a more dynamic leadership structure.
Gucci’s turnaround: demna’s vision and a bold gamble
The pressure is squarely on Francesca Bellettiini and Demna to revive Gucci’s fortunes. While the brand has struggled recently, De Meo is clearly confident in the designer-CEO duo’s ability to execute. Demna's first collection in 2025 and show in February 2026 are seen as critical inflection points. The recent Times Square show, featuring Paris Hilton, Tom Brady, and Cindy Crawford, was deliberately conceived as a statement – a display of ambition that aligns with Gucci’s heritage, according to De Meo. It’s a calculated risk, and one he believes pays off.
Retail reinvention: stores as ‘italian embassies’
Kering’s “ReconKering” strategy is focused on a radical transformation of its retail footprint. Roughly two-thirds of its stores globally will undergo a complete refurbishment by 2030, with Gucci leading the charge. The goal? To elevate the perceived quality and reposition the brand – essentially transforming stores into immersive experiences reminiscent of Italian embassies. This includes dedicated jewelry spaces, particularly in flagship locations like the future Paris store on rue de Castiglione. The network will shrink to approximately 420 stores, prioritizing quality over quantity, with around 120 earmarked as true flagship destinations – showcasing the Boucheron collection, for example.
Beyond fashion: smart glasses and the alpine partnership
Kering’s eyewear division, generating €1.6 billion in 2025, is betting big on smart glasses, with a partnership with Google already in motion. De Meo is deliberately opaque about specifics, citing confidentiality, but he acknowledges significant market potential – dismissing the notion of a single product driving mass adoption. The ambition lies in leveraging Kering’s brand portfolio to capture a substantial share of this burgeoning market. And there's more: Kering is partnering with Alpine Formula One Team for the 2027 season, transforming the racing team into “Gucci Racing Alpine Formula One Team.” This goes beyond mere sponsorship; De Meo envisions a multifaceted engagement, leveraging the global reach of the F1 circuit to connect with clients and the press. It’s a deliberate move to tap into a new demographic and showcase the brand’s boldness – an investment that, according to De Meo, underscores the F1 landscape’s evolving status as a platform.
The scene at the AGM was predictably chaotic – a selfie frenzy between De Meo and Pinault, a testament to the energy surrounding this strategic shift. It’s a brand new era for Kering, and frankly, one that deserves attention.