De meo shakes up kering: new ceo signals bold bets on gucci, tech and racing
Luca de Meo’s arrival at Kering isn’t about incremental tweaks; it’s a calculated overhaul. Just nine months into his tenure, the former Renault boss is already reshaping the luxury giant’s strategy, and investors are taking notice.
Strategic shifts: from age limits to a racing debut
The shareholder meeting revealed a significant governance change: the lifting of the age restrictions for CEO and Chairman roles – a move signaling de Meo’s intent to bring a fresh, longer-term perspective. But the real revelations lay in the concrete actions being taken, particularly around Gucci and the group’s future investments.
Kering chair François-Henri Pinault painted a clear picture: de Meo’s early leadership is validating the board’s decision. The agenda centered on remuneration for de Meo himself, alongside the appointment of Laurent Kleitman, previously of Dior and Mandarin Oriental, to the board – a signal of expertise and a willingness to diversify thinking.
Gucci’s renaissance under demna and de meo
The spotlight remains firmly on Gucci, and the mood is decidedly optimistic. Despite past underperformance, de Meo is confident in the duo of Francesca Bellettiini and artistic director Demna. “The CEO–designer duo is one of the most experienced in the industry,” he stated, highlighting their proven track record. Demna’s upcoming September 2025 collection and February 2026 show are being viewed as pivotal moments, with de Meo emphasizing the need for “ambition” – a quality he believes is essential for Gucci’s resurgence. The Times Square show, featuring stars like Paris Hilton and Cindy Crawford, was a deliberate statement, a bold move to reassert the brand’s heritage and signal its appetite for risk.
A storehouse of change: refurbishment and a new retail vision
Beyond Gucci, Kering is embarking on a significant refurbishment program, aiming to overhaul two-thirds of its stores by 2030. A key element of this strategy is a shift towards experiential retail. De Meo envisions Kering’s stores as “like the Italian embassy in any city,” creating immersive environments that transport customers. The focus will also extend to jewelry, with dedicated spaces – starting with flagship locations – to showcase the brand’s expanding collection. Furthermore, Kering plans to reduce its store network to approximately 420 by 2030, with 120 designated as true flagship stores. The Paris flagship on rue de Castiglione, for instance, will embody this new concept, offering a taste of Italy within the city.
Smart glasses and the f1 connection
Looking beyond fashion, Kering’s eyewear division, generating €1.6 billion in 2025, is betting big on smart glasses. A partnership with Google to develop AI-powered eyewear represents a significant strategic alignment. De Meo remained tight-lipped about specific details, citing confidentiality agreements, but expressed significant confidence in the market’s potential, dismissing forecasts as “highly variable.” He envisions a future where smart glasses become ubiquitous, moving beyond niche applications. Meanwhile, Kering’s foray into Formula 1 through a partnership with Alpine Racing is more than just a sponsorship; it’s a strategic gateway to global reach. “It goes far beyond just putting a sticker on a car,” de Meo explained, highlighting the opportunities for client engagement and brand activation across 24 Grand Prix races. The LVMH move into F1 further underscores the platform’s growing importance.
As Pinault joked during the Q&A, “One share, selfie with Luca; two shares, with me,” encapsulating a modern, engaging approach to shareholder communication. Ultimately, de Meo’s strategy isn't about maintaining the status quo; it’s about aggressively reshaping Kering's future, one bold move at a time.”n