Andrea Felsted, Columnist

Can an Ex-Auto CEO Get Kering’s Gucci Back in the Race?

April 17, 2026 at 4:00 AM UTC

Andrea Felsted is a Bloomberg Opinion columnist covering consumer goods and the retail industry. Previously, she was a reporter for the Financial Times.

Vroom, vroom
Photographer: Daniele Venturelli/Getty Images Europe

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There is no doubt that Luca de Meo, chief executive officer of Kering SA, has made a strong start at the owner of Gucci, Saint Laurent and Balenciaga. Since taking the helm in September he has tackled the group’s stretched balance sheet, shaken up management and introduced a new organizational structure.

Now the hard work really starts: rebuilding sales by capturing share from rivals and at least doubling the company’s operating margin from its 2025 level of 11%.