Luca de Meo could replace François-Henry Pinault at Kering

The luxury industry could be about to undergo one of the most significant changes in recent years.

As reported by the French newspaper Le Figaro, Luca de Meo -current CEO of Renault and a key figure in the transformation of the French carmaker- is ready to change the paradigm of one of the most important luxury conglomerates. Yes, we are talking about the group that controls the movements of Gucci, Saint Laurent, Balenciaga and Bottega Veneta, among others.

The Italian could thus take the place of François-Henri Pinault as CEO of Kering, in a strategic move that challenges the traditional leadership profile within the sector. De Meo has confirmed that he will step down from his role at Renault in mid-July, and although he declined to reveal further details about his immediate future, rumours have been swirling. And the last-minute cancellation of an expected Kering meeting with financial analysts – scheduled for today, 16 June – has only added fuel to the fire.

The whole situation comes at a crucial time for the conglomerate, which is in turmoil: sales have fallen, profitability is diluted and shares have plummeted more than 60% in just two years. Will Luca be able to save Kering?