Cédric Charbit, after an eight-year leadership stint at Balenciaga, returns to Saint Laurent as CEO, marking a significant reshuffle within Kering’s luxury brands.
- Charbit previously held a senior role at Saint Laurent, making his return notable as he takes over CEO responsibilities on January 2, 2025.
- Gianfranco Gianangeli, known for his leadership at Maison Margiela, will succeed Charbit as CEO of Balenciaga, reinforcing Kering’s strategic leadership transitions.
- Both leaders will report directly to Kering’s Deputy CEO, Francesca Bellettini, ensuring a cohesive strategy across the luxury houses.
- This executive shuffle comes amid a challenging financial period for Kering, with a notable decrease in revenue and operating income.
Cédric Charbit is set to return to Saint Laurent as its CEO after leading Balenciaga for eight years. This move sees Charbit come back to a familiar brand where he once served as executive vice-president of product and marketing from 2011 to 2016. Charbit’s return is scheduled for January 2, 2025, and it underscores a shift in leadership for one of Kering’s prominent luxury labels.
During his illustrious 25-year career, Charbit has held significant roles within the luxury fashion industry, including time at Emilio Pucci and French department store Printemps. His expertise is expected to guide Saint Laurent through its current market challenges.
Meanwhile, Gianfranco Gianangeli is poised to step into the CEO role at Balenciaga. Prior to taking on this role, Gianageli was the CEO of Maison Margiela from 2020 to 2023, bringing with him extensive experience in managing luxury brands. His leadership will be pivotal as Balenciaga navigates its future amidst industry shifts.
Both Charbit and Gianangeli will report to Francesca Bellettini, Kering’s deputy CEO. Bellettini has expressed confidence in their abilities, emphasizing the depth of her professional relationship with both leaders and her belief in their potential to drive success for their respective brands. “I am certain they will excel in their new roles, guiding their respective houses toward even greater success,” stated Belletini.
Kering’s decision to implement these leadership changes comes at a time of financial difficulty. The company’s revenue, as of the first half of 2024, dropped by 11% compared to the previous year, and operating income saw a decline of 42%. These figures highlight the pressing need for strategic leadership to revitalize the brands under its portfolio.
The recent leadership changes at Saint Laurent and Balenciaga aim to steer the brands through challenging financial times and towards further success.
