Kering names Cedric Charbit CEO of Saint Laurent
1:40 pm Monday, November 18th, 2024
PARIS (Reuters) -French luxury group Kering said on Monday it had named Cedric Charbit as CEO of fashion house Saint Laurent, choosing a leader for its second largest fashion label from within its ranks.
He replaces Francesca Bellettini, who has also been group deputy CEO since last year, overseeing brand development, including jewellery labels.
Charbit, currently chief executive of smaller fashion label Balenciaga, also owned by Kering, will be replaced by Gianfranco Gianangeli.
The executives take up their positions on Jan. 2, reporting to Bellettini, Kering said in a statement.
“These evolutions further reinforce our organisation,” said Kering Chairman and CEO François-Henri Pinault, noting Bellettini would now be able to focus on her deputy CEO role.
Kering has undergone a sweeping overhaul in recent months, reshuffling the upper management of the company as it seeks to revive sales growth at its star label Gucci, which fell behind rivals during the pandemic and is struggling to regain traction amid an industry slump.
Last month, the group named Stefano Cantino CEO of Gucci after an interim period in which it was run by Jean-Francois Palus, Pinault’s longtime right-hand man.
Charbit has been CEO of Balenciaga for eight years, and worked at Saint Laurent before that.
Gianangeli, formerly CEO of Maison Margiela, has been chief commercial officer for Saint Laurent since last year.
(Reporting by Mimosa Spencer, additional reporting by Nathan VifflinEditing by Tomasz Janowski and David Evans)
