Gucci has announced the addition of a new key executive to round out its front-line management team as the company repositions itself. Stefano Cantino, formerly of Louis Vuitton, has been hired by Kering’s flagship label to fill the newly-created position of deputy CEO, assisting CEO Jean-François Palus. Palus became Gucci’s creative director last fall, while Sabato de Sarno has been at the helm since early 2023, following the renowned Alessandro Michele.

Starting May 2, 2024, Stefano Cantino will report directly to Jean-François Palus in his new role. According to the French luxury business, he will be working alongside Jean-François Palus in this newly created role, which is responsible for developing and executing the brand’s strategy.

After Marco Bizzarri was fired in July 2023, Gucci’s CEO since 2015, Jean-François Palus was appointed to the position “for a transitional period” last summer by Kering. Palus was a close associate of top boss François-Henri Pinault and the company’s former deputy CEO. Then, their intentions shifted. During the annual results publication in February, Jean-François Palus was officially confirmed as captain, and the company made it clear that they were not currently recruiting for CEO.

It appears that a new setup has been put in place to hasten Gucci’s relaunch, thanks to the entrance of this renowned Italian manager who specializes in high-end items. The role of senior vice president overseeing communications and events at Louis Vuitton has been his since 2018. After earning a degree in politics from Turin University, he began working for Prada in 1997 and has since risen through the ranks, assuming more and more responsibility. His most recent four-year tenure was as director of marketing, communications, and development, which he completed in 2018.

His diverse skill set, extensive background working at senior levels in the luxury market for a variety of companies, ability to think strategically, and appreciation for the arts all combine to make him an invaluable member of our team. Jean-François Palus made the observation that Stefano will execute the company-wide action plans in close collaboration with him, me, and the entire Gucci team.

An additional step in fortifying the legendary Florentine house is the appointment of Stefano Cantino as Deputy CEO of Gucci. In addition to Sabato’s creative strength and Jean-François’ strong leadership, his vast expertise in strategic roles within leading luxury brands will be an asset, said Francesca Bellettini, Deputy Managing Director of House Development at Kering.

Just before this appointment, Kering said that Gucci’s sales for the first quarter of 2024 are projected to be “down by almost 20%” and the company’s turnover to be “around 10%” lower. Half of the group’s sales and two-thirds of operating profitability come from the Italian brand, making its recovery all the more crucial.