Kering Announces Executive Changes at Saint Laurent and Balenciaga

In a strategic shift within its portfolio, Kering has unveiled significant leadership transitions at Saint Laurent and Balenciaga, set to take effect on January 2. Cédric Charbit, who has been the CEO of Balenciaga since 2016, will take the helm at Saint Laurent. Succeeding him at Balenciaga will be Gianfranco Gianangeli, the current Chief Commercial Officer at Saint Laurent.

This change marks a return for Charbit to Saint Laurent, where he previously served as the Executive Vice President of Product and Marketing before his tenure at Balenciaga. His leadership at Balenciaga was marked by notable growth and navigating the brand through various challenges, indicating a seasoned approach to steering major fashion houses through evolving market conditions.

Meanwhile, Gianangeli brings a diverse background from his time leading Maison Margiela and his family’s knitwear manufacturing business, coupled with significant roles at Givenchy and Prada. His broad experience in retail and merchandising will be vital as he steps into his new role at Balenciaga, where he is expected to continue the brand’s expansion and elevate its global reputation.

These appointments come at a critical time when the luxury market faces a slowdown, particularly in China, and global economic pressures like inflation and high interest rates affect consumer spending. Kering’s leadership restructuring aims to leverage the extensive experience of Charbit and Gianangeli to drive growth and address these challenges effectively.

As Francesca Bellettini focuses on her role as Kering’s deputy CEO in charge of brand development, the reshuffle is part of a broader strategy to fortify the company’s position in the luxury sector and ensure sustained growth across its distinguished brands. Kering’s proactive leadership adjustments reflect its commitment to maintaining the distinctive identities and heritage of its brands while navigating through current market dynamics and preparing for future opportunities.