Kering is close to appointing Francesca Bellettini as the next CEO of Gucci, succeeding Stefano Cantino, with an announcement expected soon. This decision is a key move by new Kering CEO Luca de Meo, who aims to turn around the luxury group after a challenging start to the year.

Bellettini, currently Kering’s deputy CEO for brand development, played a crucial role in selecting Demna as Gucci’s new creative director. She aims to revitalize the brand and is known for growing Saint Laurent’s business significantly during her tenure.

Cantino, who took over as Gucci’s CEO in January, is restructuring the team to enhance the brand’s appeal and navigate the uncertain global landscape. Despite efforts to boost sales, Gucci saw a 25 percent decline in organic sales in the second quarter.

Cantino brought his vast experience in communications and merchandising to Gucci from Louis Vuitton, where he led communications and retail events. His previous roles at Prada involved various business development and marketing responsibilities, working closely with industry leaders.

Kering has undergone significant changes under Bellettini’s leadership, with new creative directors and CEOs appointed across different brands. This strategic reshuffle aims to strengthen Kering’s position in the luxury market and drive growth across its portfolio of brands.

Read more at Yahoo Finance: Francesca Bellettini Expected to Take Helm of Gucci: Sources