There is no doubt that Luca de Meo, chief executive officer of Kering SA, has made a strong start at the owner of Gucci, Saint Laurent and Balenciaga. Since taking the helm in September he has tackled the group’s stretched balance sheet, shaken up management and introduced a new organizational structure.

Now the hard work really starts: rebuilding sales by capturing share from rivals and at least doubling the company’s operating margin from its 2025 level of 11%.

© Bloomberg