UPDATE: In a bold move to revitalize its brand strategy, Gucci has appointed Dario Gargiulo as its new Chief Client, Marketing, and Commercial Officer, effective immediately. This restructuring, confirmed by WWD, signals a significant shift towards a more client-centric approach under the leadership of Francesca Bellettini, who aims to enhance customer engagement and drive revenue growth.
Gargiulo, previously the CEO of Bottega Veneta in Greater China, will oversee all brand and commercial strategies across distribution channels and consumer interactions. His responsibilities include retail excellence, digital business, client services, and marketing communications. This reshuffle occurs less than six weeks after Bellettini took the helm, tasked with turning around Gucci amid a challenging luxury market.
The luxury sector is experiencing tough times, with Gucci reporting a 14 percent decline in organic sales for the three months ending September 30, surpassing the projected 16 percent drop. This decline follows a staggering 25 percent drop in the previous quarter, highlighting the urgent need for strategic change.
In addition to Gargiulo’s promotion, Gucci’s President for Europe, the Middle East, and Africa, Lomanto, will depart the company. Lomanto previously joined Gucci from Roger Vivier in 2022 and has played a critical role in brand management. Cayetano Fabry, the current Chief Commercial Officer, will step in to lead the EMEA region, bringing his insights on global and local market dynamics.
Bellettini is now Gucci’s fourth CEO in just two years, following the exit of Marco Bizzarri in September 2023. Bizzarri was instrumental in growing Gucci’s revenues to nearly €10 billion, collaborating closely with designer Alessandro Michele. Bellettini, formerly Kering’s Deputy CEO and renowned for her success at Saint Laurent, now faces the daunting task of steering Gucci through these turbulent waters.
The shake-up comes at a pivotal time for the luxury brand, emphasizing the need for innovation and a comprehensive understanding of consumer needs. As Gargiulo takes on this expansive role, all eyes will be on Gucci to see how these changes impact brand perception and financial recovery in the coming months.
Stay tuned for more updates as Gucci navigates this critical transformation.
