Kering Announces Leadership Changes At Saint Laurent And Balenciaga

Kering announces the appointment of Cédric Charbit as CEO of Saint Laurent and Gianfranco Gianangeli as CEO of Balenciaga, effective January 2, 2025. Both will report to Francesca Bellettini, Kering Deputy CEO in charge of Brand Development.

Balenciaga. Image Source: www.kering.com

Kering unveils key leadership changes at two of its luxury fashion brands, Saint Laurent and Balenciaga. The French fashion group has announced that effective January 2, 2024 Cedric Charbit will helm Saint Laurent and Gianfranco Gianangeli will be CEO of Balenciaga. The new leadership structure is designed to enhance the luxury brands’ growth trajectories with a renewed focus on creativity, business and global expansion.

“I am proud to announce the appointment of Cédric as CEO of Saint Laurent. With his profound understanding of the House and of its unique identity, Cédric is exceptionally prepared to drive the continued growth and success of Saint Laurent. Equally, I am confident that Gianfranco is the ideal leader to succeed Cédric as CEO of Balenciaga. Gianfranco’s extensive expertise and vision make him the perfect choice to further elevate the House and build on its remarkable achievements”, said Francesca Bellettini.

François-Henri Pinault, Chairman and CEO of Kering, expressed confidence in the new leadership: “With Francesca Bellettini fully dedicated to her role as Kering Deputy CEO in charge of Brand Development, including the Jewellery Houses, and Jean-Marc Duplaix – whose role, as Kering Deputy CEO and Chief Operating Officer, is to ensure that all corporate departments work together efficiently and support all brands to achieve Kering’s strategic goals – we have the right leadership team in place to address current industry challenges and set the pace for long-term growth.”

Cédric Charbit to lead Saint Laurent

Cédric Charbit began his career at Printemps in 2001, where he held different positions before becoming Deputy Director and General Merchandising Manager. In 2009, he was appointed Deputy Chief Executive of Pucci, part of the LVMH group. In 2012, Cédric joined Saint Laurent in Paris as Product Strategy Director and later became Executive Vice President. In 2016, he was appointed President and CEO of Balenciaga, where he expanded the luxury fashion brand’s presence and relaunched its Haute Couture.

At Saint Laurent, Charbit faces the challenge of leading one of Kering’s most important brands, known for its timeless appeal and cutting-edge fashion. Yves Saint Laurent’s recurring operating income was €316 million in the first half of 2024 and its recurring operating margin was 22 percent, as the House continues to invest in its communications and clientele initiatives. Charbit’s task will be to further develop the Parisian House, building on its unique positioning, heritage, and identity.

Gianfranco Gianangeli to helm Balenciaga

Gianfranco Gianangeli began his career at Bottega Veneta in 2006. He held different roles in merchandising leading to Merchandising Director of Men’s categories and then General Merchandising Manager in Japan. In 2011, he was appointed Associate International Director at Prada, before joining Givenchy in 2013 as Global Retail Director. In 2017 he became CEO of his eponymous brand Gianangeli Srl though within three years he again switched tracks to become CEO of Maison Margiela.

In September 2023, Gianfranco Gianangeli joined Saint Laurent as Chief Commercial Officer. Now succeeding Cédric Charbit at the helm of Balenciaga, Gianangeli’s task will be to strengthen and expand the maison’s reach. He has a rich brand heritage and revenues to build on. Sales from Balenciaga’s directly operated retail network were unchanged in the first half of 2024 on a comparable basis, attributable to reinvestment in communications.

Kering sets ambitious growth trajectory

Saint Laurent. Image Source: www.kering.com

Kering is developing its Houses so that they continuously strengthen their desirability and the exclusivity of their distribution, strike a perfect balance between creative innovation and brand heritage, and achieve the highest standards in quality, sustainability, and experience for their customer.

In 2023, Kering had 49,000 employees and revenue of €19.6 billion. With a deep commitment to innovation, sustainability, and brand heritage, it is perfectly positioned to continue lead luxury fashion as it manages the development of its iconic brands lGucci, Saint Laurent, Bottega Veneta, Balenciaga, Alexander McQueen, Brioni, Boucheron, Pomellato, DoDo, Qeelin, Ginori 1735, Kering Eyewear and Kering Beauté. As Charbit and Gianangeli step into their new roles, the fashion industry will be studying how their leadership shapes the future of Saint Laurent and Balenciaga—and Kering’s luxury portfolio.

The restructuring of Kering’s leadership also aligns with the company’s broader commitment to sustainability. Following its updated science-based target in 2021, Kering takes another significant step to strengthen the Group’s climate ambitions and help deliver a net-zero economy. Kering has committed to reach net-zero greenhouse emissions across its value chain by 2050, and to do so, has set ambitious near- and long-term Group-wide emissions reduction targets in line with climate science and the Science Based Targets initiative net-zero criteria.