URGENT UPDATE: Major restructuring at Gucci as Dario Gargiulo, former CEO of Bottega Veneta in Greater China, is appointed as the brand’s new chief client, marketing, and commercial officer. This critical move comes just weeks after Francesca Bellettini took charge as CEO, signaling a decisive shift towards a more client-centric strategy.
Gargiulo will spearhead Gucci’s brand and commercial strategy across all channels, focusing on enhancing customer experiences and maximizing revenue growth. His new responsibilities will encompass retail excellence, digital business, client services, and marketing operations. This restructuring is crucial as Gucci faces a challenging luxury market, where organic sales fell by 14 percent in the latest quarter, surpassing expectations of a 16 percent decline.
The management shake-up follows the recent departure of Gucci’s president for Europe, the Middle East, and Africa, Lomanto, who joined the company in 2022. Meanwhile, current chief commercial officer Cayetano Fabry will take over Lomanto’s role, further emphasizing the brand’s commitment to adapting in a tough economic climate.
Bellettini, known for her successful tenure at Saint Laurent, steps into a challenging position as Gucci’s fourth CEO in just two years. She aims to reverse the brand’s declining fortunes after the exit of Marco Bizzarri, who oversaw a period of substantial revenue growth.
Gargiulo’s impressive background includes roles at Diesel and a significant 12-year stint at Heineken, where he held various marketing positions. His experience is expected to be pivotal in repositioning Gucci as a leading luxury brand amidst shifting consumer preferences and fierce competition.
Industry analysts are closely watching these developments as Gucci endeavors to reclaim its status in the luxury market. The next few months will be critical for the brand, with expectations for new strategies to be unveiled that may reshape the retail landscape.
Stay tuned for further updates on this developing story as Gucci navigates its ambitious turnaround plan.
