De meo’s gamble: kering bets big on gucci, smart glasses, and a formula one future
Luca de Meo’s arrival at Kering has ignited a flurry of activity, signaling a decisive shift in strategy and a bold reimagining of the luxury group’s portfolio. Forget incremental adjustments – this is a calculated overhaul, and early signs point to significant disruption.
Reckoning with gucci, and a bold new direction
The pressure on Francesca Bellettiini and Demna to revive Gucci has been immense, and de Meo’s confidence in their ability to deliver is palpable. The recent Times Square show, dubbed a “statement,” wasn’t just a spectacle; it was a deliberate provocation, a clear indication that Kering intends to operate on a different plane. Paris Hilton, Tom Brady, and Cindy Crawford strutting the runway weren't mere attendees—they were carefully curated symbols of a new, aspirational Gucci. This isn’t about nostalgia; it’s about aggressively asserting the brand’s legacy.
But it’s not just about the spectacle. De Meo’s commitment to refurbishing two-thirds of Kering’s stores by 2030, with a particular focus on Gucci, speaks volumes. The goal? To elevate the perceived quality, essentially transforming Kering’s retail spaces into miniature Italian embassies – a concept he clearly believes is crucial to the brand’s identity.
Beyond the runway: tech and racing
Yet, de Meo's vision extends far beyond the catwalk. Kering’s foray into smart glasses, fueled by a partnership with Google, represents a calculated bet on the future of wearable technology and personal identity. He dismisses the notion of a mass-market adoption, arguing that the potential lies in brand integration—a constellation of fifteen brands collaborating to shape the aesthetic and functionality of these devices. It’s a high-risk, high-reward strategy, but one that aligns with Kering’s history of disrupting established norms.
The alliance with Alpine Formula One Team – a move that goes far beyond a simple sponsorship – is equally strategic. “We’ll be on the track,” he declared with a wry smile, acknowledging the complexity of activating across 24 Grand Prix races on five continents. De Meo’s familiarity with the Renault ecosystem, honed during his previous tenure, is a significant advantage. And the presence of brands like Louis Vuitton, Tag Heuer, and Moët Hennessy alongside Gucci in the paddock signals a broader recognition of F1’s increasingly valuable position as a global marketing platform.
The partnership with LVMH, a move that demonstrates the market’s growing appetite for luxury brands in motorsport, further solidifies Kering’s ambitious approach. Let’s be clear: this isn’t about slapping a logo on a car; it’s about leveraging a brand’s global reach and cultural cachet to connect with a discerning audience.
The numbers tell the story. Kering’s eyewear division, generating €1.6 billion in 2025, demonstrates the potential of this sector. And the planned reduction in Gucci’s store network – from 600 to 420 – reflects a strategic shift towards a more curated, exclusive experience. With flagship stores like the future Paris location designed to mimic the ambiance of an Italian embassy, Kering is aiming to create a sensory experience that transcends mere retail.