Can a car guy save Kering? Luca de Meo steps into fashion’s toughest role

When Luca de Meo clocks in as CEO of Kering this September, just days before Milan Fashion Week, it won’t be to tweak a machine humming along smoothly. Instead, the man who breathed new life into automotive brands like Renault and Fiat, walks into a fashion empire in crisis. Kering’s market value has plummeted by over 60 percent since its peak in 2021, weighed down by the underperformance of flagship brand Gucci and a broader identity issues across its portfolio.