Executive Shifts at Kering as Charbit Takes Over From Francesca Bellettini, While Gianfranco Gianangeli Steps Up at Balenciaga
In a significant leadership transition, Cédric Charbit, CEO of Balenciaga since 2016, has been appointed CEO of Saint Laurent, effective January 2. He will succeed Francesca Bellettini, who remains Kering’s deputy CEO for brand development. Gianfranco Gianangeli, chief commercial officer at Saint Laurent and former CEO of Maison Margiela, will take over as CEO of Balenciaga on the same date.
The announcements were made by Kering, the French luxury group that owns both Paris-based fashion houses, following the close of trading on the Paris stock exchange.
For Charbit, the move marks a return to Saint Laurent, where he previously served as executive vice president of product and marketing before assuming leadership at Balenciaga in 2016. He joined the brand shortly after creative director Demna, helping to drive Balenciaga’s growth and manage its recovery following a controversial 2022 advertising campaign.
Charbit’s return to Saint Laurent comes amid slowing luxury sales. In 2024, comparable sales at the brand dropped 6% in the first quarter, 9% in the second, and 12% in the third. Kering noted that Charbit’s role will involve leveraging his expertise to further develop Saint Laurent’s heritage and identity while addressing these challenges.
Charbit, a graduate of ESC Toulouse business school, began his career in retail and held management roles at Emilio Pucci, Harrods, and Printemps before joining YSL in 2012 as director of product strategy.
At Balenciaga, Gianangeli will step into a brand still benefiting from its streetwear-infused luxury appeal but facing the task of sustaining its global momentum. Gianangeli’s background includes leadership roles at Givenchy, Prada, and Bottega Veneta. Known for his entrepreneurial approach and merchandising expertise, he joined Saint Laurent in 2023 after revitalizing his family’s knitwear business.
Kering highlighted Gianangeli’s mission to “continue strengthening and expanding [Balenciaga’s] reach and renown.”
This leadership shuffle is part of Kering’s broader strategic evolution, following recent changes at Gucci and other key appointments across its portfolio, which includes brands such as Bottega Veneta, Alexander McQueen, and Brioni. Bellettini emphasized her confidence in the group’s new leadership, stating, “With the recent changes… we’ve got the right people in place to tackle today’s challenges and set the stage for the future.”