Gucci has promoted deputy chief executive Stefano Cantino to lead the Italian mega-label, succeeding interim CEO Jean-François Palus.

Cantino climbed the ranks at Prada over the course of two decades, working closely with executive chairman Patrizio Bertelli in various communications, merchandising and strategy roles through the company’s global expansion, public offering and lengthy turnaround. The Italian executive then decamped to Louis Vuitton, where he oversaw communication at the LVMH flagship.

Cantino succeeds Jean-François Palus, formerly the managing director of Gucci owner Kering. Palus joined the brand in 2023 following the departure of Marco Bizzarri and has worked to revamp internal processes and culture while onboarding a new designer, Sabato De Sarno, but has been seen to lack hands-on experience in running a large fashion brand at a time when Gucci’s fortunes are under severe pressure.

Gucci’s first-half revenue fell 20 percent as it struggles to transition its image during a sharp slowdown in demand for luxury goods. The brand phased out product and marketing from its previous creative era, led by star designer Alessandro Michele, clipping sales of maximalist couture and streetwear-inflected merch. A new strategy seeking to underscore Gucci’s heritage and better promote the brand’s core range of carry-over items has thus far been unable to fill the gap, in part hindered by a muted industry reception to De Sarno’s vision and slow delivery of his seasonal collections.

Stay tuned to BoF for updates on this developing story.