Gucci has announced significant changes to its management structure aimed at enhancing its client-centric approach. Dario Gargiulo, currently the CEO of Bottega Veneta in Greater China, has been appointed as Gucci’s chief client, marketing and commercial officer. This newly created role will report directly to Francesca Bellettini, who is focused on revitalizing the brand in a challenging luxury market.
Gargiulo’s responsibilities will encompass leading the brand and commercial strategy across all distribution channels. His mandate includes fostering a holistic customer experience, strengthening brand awareness, and maximizing revenue growth. The functions under his leadership will include retail excellence, digital business, client services, product care, store planning, and marketing communications.
Bellettini, who stepped into her role amid a tough climate for luxury brands, is keen on constructing a more client-focused organization. She previously served as Kering’s deputy CEO, overseeing brand development and significantly expanding Saint Laurent, which saw nearly sixfold growth during her tenure.
Gargiulo brings extensive experience to his new position. He has been at the helm of Bottega Veneta in Greater China for two-and-a-half years and previously served as its chief marketing and digital business officer. His background also includes a two-year stint as chief marketing officer at Bottega Veneta in Milan, a role he assumed after working at Diesel and spending nearly 12 years at Heineken.
In addition to Gargiulo’s appointment, there are notable departures within Gucci’s leadership. The president of Europe, the Middle East, and Africa, Lomanto, will be leaving the company. Lomanto joined Gucci in 2022 and played a significant role in brand management alongside former creative director Demna. Following his exit, Cayetano Fabry, currently the chief commercial officer, will succeed him in the EMEA region, adapting his insights into both global and local markets.
These management changes come shortly after the departure of Marco Bizzarri, Gucci’s CEO for the past several years, who partnered with designer Alessandro Michele to grow the brand’s revenues to nearly €10 billion. Bizzarri’s exit in September 2023 led to a series of interim leadership changes, with Jean-François Palus stepping in temporarily before Stefano Cantino took over in January.
Gucci is facing challenges as organic sales fell by 14 percent in the third quarter of 2023, slightly better than the forecasted 16 percent decline. This follows a significant 25 percent drop in sales in the previous quarter, highlighting the brand’s need for a renewed strategic direction.
The latest restructuring reflects Gucci’s commitment to adapting to the evolving luxury market and enhancing customer engagement. With Gargiulo’s extensive experience and Bellettini’s strategic vision, the company aims to navigate these difficult times and strengthen its competitive position.