Kering Appoints Former Chanel Executive to Board Amid Luxury Turnaround

Kering, the French luxury conglomerate behind iconic brands like Gucci and Saint Laurent, is set to strengthen its leadership by appointing Marie-Hélène Chenut to its board of directors. Chenut brings an unparalleled wealth of experience from the ultra-luxury sector, having spent three decades at Chanel. Her tenure at the privately-held house spanned critical divisions, including perfume and haute couture. This strategic move comes as Kering seeks to inject fresh expertise into its governance during a pivotal era of brand repositioning and fluctuating global demand.

Navigating Financial Recovery

The appointment arrives at a time when Kering is fighting to regain its financial footing. The group’s recurring operating income recently saw a 39 percent dip, falling to €969 million, though this figure slightly outperformed analyst expectations. Under the leadership of CEO Francesca Bellettini, certain sectors of the group have shown resilience; Saint Laurent, for instance, has successfully doubled its sales over the past five years. Kering’s stock has also seen a recent 25 percent rebound, fueled by investor optimism surrounding the turnaround strategies implemented by the executive team.

Tariffs and Global Pricing Strategy

Beyond leadership changes, Kering is carefully managing macroeconomic headwinds, particularly the 15 percent U.S. tariff on European Union goods. Chief Financial Officer Armelle Poulou described the impact as “totally manageable,” noting that the group had already applied price increases in the second quarter. The company is reportedly considering further “measured” price hikes this autumn to offset costs and protect margins. As the luxury sector faces a “turnaround test” in 2026, the addition of a Chanel veteran like Chenut is expected to provide the strategic depth necessary to steer the group through ongoing trade tensions and shifting consumer sentiment.