Weeks after joining Gucci as deputy chief executive in May, Stefano Cantino rubbed shoulders with stars and owner Kering’s top brass as the Italian brand took over London’s Tate Modern to stage its lavish runway show.
But the spectacle and huge after-party — where Kering executives mingled with guests and supermodel Kate Moss draped herself over Mark Ronson’s DJ booth — barely masked the difficulties ailing Gucci is facing.
When Kering this week announced its decision to promote Cantino to chief executive of the French luxury conglomerate’s biggest brand and profit centre, they were counting on his five-year stint at LVMH’s Louis Vuitton and two decades at Prada to lead the Florentine house out of decline.
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