Gucci poaches Louis Vuitton exec Stefano Cantino for deputy CEO

Cantino is expected to join the luxury rival on May 2 and will work alongside and report directly to president and chief executive Jean-François Palus, as first reported by Women’s Wear Daily.

The pair are expected to take joint responsibility for “defining and implementing the brand strategy”.

Cantino will also work closely with Gucci creative director Sabato de Sarno and Kering group deputy chief executive Francesca Bellettini.

Cantino first joined Louis Vuitton in August 2018 and also previously held several marketing and communication director roles at Prada.

Gucci said Cantino brings “extensive experience in the luxury industry at senior levels in various organisations” and added that his background and expertise will make him a “major addition” to the team.

Cantino said: “I am very proud to join Gucci, the house that owns the richest heritage in Italian luxury, as it begins a new chapter in its history. 

“I look forward to contributing with full dedication to the definition and implementation of the strategy that Jean-François Palus has initiated and I can’t wait to work with all of the Gucci team toward success.”

Palus said: “I am delighted that Stefano Cantino is joining us to write the new chapter we are currently writing for the house with determination and a long-term vision.

“Stefano will work very closely with me and in full alignment with the entire Gucci team to implement our action plans across the organisation.”

The news comes after Kering said last month that it expects a “steeper sales drop” at Gucci in its first quarter trading update as a result of a slowdown in sales in Asia Pacific.

The luxury fashion house is scheduled to update on its performance later this month.