Kering named three internal executives to CEO roles across its Italian jewelry cluster on Thursday, consolidating operational control as Group Managing Director Luca de Meo reshapes commercial reporting lines. Sabina Belli becomes CEO of Kering Italia, Charlotte Fournet takes Pomellato, and Krizia Cucurachi leads DoDo. All three held senior roles inside the Kering system before promotion. No external hires.
Belli joined Kering in 2021 from Tiffany & Co., where she ran Italian operations. She inherits a €1.8 billion regional revenue base spanning Gucci, Bottega Veneta, and the jewelry houses. Fournet arrives from Boucheron, where she spent four years building clienteling infrastructure across Asia-Pacific. Cucurachi previously managed DoDo's product development and held GM responsibilities at Pomellato's North American division. The appointments take effect immediately, reporting directly to de Meo's newly centralized jewelry division structure announced in October.
The moves matter because Kering is rebuilding mid-market jewelry profitability while Gucci stumbles. Pomellato posted €320 million in revenue for 2023, down 4% year-over-year, while DoDo's charm-bracelet business fell 11% to roughly €85 million. Both brands lost pricing power as LVMH's Tiffany and Richemont's Cartier deepened their accessible luxury offerings. Kering needs these houses to hold 18-22% EBITDA margins to justify continued investment while Gucci undergoes its multi-year turnaround under Sabato De Sarno. The Italia CEO role becomes critical as the country represents 23% of Kering's total European revenue and the primary manufacturing base for leather goods and jewelry across the portfolio.
De Meo's preference for internal promotions signals cost discipline and operational continuity over outside transformation bets. All three executives know Kering's IT stack, clienteling protocols, and wholesale contract structures. That matters when the group is cutting €250 million in overhead by end of 2025 and needs seamless handoffs rather than six-month onboarding cycles. The risk is insufficient outside perspective as the jewelry category fragments into experiential retail, creator collaborations, and direct-to-Gen-Z digital channels where none of the three have published track records.
Operators should watch Pomellato's spring 2025 collection launch in Milan, expected late March, for early signs of Fournet's merchandising direction. DoDo's North American wholesale renewals come up for negotiation in Q2, a test of Cucurachi's pricing leverage with Neiman Marcus and Saks. Belli's first priority will be consolidating Kering's 47 Italian boutiques onto a unified CRM platform by September, a project delayed twice under prior leadership. De Meo is expected to announce at least two more CEO appointments across smaller houses before June, likely Qeelin and Boucheron's European division.
Kering's jewelry revenue now sits at €1.1 billion annualized, 7% of group total, with Boucheron carrying two-thirds of that weight. The three new CEOs control the rest.