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Pinault Holds Barred

Kering C.E.O and chairman François-Henri Pinault has spent the last year beefing up his executive bench and seeding a succession plan, even as things at Gucci remain uncertain.

Francois-Henri Pinault
About 15 years ago, Pinault eliminated the mass retail and sports brands that helped build his father’s fortune, instead homing in on vertically integrated pure luxury. Photo: Marlene Awaad/Bloomberg/Getty Images
Lauren Sherman
July 1, 2024

In Paris, everyone is talking about succession at LVMH, but I came away from my recent trip to the center of the fashion world thinking as much about the future of Kering. The reality is that a generational changeover may happen at LVMH’s closest rival long before Bernard Arnault finally gives it up to the kids. After all, it’s been a year since Kering C.E.O. and chairman François-Henri Pinault accepted the advice of activist investors and began reorganizing his heirloom, which is seeing its status as the only formidable challenger to LVMH threatened by investors, consumers, and internal forces alike.