Luca-De-Meo

Pierpaolo Piccioli’s first Balenciaga collection, presented in Paris in October 2025, is the first time in 28 years that the house’s silhouette has retreated rather than advanced — the Ghesquière-to-Wang-to-Demna line, unbroken since 1997, ended on a runway that looked back to Cristóbal’s 1950s. The piccioli balenciaga debut is the most-watched test of Kering’s ReconKering plan because it is the only one of the group’s three creative-director changes where the new designer arrives without a brief to reset the brand’s commercial spine, only its image. CEO Gianfranco Gianangeli, in post since November 2024, and Deputy CEO Nathalie Raynaud, promoted in 2026, have already done the spine work: the Cagole, the Rodeo, the Bel Air, and the Le City revival did most of the un-streetwearing of Balenciaga before Piccioli arrived. What he inherits is a house whose leather goods are working and whose image needs a new sentence. ...

On 16 April 2026, in Florence, Luca de Meo stood in front of investors for more than three hours and named the plan that will define the next four years at Kering: ReconKering. The Kering Florence strategy 2026 is a three-phase reset — structural fix by end-2026, rebuild to growth by end-2028, reclaim “Next Luxury” leadership by end-2030 — and it lands on four very different desks at once: Gucci under Demna Gvasalia, Bottega Veneta under Matthieu Blazy’s successor moment, Balenciaga in the post-Demna handover, and a beauty business that is no longer Kering’s at all after L’Oréal closed its $4.6 billion acquisition of Kering Beauté on 21 April 2026. This piece reads each of those four landings against the targets de Meo actually committed to in Florence, and against the Q1 2026 numbers that frame them. ...