KERING: THE ITALIAN HYPOTHESIS OF INFLUENCE.

Bring people closer. Align decisions.

With Luca de Meo, that combination deserves more attention than his style.

Because an accessible CEO can turn proximity into commitment—and commitment into execution.

An Italian hypothesis emerges: mobilize through identity, accelerate through trust, make execution a personal commitment.

Several precedents help explore it.

→ At Fiat, Sergio Marchionne described a flatter, faster organization with stronger connections across functions. Removing layers reduces filters. It also brings managers closer to expectations at the top.

→ At Ferrero, the governance structure announced in 2026 assigns executive responsibilities to seasoned insiders. Giovanni Ferrero retains the strategic vision. Professional management meets cultural continuity.

→ At Brunello Cucinelli, humanistic capitalism champions dignity at work and quality of life. Craft and belonging give collective meaning to individual effort.

These practices do not constitute a national school of management. They reveal a common thread: connecting people, identity, and authority to secure cooperation.

At Kering, that lens brings concrete changes into focus.

In March 2026, the group created two centers of excellence: Industry and Client. Relevant teams within the Houses report functionally to them.

Production, quality, procurement, product, pricing, distribution, data: these functions control critical performance levers.

The Houses carry their distinct identities.
The group increasingly structures how they execute.

How do you secure buy-in when control over execution is shared?

That is the influence mechanism to decode.

In September, Sabina Belli became President of Kering Italia, reporting directly to de Meo. Her mandate spans institutions, partners, and the transmission of craftsmanship.

Cooperation also takes shape beyond the hierarchy, across the ecosystem that enables the Houses to produce.

Then comes the test.

On October 22, Gucci reported a 6% decline in comparable sales. The next day, Reuters reported a 16% plunge in Kering shares.

Under pressure, every leader must account for their contribution. Each may be tempted to blame what they cannot control.

The HUMINT test becomes specific:

Who escalates a disagreement between a House and the center?
Who can challenge a standard?
Who turns a tough judgment call into a decision people actually execute?

Here, the Italian hypothesis earns its relevance: personal trust could turn buy-in into cooperation.

It could also make that cooperation dependent on the CEO.

Kering’s strategic question now comes down to one line:

Does de Meo’s influence enable people to act without waiting for de Meo?

#HumintAdvisory


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