Two CEOs and a president: Kering rewires Pomellato, DoDo and its Italian holding

§1Three moves on one date.

Kering named Charlotte Fournet chief executive of Pomellato and Krizia Cucurachi chief executive of DoDo on 1 September, both appointments effective 15 September. Both report to Jean-Marc Duplaix, the group's chief operating officer, who also runs the jewellery division. On the same date Sabina Belli, who has led Pomellato since 2015, becomes president of Kering Italia, the group's Italian holding. Three moves, one date, and they are best read as a single reorganisation of the group's Italian jewellery base rather than as three separate hirings.

§2Fourteen years inside the group's houses.

Fournet arrives with fourteen years inside the group's own houses. She joined Saint Laurent in 2014, moved to Gucci in 2019 and to Bottega Veneta in 2020, working in merchandising and product strategy. Her stated brief at Pomellato is elevated branding, higher store productivity and wider distribution, which is a mandate about the shape of the retail estate rather than about design. Cucurachi's brief at DoDo is narrower and clearer still: strategic development, with the house positioned around jewellery bought as a gift.

§3Eleven years at Pomellato, then Italy.

Belli's move upward is the part with the most weight behind it. Eleven years at the head of Pomellato covers the period in which the house became the larger of Kering's two Milanese jewellers, and the presidency of Kering Italia puts her across the group's whole Italian operation rather than one maison. The company has not published financial responsibilities attached to the role and this desk has not seen a figure for it, so no scope is claimed here beyond the title.

§4The part of the portfolio that grew.

The context is this paper's own reporting from 29 July. Kering's jewellery houses, Boucheron, Pomellato, Qeelin and DoDo, lifted first-half revenue to 521 million euros, up 14% as reported and 20% on a comparable basis, with operating income doubling to 32 million euros. Group revenue over the same half fell 3% to 7.22 billion euros.

The jewellery division was created in March of this year and handed to Duplaix. Putting new chief executives into two of its four houses six months later is what a group does with the part of the portfolio that is growing, not the part it is fixing.