Cayetano Fabry’s Journey from Louis Vuitton to Gucci as New Chief Commercial Officer
Luxury fashion house Gucci has announced Cayetano Fabry as its new chief commercial officer, marking a significant shift in its leadership. Fabry, a seasoned executive with extensive experience in the luxury fashion industry, joins Gucci after serving as president for the EMEA region at Saint Laurent for over four years. His new role at Gucci signals a strategic move for the brand amidst challenging financial times.
Fabry’s career journey began at Louis Vuitton, where he spent 16 years rising through the ranks. Starting as a sales and stock associate in early 2004, he quickly moved into more senior roles, showcasing his expertise in managing high-end retail operations. In 2009, he was appointed as the director of Galeries Lafayette, a prestigious role that paved the way for his promotion as managing director of Louis Vuitton’s Italian business in 2016. His most recent position at Louis Vuitton was managing director for the UK, Ireland, and South Africa.
Fabry’s appointment at Gucci comes during a difficult period for its parent company, Kering. The group reported an 11 percent decline in revenue for the first half of the current fiscal year. Gucci itself, the flagship brand of the group, faced a 20 percent drop in sales, which brought its revenue down to 4.1 billion euros. This decline was particularly noticeable in its directly operated retail network, where sales also dropped by 20 percent on a comparable basis.
In the second quarter, Gucci’s financial struggles persisted, with sales dipping by 19 percent. The Asia-Pacific region, a crucial market for the brand, saw a continued decrease, contributing significantly to the overall decline.
Despite these financial challenges, Gucci is hopeful that Fabry’s vast experience and leadership skills will help steer the brand back to growth. Fabry confirmed his new position in a LinkedIn post, expressing his enthusiasm: “Happy to share” his new role at the iconic fashion house. His move is seen as a strategic effort to revitalize Gucci’s commercial operations and strengthen its presence in key markets.
As Gucci navigates through its financial setbacks, Fabry’s leadership is anticipated to bring fresh perspectives and strategies aimed at boosting sales and regaining market momentum. Fashion enthusiasts and industry insiders alike will be closely watching how Fabry’s influence shapes Gucci’s trajectory in the coming months.