Kering Moved Product to Where the Data Sits
Kering's new chief product officer joins the client centre of excellence, the same division that holds pricing, sales-and-operations planning and data. The appointment is an infrastructure decision written as a hire.
Sir John Crabstone
Kering’s new chief product officer reports to nobody at Gucci. Marilyne Trebus took the role on 1 September after more than a decade at Coach, and she sits under the group’s chief client officer rather than inside any house. Her résumé is the least informative thing about the appointment. The box she was hired into is the news.
That box was assembled in March. Kering’s announcement lists what the client centre of excellence covers: “product & pricing, marketing, distribution channels, S&OP (sales & operations planning), and data”. Assortment, price architecture and the forecast now answer to one executive. The same release notes that the relevant teams inside the houses “will report functionally to the centers of excellence”, which is the courteous phrase for a dotted line that hardens.
Common tooling is an org chart before it is a system.
The infrastructure hire came within weeks. Pierre Houlès arrived from Renault in March as chief digital, AI and IT officer, charged with accelerating the transformation of the group’s technology architecture. A carmaker’s digital chief does not join a luxury group to admire the ateliers. He inherits the plumbing that has to make one product function work across four houses that, until March, ran on different systems entirely.
The half-year figures explain the hurry. Revenue of €7.22 billion returned a recurring operating margin of 12.8 percent, forty basis points above last year, and Luca de Meo described the period as “advancing the rollout of our Group platforms, leveraging technology to enhance efficiency”. Net income attributable to the group fell 60 percent over the same half, to €189 million, on restructuring and store-network charges. A margin gain sitting next to a profit collapse does not undercut the platform strategy; it explains why there was no time to build it gently.
The trade read the hire as a merchandising story, FashionUnited calling Trebus the group’s “new product asset” and listing her brief as merchandising, pricing, product development and integrated business planning. Three of those are craft. The fourth is the discipline of making one demand number serve every function, and it is the reason the job exists.
Kering never lacked product expertise; it lacked one place where the houses could be compared. The weakness in the remedy is the word “functionally”. Presumably that is what buys Trebus a say over house merchandisers without handing her their budgets, and a dotted line lasts only while the centre keeps winning the argument. The real test is the calendar, and the chart does not settle it: a house that sets its own season timing resists being forecast on one model.
De Meo’s framing protects the concession. “Our Houses are the heart of Kering, and the Group platform is there to support their growth and performance,” he said when the centres were announced. The houses keep the taste and the signature. Everything countable about a handbag has moved upstairs. A house will fight to price its own product; it will not think to fight for its own spreadsheet, and that is the fight it has already lost.