Luca de Meo’s appointment as CEO of Kering is just one example. There’s also Pierpaolo Piccioli’s arrival at the helm of Valentino and, going back a little further, Benedetta Petruzzo’s appointment as Deputy Managing Director of Dior Couture. The management of European luxury is becoming increasingly Italian, notes Les Echos, the financial daily owned by the LVMH group. And within this growing Italian presence, the sector is seeing a distinct Milanese origin and a Bocconi University education come to the fore.

Luxury is increasingly Italian

It’s certainly not news that Italian executives hold top roles in international groups. Speaking of Les Echos’ ownership, one could point to figures such as Toni Belloni and Pietro Beccari. However, the trend appears to be accelerating, and the number of examples now goes well beyond those mentioned above. The French press offers two explanations. First, Italy remains a manufacturing cornerstone of the luxury industry: brands continue to invest in the country and, in turn, select its most talented managers. Second, there’s the growing influence of Milan and its most prestigious university. “The Milan offices of consulting firms”, a source tells Les Echos, “are currently the most active: their consultants are increasingly moving into luxury. Many of these professionals are also Bocconi alumni. This growing influence is evident across many sectors beyond luxury and mirrors Italy’s economic performance — its per capita GDP is now higher than that of France”.

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