Saint Laurent CEO admits brand must do more to retain luxury shoppers

Saint Laurent’s chief executive has said luxury groups must work harder to win back aspirational shoppers, as the French fashion house bets on menswear and China to revive growth for its struggling parent company Kering. “We haven’t been good enough at retaining clients, we should do better,” Cedric Charbit said at the FT’s Business of Luxury summit in Puglia, Italy. Charbit said that while the brand was very attentive to its wealthiest clients, others had fallen through the cracks and that more effort should be made to retain them. He added that Saint Laurent wanted to expand into underdeveloped categories such as menswear as well as preserve the brand’s desirability. The comments come at a difficult moment for Saint Laurent and Kering, which have been hit by a prolonged slowdown in the global luxury market amid inflation and weaker consumer confidence. Kering has been under particular pressure as demand for Gucci, its largest brand, has slumped sharply, increasing scrutiny on the group’s ability to reignite growth across its portfolio. While Saint Laurent has held up better than some rivals, sales have also weakened, underscoring the challenge of attracting younger and more aspirational shoppers without diluting the exclusivity on which luxury brands depend. “The industry’s growth has been extraordinary but not sustainable,” Charbit said. “As we move forward, we will expand product categories, not only because the world is changing but it’s what the brand is about.” Charbit took over as Saint Laurent chief in January 2025, succeeding Francesca Bellettini, who led the brand for more than a decade before moving into a senior role at Kering. His appointment came as the French luxury group sought to refresh its leadership ranks. Last year, Kering also recruited former Renault boss Luca de Meo as chief executive in a high-profile bet that the turnaround specialist could help to revive growth at the struggling luxury conglomerate. “Luca describes himself as brutal. I see him as direct and decisive,” Charbit said. “The luxury industry needs more of that.” Silvia Sciorilli Borrelli, Elizabeth Paton and Adrienne Klasa © 2026 The Financial Times. This article originally appeared in The Financial Times.