Luca de Meo loves automobiles so much − even publishing a Dictionnaire amoureux de l'automobile (a "Dictionary for Lovers of Automobiles") − that he has finally decided to leave them behind. After holding various positions in the auto industry for 33 years, five of which were spent as general director of Renault, the Italian executive has chosen to join Kering (which houses Gucci, Yves Saint Laurent, Bottega Veneta and Balenciaga, among others). One could say there is no such thing as love, only proof of love – and that it can be bought, among other places, at luxury boutiques.
This is an unprecedented move; going from assembly plants and CO2 emissions standards to fashion week runways is a bold U-turn. Even if both a Dacia Sandero and a Gucci Jackie bag sell for several thousand euros, it is hard to imagine using the same marketing tricks to win over customers who will never inhabit the same world. And while many at Renault have criticized de Meo for a lack of loyalty, one must acknowledge his appetite for risk.
Just as Renault struggled when de Meo took the helm, Kering and its flagship brand, Gucci, have also been facing challenging times. François-Henri Pinault, the group's heir, hopes to launch a similar turnaround, which raises questions about the real nature of the changes being initiated at Renault's headquarters in Boulogne-Billancourt (a Paris suburb).
"This is a personal decision, and I am not running away," de Meo told bewildered employees, insisting that Renault was "well-positioned for the next chapter." Time will tell, because in the car industry, decisions take time to bear fruit, and there are countless ways to make the balance sheet look better before reality catches up a few years later. The examples are numerous, from Carlos Ghosn to Carlos Tavares, who plunged from the pinnacle to disaster in just a matter of months. The only thing certain at this point is that de Meo fundamentally reshaped the Renault – sometimes for the better, but more often... toward the unknown.
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