When new Kering CEO Luca de Meo starts work on Sept. 15 investors expect the Italian car executive to slash costs and jobs just as he’s done at Renault. Don’t be fooled by his charming persona, people who know him say, de Meo’s priority will be a brutal shake up at Gucci. Probably even before he starts, deputy CEO Francesca Bellettini will be demoted and replace Stefano Cantino as Gucci CEO, Miss Tweed was first to report last week. Cantino could be out of a job after less than a year at the group. Yet it’s not just Gucci that needs a turnround job. Kering’s failure to get a grip on hard luxury is crying out for attention, especially in a downbeat industry market where jewellery is one of the few products to shine. Take, for example, Kering’s Pomellato and its more accessible sister brand Dodo. Both are in dire need of tender loving care, sources close to the Milanese jewelers say. What’s more, the brands may be a rounding error in terms of contribution to the group’s profit compared to Gucci but their lackluster performance speaks volumes about Kering’s strategy and management issues de Meo needs to sort out.