Bernard Arnold reshuffles his fashion empire and promotes his daughter Delphine: she will be CEO of Dior.
Luxury French group LVMH On Wednesday it announced a reshuffle of its executive leadership: It named a new CEO of its flagship brand. Louis Vuitton And named the billionaire’s daughter Bernard Arnold in front Christian Dior Coder.
The shake-up of LVMH’s two biggest fashion houses comes at a time when the Arnold family’s fortunes are soaring to new heights and beyond. Tesla And to the head of Twitter, Elon MuskThe world’s top billionaires at the end of last year.
Bernard Arnold announced his daughter’s appointment DolphinSenior Executive Louis VuittonAt the helm of Dior is “a continuation of the best life in fashion and leather goods”.
Under his guidance, Louis Vuitton was able to “Fly from record to record” and his “Sharp eye Y An unparalleled experience They will be critical assets in Christian Dior’s continued growth,” Arnold said in a statement.
will happen Pietro BeccariIt will change Michael Burke in front Louis VuittonThe world’s top luxury brand by sales and famous for bags emblazoned with the initials “LV”.
Beccari was admired by Bernard Arnold “Exceptional Job” Led by Dior for the past five years.
“No one doubts that this will lead Louis Vuitton to even greater popularity and success,” he declared.
Arnold congratulated Burke on his “excellent work”. 10 years at the helm of VuittonThis contributed to “widening the distance with our competition”.
Burke will take on a new role alongside Bernard Arnold.
Arnaud CattardAppointments of Becari and Delphine Arnault, portfolio manager at asset management firm Flornoy “Clear Signs of Faith” and a “desire to keep A balance between outsiders and members of the Arnold family.
Beccari, A. of LVMH in 2006 “Strategic House”Delphine Arnold runs “another jewel of the group,” Cattard said.
Delphine Arnold “has done a great and good job at Vuitton and has proven herself,” she called for the signing. “Key Meeting”
The address changes will be effective from February 1.
Arnold, 73, and his family have outlived Musk Forbes Y Bloomberg At the end of last year the world’s biggest billionaires and Forbes Put the net worth of the clan 200,000 million dollars.
Arnold’s five children hold top positions at LVMH.
Delphine Arnold, 47 years old, He has been the executive vice president of Louis Vuitton since 2013 and oversees all activities related to the brand’s products. Previously, he was Deputy General Manager of Christian Dior Couture.
Antoine Arnold45, was appointed as the CEO of the holding Christian Dior SEIt took control of LVMH in December, and holds other positions within the group.
Alexander Arnold, 30 years old, He is the executive vice president of the jewelry brand TiffanyWhile his brother Frederick (28 years) He is the CEO of a watch manufacturer Code Heure.
youngest son, Jean Arnold24, Director of Watch Development and Marketing Louis Vuitton.
LVMH has More than 75 brandsIncluding a fashion company Kenzo and champagne maker Mott & Santon.
The Group has made a net profit of Rs €6.5 billion (7,000 million dollars) in the first half of 2022, 23% higher than the same period of the previous year.
The Sales increased by 28%up to 36,700 million Euros.
Full-year 2022 results will be published in the coming weeks, but are expected to show growth after generating sales of €64bn in 2021, €20bn more than the previous year.
In a note, analysts at RBC Capital Markets said the makeover is “positive for both the Louis Vuitton and Dior brands” and that it “reflects that Leadership change It runs in the Arnold family.
(With information from AFP)