In a reshuffling of high administration at his luxurious items empire, the world’s richest man — LVMH chairman and CEO Bernard Arnault — tightened his household’s grip by appointing his daughter, Delphine Arnault, as the brand new head of Christian Dior.
The 47-year-old had been an govt vp at Louis Vuitton, LVMH’s largest model, since 2013, and can function chair and CEO of the French label beginning in February, LVMH introduced Tuesday.
“The appointment of Delphine Arnault is another milestone in a career journey in fashion and leather goods defined by excellence, first during 12 years at Christian Dior and then at Louis Vuitton for the past decade where she was number two with responsibility for all of the Maison’s product activities,” Bernard Arnault stated in a assertion.
The Frenchman cofounded the luxurious conglomerate in 1987. LVMH additionally owns manufacturers together with Sephora, Fendi, Marc Jacobs, Givenchy, Moët & Chandon, Fenty Beauty, Tiffany & Co, TAG Heuer, and Bulgari. It is Europe’s most precious firm.
Arnault praised his daughter within the assertion, saying that “under her leadership, the desirability of Louis Vuitton products advanced significantly, enabling the brand to regularly set new sales records. Her keen insights and incomparable experience will be decisive assets in driving the ongoing development of Christian Dior.”
Pietro Beccari, who has been the top of Dior since 2018, will now be shifting to exchange long-time Louis Vuitton CEO Michael Burke. Arnault counseled Beccari for his “exceptional” work on the home. Burke — who’s Arnault’s longest-serving lieutenant, and has additionally been chairman of jewelry label Tiffany — will proceed to work alongside Bernard Arnault, the assertion stated.
Bloomberg estimates Arnault’s fortune at $178 billion. He overtook Elon Musk in December 2022 because the world’s richest man.
Arnault has 4 different sons, every of which additionally maintain administration positions at LVMH and its manufacturers.
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Antoine Arnault, 45, was not too long ago appointed as CEO of Christian Dior SE, the holding firm via which the household owns its controlling stake in LVMH. He can also be the CEO of high-end footwear and attire label Berluti, and the chairman of Italian label Loro Piana.
Alexandre Arnault, 30, is govt vp, in command of product and communications at Tiffany & Co. He was CEO of LVMH-owned German luggage-maker Rimowa between 2016 and 2020.
Frederic Arnault, 28, has been the CEO of watch model Tag Heuer since 2020.
Jean Arnault, 24, heads advertising and marketing and product improvement for Louis Vuitton’s watches division since August 2021 and used to intern at prestigious corporations equivalent to McLaren and Morgan Stanley.
The 73-year-old Bernard Arnault has signaled no intention of stepping down from his position at LVMH. The firm final yr raised the utmost age requirement for its CEO from 75 to 80, Reuters experiences.