Monday, April 22, 2024

LVMH Owner Bernard Arnault Appoints Daughter To Run Dior

Luxury group LVMH’s billionaire owner Bernard Arnault, has appointed his daughter Delphine as the new head of Christian Dior, it was announced Wednesday.

The 47-year-old will serve as chair and CEO of the French label from February following a major shakeup at the conglomerate behind brands including Louis Vuitton, Fendi, Givenchy and Tiffany & Co.

Arnault, whose father became the world’s richest man last month, will move from Louis Vuitton, where she joined as executive vice president in 2013. She previously spent over a decade at Dior and has been closely involved in LVMH’s Prize for Young Fashion Designers.

In a press statement, Bernard Arnault described his daughter’s career at the company as “defined by excellence.”

“Under her leadership, the desirability of Louis Vuitton products advanced significantly, enabling the brand to regularly set new sales records,” he is quoted as saying. “Her keen insights and incomparable experience will be decisive assets in driving the ongoing development of Christian Dior.”

Wednesday’s announcement follows a slew of recent changes unveiled by LVMH including a new role for Arnault’s second child, Antoine, who is stepping up to replace long-serving executive Sidney Toledano as CEO of the holding company through which the family owns its controlling stake in LVMH.

It was also announced that Dior’s outgoing boss Pietro Beccari will take over at Louis Vuitton, whose current CEO, Michael Burke, will remain in Arnault’s luxury empire in an undisclosed capacity. The conglomerate’s share price rose following news of the reshuffle.

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