LVMH owner Bernard Arnault promotes daughter to CEO of Christian Dior
In a top-management reshuffle at his luxury goods empire, the richest man in the world – LVMH chairman and CEO Bernard Arnault – tightened his family’s grip by naming his daughter Delphine Arnault as the new head of Christian Dior.
The 47-year-old has been executive vice president at Louis Vuitton, LVMH’s biggest brand, since 2013 and will serve as chairman and CEO of the French label from February, LVMH announced on Tuesday.
“The appointment of Delphine Arnault is another milestone in a career journey in the fashion and leather goods industry characterized by excellence, first during 12 years at Christian Dior and then during the last decade at Louis Vuitton, where she was number two and was responsible for all Maison product activities,” said Bernard Arnault in a statement.
The Frenchman was a co-founder of the luxury group in 1987. LVMH also owns brands such as Sephora, Fendi, Marc Jacobs, Givenchy, Moët & Chandon, Fenty Beauty, Tiffany & Co, TAG Heuer and Bulgari. It is Europe’s most valuable company.
Arnault praised his daughter in the statement, saying that “under her leadership, the desirability of Louis Vuitton’s products has increased significantly and has enabled the brand to regularly set new sales records for Christian Dior.”
Pietro Beccari, who has been at the helm of Dior since 2018, is now moving to replace longtime Louis Vuitton CEO Michael Burke. Arnault praised Beccari for his “extraordinary” work around the house. Burke – who is Arnault’s senior lieutenant and was also chairman of jewelry label Tiffany – will continue to work with Bernard Arnault, the statement said.
Bloomberg estimates Arnault’s net worth at $178 billion. In December 2022, he overtook Elon Musk as the richest man in the world.
Arnault has four other sons, each of whom also hold senior positions within LVMH and its brands.
Antoine Arnault, 45, was recently appointed CEO of Christian Dior SE, the holding company through which the family holds its majority stake in LVMH. He is also CEO of high-end footwear and apparel label Berluti and chairman of Italian label Loro Piana.
Alexandre Arnault30, is executive vice president responsible for product and communications at Tiffany & Co. Between 2016 and 2020 he was CEO of German luggage manufacturer Rimowa, part of LVMH.
Frederic Arnault, 28, has been CEO of the watch brand Tag Heuer since 2020.
Jean Arnault24, has been in charge of marketing and product development for the watch division of Louis Vuitton since August 2021 and previously completed internships at renowned companies such as McLaren and Morgan Stanley.
Bernard Arnault, 73, has not signaled any intention to step down from his role at LVMH. The company last year raised the maximum age for its CEO from 75 to 80, according to Reuters.
https://www.cbsnews.com/news/lvmh-owner-bernard-arnault-promotes-daughter-delphine-to-head-dior/ LVMH owner Bernard Arnault promotes daughter to CEO of Christian Dior