A new CEO collection for LVMH. The global luxury giant renews the head of its two biggest brands, Louis Vuitton and Dior, with the appointment of Pietro Beccari at the head of the first, and Delphine Arnault, daughter of Bernard Arnault, at the controls of the second.
This type of double announcement is very rare for the group. Its management indicated on Wednesday morning that after ten years as CEO of Louis Vuitton – the flagship brand of LVMH, the world’s leading luxury house in terms of sales – Michael Burke would leave his place to Pietro Beccari, who had headed Christian Dior Couture since 2018 after entering the LVMH galaxy in 2006.
Father’s Tribute
Delphine Arnault, her 47-year-old daughter, will take over the Christian Dior house, replacing Pietro Beccari. She was until now deputy general manager of Louis Vuitton, responsible for overseeing all product activities since 2013, after having worked at Christian Dior for twelve years.
“Under his direction, the desirability of products has progressed considerably, allowing the brand (Louis Vuitton) to fly from record to record. His sharp eye and his incomparable experience will be decisive assets in pursuing the development of Christian Dior,” said his father.
The nuggets of LVMH
These two appointments – which will be effective on February 1 – are “obvious signs of confidence, with also the desire to respect a balance between external personalities and members of the Arnault family”, commented Arnaud Cadart, portfolio manager at Flornoy.
“Pietro Beccari takes the helm of a strategic house if there is one, and Delphine Arnault that of the other nugget of the group: she has proven herself with a big and beautiful job at Vuitton, it’s a major appointment” , he estimated.
The five children of the businessman already work in the LVMH group. The patriarch Bernard Arnault, 73, recently became with his family the first fortune in the world ahead of Elon Musk, boss of Tesla, SpaceX and Twitter, according to the Forbes ranking.