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LVMH“s Arnault tightens family grip as daughter becomes Dior CEO

2023-01-11T07:48:25Z

LVMH (LVMH.PA) Chairman and CEO Bernard Arnault tightened his family’s grip on the luxury goods empire on Wednesday, putting his daughter Delphine in charge of one of its leading labels, Christian Dior, in a management revamp.

The world’s largest luxury group also replaced long-time Louis Vuitton CEO Michael Burke with Pietro Beccari, head of Dior since 2018.

“Both are well respected; logical promotions within the group,” said Credit Suisse analyst Natasha Brilliant.

Delphine Arnault, 47, has worked at Louis Vuitton for the past decade alongside Burke and previously spent a dozen years at Dior.

Burke will continue to work with Bernard Arnault, the company said in a statement.

The move follows the recent appointment of Antoine Arnault, Bernard Arnault’s eldest son, to head the family holding company, replacing veteran executive Sidney Toledano.

The tightening of the family’s hold on its empire also comes amid a wave of high-profile successions in other fashion companies in Europe.

As part of the management changes, the company is also folding Tiffany into the watches and jewellery division, under management of Stephane Bianchi.

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Bernard Arnault, CEO of LVMH Moet Hennessy Louis Vuitton SE, and Delphine Arnault, Executive Vice President of Louis Vuitton, leave after the Spring/Summer 2020 collection show for fashion house Louis Vuitton during Men’s Fashion Week in Paris, France, June 20, 2019. REUTERS/Charles Platiau/Files

Items lie on display at a gingerbread themed gift shop as part of ‘The Fabulous World of Dior’ installation at the Harrods store in London, Britain, November 10, 2022. REUTERS/Henry Nicholls/Files