Additional fortifying administration at its largest manufacturers through inside promotions, LVMH Moët Hennessy Louis Vuitton has named Damien Bertrand deputy chief govt officer of Louis Vuitton, and Pierre-Emmanuel Angeloglou as deputy CEO of Christian Dior Couture.
Bertrand, at the moment CEO of Loro Piana, shall be succeeded by Frédéric Arnault, at the moment CEO of LVMH Watches, which includes Tag Heuer, Hublot and Zenith.
Arnault, the second youngest of LVMH chairman and CEO Bernard Arnault’s 5 youngsters, is to hitch Loro Piana on March 26 for a transition interval with Betrand, who begins at Vuitton on June 10, and in addition turns into a member of LVMH’s govt committee.
The trio of appointments underscores how the French luxurious large largely prefers to groom and promote expertise from inside, and is within the throes of stacking its marquee manufacturers with youthful, achieved executives, a few of whom shall be reunited with former bosses.
Bertrand, who labored at Christian Dior Couture from 2016 to 2021 as managing director answerable for the ladies’s, males’s and child’s enterprise items, shall be reunited with Pietro Beccari, who helmed Dior earlier than changing into chairman and CEO of Louis Vuitton in 2023. Earlier than LVMH, Bertrand was an 18-year veteran of French magnificence large L’Oréal.
And Angeloglou, one other L’Oréal govt who joined Vuitton in 2019 as strategic missions director for trend and leather-based items and later named govt vice chairman, shall be reunited with Delphine Arnault, who left Vuitton to grow to be chairman and CEO of Christian Dior Couture in 2023 as a part of a giant administration shuffle on the high of that yr.
Commenting on the appointments on Wednesday, Bernard Arnault stated, “our maisons’ desirability is fueled by devoted and passionate leaders. Damien, Frédéric and Pierre-Emmanuel’s imaginative and prescient, entrepreneurial spirit, creativity and dedication to excellence shall be belongings to pursue the dynamic growth of our maisons.
“These three nominations additionally replicate our group’s capability to craft careers,” he added.
The administration shuffle additionally units the stage for a brand new manager-designer duo at Fendi.
Angeloglou, who grew to become managing director of LVMH Trend Group in March 2024 overseeing Fendi, Kenzo, Marc Jacobs, Pucci, Stella McCartney, Patou and Off-White, was moreover named CEO of the Roman trend home final Might.
Final October, Kim Jones stepped down as Fendi’s creative director of high fashion, ready-to-wear and fur collections for girls, leaving Silvia Venturini Fendi to spearhead the scholar Fendi present final month throughout Milan Trend Week that kicked off centenary celebrations.
Angeloglou is to maneuver over to Christian Dior Couture on April 15, reporting to Delphine Arnault.
His successors at LVMH Trend Group and Fendi weren’t talked about in Wednesday’s press launch.
Nevertheless, in response to sources, Ramon Ros, at the moment president and CEO of Louis Vuitton China, is taken into account a high contender for the Fendi function.
Angeloglou is the newest CEO-level govt to reach at Dior below Delphine Arnault, demonstrating the gravitational pull of at the moment’s luxurious behemoths.
Final yr, Benedetta Petruzzo, beforehand CEO of Miu Miu, joined Christian Dior Couture as managing director, whereas Montblanc’s CEO Nicolas Baretzki got here on board as deputy managing director.
In accordance with LVMH, Angeloglou is to work alongside Arnault overseeing industrial actions, industrial, finance and authorized.
“His capability to articulate a compelling imaginative and prescient, coupled with an empowerment of the groups, shall be key belongings for Christian Dior Couture’s growth and desirability,” the discharge stated.
One among LVMH’s stealthiest manufacturers, Loro Piana, doesn’t have a star artistic director, stage trend reveals or do collaborations.
However it has grow to be the third-largest enterprise within the trend and leather-based items division behind Vuitton and Dior, with market sources estimating it generates revenues of about 2.5 billion euros.
It’s understood the model’s earnings at the moment are on the stage of revenues when LVMH acquired the model in 2013, with Antoine Arnault changing into chairman and main its integration into the group.
Bertrand, who got here on board in 2021, centered on model elevation, product high quality and savoir-faire to place the model because the “grasp of fibers.” It sources vicuña from Peru, cashmere from Mongolia, and the best, rarest wools from New Zealand and Australia.
The chief introduced the menswear and womenswear nearer, creating the collections collectively, and additional elaborated on Loro Piana’s push into leather-based items and homewares.
At Vuitton, he’s to concentrate on industrial product creation and growth, model picture and communication, in response to LVMH.
Frédéric Arnault joins Loro Piana at a time when the model is claimed to be logging double-digit progress, fueled partly by a permanent pattern towards quiet luxurious. He formally begins June 10 and can report back to Toni Belloni, chairman of LVMH Italy.
In accordance with LVMH, Arnault will “construct on his ardour for distinctive high quality and his management abilities to pursue Loro Piana to the best stage of excellence, whereas guaranteeing the maison stays true to its distinctive savoir-faire.”
The chief is finest identified for his tenure at Tag Heuer, which he joined in 2017 to handle its smartwatch actions earlier than changing into chief technique and digital officer and, finally, CEO in 2020.
He grew to become head of LVMH watches a yr in the past, with a giant concentrate on streamlining and optimizing the economic backdrop essential to Swiss watchmaking. He lead the the acquisition of clockmaker L’Épée 1839 and its dad or mum firm Swiza, bringing distinctive know-how into the group.
Arnault additionally performed a key function in creating the 10-year world partnership between LVMH and Components 1.
LVMH stated Arnault’s successor as CEO of LVMH Watches shall be introduced shortly.