LVMH chairman and CEO Bernard Arnault wants his family to be an integral part of the luxury goods empire. He put his daughter Delphine Arnault in charge of one of the leading labels under the empire’s umbrella, Christian Dior, in a management reshuffle.
The world’s largest luxury empire has replaced longtime Louis Vuitton CEO Michael Burke with Pietro Beccari, who has headed Dior since 2018.
LVMH is also the most valuable company in Europe
Dior’s new boss, Delphine Arnaud, 47, has worked for Louis Vuitton for the past decade alongside Burke. You also worked for Dior for many years.
During his tenure, Pietro Beccari tripled Christian Dior sales to €6.6 billion, according to Citi estimates. LVMH does not provide an annual sales breakdown for its brands.
“Succession planning in strategic roles has been instrumental in the success of LVMH’s key brands over the past 20 years. Today’s moves are therefore significant,” said Thomas Chauvet, an analyst at Citi.
Recently, Antoine Arnaud, who is the eldest son of Bernard Arnault, was appointed head of the family holding company, replacing veteran executive Sidney Toledano.
Bernard Arnault, 73, shows no signs of retiring anytime soon, and last year the company raised the maximum age of its chief executive to 80 from 75 previously.
Delphine and Antoine are children from their father’s first marriage. Another of her sons, Alexandre Arnaud, 30, is an executive at Tiffany, while Frédéric Arnaud (28) is CEO of another group brand, TAG Heuer. The youngest son of billionaire Jean Arnaud (24 years old) heads the marketing and product development department of Louis Vuitton watches.
