In a momentous shakeup involving its most accomplished management aces and its fast-growing flagship maisons, LVMH Moët Hennessy Louis Vuitton said Dior head Pietro Beccari is to become chairman and CEO of Louis Vuitton, with Delphine Arnault succeeding him at the helm of the storied couture house.
The dynamo behind Dior’s stupendous growth trajectory since 2018, Beccari is to succeed Michael Burke, 66, who is bowing out of Vuitton after a stellar 10-year tenure and will “take up new responsibilities, reporting directly to Bernard Arnault,” LVMH said.
Arnault is chairman and CEO of LVMH, and also head of Financière Agache, the main family holding company.
The changes are effective Feb. 1.
In addition, Charles Delapalme, EVP of Christian Dior Couture in charge of commercial activities since 2018, has been elevated to managing director of Christian Dior Couture.
Finally, LVMH said it would further widen the purview of Stéphane Bianchi, chairman and CEO of the watches and jewelry division, to include Tiffany & Co. and Repossi.
The developments cap off a flurry of major changes at some of Europe’s largest luxury players in recent months, with Gucci parting ways with its star creative director Alessandro Michele, and Prada bringing on former LVMH executive Andrea Guerra to succeed Patrizio Bertelli as CEO.
The management shuffle at LVMH could trigger other creative and executive shifts at the vast conglomerate, whose fashion holdings include Fendi, Givenchy, Loewe and Celine, among others.
For now, it marks a homecoming for Delphine Arnault, who was Dior’s deputy general manager from 2008 until 2013, when she moved over to Vuitton as second-in-command. Arnault, the eldest of Bernard Arnault’s five children, arrived at a time when Burke had initiated an upscaling drive at Vuitton and could leverage her expertise in accessories and high-end leather goods.
It also significantly raises the profile of Arnault, who takes on her first CEO role at one of the most visible and treasured fashion houses in the LVMH empire. Until now, Arnault has been largely a behind-the-scenes power player in her role as Vuitton’s executive vice president in charge of supervising all of its product-related activities.
For example, she orchestrated Vuitton’s mega collaboration with Japanese artist Yayoi Kusama, unfurling throughout the first half of this year and touching all categories of the business.
Commenting on these “significant organizational changes,” Bernard Arnault characterized his daughter’s arrival as chairman and CEO of Christian Dior Couture as ” another milestone in a career journey in fashion and leather goods defined by excellence.”
Speaking of her tenure at Vuitton, he said the desirability of products “advanced significantly, enabling the brand to regularly set new sales records. Her keen insights and incomparable experience will be decisive assets in driving the ongoing development of Christian Dior.”
The driving force behind the LVMH Prize, marking its 10th anniversary in 2023, Arnault is known for having a strong rapport with designers and fine artists. Warm in demeanor, but with a steely determination, she delights in nurturing the creative sparks that fuel the industry, following design ideas through the multiple steps until they reach the sales floor.
Her promotion comes less than a month after her brother Antoine Arnault was appointed CEO of holding company Christian Dior SE, which controls LVMH, and vice chairman of its board of directors. That move further locked in family control over the luxury empire, with Antoine Arnault taking on the new title in addition to his roles as CEO of Berluti, chairman of Loro Piana and head of communication, image and environment at LVMH.
Wednesday’s announcement marks a return to Vuitton for Beccari, who first joined the leather goods powerhouse from consumer products giant Henkel in 2006, initially as director of strategy and marketing coordination, ultimately taking on responsibility for business units including ready-to-wear and accessories and rising to executive vice president.
It also marks the second time Beccari has succeeded Burke. In 2012, Beccari became chairman and CEO of Fendi after Burke took the management helm of Bulgari SpA. Delphine Arnault also succeeds Beccari for the second time in her career: She had taken over Beccari’s responsibilities when she first arrived at Vuitton, and now takes his place at Dior.
The internal movement is signature LVMH, which stockpiles management talent, promotes from within and grooms future leaders.
“We view these management changes as positive for both the Louis Vuitton and Dior brands, and they underline the bench strength and long-term custodian approach at LVMH which we see as one of the group’s core competitive advantages,” RBC Europe said in a research note this morning. “It also reflects ongoing leadership transition within the Arnault family.”
Shares in LVMH gained 1.4% in late morning trading on the Paris Bourse.
This story was reported by WWD and originally appeared on WWD.com. Read the full story on WWD.com.
