The billionaire owner of luxury group LVMH, Bernard Arnault, has appointed his daughter Delphine as the new head of Christian Dior, it was announced on Wednesday.
The 47-year-old will be chairman and chief executive of the French brand from February following a major shake-up at the conglomerate behind brands such as Louis Vuitton, Fendi, Givenchy and Tiffany & Co.
In a press statement, Bernard Arnault described his daughter’s career at the company as “defined by excellence.”
“Under her leadership, the desirability of Louis Vuitton products has advanced significantly, enabling the brand to regularly set new sales records,” it was quoted as saying. “Her astute insights and unparalleled experience will be a decisive asset in driving the continued development of Christian Dior.”
Models walk in the menswear show at the Pyramids of Giza, Egypt, hosted by Dior in December 2022. Credit: Ahmed Hasan/AFP/Getty Images
Wednesday’s announcement follows a series of recent changes unveiled by LVMH, including a new role for Arnault’s second child, Antoine, who steps in as CEO of the holding company through which the family owns a controlling stake in LVMH to replace longtime CEO Sidney Toledano.
It was also announced Wednesday that outgoing Dior boss Pietro Beccari will take over Louis Vuitton, whose current chief executive, Michael Burke, is staying on at Arnault’s luxury empire in an undisclosed location. The conglomerate’s share price rose after news of the restructuring.
In a statement, Bernard Arnault praised Beccari, who has been at Dior since 2018, for his “exceptional” work at the house. Alongside creative directors Maria Grazia Chiuri and Kim Jones, who lead the women’s and men’s divisions, the Italian executive has overseen several major developments at the brand, including a move into beach accessories and a major revamp of the brand’s flagship store in Paris.
Home sales tripled, to 6.6 billion euros ($7.1 billion), during Beccari’s four-year tenure, Reuters said, citing Citi estimates.