New year, new leadership at LVMH.
Louis Vuitton and Christian Dior Couture, two houses under the umbrella of LVMH, are being affected by major executive changes.
On Wednesday, the luxury conglomerate announced that Michael Burke, who served as chairman and CEO of Louis Vuitton for ten years, is moving to an unnamed role that will report directly to LVMH CEO Bernard Arnault. Pietro Beccari — recently chairman and CEO of Dior — will replace him.
“[Pietro Beccari’s] leadership accelerated the appeal and success of this iconic house. Monsieur Dior’s values of elegance and his innovative spirit have been given a fresh intensity, supported by highly talented designers,” Arnault said in a statement. “I am sure that Pietro will take Louis Vuitton to the next level of success and desirability.”
Burke played a major role in developing LVMH into the luxury powerhouse it is today: not only did he help Louis Vuitton reach new heights with talent like Virgil Abloh, but he also worked on the integration of Tiffany & Co. to his portfolio.
“He has done a tremendous job developing this exceptional home,” Arnault said in a statement. “It extended Louis Vuitton’s lead over the competition and promoted Louis Vuitton’s heritage while anchoring it in modernity.”
As reported Vogue Business, Dior sales quadrupled from the time Beccari became president and CEO in 2018 to 2022. While at the helm, he bravely hosted physical fashion shows during the pandemic, reopened his Paris flagship boutique at 30 Montaigne, bet on South Korean markets and invested more in digital and social media.
Replacing Beccari at Dior is Delphine Arnault, Bernard’s daughter, who comes after becoming executive vice president of Louis Vuitton. (Last month, LVMH revealed that Antoine Arnault, the eldest son, will take over as CEO of Christian Dior SE, the family holding company, after serving for a decade as CEO of Berluti and chairman of Loro Piana. All of Arnault’s children work in the family business: Alexandre at Tiffany & Co., Frederic at Tag Heuer, Jean at the Louis Vuitton watch department.)
The Arnault-controlled conglomerate has a unique position in the market, from fashion to fine spirits. This change in leadership paves the way for a potential turning point amid an ever-evolving social landscape and economic pressures: how this growth occurs—between design, technological innovation, shopping experiences and more—will determine the direction of luxury fashion in the years ahead.
Want the latest news from the fashion industry first? Sign up for our daily newsletter.