LVMH (LVMH.PA) Chairman and CEO Bernard Arnault tightened his family’s grip on the luxury goods empire on Wednesday, putting his daughter Delphine in charge of one of its leading labels, Christian Dior, in a management revamp.
The world’s largest luxury group also replaced long-time Louis Vuitton CEO Michael Burke with Pietro Beccari, head of Dior since 2018.
“Both are well respected; logical promotions within the group,” said Credit Suisse analyst Natasha Brilliant.
Delphine Arnault, 47, has worked at Louis Vuitton for the past decade alongside Burke and previously spent a dozen years at Dior.
Burke will continue to work with Bernard Arnault, the company said in a statement.
The move follows the recent appointment of Antoine Arnault, Bernard Arnault’s eldest son, to head the family holding company, replacing veteran executive Sidney Toledano.
The tightening of the family’s hold on its empire also comes amid a wave of high-profile successions in other fashion companies in Europe.
As part of the management changes, the company is also folding Tiffany into the watches and jewellery division, under management of Stephane Bianchi.