Delphine Arnault appointed by father Bernard Arnault to run Dior

Written Oscar Holland, CNN

The owner of luxury group LVMH, billionaire Bernard Arnault, has appointed his daughter Delphine as the new head of Christian Dior, it was announced on Wednesday.

The 47-year-old will take over as chairman and chief executive of the French label from February following a major shake-up at the conglomerate behind brands such as Louis Vuitton, Fendi, Givenchy and Tiffany & Co.

Arnault, whose father became the world’s richest man last month, will move from Louis Vuitton, where she joined as executive vice president in 2013. Before that, she spent more than a decade at Dior and was closely involved with the LVMH prize for young fashion designers.

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, allowing the brand to regularly set new sales records,” he said. “Her keen insights and unparalleled experience will be a critical asset to the continued development of Christian Dior.”

Models walk in the Dior menswear show at the Egyptian Pyramids of Giza in December 2022.

Models walk in the Dior menswear show at the Egyptian Pyramids of Giza in December 2022. Credit: Ahmed Hasan/AFP/Getty Images

He joins the label as it looks set to resume the sustained growth it enjoyed before the Covid-19 pandemic. The move also comes as Dior, like the rest of the luxury fashion industry, heads into a busy season of big shows and new collections. In the next two months, the brand is scheduled to present new men’s, fashion and women’s ready-to-wear lines at the upcoming editions of Paris Fashion Week.

Wednesday’s announcement follows a slew of recent changes unveiled by LVMH, including a new role for Arnault’s second child, Antoine, who will replace longtime manager Sidney Toledano as CEO of the holding company through which the family owns its controlling stake in LVMH. .

It was also announced on Wednesday that outgoing Dior chief Pietro Beccari will take over at Louis Vuitton, with current CEO Michael Burke remaining at Arnault’s luxury empire in an undisclosed capacity. The conglomerate’s share price rose after news of the reorganization.

In a statement, Bernard Arnault praised Beccari, who has been with Dior since 2018, for his “exceptional” work at the house. Along with creative directors Maria Grazia Chiuri and Kim Jones, who lead the women’s and men’s divisions, the Italian executive oversaw several major changes at the brand, including a move into beach accessories and a major renovation of the brand’s Paris flagship.

In recent years, Dior has also appointed powerful celebrity ambassadors and collaborators, from Travis Scott to tennis star Emma Raducana and K-pop star Jisoo. Meanwhile, the brand has staged increasingly ambitious shows — including a dramatic evening spectacle that used the illuminated pyramids of Giza as a backdrop for its fall 2023 menswear collection — and expanded its presence in Asia. Last year, the fashion house held a show in South Korea for the first time ever.

Revenue at the house tripled to 6.6 billion euros ($7.1 billion) during Beccari’s four-year tenure, Reuters reported, citing Citi estimates.

Bernard Arnault is widely credited with transforming Dior’s fortunes over the years since he first became involved with the brand in 1984. The 73-year-old, who is worth an estimated $171 billion, has shown no intention of stepping down from his role at LVMH, with the company raised the maximum age of its CEO from 75 to 80 last year, Reuters reported.

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