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.
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. Credit: Ahmed Hasan/AFP/Getty Images
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.
Revenue at the house tripled to 6.6 billion euros ($7.1 billion) during Beccari’s four-year tenure, Reuters reported, citing Citi estimates.