Bernard Arnault is widely credited for transforming Dior’s fortunes over the years.
Courtesy | The billionaire named his daughter as successor to the major luxury brand
The billionaire owner of the Lvmh luxury group, Bernard Arnault, has appointed his daughter Delphine as the new director of Christian Dior.
The 47-year-old will serve as president and CEO of the French brand starting in February, following a major shakeup at the conglomerate behind brands including Louis Vuitton, Fendi, Givenchy and Tiffany & Co.
Arnault, whose father became the world’s richest man last month, will leave Vuitton, where she has served as executive vice president since 2013.
She had previously spent over a decade at Dior and was heavily involved in the Lvmh Award for Young Fashion Designers.
In a press release, Bernard Arnault described his daughter’s career at the company as “marked by excellence.”
“Under his leadership, the appeal of Louis Vuitton products advanced significantly, allowing the brand to regularly break new sales records,” he said.
“His insight, insight and unparalleled experience will be decisive assets in driving the continued development of Christian Dior,” he added.
Delphine Anault joins the brand seeking to recapture the sustained growth it enjoyed prior to the covid-19 pandemic.
The move also comes as Dior, like the rest of the luxury fashion industry, prepares for a busy season with major shows and new collections. In the next two months, the brand will present new menswear, haute couture and ready-to-wear lines for women at the next edition of Paris Fashion Week.
The announcement follows a series of recent changes introduced by Lvmh, including the appointment to a new role of Arnault’s second son, Antoine, who will take over as CEO of the holding company through which the family owns its majority stake in Lvmh. He will replace executive Sidney Toledano.
It was also announced that outgoing Dior boss Pietro Beccari will take over at Louis Vuitton, whose current CEO Michael Burke will remain at Arnault’s luxury empire in a hitherto undisclosed role.
The conglomerate’s share price rose on news of the reorganization.
In a statement, Bernard Arnault praised Beccari, who has been at Dior since 2018, for his “exceptional” work. Along with creative directors Maria Grazia Chiuri and Kim Jones, who head the women’s and men’s divisions respectively, the Italian executive oversaw several major developments at the brand, including a move into beachwear and a major revamp of the store’s flagship. brand in Paris.
In recent years, Dior has also named powerful celebrity ambassadors and collaborators, from Travis Scott to tennis star Emma Raducanu to K-pop star Jisoo.
Meanwhile, the brand hosted increasingly ambitious shows, including a spectacular nighttime show that used the illuminated pyramids of Giza as the backdrop for its Fall 2023 menswear collection, and expanded its presence in Asia.
Last year, the fashion house hosted a show in South Korea for the first time.
Sales tripled, to 6.6 billion euros (regarding $7.1 billion), during Beccari’s four-year tenure, Archyde.com said, 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.
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