Delphine Arnault – the 47-year-old daughter of Bernard Arnault – was promoted to the top job at Christian Dior, the company said Wednesday.
The heiress has worked for the family business for 22 years, and was most recently executive vice president of Louis Vuitton. She had previously been deputy managing director of Dior from 2001 to 2013.
She joins her four brothers in heading up one of LVMH’s companies or divisions, including Frederic who is CEO of Tag Heuer and Alexandre, 30, who was named executive vice president at Tiffany & Co. in 2021.
Of the five, Delpine Arnault has been most involved in fashion, as head of the group’s fashion prize for upcoming designers.
The announced changes, which come into effect in February, follow the recent appointment of Antoine Arnault, Bernard Arnault’s eldest son, to head the family’s holding company.
Bernard Arnault is the chairman and CEO of LVMH, which owns some 75 luxury brands. His latest move to elevate Delphine is seen as tightening the family’s grip on the conglomerate.
Also Wednesday, Pietro Beccari, who’d been head of Dior since 2018, was named the new boss for Louis Vuitton, replacing the long-time CEO, Michael Burke, 65.
“Both [Delphine and Beccari] are well respected; logical promotions within the group,” said Credit Suisse analyst Natasha Brilliant.
Burke, who is Bernard Arnault’s longest-serving lieutenant and has also been chairman of jewelry label Tiffany, will continue to work alongside the wealthy dad, the company said in a statement, without detailing his new role.
Shares in LVMH, Europe’s most valuable company at about 380 billion euros ($408 billion), rose as much as 2% to hit new highs. Shares in luxury companies have been boosted recently by the easing of COVID-19 restrictions in China, a key market.
One of the fashion industry’s most influential executives, Burke oversaw soaring growth at Louis Vuitton, the world’s largest luxury label, playing a key role for example in elevating street styles to the realm of luxury in recent years.
Beccari, meanwhile, who also previously led LVMH-owned label Fendi, increased sales at Christian Dior three-fold to 6.6 billion euros during his tenure, according to estimates from Citi. LVMH does not provide a breakdown of annual sales of its brands.
Beccari pushed the label into new products, including beach accessories such as surfboards and hammocks, bringing them closer to clients by setting up temporary retail outlets in resort locations including Mykonos, Greece, and Santa Barbara, California.
The executive steered a massive overhaul of the label’s historic Avenue Montaigne address in Paris, transforming it into a hulking flagship with restaurants and a museum, reviving foot traffic in the neighborhood.
Dior catwalk presentations in Paris, which are attended by global stars such as K-pop singer Jisoo and Rihanna, draw crowds of screaming fans, and the brand lit up social networks with a show from menswear designer Kim Jones in Egypt last month, with the pyramids serving as a backdrop.
Bernard Arnault is often spotted in the front row, flanked by his children.
“Succession planning in strategic roles has been instrumental to the success of LVMH’s key brands over the past 20 years, hence today’s moves are significant,” said Thomas Chauvet, analyst with Citi.
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, including at Prada and Zara owner Inditex.
Bernard Arnault, 73, has shown no signs he plans to step down soon and the company last year raised the maximum age of its CEO to 80 from 75.
All of his children hold management positions at brands in the group, carefully groomed by senior executives as they move up the ranks.
Delphine and Antoine, 45, are children from their father’s first marriage.
Alexandre Arnault is in charge of products and communication at Tiffany, while Frederic Arnault, 28, is CEO of another group brand, TAG Heuer. The youngest child, Jean Arnault, 24, heads marketing and product development for Louis Vuitton’s watches division.
As part of the management changes, the company is also folding Tiffany into the watches and jewelry division, under management of Stephane Bianchi.
