Frederic Arnault, one of the five children of LVMH, opens new tab chairman and CEO Bernard Arnault, will become chief executive of the group's high-end Italian cashmere label Loro Piana in June, the world's biggest luxury group said in a statement.
The move is part of an ongoing extensive top management reshuffle as a new generation rises through LVMH's ranks.
All of Bernard Arnault's children hold top management positions in the company, with Frederic heading LVMH's watches division for the past year.
While Bernard, 76, has given no indication he intends to step down any time soon, his children are all closely watched for signs of moving ahead in the race to succeed him one day.
Damien Bertrand, who currently heads Loro Piana, will become deputy CEO of Louis Vuitton and will join the group's executive committee next year while Pierre-Emmanuel Angeloglou will join Christian Dior Couture as deputy CEO, reporting to Delphine Arnault.
The new CEO of Fendi will be announced shortly, LVMH added.
Frederic Arnault, 30, was previously CEO of watch brand Tag Heuer and played a key role in LVMH's 10-year Formula 1 sponsorship deal, announced last year.
He will join Loro Piana in March for a transition period alongside Bertrand, who oversaw a surge in growth at the label.
Loro Piana, which sells "Gift of Kings" loafers priced at 1,700 euros ($1,853) and lightweight cashmere coats at over 10,000 euros, became a symbol of the success of the fashion industry's quiet luxury trend, as wealthy clients sought more discreet styles in the post-pandemic period.
Frederic Arnault will report to his father's former long-time deputy, Toni Belloni, who stepped down a year ago and moved to Italy to head the group's operations there.
Donatella Versace is to step down as the main designer for the Versace brand after almost three decades, a move that has fanned talks of a sale of the business to rival Italian fashion house Prada.
An acquisition of Versace by Italian luxury group Prada, opens new tab would create a company with a broader base that is more resistant to business cycles, but reviving the targeted brand could take years and hit short-term profits.
An Italian court has lifted the special administration imposed on a unit of the Armani fashion group over concerns regarding the labour practices of its Chinese-owned subcontractors. The court ruled that the company had taken all necessary corrective measures.
Islamophobia is a form of fear, prejudice, and hatred that incites threats, insults, provocation, and violence against both Muslims and non-Muslims, both online and offline. As it evolves into structural and cultural racism, it targets Muslim symbols and values.
The G7 countries reaffirmed their support for Ukraine's territorial integrity and sovereignty. They positively assessed the meeting between the US and Ukraine held on March 11 in Saudi Arabia, emphasizing the importance of a ceasefire.
Armenian Prime Minister Nikol Pashinyan has briefed Russian President Vladimir Putin on a finalised draft peace agreement with Azerbaijan in a phone call with Vladimir Putin. Kremlin said on that Friday conversation was initiated by the Armenian side.
At least five people were killed and 27 injured when a concrete beam from an under-construction expressway bridge collapsed on Rama 2 Road in Thailand. Authorities are searching for missing individuals as investigations into the cause continue.
Germany's election-winning conservative CDU/CSU bloc, led by Friedrich Merz, and the Social Democrats (SPD) have reached an agreement in principle with the Greens on a significant increase in state borrowing ahead of next week’s parliamentary vote.
XPeng Motors plans to mass-produce flying cars by 2026, becoming the first company globally to do so. CEO He Xiaopeng also highlighted advancements in autonomous driving and humanoid robotics as part of the company’s future tech initiatives.
World leaders welcomed the 30-day ceasefire proposal that Ukraine has agreed to, calling it a step toward ending the conflict with Russia.
Regarding the Armenia-Azerbaijan process, we cannot forget the years of occupation, and we will not forget them, President Ilham Aliyev said in his speech at the opening ceremony of the 12th Global Baku Forum.
In Tuesday’s closely watched parliamentary election, Greenland’s pro-business opposition Demokraatit party took a commanding lead after over 90% of the ballots were counted.
BioNTech forecasts a revenue decline for 2025, expecting between 1.7 billion and 2.2 billion euros, down from 2.75 billion euros last year. This drop is due to Pfizer write-downs and stable vaccination rates. BioNTech also plans significant job cuts and new hires.
Sean "Diddy" Combs is due to be arraigned in Manhattan federal court on Friday after a new indictment added allegations of forced labour in connection with his long-running sex trafficking scheme. Combs faces charges related to racketeering, sex trafficking, and the coercion of employees to work und
Donatella Versace is to step down as the main designer for the Versace brand after almost three decades, a move that has fanned talks of a sale of the business to rival Italian fashion house Prada.
XPeng Motors plans to mass-produce flying cars by 2026, becoming the first company globally to do so. CEO He Xiaopeng also highlighted advancements in autonomous driving and humanoid robotics as part of the company’s future tech initiatives.
A U.S. judge on Tuesday suggested he may dismiss the New York Times from Justin Baldoni’s $400 million defamation lawsuit, where the actor claims the newspaper colluded with Blake Lively to damage his reputation.
At the 97th Academy Awards, *Anora* emerged as the biggest winner, taking home the coveted Best Picture and Best Director awards. The star-studded event, hosted by Conan O'Brien, also celebrated outstanding performances, with Adrien Brody and Mikey Madison claiming Best Actor and Best Actress.
Islamophobia is a form of fear, prejudice, and hatred that incites threats, insults, provocation, and violence against both Muslims and non-Muslims, both online and offline. As it evolves into structural and cultural racism, it targets Muslim symbols and values.
The G7 countries reaffirmed their support for Ukraine's territorial integrity and sovereignty. They positively assessed the meeting between the US and Ukraine held on March 11 in Saudi Arabia, emphasizing the importance of a ceasefire.
Armenian Prime Minister Nikol Pashinyan has briefed Russian President Vladimir Putin on a finalised draft peace agreement with Azerbaijan in a phone call with Vladimir Putin. Kremlin said on that Friday conversation was initiated by the Armenian side.
At least five people were killed and 27 injured when a concrete beam from an under-construction expressway bridge collapsed on Rama 2 Road in Thailand. Authorities are searching for missing individuals as investigations into the cause continue.
Germany's election-winning conservative CDU/CSU bloc, led by Friedrich Merz, and the Social Democrats (SPD) have reached an agreement in principle with the Greens on a significant increase in state borrowing ahead of next week’s parliamentary vote.
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