The LVMH Moët Hennessy Louis Vuitton, the world’s largest luxury group, has announced several big changes in the upper management reshuffle.
Sidney Toledano, who has helped transform Christian Dior into a lucrative fashion powerhouse, is set to leave the chairman and CEO post after nearly 20 years. Pietro Beccari, currently the CEO of LVMH-owned fashion label Fendi, will replace Toledano as the new head of Dior in early 2018.
Toledano will be moving up to a chairman and CEO of the LVMH Fashion Group and replace Pierre-Yves Roussel to oversee the group’s smaller brands including Céline, Emilio Pucci, Givenchy and Loewe. Pierre-Yves Roussel will take over as a special advisor to Bernard Arnault, LVMH‘s chairman and chief executive.
“The appointment of Pietro Beccari as head of Christian Dior Couture signals a new era,” said Arnault in a press statement. “He will be an excellent leader who will steer Dior towards ever greater success in the future.”
There is currently no official announcement regarding the replacement for Beccari at Fendi.