LVMH - The Luxury Goods Conglomerate

[GRCF]

Frédéric Arnault Named CEO of LVMH Watches

 

[LadyJunon]

Big executive changes at LVMH:

EXCLUSIVE: Michael Burke, Sidney Toledano Take New Roles at LVMH
Burke will lead the LVMH Fashion Group, while Toledano becomes an adviser to luxury titan Bernard Arnault.

By MILES SOCHA
JANUARY 18, 2024, 11:00AM

Two of the fashion industry’s most accomplished and admired executives, Sidney Toledano and Michael Burke, are taking on new roles at LVMH Moët Hennessy Louis Vuitton, WWD has learned exclusively.

Burke is to succeed Toledano at the head of LVMH Fashion Group, and with a mission that is different from 2018 when Toledano took up the role overseeing Celine, Givenchy, Kenzo, Loewe, Marc Jacobs, Patou and Emilio Pucci.

Meanwhile, Toledano will leave the LVMH executive committee and become an adviser to LVMH chairman and chief executive officer Bernard Arnault, a responsibility he will take up alongside roles at the Paris fashion school IFM, French fashion’s governing body, and family commitments.

“I am not retiring,” Toledano stressed, while citing a wish to reduce his workload and gain more personal time. “It gives me more freedom to look at the market and have a different point of view.”

The handover — Toledano called it “more a transmission than succession” — takes effect Feb. 1 and completes one of the biggest changing of the guards at LVMH in recent memory. It commenced one year ago when Burke stepped down as chairman and CEO of Louis Vuitton after a stellar 10-year tenure, handing the baton to then-Dior chairman and CEO Pietro Beccari, who in turn was succeeded at Dior by Delphine Arnault. She had been Burke’s number two at Vuitton.

As Toledano and Burke settled in for an hourlong interview with WWD in a bright conference room at LVMH headquarters, a photographer at the ready for candid shots, both men rolled their office chairs to avoid the glare of sunlight that might make them squint in photos. The gesture felt like a metaphor for the enormous mutual respect between the two men — not wishing to take too much spotlight, or to leave a beloved colleague alone in the shade.

Not that they minced words about their immense esteem for each other.

“I’m coming into this job standing on the shoulders of a giant,” Burke said. “How do I build upon this incredible success story that Sidney has written over these last years?”

For his part, Toledano said he couldn’t be happier to hand the baton to Burke.

“Who else?” he asked rhetorically, for indeed Burke was the natural candidate to take up the high-profile, multifaceted position. “Yes, he has the experience. Yes, we are friends, and more than that.…We know what the other is thinking without even talking.”

Yet beyond Burke’s experience, and his past successes leading Vuitton, Fendi and Bulgari, Toledano said he’s right for the job “because Michael can do it, and he will have challenges. I told him, ‘Michael, we still have a lot of potential and this mission is for you.'”

To be sure, both men have a solid track record of catapulting companies to new heights and profitable growth, and a strong capacity to interface with creative talents and managers alike.

According to market sources, revenues at the LVMH Fashion Group more than doubled since Toledano took over the division in 2018, with profits multiplying more than eight times.

The chief engines of the growth have been Celine, Loewe and Marc Jacobs, the same sources said.

Burke and Toledano echoed each other in stressing that all brands in the LVMH Fashion Group have enormous development potential, some requiring longer time horizons than others.

And they both agreed that leading them to greatness will require a different approach.

Providing a glimpse of his vision for the LVMH Fashion Group, Burke cited an ambition to make it the industry’s preeminent internal talent pool for creatives and managers — and a place for more risk-taking.

“The second phase of this will be more people-centric because we now have houses that can actually take risks,” Burke said.

Indeed, he characterized the LVMH Fashion Group as “a platform that can be used differently than when Sidney joined because he had to build some of the foundations.”

“A number of the Fashion Group houses now have enough depth and enough heft to be more into risk-taking when it comes to people. That means hiring people, training them and getting them ready for the biggest jobs in the group,” he said.

Does that foretell a host of high-level changes at brands under his purview?

“Not more than necessary,” Burke replied with a smile. “We don’t reposition all brands simultaneously. There is a certain amount of sequencing so that we can do it in depth.

“At any given time, there’s one or two houses that are in need of repositioning, rebuilding, re-dimensioning or redirecting, and with what Sidney has achieved, we now have more freedom to do that.”

In his view, the brands under his purview will need more TLC, of the bespoke variety.

“When you’re in a group as successful as LVMH, you can become a little risk-adverse, because we have a number of formulas that work. And we can at times fall back too much on formulas. What will make these houses successful is remaining true to their iconic status, remaining true to their origins, remaining true to the specificities of each house,” Burke explained.

It is understood Burke’s stable of brands will be expanded to include Fendi, where he was CEO from 2003 to 2012, setting it on an impressive growth trajectory and proving his ability to immerse himself deeply into the culture of a brand and build strong business pillars around it.

In the interview, the executive stressed that design, communication, manufacturing and distribution must be controlled directly by each LVMH maison. “And I will fight like a devil to make sure that the Fashion Group houses will have customized, bespoke tools at their disposition,” he said, stressing, “It’s not about scalability, it’s about uniqueness. It’s about creating unique desires, and unique ways of communicating.”

In Burke’s estimation, the “three enemies” of business success are arrogance, bureaucracy and complacency.

By contrast, he argued that LVMH companies “are always managed with a very positive energy that tomorrow will be better. That’s our fundamental value. We like to have fun, and we’re very passionate about what we do. We don’t aim for the average — we aim high, we aim far into the future.”

Both men frequently lauded Jonathan Anderson’s masterful reinvention of Loewe, whose revenues are believed to be approaching 2 billion euros, fueled by the designer’s daring designs and storytelling built around craft in fashion, film, art and more.

“He came up with an entirely different way of communicating that really resonates with the Loewe customer, and that didn’t come from LVMH,” Burke enthused about the designer, who hails from Northern Ireland and whose dalliances with Loewe’s historic home of Spain had been limited to vacations in Ibiza before he joined the Madrid-based house in 2013.

Near the top of Burke’s to-do list will be helping to decide on the next artistic director at Givenchy following the exit of Matthew M. Williams at the conclusion of his initial three-year contract. He and Toledano sat together at the brand’s menswear show on Wednesday.

During a wide-ranging interview, they steered clear of discussing plans for specific brands, though both men have a reputation for bold recruitment choices — and spectacular business results.

When Phoebe Philo stepped down at Celine at the end of 2017, the appointment of Hedi Slimane as her successor “was not an obvious decision,” Toledano said. “Frankly, if we had used artificial intelligence, I don’t think the software, the algorithm would have given the name of Hedi Slimane.”

Before exiting Dior, Toledano appointed Maria Grazia Chiuri as its seventh couturier — a decision based largely on intuition and soft criteria, and one that has propelled the brand into the stratosphere. Previously, he had worked with John Galliano and Raf Simons at Dior, in addition to Slimane and Kris Van Assche for the men’s universe.

Sidney Toledano
Sidney Toledano THOMAS CHÉNÉ/WWD
In a press release shared first with WWD, Arnault noted that Toledano “has identified and promoted numerous creative talents who are now among the world’s most recognized designers.”

“With his unique strategic vision, he played a pivotal role in making Dior the world’s most prestigious and admired fashion maison,” while as head of the LVMH Fashion Group, “his creative leadership contributed to the spectacular growth of our fashion maisons, which benefited from his deep experience to further heighten their desirability,” Arnault said.

He noted Toledano would “remain very much involved as my adviser and will continue to share his passion and exacting professionalism with all the group’s teams. He still has a tremendous amount to bring us.”

Among Burke’s masterstrokes was recruiting Virgil Abloh, founder of Off-White, as Vuitton’s artistic director of menswear in 2018, which brought the house buzz, cultural currency and a mold-breaking creative figure whose impact reverberates still. Burke is also said to have had a strong hand in wrangling Japanese streetwear guru Nigo for the top design job at Kenzo.

According to market sources, Vuitton’s revenues tripled during Burke’s tenure, with profitability leaping fourfold.

Commenting on Burke’s latest role in the press release, Arnault noted that the executive has been at his side even before the creation of LVMH, initially working on residential real estate in the U.S. in the early ’80s before joining Christian Dior stateside in 1986.

“He has always been a key player in the group’s success, in particular thanks to the remarkable discernment and finesse of his work at the head of Fendi, Bulgari and Louis Vuitton,” Arnault said. “His extensive experience and his passion for craft and creativity are invaluable assets to pursue and further accelerate the dynamic growth of the maisons in the LVMH Fashion Group.”

Toledano is similarly optimistic.

“I don’t know other groups in the industry already having two giant brands and preparing very big companies as well,” Toledano said, referring to Louis Vuitton and Dior, and his view that “four or five” of the Fashion Group brands harbor potential to be very big.

Both men are firm believers in having the right combination of CEO and creative director, but also matched to the right brand.

Toledano described it as his “triangle theory,” with the center of gravity in the middle of those three elements. “If you take talented CEO and a talented designer and you give the wrong brand, I’m afraid it will not work,” he said.

“The relationship is an osmosis,” Burke piped in. “You can’t recognize the individual parts once it’s happened. And when that happens, it’s not twice as much or four times as much, it’s 100 times more powerful than something that is management-driven and authoritarian. When the teams notice that this osmosis is occurring, that the triangle is happening, everything comes instantaneously.”

A charismatic, cerebral and well-rounded executive with a fun-loving streak and a ready laugh, Burke is known for his ability to motivate teams, meshing well with creative types and for thriving on complexity.

Born in the French Alps, Burke had a peripatetic childhood since his father was in the air force. He grew up in the U.S., went to high school in Germany and then enrolled in business school EDHEC in Lille, France, going on to work as an intern for an associate of Arnault.

After Dior, Burke next served as president and CEO of Louis Vuitton North America from 1993 until 1997, when he moved to Paris, ultimately becoming Toledano’s number-two position at the fashion house.

After eight years leading Fendi in Rome, Burke was conscripted in 2011 to take up the management helm at Bulgari SpA, which LVMH had acquired earlier that year. He brought two signatures of his brand leadership to Bulgari: surprise and speed.

At the end of 2013, he was moved over to Louis Vuitton, where he initiated an upscaling drive that changed the brand’s fortunes, and scope.

Toledano is perhaps best known for his eventful 18 years as CEO of Christian Dior Couture, nimbly steering the French fashion house through many delicate creative transitions, economic and other crises. He was widely admired for his decisive and dignified handling of John Galliano’s fall from grace in 2011, and managing strong growth in the aftermath, first with Galliano’s deputy Bill Gaytten and then Raf Simons.

Toledano famously expanded the Dior business tenfold, transforming the company from a licensing-driven operation to one centered on control of production and distribution.

An engineer by training, Toledano’s strong financial and analytical skills are married to a passion for the fashion industry. After getting his engineering degree from École Centrale Paris, he started his career at market research firm A.C. Nielsen.

His first step into fashion came when a friend of his invested in French firm Kickers, known primarily for its shoes and children’s clothes. After two years, he was recruited by Lancel — a pivotal move that let him “discover the world of leather goods,” which would become the engine of the luxury goods sector.

In 1993, Toledano joined Dior to help Arnault build a leather goods business for the storied French house. By 1998, he assumed the management helm and initiated its global expansion.

A right brain/left brain type, Toledano has a knack for managing creative leaders, and boasts a gold-plated Rolodex of industry contacts.

Now as adviser to Arnault, he sees the role extending beyond LVMH companies to other matters and subjects, be it related to a certain geography or creative conundrum. “It will be advice from experience — a connected one, not operational,” he noted.

In the press release, Toledano noted that he and Arnault “share a passion for innovation, creativity, excellence and passing on savoir-faire. It is thanks to his bold vision that the LVMH Group is today a global leader.”

Outside of LVMH, Toledano is chairman of the board of the Institut Français de la Mode; president of the Chambre Syndicale de la Haute Couture; a member of the Fédération de la Haute Couture et de la Mode’s executive committee, and a board member of French luxury association Comité Colbert.

Source: WWD

 

[GRCF]

Big executive changes at LVMH:

Source: WWD

Interesting move for Sidney considering that it was reported he was intending to retire last year.

There was some reporting on Alexandre and Frederic being put forward to join the board. Lots of moves at LVMH.

 

[GRCF]

In case you haven't had enough LVMH.... Coming to a screen (or streaming service) near you.

LVMH 22 Montaigne Entertainment: Anish Melwani Talks Strategy, Project Parameters and Goals​

Melwani is overseeing the venture to explore LVMH maisons' potential across film, TV and audio.

By BOOTH MOORE
FEBRUARY 23, 2024, 10:01AM
Global luxury leader LVMH Moët Hennessy Louis Vuitton this week signaled its intent to get more deeply into the entertainment business with the launch of 22 Montaigne Entertainment, a venture to explore the potential across film, TV and audio for its more than 70 maisons, including Dior, Louis Vuitton, Tiffany & Co., Moët & Chandon and more.

The venture was created in partnership with Superconnector Studios and its cofounders Jae Goodman and John Kaplan, who come from marketing backgrounds. They were initially connected to LVMH through their former Creative Artists Agency colleague Hector Muelas, who is now chief brand officer at Tiffany & Co.

“During his orientation, they took him to the Tiffany archives and we got a text from him that just said, ‘I need your help,'” is how Kaplan tells it. “He saw a library of the most amazing tales that nobody knows that have to do with Tiffany — pens that signed declarations of peace and love letters from the most famous people in the world across the last 100 years and the jewelry that went with it….He saw the master plans for sports trophies, and said, ‘How come nobody knows about this?'”



That led to meetings with LVMH, and the concept for 22 Montaigne, which will find and fund compelling stories about Tiffany and other brands featuring premium talent that could be podcasts, documentaries, feature films and more.

“Look at what ‘Sideways’ did for pinot noir,” Kaplan said about how the 2005 film juiced production and popularity of the wine. “Could Champagne get a similar lift?” he suggested of the LVMH mainstay, which is facing headwinds in popularity as younger consumers turn away from alcohol.

Of Superconnector’s experience, Kaplan explained that he and his partner have worked with every category of brand at CAA, highlighting as brand-building bona fides the “Hardest Working Person in America” series of films by Oscar-winning director Albert Maysles for Mitchum deodorant that ran on the Sundance Channel, and Goodman’s experience establishing Nike’s Waffle Iron Entertainment.

“We already have a bunch of development going on,” he said, adding that LVMH has brand stories that appeal to many groups. “There’s a Louis Vuitton story for someone who likes Pharrell [Williams] and there’s a Louis Vuitton story for my mom…though my mom actually loves Pharrell. And my kids love Sephora.”

A “Sephora Sweep,” perhaps? Kaplan said everything is on the table.

In terms of distribution, streamers like Amazon, Netflix and Apple+ in particular are looking for partners to get audiences to screens, and LVMH offers deep pockets, wide social reach and live events (including the runways) for cross-marketing.

The 22 Montaigne Entertainment venture will be overseen by a committee of LVMH executives led by Antoine Arnault, who is the group’s head of image and environment, among other roles, and Anish Melwani, chairman and chief executive officer of LVMH North America.

On Thursday, WWD Zoomed with Melwani to chat about the parameters of the entertainment push, and the mechanics of how it will work with the LVMH portfolio of brands.



WWD: Why did you decide to partner with these guys out of all the people in Hollywood?

Anish Melwani: We got connected because one of our colleagues had worked with them before. And they had done the reference example, which is Nike Waffle Iron Entertainment. What I learned in my limited exposure to the industry so far is, there are really very few organizations — I don’t know of any other ones to be honest — that are focused on working with brands. They don’t represent talent, they’re not a studio themselves. But they really have the skill set because they come from the agent side, they come from the production side, and they’ve got some senior folks who come from platforms like Netflix. But they’ve set as their mission to work with brands. These guys we felt were really well aligned with what we’re trying to do.

WWD: Is there content they’ve produced that you admire?

A.M.: I think there is some good content there. But more, just what does it mean for a brand or in our case, a house of brands to be involved in this industry? And by the way, that’s still frankly a question that’s in the process of being defined. I don’t think there are a lot of examples of it.

WWD: Are there stories that you have in mind telling already? And are you looking to start projects from the ground up, or hook into things already in process?

A.M.: This is a two-way dialogue between our maisons and the industry. They could be stories directly about our brands, like “The New Look,” for example, or that having our brands getting involved with would enhance the beauty of the authenticity of the storytelling. And we want to give them a way to find us. Then to the extent that folks in our maisons have stories that they would love to see told, but they also want to figure out if they are really commercially exciting stories…we need an organized pathway to allow them to do that.


The Apple TV+ production “The New Look,” starring Ben Mendelsohn, is the kind of fashion entertainment project LVMH is looking to develop on its own. COURTESY OF APPLE TV+
WWD: What was the test case for you for how entertainment can help the bottom line of your maisons?

A.M.: The connecting piece to that is culture and entertainment has always been a far more powerful mover of culture than advertising. And the other piece is with the rise of streaming. Much of the affluent population in the world pays not to have their entertainment interrupted by advertising. So, of course, we’re still doing advertising and that’s a part of our business model.…But now people are able to consume entertainment that’s more suited to them, and they don’t want it to be disrupted by advertising.…So perhaps this is a moment where organizing it a bit more will make sense.



WWD: Will everything you do be branded, like a Marc Jacobs biopic? Or could it be something more subtle like a limited series about a crazy family of Champagne makers that happens to mention some LVMH brands?

A.M.: It could be any of the above. This is explicitly not about product placement. There are already product placement deals, and there’s a very well-groomed process that’s going to continue to work as it has. This is really about storytelling.

WWD: Will it also be about controlling the narrative or will there be freedom, which traditionally has led to better fashion entertainment content?

A.M.: It’s a great point. And everything will depend on the project. Of course there are elements that we have to make sure are protected because we would not want to be involved in something that shows elements of our maisons or histories in a negative light. On the other hand, my personal bias is if we don’t give the storytellers the freedom to do what they do, what their gift is, then frankly we won’t get to work with the best storytellers. And the stories won’t be as compelling to the audiences.

WWD: Do you see doing more mass projects and more niche ones?

A.M.: There’s no constraint, I don’t know whether you would call “The New Look” mass or niche, it doesn’t matter because it’s certainly very well done.

WWD: But some of the LVMH documentaries have been more niche and esoteric.

A.M.: Documentaries in general tend to be more niche than scripted, but there really is not, at least for me, and in my conversations with Antoine and with Mr. [Bernard] Arnault and the other leaders in the group, any preconceived notion. There could be a podcast series that emerges from this, potentially.

WWD: Audio is also included in your strategy…would that include producing music?

A.M.: This is really more about longer-form storytelling. So it doesn’t mean that I don’t want to but again.…I’m not sure that there’s as much of a need.…The music industry knows how to reach us and a lot of artists use our brands and names in their work and stuff like that. So I don’t know that there’s as much of a need for this sort of organization that we’re putting together.



WWD: One of the pain points in the intersection of fashion and Hollywood content has always been that there’s often a lack of alignment in terms of timing with being able to sell product through that content. Is there any plan to bring these two worlds together more closely so that would be possible?

A.M.: That’s not the design. At the end of the day, what the boss [Bernard Arnault] has always said is you build brand desirability for the business and the sales follow afterward. So this is really about our heritage, our DNA, these amazing stories that we tell in our way already. If you go into a Louis Vuitton retail store and you ask them about the Noe bag, they’re going to tell you about how that bag was designed to hold five bottles of Champagne. That’s actually what defined the thing. If you’ve seen our Christian Dior exhibit, that’s another form of storytelling that we do really well. Entertainment storytelling is another skill. The commercial goal is really about another path to building brand desirability by finding a way for great entertainment storytellers to come into contact with the IP and heritage that we have in our maisons, and hopefully those come together in something cool.

WWD: Do you have any projects that are already lined up or any idea of how many you want to do this year or the pace of this thing?

A.M.: Honestly, no. But to answer your first question there are a few projects that are already in discussion that came out of some early meetings before we even made a decision to formalize this and put some structure around it. And with 75 maisons it’s impossible to try to say what the scale is going to be. But that’s also part of the point, that it’s not really a centralized effort. Because it’s not like we’re going to do 10 projects that LVMH is going to decide to do. It’s more like we’re probably going to get pitched, I don’t know, 30 projects, and those will go to the relevant maisons and maybe out of those 13 —and I’m totally making this up — so maybe 10 of them will be ones that the maisons will get excited about and want to put some energy into getting together with the storyteller to take it forward. It’s each maison’s own decision; it’s not like there’s a constraint at the corporate level.



WWD: Was there any sort of looking around at what other players are doing in the Hollywood space, Kering with CAA, for example, that spurred this?

A.M.: Honestly no. Again, to be clear, with no disrespect to what they’re doing, this was much more of an evolution of like you gave the example yourself of “The New Look,” and I don’t know if you remember the documentary “Dior and I” about Raf Simons’ first Dior couture collection. We were already kind of doing this but doing it very ad hoc.


Raf Simons in a still from the 2014 film “Dior and I,” which was produced by LVMH. COURTESY PHOTO
WWD: Will there be dedicated offices for this in Paris?

A.M.: This is super asset-light. I’ve got a couple of people on my team who will help with some of the organization. We’re going to be working together with some of the other executives in Paris, our finance team, our image team under Antoine. But the idea is not to build a bureaucracy for this because at the end of the day, the maisons always decide whether or not it’s something that’s exciting for them or not. So it’s much more about giving them qualified introductions.

WWD: LVMH has some of the deepest pockets in the world. Are you going to have a lot of financing to direct toward this because you’re going to be having people knocking down your door?

A.M.: I mean, again, ultimately, the question will be up to every maison. So if a project is presented and the storyteller is looking for financing and the maison wants to put in financing, that’s their P&L [profit and loss], it is their prerogative. There’s no budget at the group level to go do this. And, frankly, I think the bias is against it. Because what everyone in the industry is taught is that when you have a great storyteller and a great project, and everyone’s feeling it, there’s not a problem getting financing. But that being said, if there is a need for some financing, to get something to a certain stage in order for that vision to be able to be seen by the distributors or what have you, getting that’ll be something we can consider but it will really be the maison’s call because it’s their brand.

WWD: And will this work both ways, like if Pharrell wants to make a movie, can he come to you and pitch something about his journey at LV with a certain storyteller?



A.M.: We’ve not designed this with constraints.

Source: WWD

 

[Lola701]

Interesting…
It’s definitely interesting to me to see brands being more involved in cinema recently.

Chanel started it years ago when they were more involved than usual in the productions of their ambassadors films and when they used their ambassadors in the films Karl did.

Kering took a step forward by owning a talent company and it will be interesting to see how involved they are going to be in their ambassadors films.

Saint Laurent is already enrolled in the production of movies…

And now this.
Documentary is a format I always prefer when it comes to fashion. I think biopics are good for the legend of a designer but there’s nothing better than following the designer while he is doing a collection.
The Marc Jacobs and Louis Vuitton, the Dior & I are examples that both serves as promotional tools and entertaining movies.

I would love to see a documentary on the 20 years of Nicolas for Vuitton with the focus on his latest collection. A documentary on Victoire de Castellane designing a Haute Joaillerie collection.

Biopic is still a weird genre for me when it comes to fashion even though the Chanel and YSL movies were interesting.

 

[GRCF]

I would love to see a documentary on the 20 years of Nicolas for Vuitton with the focus on his latest collection. A documentary on Victoire de Castellane designing a Haute Joaillerie collection.

I would love to see this as well. I enjoyed the Marc Jacobs/LV and Dior & I documentaries. As someone who likes to get into the details of the making of a product, I'd love getting behind the scenes looks at the making of RTW or Haute Couture collections. Both AppleTV and Netflix are great at docuseries or documentaries, I can see this type of content there. HBO and Amazon can be a hit or miss with documentaries. I would stick to this type of content, I don't see them doing scripted well.

The product placement in TV and film makes me want to barf though. I already spotted a lot of Celine in an episode of The Morning Show.

 

[LadyJunon]

Michael Burke has appointed Pierre-Emmanuel Angeloglou as the managing director to oversee LVMH's smaller fashion houses:

EXCLUSIVE: Michael Burke Adds a Wingman at LVMH Fashion Group
Pierre-Emmanuel Angeloglou becomes managing director of LVMH Fashion Group and will oversee Fendi, Kenzo, Marc Jacobs, Pucci, Stella McCartney, Patou and Off-White.

By MILES SOCHA
MARCH 6, 2024, 6:16AM

PARIS — Making his first major hire as chairman and chief executive officer of fast-growing LVMH Fashion Group, Michael Burke has brought over Louis Vuitton executive Pierre-Emmanuel Angeloglou to become his deputy, WWD has learned.

Executive vice president, strategic missions, at Vuitton since 2022 and a key builder of its menswear business, Angeloglou officially starts Monday as managing director of LVMH Fashion Group, reporting directly to Burke.

Angeloglou is to take over the direct responsibility for Fendi, Kenzo, Marc Jacobs, Pucci, Stella McCartney, Patou and Off-White, while the Fashion Group’s largest and fastest-growing properties, Celine and Loewe, fall directly under Burke.

The executive was spotted not far from Burke’s elbow at several shows during Paris Fashion Week, which wrapped on Tuesday.

“I am delighted to team up again with Pierre-Emmanuel,” Burke said in a statement shared exclusively with WWD, calling Angeloglou a “key player” in Vuitton’s success story.

“His capacity to articulate a compelling vision, coupled with the empowerment vested in his teams, will enable the Fashion Group Division to fully embrace the objective of heightening the magic of these extraordinary maisons, with their amazing capacity for innovation and their unique history and savoir-faire,” Burke commented.

A seasoned L’Oréal executive, Angeloglou was global brand president of L’Oréal Paris, the world’s largest beauty label, when he joined Vuitton in 2019, initially as strategic missions director for fashion and leather goods.

He was handed responsibility for its men’s division in 2020, then exploding under creative director Virgil Abloh. Under Burke’s guidance, Angeloglou built the men’s business up to 5 billion euros, market sources estimate.

Angeloglou took on increasing responsibilities at Vuitton as an executive vice president, also adding women’s accessories, digital innovation, visual merchandising and communication to his remit.

Prior to steering L’Oréal Paris, Angeloglou for three years held the position of general manager of L’Oréal’s Consumer Products Division in North Asia and for four years oversaw that division in Brazil, according to his LinkedIn profile.

Angeloglou was also general manager of Lascad in Paris and global vice president of L’Oréal Paris skin care. He joined L’Oréal in 1996, starting as a product manager in Italy and then France. He holds degrees from HEC Paris and CEMS.

In a major changing of the guard at LVMH Moët Hennessy Louis Vuitton involving two of the industry’s most accomplished and admired executives, Burke succeeded Sidney Toledano at the head of LVMH Fashion Group last month.

Toledano become an adviser to LVMH chairman and CEO Bernard Arnault, a responsibility he took up alongside roles at the Paris fashion school IFM, French fashion’s governing body, and family commitments.

Last year, Michael Burke bowed out of Vuitton after a stellar 10-year tenure as its chairman and CEO, during which revenues tripled to exceed 21 billion euros, with profitability leaping fourfold, according to market sources.

Source: WWD

 

[Lola701]

Fendi wow!
In 5 years, they went from being a top growing brand to be alongside below Loewe and Celine. What are they waiting for to get rid of Kim Jones!?

 

[GivenchyAddict]

The fact that LVMH puts Fendi on the same level as Patou and Off-White gives me a huge headache... Kim Jones must pay for his crime.

 

[NYLA22]

Sigh...

Jeff Bezos only lasted a few days as the world's richest person — now it's Bernard Arnault again

Bernard Arnault, CEO of LVMH, has taken the title of the world's richest person after Jeff Bezos held the top spot for less than a week.

www.businessinsider.com

 

[LadyJunon]

Arnault reclaiming his n°1 spot from Bezos:

Source: I-d

 

[GRCF]

​

Bernard Arnault Receives Highest French Honour

The French businessman, founder of luxury conglomerate LVMH, received the Grand-Croix de la Legion d’Honneur at the Elysee Palace.

www.businessoffashion.com

France is so interesting to me. I can imagine the kind of s**t an American president, mostly a Democrat, would get if they had such a particular relationship with Tim Cook or Bill Gates. Can you imagine if Jill Biden was dressed exclusively by one of the most expensive brands, attended that brand's runway shows, had dinners with the owner/spouse of the owner of that brand constantly. Fox news would have a field day. I admire French presidents for not caring about optics, good for them lol

 

[GivenchyAddict]

And the First Lady was even a teacher to some of his children back then.

 

[yslforever]

​

Bernard Arnault Receives Highest French Honour

The French businessman, founder of luxury conglomerate LVMH, received the Grand-Croix de la Legion d’Honneur at the Elysee Palace.

www.businessoffashion.com

France is so interesting to me. I can imagine the kind of s**t an American president, mostly a Democrat, would get if they had such a particular relationship with Tim Cook or Bill Gates. Can you imagine if Jill Biden was dressed exclusively by one of the most expensive brands, attended that brand's runway shows, had dinners with the owner/spouse of the owner of that brand constantly. Fox news would have a field day. I admire French presidents for not caring about optics, good for them lol

Tbh Nicolas dresses her well, they are friends, it suits her and she looks younger than her age, a bit like Claude Pompidou in her prime (yeah I know I am old).
Chanel would definitively age her terribly, it's already so matronly and frumpy on the runway, just imagine the disaster it would be on 70 yo woman.

 

[Lola701]

​

Bernard Arnault Receives Highest French Honour

The French businessman, founder of luxury conglomerate LVMH, received the Grand-Croix de la Legion d’Honneur at the Elysee Palace.

www.businessoffashion.com

France is so interesting to me. I can imagine the kind of s**t an American president, mostly a Democrat, would get if they had such a particular relationship with Tim Cook or Bill Gates. Can you imagine if Jill Biden was dressed exclusively by one of the most expensive brands, attended that brand's runway shows, had dinners with the owner/spouse of the owner of that brand constantly. Fox news would have a field day. I admire French presidents for not caring about optics, good for them lol

It’s just a cultural difference…
Beyond the fact that LVMH and the luxury sector in general represents an major part of the country’s economy, there’s a long tradition in France where the Haute Bourgeoisie and the aristocratie kind of mingle together at large. And those people are heavily present in political circles…

François Pinault received his Grand Croix from Macron too.

You cannot understands French politics without taking in consideration that despite being a republic, it still has a lot of influence from it past as a kingdom and empire.

 

[gallianostan]

​

Bernard Arnault Receives Highest French Honour

The French businessman, founder of luxury conglomerate LVMH, received the Grand-Croix de la Legion d’Honneur at the Elysee Palace.

www.businessoffashion.com

France is so interesting to me. I can imagine the kind of s**t an American president, mostly a Democrat, would get if they had such a particular relationship with Tim Cook or Bill Gates. Can you imagine if Jill Biden was dressed exclusively by one of the most expensive brands, attended that brand's runway shows, had dinners with the owner/spouse of the owner of that brand constantly. Fox news would have a field day. I admire French presidents for not caring about optics, good for them lol

that's because france actually takes pride in its culture and fashion industry, unlike the united states.

 

[Phuel]

Arnault reclaiming his n°1 spot from Bezos:

Source: I-d

Can't stop watching! God— who’s that model??? Such a masterclass moment of just how astutely synchronized models were on the runway: She didn’t miss a beat. Her shove was so to the beat of the security ripping the annoying woman off the runway, that it convincingly resembles a choreography that they had been rehearsing all day. They really don’t make models like they used to…

 

[lookatme]

^^Nadine Strittmatter

 

[Nimsay]

Didnthat person really characterize american democrats as being above kissing up to billionaires. Truly. I could never be so self deceiving.

 

[GRCF]

I've totally forgotten about Glossier. I used to buy their products until they started selling at Sephora. I don't see it as a luxury company, but I could say the same for several of LVMHs maisons. So I wonder how this acquisition (if true) will change Glossier's strategy.

Glossier & LVMH: A Love Story?

The proto-millennial beauty brand is now in “deep” conversations about a sale to LVMH, as the French fashion conglomerate eyes Glossier’s expansion into fragrances.

puck.news