Bernard Arnault the new Dior head after father

Key Takeaways:

• As part of organisational changes at LVMH, the most valuable European company, Mr Arnault promoted Delphine Arnault.
• The goods produced by Mr Arnault’s companies include Louis Vuitton designer bags, Moet champagne, and Chandon.
• The CEO of Prada, Patrizio Bertelli, recently declared his intention to transfer control of the company to his son Lorenzo within two years.

It’s daughter after father, as Bernard Arnault, the world’s richest man, has appointed his daughter as the new Dior head. 

Mr Arnault promoted Delphine Arnault as part of organisational changes at LVMH, the most valuable company in Europe.

It has a portfolio of high-end brands, such as Fendi and Louis Vuitton, and is estimated to be worth £336 billion.

Pietro Beccari, the departing CEO of Dior, will take over for Michael Burke, the longtime CEO of Louis Vuitton.

As per Credit Suisse analyst Natasha Brilliant, these are “logical promotions within the group” since both Ms Arnault as well as Mr Beccari “are well respected.”

All five of Mr Arnault’s children hold management positions at the group’s brands.

The changes, which go into effect in February, follow the current appointment of Antoine Arnault, Bernard Arnault’s eldest son, as CEO of the family holding company.

Whereas Frederic Arnault, 28, is the chief executive of some other group brand, Tag Heuer, Alexandre Arnault, 30, controls products and communications at Tiffany.

In charge of product development and marketing for Louis Vuitton’s watch division is the youngest kid, Jean Arnault, 24.

The products sold by Mr Arnault’s businesses, such as champagne created by Moet as well as Chandon and designer luggage by Louis Vuitton.

As per Citi analyst Thomas Chauvet, “Succession planning in strategic roles has been crucial to the success of LVMH’s key brands and over the past 20 years, so today’s moves are significant.”

Global celebrities like K-pop star Jisoo and singer Rihanna attend Christian Dior’s catwalk presentations in Paris, attracting fervent crowds of fans.

Since 2013, Delphine Arnault has come of LVMH’s Louis Vuitton division as the executive vice president.

As per the LVMH, Louis Vuitton achieved new sales highs under Ms Arnault’s direction.

Other significant fashion companies have recently implemented similar succession plans.

The daughter of Inditex’s founder was appointed as the company’s new chairwoman in 2021. Inditex is a main player in high-street fashion and owns brands such as Zara and Massimo Dutti. Marta Ortega, who was 37 years old, was there.

Patrizio Bertelli, the CEO of Prada, recently announced his intention to hand over the firm’s reins to his son Lorenzo within two years.

Bernard Arnault surpassed Elon Musk to become the richest person in the world in December 2022.