Economy

Pietro Beccari appointed CEO of Dior (2)

Pietro Beccari appointed CEO of Dior (2)”

Roussel, who head of the group's fashion arm, will relinquish his role to become special advisor to LVMH's chief executive and chairman Bernard Arnault in January, assuming "new operational responsibilities" in the near future.

Regarding Toledano, Arnault said: "Sidney Toledano is the driving force behind the huge success of Christian Dior Couture across the world".

Toledano had been at the helm at Dior, one of the world's most storied fashion labels, since 1998, overseeing the brand as designers came and went. He was promoted to chief executive three years later.

In addition, Pietro Beccari has been appointed Chairman and CEO of Christian Dior Couture after heading up Fendi since 2012 and he also becomes an LVMH Executive Committee member, while Pierre-Yves Roussel steps down as head of the Fashion Group after ten years.

Across the fashion industry, new blood is stepping into the executive ranks amid the rise of online shopping and a sales rebound in China, with traditional markets like the US and Europe lagging behind. Sales for the brand - known for its fur coats - crossed the 1 billion-euro threshold a year ago. He did everything to drive the label's growth from store renovations to discontinuing logo-printed handbags in favour of luxury models like the 3,200 dollars Peekaboo and 5,550 Baguette dollars.

He'll take over Dior at a time when it's more important than ever to its parent company, whose full name is LVMH Moet Hennessy Louis Vuitton SE.

In what Business of Fashion calls "perhaps the greatest executive reshuffle" to occur in the fashion industry in a while, LVMH revealed that it's moving Dior and Fendi executives to different positions within the company.

LVMH recently announced several executive changes to make way for Toledano's succession, which included Nicola Brandolese, who most recently served as president of retail at Italian eyewear retailer Luxottica Group SpA, joining the company and Dom Perignon Champagne was roped in for an unspecified role on June 1.

LVMH said Beccari's replacement would be announced soon.

An LVMH spokesman declined to comment.

Bloomberg states that 50 year-old Beccari successfully brought about a transformation to Fendi from a fur specialist to a brand with an over 1 billion euros in sales.

Under his tenure, the French couture house fired designer John Galliano in 2011 after an notorious anti-Semitic outburst in public. LVMH brands including Celine, Loro Piana and Loewe recently named new heads.



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