Sign in Subscribe
Chairpersons

Luxury Fashion Powerhouses Shake Up Leadership Ranks

Strategic Insights

— 1 min read

Luxury fashion behemoth LVMH cements its family ties with the promotion of Delphine Arnault, Bernard Arnault's daughter, to the top job at Dior, the group's second-biggest brand. Meanwhile, Burcherry's Jonathan Akeroyd aims to revive the brand's British heritage, while Chanel's Leena Nair emphasizes the importance of creativity and human potential. At Hugo Boss, Daniel Grieder redefines the brand's identity, and family-owned Swarovski breaks with tradition by appointing an outsider to lead the 128-year-old jeweller.

Key Takeaways:

  • LVMH, Europe's most valuable company, has promoted Delphine Arnault, 47, to top job at Dior, further cementing the family's control over the group.
  • Jonathan Akeroyd, former boss of Versace, is reviving Burcherry's British heritage to boost interest and sales, aiming for £5 billion in annual sales.
  • Chanel's Leena Nair has introduced a "freedom of creation" and "human potential" approach, while raising prices of classic handbags by 50% since the pandemic.
  • Daniel Grieder, chief executive at Hugo Boss, has redefined the brand's identity to target millennials and Gen Z customers, predicting sales to jump by up to 30% to £3.5 billion.
  • Alexis Nasard, an outsider appointed to lead Swarovski, emphasizes "joy and self-expression" and aims for the company to return to profit this year after restructuring and job cuts.

Statistics:

  • LVMH market cap: €390 billion
  • LVMH shares: hit a record high of €780 last week
  • Dior: reported "remarkable growth" for the second-biggest brand in the group's latest results
  • Burberry shares: risen nearly 30% in a year
  • Hugo Boss sales: predicted to jump by up to 30% to €3.5 billion (£3.1 billion)
  • Chanel: took €5 billion in dividends in 2021, the most recent year of published accounts
  • Swarovski revenue: hammered during the pandemic, with 6,000 job cuts and restructuring

Sources:

  • "DIOR OPENED FOR DAUGHTER?" by anonymous, Financial Times
  • LVMH's most recent results
  • Alexis Nasard's interview with Financial Times
  • Jonathan Akeroyd's interview with Financial Times
  • Daniel Grieder's interview with Financial Times
  • Leena Nair's interview with Financial Times

Read more