LVMH CEO Bernard Arnault has appointed daughter Delphine to lead Christian Dior.

She has style and solidity, and her father is the richest man in the world.

Delphine Arnault, the 47-year-old daughter of Bernard Arnault, has been appointed to the top job at Christian Dior, the company announced on Wednesday.

The heiress has worked for the family business for 22 years and most recently was executive vice president of Louis Vuitton. Previously, she was Dior’s Deputy Managing Director from 2001 to 2013.

She heads one of the LVMH companies or divisions with her four brothers, including Frederick, who is the CEO of Tag Heuer, and Alexander, 30, who has been named executive vice president of Tiffany & Co. in 2021.

Of the five, Delpin Arnault is most involved in fashion, heading the group’s fashion award for emerging designers.

The announced changes, effective in February, follow the recent appointment of Antoine Arnault, eldest son of Bernard Arnault, as head of the family holding.

Delphine Arno
Delphine Arnaud was chosen by her father to head Christian Dior.
AFP via Getty Images

Bernard Arnault is Chairman and CEO of LVMH, which owns around 75 luxury brands. His latest move to elevate Delphine is seen as increasing the family’s control over the conglomerate.

Also Wednesday, Pietro Beccari, who has led Dior since 2018, was named Louis Vuitton’s new boss, replacing longtime CEO Michael Burke, 65.

“Both [Delphine and Beccari] are respected; a logical progression within the group,” said Credit Suisse analyst Natasha Brilliant.

Burke, who is Bernard Arnault’s longest-serving lieutenant and was also chairman of jewelry label Tiffany, will continue to work alongside his wealthy father, the company said in a statement, without giving details of his new role.

Bernard Arnault, accompanied by Delphine and son Antoine.
Bernard Arnault, accompanied by Delphine and son Antoine.
POOL/AFP via Getty Images

Shares of LVMH, Europe’s most valuable company worth about 380 billion euros ($408 billion), rose 2% to hit a new high. Shares in luxury goods companies have recently gained on the easing of COVID-19 restrictions in China, a key market.

One of the fashion industry’s most influential executives, Burke has led the meteoric rise of Louis Vuitton, the world’s largest luxury goods brand, playing a key role in turning street style into a realm of luxury in recent years, for example.

Meanwhile, Beccari, who also previously ran LVMH-owned Fendi, tripled sales of Christian Dior to 6.6 billion euros during his tenure, according to Citi estimates. LVMH does not provide annual sales figures for its brands.

Pietro Beccari
Pietro Beccari, who has led Dior since 2018, has been appointed CEO of Louis Vuitton.
AFP via Getty Images
Delphine Arno
Delphine Arnault has worked for Louis Vuitton for the past ten years.
REUTERS

Beccari pushed the label on new products, including beach accessories like surfboards and hammocks, bringing them closer to customers by opening temporary outlets in resort locations including Mykonos, Greece, and Santa Barbara, California.

The CEO oversaw a major renovation of the label’s historic Avenue Montaigne address in Paris, turning it into a sprawling flagship store with restaurants and a museum, reviving the area’s foot traffic.

Dior’s runway shows in Paris, which are attended by global stars such as Jisoo and Rihanna, draw crowds of screaming fans, and the brand blew up social media with a show from menswear designer Kim Jones in Egypt last month. the pyramids serve as a backdrop.

Bernard Arnault can often be seen in the front row, surrounded by his children.

“Succession planning in strategic positions has been instrumental in the success of LVMH’s key brands over the past 20 years, so today’s moves are significant,” said Thomas Chauvet, analyst at Citi.

Louis Vuitton shop
Shares of luxury companies like LVMH have recently surged on the easing of COVID-19 restrictions in China, a key market.
ZUMAPRESS.com

The family’s growing grip on its empire also comes amid a wave of high-profile successions at other fashion companies in Europe, including Prada and Zara owner Inditex.

Bernard Arnault, 73, shows no signs of retiring anytime soon, and last year the company raised the maximum age of its CEO from 75 to 80.

All of his children hold leadership roles in the group’s brands, carefully grooming senior executives as they move up the corporate ladder.

Delphine and Antoine, 45, children from their father’s first marriage.

Alexandre Arnault is responsible for products and communications at Tiffany, while Frederic Arnault, 28, is CEO of the group’s other brand, TAG Heuer. The youngest child, 24-year-old Jean Arnault, heads the marketing and product development department of Louis Vuitton’s watch division.

As part of the change in leadership, the company is also merging Tiffany with the watch and jewelry division under Stéphane Bianchi.

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