The luxury company, which also includes brands including Marc Jacobs, Givenchy, Mot & Chandon, Fenty Beauty, and Tiffany & Co., was cofounded in 1987 by her 73-year-old father, the CEO of LVMH.Delphine was in charge of all product-related operations at Louis Vuitton, LVMH’s largest brand. From 2001 through 2013, she served as Dior’s deputy managing director. Pietro Beccari departs to lead Louis Vuitton, and she takes his position.Arnault is now estimated by Bloomberg to be worth $178 billion, making him by a significant margin the richest person in the world. Elon Musk, the CEO of Tesla and SpaceX, has a net worth of around $50 billion less than he does.The four brothers of Delphine Arnault are also employed by LVMH and its businesses. Alexandre is an executive vice president at Tiffany & Co., Fru00e9du00e9ric is the CEO of Tag Heuer, Jean is the director of watches development and marketing at Louis Vuitton, and Antoine is the CEO of Christian Dior SE, the holding company the family employs to oversee LVMH.Source :- IndiatimesDelphine Arnault’s appointment is another milestone in a career journey in fashion and leather goods defined by excellence, Bernard Arnault said in a statement. First during her 12 years at Christian Dior and then during the past 10 years at Louis Vuitton where she was number two with responsibility for all of the Maison’s product activities.\Louis Vuitton was able to consistently establish new sales records thanks to her leadership, which considerably increased the demand for the brand’s goods. Her astute observations and unparalleled expertise will be crucial advantages in guiding Christian Dior’s continued growth Added he.In the first nine months of 2022, LVMH reported revenues of $56.5 billion and does not break out financial data by brand.The Paris-listed company’s shares were up 1.6% on Wednesday, valuing it at 386 billion euros ($414 billion).According to Citi analyst Thomas Chauvet, who spoke to Reuters, Today’s actions are noteworthy because succession planning in critical roles has been fundamental to the success of LVMH’s core brands over the previous 20 years.Share your thoughts with us in the comments.
