Billionaire Bernard Arnault who is the CEO of LVMH the world’s largest luxury group recently appointed his 47-year-old daughter as CEO of Christian Dior.
Delphine Arnault will head up that division replacing Piero Beccari who has been in charge of Dior since 2018. Beccari will replace Louis Vuitton CEO Michael Burke.
Bernard recently overtook Elon Musk in the wealth stakes as the Tesla, Twitter and Space CEO became the second richest man in December 2022.
Bernard Arnault – His net worth
According to Forbes the head of the French company has an estimated net worth of $190 billion. Delphine has worked with her father at Louis Vuitton for the last 10 years and also spent 12 years at Dior.
Burke was also chairman of jewelry arm Tiffany at one time.
“Piero Beccari has done an exceptional job at Christian Dior over the last five years. Monsieur Dior’s values of elegance and his innovative spirit have been given fresh intensity, supported by very talented designers. I am sure Piero will lead Louis Vuitton to the next level of success and desirability,” said Bernard in a press statement.
He also expressed the same sentiment to Burke who he said, “has led the extraordinary success of Louis Vuitton during the past ten years.”
Bernard lavished praised on his daughter saying that her career at the company had been “defined by excellence.”
“Under her leadership, the desirability of Louis Vuitton products advance significantly, enabling the brand to regularly set new sales records. Her keen insights and incomparable experience will be decisive assets in driving the ongoing development of Christian Dior,” said Bernard.
Second Child
Bernard’s second child Antoine is also stepping up to replace Sidney Toledano as CEO of the holding company in which the family owns into controlling stake in LVMH.
Dior like most of the luxury brands will be launching new collections and shows in the next two months as interest in luxury and fashion starts once more post pandemic.
The brand has also appointed celebrities like Travis Scott, tennis star Emma Raducanu and K-pop star Jisoo as ambassadors and collaborators.
Bernard Arnault, 73 has made no mention of stepping down from his role at LVMH and the company raised the maximum age of its CEO from 75 to 80.
Allen Weisselberg, Trump’s former CFO, gets 5 months jail for tax fraud