LVMH names new Louis Vuitton CEO, puts Arnault daughter in charge of Dior

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LVMH names new Louis Vuitton CEO, puts Arnault daughter in charge of Dior
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LVMH Chairman and CEO Bernard Arnault has reshuffled top management at his luxury goods empire, tightening his family's grip with the appointment of his daughter Delphine to lead Christian Dior, and naming a new boss for Louis Vuitton.

Pietro Beccari to replace Michael Burke at Louis VuittonChairman and CEO Bernard Arnault has reshuffled top management at his luxury goods empire, tightening his family's grip with the appointment of his daughter Delphine to lead Christian Dior, and naming a new boss for Louis Vuitton.

Shares in LVMH, Europe's most valuable company at about 380 billion euros , rose as much as 2% to hit new highs. Shares in luxury companies have been boosted recently by the easing of COVID-19 restrictions in China, a key market. One of the fashion industry's most influential executives, Burke oversaw soaring growth at Louis Vuitton, the world's largest luxury label, playing a key role for example in elevating street styles to the realm of luxury in recent years.

The label's fashion shows in Paris, which are attended by global stars such as K-pop singer Jisoo and Rihanna, draw crowds of screaming fans, and the brand lit up social networks with a show from menswear designer Kim Jones in Egypt last month, with the pyramids serving as a backdrop.

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