Dior brand changed hands for the first time in 20 years, the original CEO was promoted to head of LVMH fashion group

In a statement, LVMH stated that Pierre-Yves Roussel, Chairman and CEO of the former LVMH Fashion Group, will continue to serve as the special advisor to Bernard Arnault, Chairman and Chief Executive Officer of LVMH Group.

Since then, heads of brands such as Céline, Givenchy, Kenzo, Loewe, Marc Jacobs, Pucci, Rossi Moda and Nicholas Kirkwood of LVMH Fashion Group will report to Sidney Toledano.

In June this year, LVMH Group acquired Christian Dior Couture, Dior's high fashion business under the Dior Group (which is also a major shareholder of LVMH) for 6.5 billion euros, and integrated its perfume and fashion business. After the transaction, the Dior brand became the second-largest fashion brand under the LVMH Group, second only to the flagship brand Louis Vuitton, and Fendi ranked third.

Above: Pietro Beccari (left) and Sidney Toledano (right)

Bernard Arnault, Chairman of the Board of LVMH Group, stated that the appointment of Pietro Beccari as Chairman and CEO of Dior marks a new era. He is very optimistic about the future prospects of Dior under the leadership of this new head of the company.

Bernard Arnault also affirmed Sidney Toledano’s solid foundation for Dior’s global success in the past 25 years and expressed his vision for future cooperation between the two parties.

In the end, he spoke highly of Pierre-Yves Roussel's outstanding achievements in the selection of design talents, the implementation of innovation strategies, and the leadership of the efficient teams of each brand during the ten years of his tenure as LVMH Fashion Group.

Sidney Toledano I recently said in an interview that this change in his position has been carefully thought out and he left Dior to leave a good memory for the brand and his personal life. Bernard Arnault's commitment to the LVMH Fashion Group's responsibilities to Sidney Toledano means that for the latter, it means completely different new management work. It is a great honor for him to prove his new opportunities.

Sidney Toledano joined Dior in 1994. Evergreen’s best-selling Lady Dior handbags have quickly established his reputation in the industry. In 1998, after Sindey Toledano was promoted to Dior’s CEO, he saw the brand's sales revenue increase by a factor of ten.

During his time at Dior, Sidney Toledano transformed Dior from an empowered business driver to a luxury brand that focuses on production and distribution. Currently, 95% of Dior's sales come from its own stores, and the authorized business only retains the cooperation with the Italian eyewear manufacturer Safilo. Sidney Toledano has led the Dior brand's various types of creative design talents (including women's, men's and children's wear designers, jewellery, watch designers and home product designers). He said that the current position of Dior Women's Creative Director Maria Grazia Chiuri will not change in this personnel change.

This year coincided with the 70th anniversary of the establishment of the Dior brand. Dior's brand review exhibition held at the Les Arts Décoratifs Decorative Arts Museum in Paris set a record for the number of visitors in the museum in July.

Sidney Toledano expects Dior haute couture business sales to exceed 2 billion euros this year. Exane BNP Paribas estimates that Dior brand retail sales total to 8 billion, including all branded product lines including beauty products (including terminal sales for wholesale and licensing businesses and branded direct retail sales). Around the euro. Sidney Toledano did not comment on this forecast, but he stated that Dior still has a lot of room to grow. He is full of confidence to the new CEO Pietro Beccari and will provide him with the greatest support.

Pietro Beccari said in an interview that he will join Dior with a humble learning attitude and devote himself wholeheartedly to his goal of “repaying LVMH’s trust with brand performance” to create an iconic brand that represents France and the Arnault family.

Pietro Beccari will move from Fendi headquarters in Rome to Paris in February next year. So he used to work for the French brand Louis Vuitton. He called the move "go home."

The 50-year-old Pietro Beccari was born in Parma, Italy. He is able to communicate in French, English and German. He was a professional football player and started his career in the British consumer goods giant Reckitt Benckiser (Regent), responsible for international marketing. Since then, he has been working at the Italian dairy company Parmalat in New York for several years, and then worked for the German consumer goods giant Henkel for a decade. In 2006, Pietro Beccari switched from the strategic director of Henkel to Louis Vuitton, responsible for the clothing and accessories department, and worked with Marc Jacobs, the brand's artistic director.

Since 2009, he has been promoted to Louis Vuitton’s Executive Vice President of Global Communications and Marketing. During Louis Vuitton, he worked closely with Bernard Arnault's son Antoine Arnault, CEO of the French luxury men's shoe brand Berluti, and was also the president of the Berluti board of supervisors.

Pietro Beccari served as Chief Executive Officer of Fendi in 2012. During this period, he made great contributions to the development of higher-end commodity markets for this one-billion-euro brand, setting up luxury brands marked by Rome's Palazzo Fendi global flagship boutiques, high-end luxury hotels and Zuma restaurants. Lifestyle brand model.

He enhanced the overall luxury of the Fendi brand, emphasizing the brand's Roman roots and highlighting the brand image in fur and handicrafts. Under the brand reform led by Pietro Beccari, Fendi's target consumer groups tend to be mature and younger.

The headquarters of Fendi was officially relocated to the historic building near the Roman Monument in 2015. It is located in Square Colloseum. The opening space on the first floor, which is open to the public, has received more than 100,000 visitors since its opening.

In addition, Pietro Beccari also promoted Fendi's overall sense of art. Recently, the brand signed a cooperation agreement with Galleria Borghese, a museum of art in Rome. Pietro Beccari promoted several projects highlighting Fendi's cultural links with the headquarters of Rome, including repairs to several fountain buildings in Rome. In July of last year, Fendi celebrated the 90th anniversary of the brand's high-define fur presentation, Haute Fourrure, in one of the fountains, the Trevi Fountain.

It is reported that Pietro Beccari will help find new successors for Fendi. Fendi’s new CEO will be announced soon.

Pierre-Yves Roussel has been the head of the LVMH Fashion Group for 10 years. After this change of personnel, he will soon share the new operations with the LVMH Executive Committee. He has been in the committee for 14 years. However, in an interview with the US website WWD, Pierre-Yves Roussel himself stated that he intends to take a vacation for a while before he begins to take charge of the new job.

Pierre-Yves Roussel has laid the foundation for the LVMH Group's so-called “second-tier brand” in the past decade. Many of these brands were small brands or faced losses before Pierre-Yves Roussel arrived, which provided him with a broad opportunity to develop his leadership skills and practice ideas.

In this process, the most commendable is that Pierre-Yves Roussel appointed Céline creative director Phoebe Philo. This female designer has completely changed the brand's appearance and injected new vitality into it; Kenzo (Tagata) was struggling. Kenzo.) After Pierre-Yves Roussel introduced the duo Humberto Leon and Carol Lim from the Opening Ceremony, he became a hot brand. He also brought the British designer Golden Boy Jonathan Anderson to the Spanish leather goods brand Loewe.

Under the leadership of Pierre-Yves Roussel, these brands have achieved amazing growth of 5 to 7 times. Pierre-Yves Roussel expressed his emotions, which confirms the success of Bernard Arnault's multi-brand portfolio strategy. However, many analysts believe that LVMH should sell these brands as soon as possible to focus on the development of Louis Vuitton, Parfums Christian Dior and Dom Perignon and other "first-line leading brands."

Pierre-Yves Roussel, summing up his experience, said: "We could have made these brands develop faster, but we have learned to control the rhythm." Always remember to "try with vision" and "agile and focused" is His two principles, he firmly believes that "talents decide everything." But fashion is always accompanied by challenges. For instance, Pucci and Marc Jacobs of LVMH are still looking for a road to transformation.

Pierre-Yves Roussel has strengthened the concept of gender equality in recent years' management. He recently hired three female CEOs: Sylvie Colin, CEO of the original French luxury brand Maje, now heads Kenzo; CEO of the original French luxury men's shoe brand Berluti Séverine Merle is currently in charge of Céline; the former Pascale Lepoivre of Céline is now in charge of Loewe.