Michael Burke is bowing out of Vuitton after a stellar 10-year tenure to take up new responsibilities and work directly with Bernard Arnault.
The management shuffle at LVMH could trigger other creative and executive shifts at the vast conglomerate, whose fashion holdings includeFor now, it marks a homecoming for Delphine Arnault, who was Dior’s deputy general manger from 2008 until 2013, when she moved over to Vuitton as second-in-command.
Speaking of her tenure at Vuitton, he said the desirability of products “advanced 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.” It also marks the second time Beccari has succeeded Burke. In 2012, Beccari became chairman and CEO ofafter Burke took the management helm of Bulgari SpA. Delphine Arnault also succeeds Beccari for the second time in her career: She had taken over Beccari’s responsibilities when she first arrived at Vuitton, and now takes his place at Dior.
In Wednesday’s statement on the management chang, Bernard Arnault lauded Beccari for doing “an exceptional job” at Christian Dior over the past five years. He also built ready-to-wear into a multibillion-euro business, and one generating high levels of profitability in the range of 30 percent – flying in the face of assumptions that fashion is a loss-leading image vehicle to sell handbags.
According to market sources, Vuitton’s revenues tripled during Burke’s tenure to exceed 21 billion euros, with profitability leaping fourfold. Insiders say Burke had an uncanny knack for making business people fall in love with beautiful products – and creative types with business success. After graduating in 1980 with a master of business administration, he moved to the U.S. to work full-time for Arnault, initially on residential real estate at various family holdings before joining Christian Dior in the U.S. in 1986.
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