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BMW appoints Milan Nedeljkovic as CEO to replace Oliver Zipse

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3 days ago

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Reuters

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December 9, 2025

BWM’s supervisory board on Tuesday appointed Milan Nedeljkovic as the German carmaker’s new CEO with effect from May 14, 2026 as the carmaker launches a new generation of models in a tough market environment.

Milan Nedeljkovic, Member of the Board of Management of BMW AG responsible for production speaks at a press conference, on the BMW Group’s investment for the MINI production in the UK, at the MINI plant in Oxford, Britain, September 11, 2023 – REUTERS/Andrew Boyers/ File Photo

Nedeljkovic, ⁠aged 56 and currently the head of production, has worked for the ⁠group since 1993, it said in a statement. The Serbian-born leader who studied in Germany and Cambridge, Massachusetts, joined ‍the ‌group as a trainee and worked his way ⁠through several BMW ‌locations in Germany before joining the ‌management board in 2019.

The current CEO, Oliver Zipse, will resign, by mutual agreement with the supervisory board, at the end of May 13, ‍2026- the day planned for the 2026 annual general meeting.

Zipse, 61, whose mandate had been ‌extended ⁠until ​2026, will hand over the reins ⁠of ​a carmaker struggling to find its footing amid stiff competition from China and high US tariffs. Those ​challenges saw the luxury automaker cut its 2025 earnings forecast in October ⁠and is banking ⁠on the first model from the all-electric “Neue Klasse” series to drive growth in 2026.

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John Lewis aims to lure shoppers with new hospitality spaces

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9 minutes ago

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December 12, 2025

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December 12, 2025

Pulse-racing experiences have been big this year at many UK retail destinations, but maybe a more sedate set of attractions are needed during the hectic Christmas trading period.

John Lewis Partnership

So John Lewis Partnership has introduced three new hospitality destinations to its stores in response to the continued demand from customers to combine shopping with wider experiences. The department store retailer has opted for relaxation and refuelling. A wise choice given that JLP noted hospitality-related sales are up almost 10% over the past year.

New additions include a 250 sq ft Champagne Bar that has opened in the atrium of Peter Jones, Sloane Square; and a European first with Warabi-Mochi Kamakura (a premium Japanese brand specialising in matcha and warabi mochi, a traditional Japanese confection), officially open at John Lewis Oxford Street

Building on its success in other stores, John Lewis Southampton has also opened a new Ori Caffe, the 11th across the John Lewis portfolio.  

Katie Papakonstantinou, director of Services & Hospitality for John Lewis said: “We’re continually looking for ways to enhance the John Lewis experience, and [these additions are] a direct response to our customers’ growing desire to combine shopping with unique and enjoyable experiences.”

“Our growth in hospitality sales over the past year is a clear sign that this strategy is resonating, and these exciting new concepts are central to our commitment to making our stores a true destination – for the festive season and beyond.”

She added: “This investment in hospitality is a key component of the broader John Lewis store transformation plan which has just seen the John Lewis Bluewater complete a nearly £10 million refurbishment, as well as investments into Beauty Halls across the Liverpool, Solihull, Welwyn, and Cambridge stores.”  

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Boucheron unveils its first Chinese flagship boutique in Shanghai

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40 minutes ago

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December 12, 2025

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December 12, 2025

Boucheron is poised to open its first flagship boutique in China, in Shanghai’s Xintiandi district, following its iconic addresses at 26 Place Vendôme in Paris and in Ginza, Tokyo. This third flagship worldwide marks a major step in the maison’s international expansion and forms part of the growth strategy in Asia led by Hélène Poulit-Duquesne, Boucheron’s CEO since 2015.

Boucheron boutique in Shanghai – DR

Founded in 1858 by Frédéric Boucheron, the maison grew through four generations of his direct descendants and has established itself as a leading name in jewellery, high jewellery, and watchmaking. The first jewellery house to open a boutique on Place Vendôme, Boucheron is now part of the Kering luxury group and operates over 90 boutiques worldwide.

The new Shanghai address occupies a historic 19th-century shikumen building in the heart of the Xintiandi district. The 278 square-metre interior is organised around distinct worlds: a winter garden inspired by 19th-century European greenhouses, a Chinese forest installed in the central display cases by artist Xiaojing Yan, and a bridal suite inspired by Yu Garden, a famous Shanghai landmark.

A staircase connects the interior spaces to the VIP lounges, blending the symbolic colours of the maison and of China, and showcasing works by Jonathan Bréchignac. The VIP lounges retain the original shikumen architecture with exposed beams and brickwork, and present works by Peng Yong alongside de Gournay wallpaper motifs inspired by historic Chinese landscapes.

The boutique also features a space dedicated to Asian expertise and archival pieces, offering clients an insight into the history of Boucheron’s ties with China. The flow within the boutique is designed according to Feng Shui principles to optimise the client journey and experience, integrating wood panelling, marble, and French-style furnishings, in keeping with the maison’s DNA.

This opening forms part of Boucheron’s strategy to strengthen its presence in China, where the maison already has 17 boutiques on the mainland, and to marry French heritage with local cultural elements to offer Asian clients a comprehensive retail and heritage experience.

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LVMH’s Champagne division employees mobilise against the scrapping of bonuses

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December 12, 2025

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AFP

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December 12, 2025

According to the CGT Champagne inter-union, employees in LVMH‘s Champagne division in France are mobilising against the scrapping of a profit-sharing bonus “which has existed since 1967.”

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“The mobilisation is due to the withdrawal this year of profit-sharing at Moët & Chandon. It has been in place since 1967, and this is a first. Employees have also been informed of the cancellation of the value-sharing bonus, on the grounds that the group generated slightly lower profits,” said José Blanco, general secretary of the CGT Champagne inter-union, to AFP on Friday.

Following strikes on December 5 and 8, a rally was held on Thursday outside Moët & Chandon’s head office.

“This strike took place on Thursday in Épernay, outside Moët & Chandon’s head office, with all the group’s Champagne houses: Veuve Clicquot, Krug, Moët & Chandon… and support from other Champagne houses. Around 600 people were present,” said Blanco.

“Originally, it wasn’t supposed to be a demonstration, but an information meeting organised within Moët & Chandon. In the end, the employees gathered on Avenue de Champagne and blocked it,” explained Mr Blanco.

Further actions are being considered, but no date has yet been set. Contacted by AFP, LVMH did not comment.

LVMH’s Wines & Spirits division, which includes Champagnes (Moët & Chandon, Krug, Ruinart…) as well as wines (Château Cheval Blanc, Château d’Yquem, Château d’Esclans…), and Hennessy cognac and Glenmorangie whisky, saw a sharp decline in 2024, with revenue down 11% year-on-year to €5.9 billion.

Over the first nine months of 2025, the division’s revenue fell a further 7%, notably due to customs duties. However, the group estimated that sales returned to growth (at constant exchange rates) in the third quarter, “with an improvement in Champagne, good growth in rosé wines and still weak demand in cognac.”

According to HSBC analysts, Champagne and wine sales accounted for 4% of LVMH’s €84.7 billion revenue in 2024, and cognac and spirits sales for 3%. The bank forecasts an 11% drop in Champagne and wine sales in the fourth quarter of 2025.

The division, which announced in the spring plans to reduce its workforce, has been headed since February by the group’s former chief financial officer, Jean-Jacques Guiony, assisted by Alexandre Arnault, son of billionaire and LVMH CEO Bernard Arnault.
 

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