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LVMH announces key executive appointments at Louis Vuitton, Loro Piana, and Dior

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Translated by

Nazia BIBI KEENOO

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March 12, 2025

Fresh off the heels of Paris Fashion Week, LVMH is shaking up the leadership of some of its biggest brands. Damien Bertrand, CEO of Loro Piana, is stepping into a new role at Louis Vuitton, while Frédéric Arnault takes over Loro Piana. Meanwhile, Pierre-Emmanuel Angeloglou, who currently leads Fendi, is set to become CEO of Christian Dior Couture.

“The success of our maisons is driven by dedicated and visionary leaders,” said Bernard Arnault, chairman and CEO of LVMH, in an official statement. “Damien, Frédéric, and Pierre-Emmanuel bring exceptional leadership, entrepreneurial vision, and a commitment to excellence. Their appointments reflect our strategy of cultivating top talent within the group.”

A strategic shift for LVMH’s powerhouses

Starting April 15, 2025, Pierre-Emmanuel Angeloglou will take over Christian Dior Couture, reporting directly to Delphine Arnault. He will oversee business operations, finance, and legal affairs, working closely with Delphine, with whom he has already formed a strong partnership. His successor at Fendi is expected to be announced soon.

Pierre-Emmanuel Angeloglou named CEO of Christian Dior Couture – LVMH

At Louis Vuitton, Damien Bertrand will enter his new role on June 10, 2025, reporting to CEO Pietro Beccari. He will take charge of product divisions, brand communication, business strategy, sustainability, and industrial operations. He is also set to join the LVMH executive committee in January 2026.

Damien Bertrand appointed deputy CEO of Louis Vuitton
Damien Bertrand appointed deputy CEO of Louis Vuitton – LVMH

Meanwhile, Frédéric Arnault will take over Loro Piana starting March 26, allowing for a transition period with Damien Bertrand, before officially assuming leadership on June 10, 2025. He will report to Toni Belloni, chairman of LVMH Italy, while his replacement at LVMH Watches is expected to be announced soon. This promotion also solidifies his position within both the LVMH leadership structure and the Arnault family hierarchy.

Frédéric Arnault appointed CEO of Loro Piana
Frédéric Arnault appointed CEO of Loro Piana – LVMH

Strategic moves amid luxury market challenges

These leadership changes highlight LVMH’s strategy to strengthen the management of its most profitable brands at a time when the luxury market faces increasing challenges. The restructuring comes on the heels of a downturn in 2024, positioning LVMH to navigate shifting industry dynamics and sustain long-term growth.

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Allbirds reports steep revenue decline in 2024

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22 minutes ago

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March 12, 2025

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Sustainable footwear and lifestyle brand Allbirds announced on Tuesday fourth-quarter net revenue fell to $55.9 million, as the footwear firm grappled with international distributor transitions and planned retail store closures.

Allbirds reports steep revenue decline in 2024. – Allbirds

The San Francisco-based sustainable footwear and apparel company said that sales decreased 22.4% for the three months ending December 31, as a result of lower unit sales within its direct business.

For the full-year 2024, net revenue decreased 25.3% to $189.8 million versus a year ago. As a result of the plummeting sales, the U.S. company reported a net loss in 2024 of $93.3 million, or $11.87 per basic and diluted share.

“2024 was a year of progress both operationally and financially,” said Joe Vernachio, chief executive officer. 

“We strengthened our operating model, driving gross margin expansion and cost reduction, while also bolstering Allbirds’ international presence via new distributor agreements. Importantly, we reignited our product and marketing engines, which is expected to fuel improvement in trend in the second half of the year, including our return to top line growth in the fourth quarter. We are continuing to operate with financial discipline as we focus on further advancing our plans around product, marketing, and customer experience.”

Looking ahead, the company expects 2025 net revenue to be in the range of $175 million to $195 million, with U.S. net revenue of $145 million to $160 million.

For the first quarter of 2025, net revenue is expected to be in the range of $28 million to $33 million, with U.S. net revenue of $22 million to $25 million. 

The company’s outlook for the full year reflects approximately $18 million to $23 million of negative impact to revenue associated with the transition from a direct selling model to a distributor model in international markets, as well as the closure of 20 Allbirds stores in the U.S., encompassing 2024 and year-to-date 2025.

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American Eagle sees annual revenue below estimates as 2025 off to slow spending start

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March 12, 2025

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Reuters

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March 12, 2025

American Eagle Outfitters annual revenue below expectations on Wednesday, joining other major U.S. apparel makers that expect a demand slowdown as shoppers battle the likelihood of pressured budgets again.

American Eagle

Apparel makers and retailers such as Walmart, opens new tab and Target have struck cautious expectations for the year as an uncertain economy burdened by U.S. President Donald Trump‘s seesaw tariff announcements has turned shoppers discerning on buying non-essential items.

“Entering 2025, the first quarter is off to a slower start than expected, reflecting less robust demand and colder weather,” said CEO Jay Schottenstein.

The company expects fiscal 2025 revenue to decline in the low-single digit percentage range, while analysts were expecting a 2.97% rise, according to data compiled by LSEG.

Shares of American Eagle rose 2% in extended trading after slightly edging past quarterly revenue estimates.

Its quarterly revenue fell to $1.61 billion, from $1.68 billion, compared to the analysts’ estimate of $1.60 billion, according to data compiled by LSEG.

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EU to impose counter tariffs on $28 billion in US goods

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1 hour ago

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March 12, 2025

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Reuters

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March 12, 2025

The European Union will impose counter tariffs on 26 billion euros ($28 billion) worth of U.S. goods from next month, the European Commission said on Wednesday, ramping up a global trade war in response to blanket U.S. tariffs on steel and aluminium.

Reuters

U.S. President Donald Trump‘s increased tariffs of 25% on all steel and aluminium imports took effect on Wednesday as prior exemptions, duty free quotas and product exclusions expired.

The European Commission said it will end the current suspension of tariffs on U.S. products on April 1 and will also put forward a new package of countermeasures on U.S. goods by mid-April.

The suspended tariffs apply to products ranging from boats to bourbon to motorbikes, and the EU said it would now start a two-week consultation to pick other product categories.

The new measures will target around 18 billion euros in goods, with the overall objective to ensure that the total value of the EU measures corresponds to the increased value of trade impacted by the new U.S. tariffs, the EU said.

The proposed target products include industrial and agricultural products, such as steel and aluminium, textiles, home appliances, plastics, poultry, beef, eggs, dairy, sugar and vegetables.

“Our countermeasures will be introduced in two steps. Starting with 1 April and fully in place as of 13 April,” Ursula von der Leyen, the president of the European Commission, said in a statement.
“We are ready to engage in meaningful dialogue. I have entrusted Trade Commissioner Maros Sefcovic to resume his talks to explore better solutions with the U.S.,” von der Leyen added.
 

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