In a wide-ranging reshuffle, LVMH Moët Hennessy Louis Vuitton today will appoint Pietro Beccari CEO of Christian Dior Couture, succeeding Sidney Toledano, who will take over as chairman and CEO of LVMH Fashion Group, according to industry sources.
Toledano will replace Pierre-Yves Roussel, who will remain with the group as a special consultant to LVMH chairman and CEO Bernard Arnault, the sources said. In his new role, Toledano will oversee brands including Céline, Givenchy, Kenzo, Loewe, Marc Jacobs and Emilio Pucci.
The moves follow months of speculation following LVMH’s 6.5-billion-euro acquisition of Christian Dior Couture in July, reuniting its fashion and fragrance activities under a single umbrella and making Dior the second-largest brand in the group’s fashion division, behind Louis Vuitton and ahead of Fendi.
A spokesman for LVMH declined to comment.
Beccari will join Dior from Fendi, which he helped to propel beyond the billion-euro revenue mark by dropping its ubiquitous logo bags in favor of more upscale products, in addition to developing lifestyle destinations like Palazzo Fendi in Rome, comprising a boutique hotel and Zuma restaurant.
Toledano joined Dior in 1994, rapidly making his mark with the launch of the Lady Dior handbag, which remains a best-seller for the brand. He was promoted to CEO in 1998 and since then has overseen a tenfold increase in the brand’s revenues.
Beccari is expected to remain at Fendi until February.