Jean-Louis DELAMARRE

Up to 75% on 11.11 And a usual of 15-25% depending on the platforms! That is the reality of the Chinese market! China is not easy and expensive to handle! Very common mistake is assuming that #china is cheap. China requires a completely different strategy, quite expensive to put in place! https://lnkd.in/gEh55YUx

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Another release from RetailX is covering the Luxury sector "2024 Global Luxury Report" that provides a comprehensive overview of the luxury goods market, showing a significant recovery and growth across various segments. Here are the crucial findings and projections from the report: 1. Market Growth and Regional Analysis:   - The global luxury goods market reached $354.81 billion in 2023, an increase from $312.63 billion in 2022.   - Asia leads in revenue generation with $135.2 billion, with significant contributions from Europe and the US. 2. Consumer Spending and Demographics:   - Luxury fashion remains the dominant segment, accounting for a third of the total expenditure.   - Millennials and Gen Z are prominent consumers, showing increased participation in luxury spending.   - Significant geographic variances in spending per consumer, with the highest spending in the US and Europe. 3. E-commerce vs. Physical Stores:   - Despite the growth of e-commerce, physical stores continue to be the preferred shopping channel, accounting for the majority of luxury purchases.   - Mobile shopping is particularly prevalent in Asia, indicating a trend towards digital platforms. 4. Sustainability and Ethical Consumption:   - Consumers are increasingly leaning towards sustainable and ethical luxury products, with nearly half expressing a preference for sustainable luxury clothing.   - The second-hand luxury market is also expanding, reflecting a shift towards more conscious consumption patterns. 5. Technological Innovations and Future Trends:   - The luxury sector is embracing digital innovations, including the use of social media, virtual reality, and the metaverse to engage consumers.   - Future trends indicate a continued increase in online shopping, with innovations in social commerce and live shopping experiences expected to gain traction. 6. Challenges and Opportunities:   - The luxury market faces challenges from economic fluctuations and changing consumer preferences.   - Opportunities for growth exist in tapping into emerging markets and enhancing digital engagement strategies. It underscores a dynamic industry that is adapting to technological advances and shifting consumer values, particularly towards sustainability and ethical practices. The luxury sector remains robust, driven by younger demographics and innovative marketing strategies. #trend #luxury #strategy #sustainability

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We’re buying dreams, not handbags CHANEL’s CEO, Leena Nair defended the brand’s pricing after it raised the cost of one of its best-known handbags to more than USD 10,000. Its medium Classic bag cost around USD 5,800 in 2019. Chanel joins several other power brands in increasing prices. Earlier this year Hermès and Louis Vuitton also announced prices in Asia were going up by 6-20%. How is it that some brands feel confident enough to raise prices given the weakness of the luxury market? I think that it’s largely down to incredible storytelling that has created such brand power. If you haven’t watched the video advert Chanel produced earlier this year for the flap bag starring Brad Pitt and Penelope Cruz in a remake of “A Man and a Woman”, I encourage you to. The response was overwhelming with fans crying out for a full-length film. Luxury companies are selling us dreams not products. When you can make people dream, prices become less relevant. This is one of the big differences between premium brands and luxury brands. You buy the latest Apple iPhone for its new functionality. But when you buy a Chanel bag, it’s not just for the bag itself, it’s for how it makes you feel. I’d love to know what you think. #storytelling #luxury #prices #premium Smith Square Partners https://lnkd.in/eszvpkZT

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Recommended article 🧐: « growth” versus “fixed” mindsets among individuals and within organizations…. » « To briefly sum up the findings: Individuals who believe their talents can be developed (through hard work, good strategies, and input from others) have a growth mindset. They tend to achieve more than those with a more fixed mindset (those who believe their talents are innate gifts)… » #learning #growth #growthmindset

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"Mistakes are just life's quirky breaks." At Maison SEPTEM , we believe in the power of authenticity and growth. We are more than 900strong, committed to connecting our networks to support and grow together. I want to take a moment to thank you for being here and remind you of the content I share on my LinkedIn profile. Here, you will find: ➡️ Messages that highlight the value of work in its entrepreneurial and professional roles within Maison Septem - to celebrate identity in its professional context ❤️ ➡️ Professional and personal experiences to help you avoid similar mistakes ✨ ➡️ Key insights from my expertise in sales, marketing, procurement and communication to share proven tips that will boost your productivity and, ultimately, your profits 💶 In short, I firmly believe in the power of true sharing and the richness that comes from it. Looking forward to enriching myself further by reading and engaging with you. Meanwhile, keep taking care of yourself physically but especially mentally 🔥 #Authenticity #Growth #Networking #ProfessionalDevelopment #Entrepreneurship #PersonalGrowth #Productivity

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The latest on RetailWire ➡ Levi Strauss & Co. has launched a revamped store in Kyoto, Japan, adopting the “NextGen” format aimed at improving the shopping experience. The newly reopened Levi’s store, located in the Teramachi Kyogoku shopping district, occupies a spacious 570 square meters across four levels. This expansion makes it more than double the size of its predecessor, which had just two floors. And this isn’t your typical Levi’s store in any standard shopping center or location. Through a combination of store design layout and locally tailored offerings, it makes a statement and aims to generate more sales from its community and beyond. ⬇ My comments featured below ⬇ "Levis’ localized strategy across the store experience and product mix could be the winning strategy that all retailers need to consider. But Levi’s must have exceptional product obsessed store associates on the shop floor to make this concept successful. I would love to see more retailers take this hyper localized + experiential approach to their stores but I am not sure they would make this investment. They are too concerned with reducing operating costs and most strategies today are reactive. Inventory management is still a top concern and until retailers can get their product assortment in check, their focus will not be innovating their stores." ➡ Checkout the discussion here: https://lnkd.in/eTbCq9qj #retail #retailwire #braintrust #retailnews #levis #stores #technology

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Cartier, Chloe, Van Cleef & Arpels and Buccellati owner Richemont Group has been in the news for all sorts of reasons recently: Louis Ferla succeeds Cyrille Vigneron as CEO of Cartier Catherine Rénier succeeds Nicolas Bos as Chief Executive Officer of Van Cleef & Arpels and last but not least LVMH’s Bernard Arnault has become personal stakeholder in Richemont. This change has been driven by solid performance in a sector that many businesses are struggling in: #Richemont Group FY24 📈 Sales +3% - driven by jewellery and retail and representing 69% of group sales 📈 Solid profit for the year from continuing operations of €3.8bn; €1.5bn loss from discontinued operations associated with the write-down of Yoox Net-a-Porter assets 📈 Cash position €7.4bn 📈 Regional growth was led by APAC; Japan reported +20% YOY growth 📈 The US is now the group's largest individual market 📈 Groups directly operated stores +5% 📈 Purchased Gianvito Rossi 🏭 Sales by region: Europe €4.44bn APAC €8.2bn Americas €4.5bn Japan €1.7bn Middle East and Africa €1.6bn 🏭 Sales by distribution channel; Retail €14.2bn Online retail €1.2bn Wholesale and Royalties €5.1bn 🏭 Revenue split by business area: Jewellery 69% Specialist Watchmakers 18% Other 15% (Fashion&Accessories maisons, Watchfinder, Watch component manufacture, Real Estate) 🏭 Revenues by distribution channel: Retail €14.2bn Online retail €1.2bn Wholesale and Royalties €5.1bn Jewellery Maisons: FY24 € 14.2bn FY23€13.4bn ✅ Cartier: - Key store openings : New York, Mumbai, Chongqing, Sydney and Frankfurt airports - the 2023 Cartier Women's Initiative awards ceremony was launched with a keynote by Amal Clooney. Attended by 1000+ entrepreneurs, public personalities, non profits and companies. ✅ Buccellati: - 7 new stroes opened (Zurich, San Francisco, Hangzhou, Sanya, Macau, Seoul, Osaka) - 2 pop ups in Capri and Beijing ✅ Van Cleef & Arpels: - opened new stores in new countries including Mexico, Spain, Austria, Vietnam, and new cities including Palo Alto, Austin, Jinan, Kaohsiung and Perth Specialist Watchmakers: FY24 €3.7bn FY24 €3.8bn (A. Lange & Söhne, Baume & Mercier, IWC, Jaeger Le Coultre, Panerai, Piaget, Roger Dubuis, Vacheron Constantin) Other business: FY24 €2.6bn FY23 €2.6bn (Alaïa, Chloé, Montblanc, Pudre, AZ Factory, Delvaux, Dunhill, Gianvito Rossi, Peter Millar, Purdey, Serapian, Watchfinder&Co) People 👫 Richemont obtained a global gender Equal- Salary certification recognising its ongoing practice of building a gender-inclusive workplace 👫Richemont is committed to equitable pay and benefits - this has been achieved in each country of operation ESG 🌎 Recognised in 2023 by the Carbon Disclosure Project for environmental performance, receiving an A- score for climate change - this puts the group amongst the top 22% of global respondents 🌎 In 2023 97% of electricity consumption came from renewable resources - the group is targeting 100% by 2025"

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Post 2 #VivaTech: LVMH's Dream Garden redefines omnichannel LVMH exhibit was a unique journey of tech, craftsmanship, innovation, and creativity from LVMH Maisons. After listening to speakers, immersing myself in panels, testing innovative experiences and discussing with startups nurtured within La Maison des Startups - LVMH, I'd like to highlight three unique experiences that stood out to me for their potential to enhance omnichannel journies through key principles. Louis Vuitton's Les Extraordinaires AI-Configurator is a transformation for client assistance: This AI-powered tool allows sales assistants to focus fully on clients while the AI handles product recommendations. Using Natural Language Processing (NLP), as Stephan Emanuely demonstrated to me, the AI configurator listens to the sales assistance, understands client preferences and generates personalised suggestions. This streamlines the purchasing process, facilitates upselling and cross-selling, and provides real-time information on product availability and lead times, enriching the client-sales associate dialogue for a more meaningful and efficient shopping experience. The rise of AI-powered recommendation tools, as seen in SEPHORA Store of the Future and Moët Hennessy's AI sommelier, showcased by Mélanie S., has transformed how consumers discover and engage with products. The LV AI-Configurator takes this trend to new heights. Loro Piana Digital Silhouette is transforming personalisation:  Bruno Grangeiro, IT innovation manager showed me the coolest try-on solution I came across at the conference. The journey starts with a scan to detect measurements. This data is processed by a generative AI algorithm, creating a doppelganger and a personalised digital lookbook of Loro Piana garments tailored to body shape. This tech enhances sales through better visualisation, increases engagement, and streamlines inventory management by understanding customer preferences. It is also a way to connect with younger audiences and foster deep storytelling (clients of the brand likely know their devotion to the amazing storytelling behind their world-class fabrics). Bvlgari's Allegra Mixology Co-Creation:  Generative AI mixology experience invites customers to become the "DJ" of their own fragrance journey. By blending various essences, customers co-create a unique scent that reflects their individuality. This interactive and personalised approach to fragrance selection elevates the experience from a mere purchase to a creative expression. I enjoyed discussing with Chiara Ambrosi how this experience contributes to a high conversion rate and the amazing artefacts that clients co-create with Bulgari. Congrats Ennio Piccirillo, MBA. These experiences collectively demonstrate LVMH's commitment to transforming retail into a personalised, engaging, and customer-centric journey. What was your favourite? #VivaTech2024 #Innovation #Omnichannel #LuxuryTech #RetailInnovation #FutureOfRetail #GenerativeAI

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Is luxury cracking ? That’s the question #luxury industry observers seem to be asking these days. Following a post-pandemic boom, luxury brand sales have softened considerably, with spending hit by economic and geo-political concerns and touching key markets like China and the U.S.   ☑ Industry observers don’t only blame the external context for this decline but cite the backfiring of many brands’ recent price increases. For example, Eugene Rabkin in a recent Op Ed for The Business of Fashion openly questions this strategy, relaying that the average price of luxury goods in Europe has increased by 52 percent since 2019, according to HSBC. Brands have raised prices and protected their margins, but there is a perceived backslide in quality, that social media content creators have not been shy to publicize. ☑ Price increases don’t seem to be consistently translating to better redistribution of value across luxury supply chains, even if luxury brands are paying attention to living wages for workers these days.  Bloomberg reporter Marcelo Rochabrun hit a cord earlier this year with an investigative story that explored Vicuña sourcing by Loro Piana and called out the dissymmetry between the Peruvian communities involved in the animals’ shearing, who live in poverty, and the $9,000 price tag on a single sweater made from Vicuña wool. ☑ The gaps between rich and poor continue to widen, with some luxury brands targeted by social protestors. Demonstrators attacked LVMH headquarters in Paris in April 2023, over French retirement system reforms, and a future hotel site again last February. In 2023, 52% of French people admitted to not liking the wealthy. Twenty years ago, only 25% held this opinion, indicating a significant shift in societal perceptions of wealth and a loss of confidence in upward mobility. According to Oxfam, since 2020, the five wealthiest men in the world have more than doubled their fortune. During the same period, the combined wealth of over 60% of humanity has decreased. ☑ Luxury brand executives have not been immune to the increasingly polarized world and its repercussions on the industry. Some brands have embraced the idea of delivering stronger cultural value, perhaps best embodied by Louis Vuitton’s ambition to become a cultural powerhouse, weaving strong interlinkages between pop culture, entertainment, sports and brand identity, according to journalists Kati Chitrakorn and Adrienne Klasa. If luxury is cracking, what will it take to heal? Cultural value? Leadership values? A more meaningful sharing of value (i.e. wealth) with actors across the chain? Or perhaps all of the above… #luxury #sustainability #sustainableluxury #sustainablefashion Photo Credit: Sierra Club

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👟 🌟 𝐀𝐝𝐢𝐝𝐚𝐬 𝐜𝐨𝐮𝐥𝐝 𝐛𝐞𝐧𝐞𝐟𝐢𝐭 𝐟𝐫𝐨𝐦 𝐍𝐢𝐤𝐞’𝐬 𝐢𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐨𝐧 𝐬𝐭𝐫𝐮𝐠𝐠𝐥𝐞𝐬, 𝐌𝐨𝐫𝐠𝐚𝐧 𝐒𝐭𝐚𝐧𝐥𝐞𝐲 𝐬𝐚𝐲𝐬 The sneaker game is evolving, and adidas is stepping up its style! 🚀 Analysts are seeing a shift from chunky #basketball kicks to sleek terrace sneakers, signaling a new trend on the rise. Edouard Aubin and Grace Smalley, CFA's insights showcase Adidas' potential, prompting a double upgrade and a bump in price target. With Nike facing innovation hurdles, adidas could seize the spotlight with its strategic pricing and fresh approach. As Nike works to regain its edge, Adidas is gearing up for a leap forward. Don't miss out on this sneaker revolution! https://lnkd.in/gWBrhtCm #Adidas #Nike #SneakerTrends #StockAnalysis #fashionindustry #executivesearch

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🎂 I just celebrated my 5th "Annivestiaire" - What a journey it's been! Reflecting on my 5️⃣ years in the leadership of Vestiaire Collective, here are 5️⃣ commandments: 🚀 You will deliver at a (very) fast pace: when volumes increase by 100%+, when you run out of cash, you have no choice but to deliver fast. 🔀 You will be versatile: being an expert on a single topic is not enough. You need to be able to lead teams from various functions - Ops, Commercial, Product, HR & Strategy so far. 🤓 You will be highly adaptable: leading team members with various backgrounds is definitely a challenge after BCG! 🎤 You will become public: need to represent Vestiaire in the public space, whether you like it or not. ♻️ You will be an activist: build your belief and start fighting for the cause, beyond the company. Going secondhand is just mandatory, full stop. Looking forward to the next 5 years! #fashion #luxury #secondhand #careers #leadership #startup

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Significant changes at Richemont in light of the global slowdown in luxury goods sales and a reshaping of the group´s top management. In privately-held enterprises, the relationship between a family Chair and non-family CEO is of critical importance - as well as a clear separation and definition of roles. #succession #familybusiness #luxurygoods

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While I always aim to maintain a positive and respectful tone, I find the recent Business of Fashion interview and justification for Chanel’s price increase on their leathergoods to be somewhat amusing and almost comical. When we break down the actual costs—leather, hardware, and labor—for a flap bag, even with the highest quality materials, let's say even the best French or Italian box calf, it’s evident that the total cost would be less than $1,000. Upon closer examination of the product and considering its expected wear and tear, it becomes apparent that Chanel’s price hikes are primarily aimed at boosting their profit margins, paying their rent, marketing budgets, as well as Peter Marino buildouts, and brand ambassadors-Penelope Cruz and Brad Pitt, as I currently write this opinion. While this strategy aims to create an even more luxury environment and exclusive position, it may burden clients who have reached a threshold. The real goal is obvious; for Chanel to position itself next to Hermes, considered the ultimate in luxury leathergoods. For one thing all of Hermes' bags are hand-made and Chanel's are not, something that a $10K bag should be required to be, at least to give some justification for such an exuberant price. However, it’s crucial to remind consumers that they themselves hold the power, and time will tell if clients new and old will pay $10K for a flap bag. I personally find it very difficult to digest that price for such a bag, especially after each SA opens the mirrored closets behind them, illustrating a plethora of the same machine-made bags stacked up against each other, losing their allure and perceived "specialness," and "craftsmanship." At least Hermes' sales associates wear white gloves and open up the orange boxes, as if the bag is seeing daylight for its first time, adding to the luxury experience. It is also my belief that vintage Chanel can remain a viable option for many, often boasting superior aesthetics and quality, compared to contemporary bags. Yes, their mianudieres and couture pieces today are extraordinary, but a clutch for $18K-$25K? I think one will get tired of a branded slot machine, scarab, or racing helmet. Then again, after almost 15 years, I am still thinking of the novelty clutches resembling the China and Russian dolls, that my Mom and I never bought, and wish we had back in the day, now selling for $45K on the secondary market!

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Lately, RetailX has issued its yearly issue on Fashion Sector and came up with a certain number of insights. I summarised them for your convenience. The 2024 issue highlights significant growth in the global fashion market, revealing a vibrant recovery to $673 billion in 2023, surpassing pre-pandemic levels. Here are some of the critical findings and insights from the report: 1. Market Growth and Regional Dominance:   - The fashion market experienced an 8% annual growth with apparel being the largest segment, followed by footwear and accessories.   - Asia emerged as the leading market, generating nearly 50% of global fashion sales, significantly outpacing the Americas and Europe. 2. Consumer Spending Trends:   - Despite high volumes, average spending per consumer in Asia remains lower compared to the more affluent regions like Europe and the Americas. In contrast, Australasian consumers spend the most on fashion annually. 3. E-commerce and Physical Retail Dynamics:   - E-commerce has seen robust growth, particularly in India and China where more than two-thirds of consumers shopped online. However, physical stores remain preferred globally, underscoring the importance of a hybrid retail model. 4. Sustainability and Second-hand Fashion:   - Sustainability is increasingly driving consumer choices, though regions like the UK lag behind with only a third of consumers purchasing sustainably. Meanwhile, the second-hand fashion market is expanding, with a significant portion of global consumers engaging in this more sustainable practice. 5. Technological Adaptations and Innovations:   - The report underscores the critical role of technology in shaping future market trends, including the adoption of digital wallets, contactless payments, and advanced e-commerce platforms. 6. Challenges and Opportunities:   - The sector faces challenges such as geopolitical impacts on supply chains and the need for sustainable practices. However, these challenges also present opportunities for innovation and market expansion, especially in developing regions and through sustainable fashion initiatives. The report suggests that as the global economy stabilizes, fashion will continue to thrive with increased consumer spending, especially in emerging markets. However, adapting to the hybrid nature of modern retail and enhancing sustainability practices will be crucial for future success. #trend #fashionindustry #strategy #sustainability

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𝗟𝗩𝗠𝗛'𝘀 𝗕𝗼𝗹𝗱 𝗠𝗼𝘃𝗲 𝗶𝗻 𝗙𝗼𝗿𝗺𝘂𝗹𝗮 𝟭 𝗦𝗽𝗼𝗻𝘀𝗼𝗿𝘀𝗵𝗶𝗽: 𝗔 𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝗶𝗰 𝗣𝗹𝗮𝘆 𝗔𝗴𝗮𝗶𝗻𝘀𝘁 𝗥𝗼𝗹𝗲𝘅? At the same time than LVMH is sponsoring the Paris Olympics, which inaugurate today, we are having breakfast with the news of their "potential" move towards Formula 1. LVMH, owning brands like TAG Heuer and Hublot, would replace ROLEX as the official timekeeper of Formula 1 starting in 2025. This move highlights LVMH's aggressive expansion strategy to potentially mitigate the pressure the luxury sector is living today. With the exception of Hermès (but this is for another post). This would mean: ⏱ Changing of the Guard: After 11 years, ROLEX will step down as the official timekeeper of Formula 1, a position it has held since 2013. 💰Financial Implications: The deal, worth an estimated $150 million annually, underscores LVMH's commitment to consolidate its presence in the sports world. This investment is significantly higher than Rolex's previous sponsorship cost, indicating LVMH's willingness to outbid its competitors to secure prime visibility. 🏎 Strategic Alignments: TAG Heuer, a brand already deeply linked to Red Bull Racing and the Monaco Grand Prix, would lead this new chapter. The timing aligns perfectly with the end of TAG Heuer’s contract with Red Bull.    📉 Context of Recent Performance: This move comes at a time when LVMH has faced some headwinds after publishing their Q2 results. LVMH's watch division generated approximately €11B in 2023. Despite global economic uncertainties, this division has shown resilience, driven by strategic market expansions and targeting younger demographics through platforms like Tmall. With Frédéric Arnault's recent appointment as CEO of LVMH Watches, the division aims for further growth and competitive positioning.   LVMH’s aggressive move into Formula 1 sponsorship is about asserting dominance and capturing a larger share of the HNW audience that follows these global events. This strategy could set a new benchmark for how luxury brands leverage sports sponsorships to drive brand equity and consumer engagement. 📣 What do you think about LVMH’s strategic play to unseat Rolex in the world of Formula 1? Could this shift redefine luxury brand sponsorships in sports? Share your thoughts in the comments below! #LVMH #Formula1 #LuxuryBrand #Sponsorship #TAGHeuer #Rolex #SportsMarketing #LuxuryWatches #BrandStrategy

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Is it time for Burberry to consider new management? Having just reported dismal FY24 results and remained vague about the FY25 LFL outlook, it must be time to consider a new management and creative team. Shareholders must be losing patience with Burberry, which has underperformed the luxury sector for almost 10 years.  Christopher Bailey was a brilliant creative director but did not have the right skills as CEO. Since then, first the Italian CEO/creative duo of Marco Gobbetti/Riccardo Tisci; and currently Jonathan Akeroyd/Daniel Lee have fared little better. But why? The luxury market is weaker than expected in 2024, but this alone is insufficient to explain the company’s current underperformance. Burberry’s strategy to elevate the brand; and shift towards leather goods has never made sense to me. This is a crowded, hyper-competitive space already and more importantly, it is not where Burberry’s DNA lies. Burberry’s DNA is about protecting people from the elements The brand has always been about protecting people from the elements. But in its eagerness to become a more exclusive leather goods brand, Burberry has let Moncler run away with the luxury outerwear space. Considering the interest in climate change, it seems like such a relevant category. Burberry’s positioning should be about accessible luxury No brand can take its pricing upwards easily, especially not in the current environment. It will be difficult for Burberry to move into higher-priced exclusive luxury, with the number of outlets Burberry has. It is no surprise that none of the successful luxury brands that operate in this higher-priced space – including Chanel, Dior, Hermes and Vuitton – have outlets. Being fashion-forward when quiet luxury in vogue is problematic Offering too high a fashion component at a time when quiet luxury is in vogue is also a difficult strategy. In my mind, Burberry should be a modern classic but not high-fashion. Burberry doesn’t feel like Burberry any more If you walk into the Bond Street Burberry store today, the white box feels anonymous; this store could arguably belong to a whole host of premium brands. I also think it’s a pity that successive management teams have been allowed to tamper with the typeface/font. The new font is not even consistently applied across the world. (For example, the Vienna flagship still uses the old one). As for heavy use of the colour blue, I associate Burberry with tan, black and dark red of the check. I’d love to know what you think. #luxury #management #turnaround Smith Square Partners https://lnkd.in/ebH9PX3W

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There is no doubt that too much of a focus on the Chinese shoppers has damaged both the luxury and travel retail markets in the past. While travel retail has built a strong future model without the Chinese shoppers, whose growth has not returned, the luxury sector remains linked to Chinese spend in a big way. With the potential of markets such as Japan, India and Vietnam, alongside the enduring strength of Europe, the Middle East and the US, we must all look wider in this new normal. #Luxury #China #GoGlobal

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LVMH Lines Up Next CFO: But More Diversity is Needed In a significant development, luxury conglomerate LVMH has appointed Cécile Cabanis as deputy finance director, reporting to current CFO Jean Jacques Guiony. This move is part of a broader succession plan as billionaire CEO Bernard Arnault prepares the next generation of leaders to steer the world's largest luxury goods company. Key Takeaways: → Cabanis, former CFO of Danone, is poised to eventually succeed Guiony as LVMH's CFO → Although the appointment reflects LVMH's commitment to gender diversity, with Cabanis becoming the third woman on the executive committee, we would like to see MORE please → The move highlights LVMH's focus on continued growth, resilience, and industry leadership → The management shake-up underscores the Arnault family's tight control over the company and its long-term strategic direction Implications for Diversity in Luxury? → Does this signal a welcome shift towards gender diversity in luxury leadership →As the industry closely watches LVMH's strategic moves, could this inspire other brands to prioritise diversity in succession planning? →Questions remain about LVMH's long-term plans and the role of non-family executives →LVMH's commitment to a strong, diverse management team positions it to navigate challenges and shape the future of luxury What are your thoughts on LVMH's succession planning and the appointment of Cecile Cabanis? How do you think this will impact the luxury industry in the coming years? Share your insights in the comments below! https://lnkd.in/eh4tV8kq #DiversityinLuxury #Luxpreneur #Luxepreneur SuccessionPlanning #LuxuryIndustryLeadership #GenderDiversityInLuxury #BernardArnault #CecileCabanis #LVMH --------------------------------------------------------------------- ▶ I'm Elizabeth Solaru founder of the Diversity in Luxury Awards and I love coaching small luxury business owners. ▶ Interested in having me speak at your event? I'm ready to share insights on navigating the luxury market, captivating high-end clientele, and mastering the art of entrepreneurship. ▶ Let's connect! Reach out to me at elizabeth@luxurybusinessemporium.com on how I can help you.

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