LVMH Group has announced the appointment of Michael Burke to the role of chairman and chief executive of LVMH Fashion Group, effective February 1, which sees the veteran executive oversee the French luxury goods group’s fashion labels.
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Burke, 66, succeeds Sidney Toledano, 72, who, after 20 years at the helm of Dior, took on the CEO position at LVMH Fashion Group in 2018. With the change, Toledano has been appointed advisor to Bernard Arnault, CEO of LVMH Group, and is leaving the LVMH executive committee.
During his tenure at LVMH, Burke, was CEO of the Paris-based firm’s Louis Vuitton brand until a year ago. He has also been at the helm of sister labels Fendi and Bulgari, and served as chairman of the board of jewellery house, Tiffany.
In his new role, Burke will now oversee luxury fashion brands Celine, Givenchy, Kenzo, Loewe, Marc Jacobs, Patou, Emilio Pucci and Fendi.
“Like Bernard Arnault and Sidney, whom I am succeeding, I am an apostle of the long term, of craftsmanship, creativity and excellence. These are all ingredients that will form part of the recipe that I intend to deploy with the teams of these houses to further increase their desirability and break new records,” said Burke.
“Sidney, with whom I have shared more than 30 years of friendship, adventure and complicity, has done a fantastic job at the head of these houses, encouraging their creativity and giving them the benefit of his unique experience as a seasoned manager. I am fully committed to this ambition to bring out the magic of these extraordinary houses, rich in their power to innovate, their history and their expertise.”
In early January, LVMH announced the appointment of Frédéric Arnault as head of a new watches division, just two months after Antoine Arnault announced he was stepping down as CEO of Berluti, of which he remains chairman.
LVMH will present its annual results for 2023 on January 25.