THE WHAT? It’s been quite the battle but LVMH has finally completed its takeover of US jewelry brand Tiffany and is putting some of its most trusted executives at the helm. Louis Vuitton executive Anthony Ledru has been named CEO, effective immediately.
THE DETAILS Alexandre Arnault, previously CEO of Rimowa has taken on the role of Executive Vice President Product and Communications and Micheal Burke, Chairman and CEO of Louis Vuitton will become Chairman of Tiffany’s Board of Directors.
Current Tiffany CEO Alessandro Bogliolo has agreed to remain in situ to facilitate the transition until January 22, while Reed Krakoff, Chief Artistic Director and Chief Brand Officer, Daniella Vitale will be leaving the company after a brief transitional period.
THE WHY? Ledru joined LVMH from Tiffany in 2014, so has prior knowledge of the brand and an extensive background in luxury jewelry, having also worked as Global Vice President of Sales for Harry Winston International and held senior roles at Cartier over the course of his 20-year career. Bernard Arnault, Chairman and Chief Executive Officer of LVMH, commented, “I am pleased to welcome Tiffany and all [its] talented employees in our Group. Tiffany is an iconic brand and a quintessential emblem of the global jewelry sector. We are committed to supporting Tiffany, a brand that is synonymous with love and whose Blue Box is revered around the world, with the same dedication and passion that we have applied to each of our prestigious Maisons over the years. We are optimistic about Tiffany’s ability to accelerate its growth, innovate and remain at the forefront of our discerning customers’ most cherished life achievements and memories.”