The what? LVMH-owned Parfums Christian Dior has announced the appointment of Laurent Kleitman, who will succeed Claude Martinez as President and Chief Executive Officer, according to a report by WWD.com.
The details Kleitman takes on the position from his most recent role with Coty, and has vast experience of consumer goods, commercial and operational leadership within the beauty industry.
Having held the position for 19 years, Martinez has been
credited by Bernaud Arnault, Chairman and CEO of LVMH, for “having elevated
Parfums Christian Dior to greater heights and successes over all these years.
“We can be proud to see Parfums Christian Dior be positioned now as an undisputed leader in our key markets despite the fast-paced and competitive perfumes and cosmetics environment. I am delighted to welcome Laurent Kleitman, who will pursue the development of Parfums Christian Dior bringing his extensive international experience and modern creative vision to the brand.”
The why? The move to bring in industry expert Kleitman comes at a time when the company is undertaking a shift in its business development due to the increase in digital consumers and the rise in Chinese spend. Likewise Kleitman will be tasked with navigating the company in the face of falling sales of makeup and fragrance and the rise in popularity of skincare.
During a transition period of one year, Kleitman will work closely with Martinez to focus on the brand’s priory of a “quest for leadership in all categories of products, digital and omnichannel acceleration, retail evolutions.”