LVMH hires and acquisitions since the pandemic

Despite the current slowdown in the luxury industry, LVMH keeps somehow defying the odds.

In fact, while competitor Kering reported a drop in revenue, LVMH recorded organic revenue growth of 10% in Q4.

Many things can be credited for the French luxury conglomerate’s sustained resilience, from growth in key sectors like fashion and leather goods to its growing roster of brands.

But perhaps nothing predicts a company’s success like some of its biggest executive decisions, especially in an uncertain economy.

So we put together a timeline of LVMH’s top hires and acquisitions since the beginning of the pandemic.

2020

October: One of the biggest shakeups at LVMH came when former Apple executive Ian Rogers left his position as chief digital officer at LVMH after five years to join a French cryptocurrency startup Ledger. The role morphed into a “chief omnichannel officer” and was filled by then Louis Vuitton VP Michael David.

2021

January: 2021 started with a bang for LVMH which (finally) acquired Tiffany & Co. after a long back and forth between the two that started in 2019. Although LVMH finally succeeded, the deal certainly did not come cheap as it cost the company a whopping $16.2 billion and came to be known as the largest luxury deal in the space.

June: The French luxury conglomerate seemed to be on a roll when it bagged Tiffany as another big acquisition in June. The company acquired 100% stake in heritage Italian luxury brand Emilio Pucci, after the family of the deceased founder relinquished 33% control in the company.

July: The next month, LVMH struck a deal with late designer Virgil Abloh (who at the time had been hired to helm Louis Vuitton menswear) to acquire a majority stake in Off-White LLC. Following the acquisition, LVMH retained 60% control in Off-White, while founder Abloh had the remaining 40%.

2022

January: Although perhaps not as big as 2021 overall, 2022 also got off to an interesting start for LVMH, which decided to expand its portfolio by buying a minority stake in New York-based fashion and lifestyle brand Aimé Leon Dore. While the investment sum wasn’t disclosed, it certainly was a good day for the young brand that was first founded in 2014.

June: The second half of 2022 saw one big executive hire for LVMH, as Stéphane Rinderknech joined the LVMH Group as CEO of LVMH Hospitality Excellence. The executive, who was previously the President North America and CEO of L’Oréal USA, was eventually also promoted to chair and CEO of the LVMH’s Beauty Division in March 2023.

November: The year ended with a bang for the company when it acquired jewelry maker Pedemonte Group, which helped strengthen the jewelry and watches portfolio for the retailer.

2023

January: Two big executive shakeups marked the beginning of 2023, starting with Pietro Beccari, chair and CEO of Christian Dior Couture, who was hired to replace Louis Vuitton CEO Michael Burke, who left his position after 10 years. The second one came with Delphine Arnault, the former EVP of Louis Vuitton, who was appointed to fill Beccari’s vacant shoes as CEO and chair of Christian Dior.

February: One of the biggest surprises of the year perhaps was the appointment of singer Pharrell Williams as men’s creative director at Louis Vuitton, a role previously held by Virgil Abloh until his death in 2021.

March: A couple of months after the major management shuffle, LVMH hired ex-L’Oréal and Loro Piana exec Giulio Bergamaschi to take over as CEO of Acqua di Parma, succeeding Laura Burdese, who left the position in 2021.

November: To close out the year, LVMH acquired Los Angeles-based eyewear brand Barton Perreira for the hefty sum of $80 million. The move was reportedly in order to bolster its luxury eyewear division.

2024

January: And to round up the list so far, this year LVMH tapped one among its own, Louis Vuitton CEO Michael Burke, who assumed the role of chair and CEO of LVMH Fashion Group. The executive replaced longtime LVMH veteran Sidney Toledano, who was to exit the company.