The executive will step into the top post of LVMH's fashion division effective Feb. 1, 2024, succeeding chairman and CEO Sidney Toledano. Image credit: LVMH
French luxury conglomerate LVMH is changing course with a new corporate appointment.
Effective Feb. 1, Michael Burke, the former CEO of Louis Vuitton, will step into the top post at LVMH Fashion Group, succeeding chairman and CEO Sidney Toledano. The update sees Mr. Toledano, who has led strategy for portfolio members such as Dior, Givenchy, Loewe and others since 2018, transitioning into an advisory role, supporting LVMH's founder, chairman and CEO Bernard Arnault.
“After steering Louis Vuitton to new levels of success, I am delighted to see Michael Burke as Head of the Fashion Group,” said Mr. Arnault, chairman and CEO of LVMH, in a statement.
“By my side even before the creation of LVMH, he has always been a key player in the Group's success, largely thanks to his remarkable discernment and finesse of his work at the Head of Fendi, Bulgari and Louis Vuitton,” he said. “These Maisons continued to grow and evolve while remaining faithful to their heritage and to their unique savoir-faire.
“His extensive experience and his passion for craft and creativity are invaluable assets to pursue and further accelerate the dynamic growth of the Maisons in the LVMH Fashion Group.”
Time of transition
The two men have long histories guiding the respective directions of LVMH’s luxury brands.
The 66-year-old Mr. Burke has spent decades with the conglomerate, beginning work as the CEO of Louis Vuitton in 1993, before taking up leadership positions at houses including Fendi and Bulgari over the course of his career.
Mr. Toledano’s time at the corporation spans a roughly identical stretch, becoming the CEO of Christian Dior the same year as his current successor. He will be departing the conglomerate's Executive Committee as part of the announcement.
LVMH is pleased to announce the appointment of Michael Burke as Chairman and CEO of LVMH Fashion Group. He succeeds Sidney Toledano, who is appointed Advisor to Bernard Arnault and leaves the LVMH Executive Committee.#LVMHTalents pic.twitter.com/OJv3jN5grm
— LVMH (@LVMH) January 19, 2024
“Sidney Toledano is an exceptional leader who has been by my side for many years, firstly at Dior and then at the LVMH Fashion Group,” said Mr. Arnault, in a statement.
“Over more than 30 years of close and fruitful collaboration, he has identified and promoted numerous creative talents who are now among the world's most recognized designers,” he said. “As Head of LVMH Fashion Group, his creative leadership contributed to the spectacular growth of our fashion Maisons, which benefited from his deep experience in further strengthening their desirability.
“Sidney Toledano will remain very much involved as my Advisor and will continue to share his passion and exacting professionalism with all the Group's teams. He still has a tremendous amount to bring to us.”
LVMH has undergone several executive shifts in recent weeks, with Frédéric Arnault named the new CEO of the conglomerate’s watch division to kick off 2024 (see story).