Luxury group LVMH announced on January 7 that its bid to acquire US brand Tiffany was complete, reports Leatherbiz.
Chief executive, Bernard Arnault, said he was pleased to welcome Tiffany and its “talented employees” to the group. However, he immediately announced a complete overhaul of Tiffany’s senior management team.
The brand’s chief executive, Alessandro Bogliolo, its chief artistic director, Reed Krakoff, and its chief brand officer, Daniella Vitale, will all leave “after a short transition of responsibilities”.
LVMH has announced that Anthony Ledru, previously executive vice-president for global commercial activities at Louis Vuitton and formerly senior vice-president in North America for Tiffany, has taken over as Tiffany chief executive, effective immediately.
The brand’s new executive vice-president for product and communications is Alexandre Arnault, Bernard Arnault’s son and previously chief executive of luggage brand Rimowa, which is also part of the LVMH group.
Louis Vuitton chief executive, Michael Burke, will become chairman of Tiffany’s board of directors.