Pietro Beccari, the Chairman and Chief Executive Officer (CEO) of the French fashion house Louis Vuitton, is expanding his responsibilities. The veteran of the French luxury goods group LVMH will in future also take over the management of the group’s entire fashion division.
Beccari retains his existing double title with Louis Vuitton. Additionally, he was appointed Chairman and CEO of LVMH Fashion Group. He succeeds Sidney Toledano in this role. Toledano had served as CEO of the division since February 2018. However, he has now “decided to step down from his operational role,” according to a statement published on Tuesday.
Toledano’s departure comes after more than 30 years of collaboration with Bernard Arnault, chairman and CEO of LVMH. In a statement, Arnault thanked Toledano for his services. Toledano will therefore remain in the company as a special advisor.
Louis Vuitton CEO takes on dual responsibility
Beccari will assume Toledano’s role after a transition period starting January 1, 2026. At this time, Damien Bertrand will also become a member of the LVMH Executive Committee. Bertrand is the current deputy CEO of Louis Vuitton.
In his statement, Arnault emphasized that he was “delighted” that Beccari would bring his expertise to the LVMH Fashion Group. “Pietro is a great leader and a unique talent with boundless energy,” said Arnault. “He knows how to surround himself with talent and develop it to prepare the future of the Maisons.”
Beccari joined LVMH in 2006 as executive vice president of marketing and communications for Louis Vuitton. He later served as chairman and CEO for a number of fashion houses owned by LVMH. These included Fendi and Christian Dior Couture. He finally took over the management of Louis Vuitton in February 2023.
The leadership change comes at a challenging time for LVMH’s fashion division. This has recently recorded weaker results than the group’s other business areas. In the second quarter of the current financial year, the Fashion & Leather Goods division suffered a nine percent decline in sales. The losses continued in the third quarter – although slightly smaller at two percent.
In response, the group pivoted to a premiumization strategy. This aims to increase the desirability of their brands for local customers, especially in Europe and the USA. Some brands are increasingly relying on their creative strengths, be it in retail or through new head designers. With this strategy, the group is aiming to strengthen its long-term resilience.
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