LVMH's Dior Taps Miu Miu Boss as Managing Director

By Andrea Figueras

LVMH's Christian Dior Couture named Benedetta Petruzzo, chief executive of Prada's Miu Miu label, as its new managing director.

Dior, French luxury fashion giant LVMH Moet Hennessy Louis Vuitton's second-largest brand, said Petruzzo will take up her role on Oct. 15, replacing Charles Delapalme.

After a transition period, Delapalme, who joined Dior in 2018, will take on new responsibilities within the LVMH group, the brand said.

The appointment comes at a challenging time for the luxury giant, which recently posted first-half revenue that missed analysts' expectations and flagged a sharp decline in sales from Asia outside of Japan.

Prada was one of the few luxury names to post a positive performance during the period, with double-digit growth in most regions, helped by the growing popularity of Miu Miu, which caters to a younger clientele and is known for its crop-tops and miniskirts.

"I am convinced that Benedetta's talent and leadership will be major assets in the continued development of Dior's activities and its international influence," chairman and CEO of Christian Dior Couture, Delphine Arnault, said.

Petruzzo's appointment at the key LVMH brand comes while plans to succeed Bernard Arnault at the helm of the company are still unclear. For decades, the French billionaire, who is LVMH's chairman and chief executive officer, has been preparing his five children to run his luxury-brand empire and all five are involved in LVMH's management.

Delphine Arnault, the eldest daughter, took over the role of CEO at Dior in February 2023 and is a member of both LVMH's board of directors and executive committee.

Write to Andrea Figueras at andrea.figueras@wsj.com

(END) Dow Jones Newswires

September 03, 2024 07:23 ET (11:23 GMT)

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