- Prachi Singh |
LVMH Moët Hennessy Louis Vuitton has appointed Serge Brunschwig as the new Chairman and Chief Executive of fashion house Fendi, reports Reuters. Reporting into Toni Belloni, LVMH Group Managing Director, Brunschwig replaces Pietro Beccari, who was named Chairman and CEO of LVMH’s Christian Dior Couture in November last year.
Last year, after Sidney Toledano ended his 20 year long journey heading Christian Dior, Beccari, then CEO of Fendi, stepped into the role vacated by Toledano. Toledano moved into a supervisory role as chief of the LVMH Fashion Group.
Last month, LVMH reported revenue of 42.6 billion euros (65.4 billion dollars) in 2017, an increase of 13 percent over the previous year, while organic revenue growth was 12 percent. Profit from recurring operations reached 8, 293 million euros (10,257 million dollars) in 2017, an increase of 18 percent, and group share of net profit was 5, 129 million euros (6,339.7 million dollars), representing growth of 29 percent.