Former CEO and chairman at Louis Vuitton, Yves Carcelle, passes away

Former chairman and chief executive officer of Louis Vuitton, Yves Carcelle,

has passed away at the age of 66, after losing his fight against cancer.

Carcelle, who has been credited with leading the French luxury fashion label transformation into a global leading powerhouse died Sunday in the Pitié-Salpêtrière Hospital in Paris. A respected and admired persona in the industry, Carcelle stepped down from his roles at Louis Vuitton in 2012, after working for its parent company LVMH for over 22 years.

“It is with deep emotion and regret that I learned of Yves Carcelle's passing,” said Bernard Arnault, chairman and chief executive of LVMH, in a statement. “A tireless traveler, Yves was a pioneer who embodied the image and values of Louis Vuitton. Always curious, passionate and in motion, he was one of the most inspiring leaders of men and women whom I have ever had the privilege of knowing.”

Carcelle first joined LVMH in 1989 as Strategic Director, but was quickly appointed chairman and CEO of the French luxury label in 1990. Some of his most remarkable accomplishments during his time at Louis Vuitton include expanding the label's product category into new areas, such as eyewear and fine jewelry building up its brand presence across the global and tapping Marc Jacobs as creative director in 1997.

“My thoughts today are with Yves' family, as well as with all his former staff at Louis Vuitton, who will long remember him as a manager and mentor who was accessible, human and sincere,” continued Arnault. “Today, the LVMH Group has lost one of its closest and dearest friends and I join in the sorrow of each of us as we mourn Yves’ passing, but also importantly in our collective appreciation for his life, his work and his legacy.”

Carcelle is survived by his wife, Rebecca, and their two sons, plus three children from a previous marriage, reports WWD.