An eye on Christian Dior’s new CEO
With a major shake up going on in luxury titan LVMH’s management team, few appointments will be as important as the new top man at Christian Dior, long considered a jewel in the group’s crown. That man, Pietro Beccari, is currently in charge of another LVMH brand, Fendi, where he has been responsible for putting it front and centre against the world’s other luxury brands. In the five years he’s steered it, Fendi has become a modern phenomenon that offers customers a “full-immersion experience” that includes a novel Ecommerce site and a boutique hotel. Can he perform a similar transformation at Christian Dior?
LVMH’s share price has appreciated by 36% so far this year
SOURCE: Yahoo Finance
Dior is a long way from being a troubled brand. Under the watchful eye of Sidney Toedano, who is moving to lead a collection of LVMH’s smaller fashion brands, Dior has been a consistently strong performer. It’s grown an average of 12% a year since 2000, and retains an iconic position in the luxury market.
Yet, there are signs that more work could be done: recent creative experiments have drawn mixed reviews, and Dior’s prestige might be high, but it is not especially current. Elizabeth von der Goltz, online retailer Net-a-Porter’s global buying director, sums up the situation: “At Dior there’s something to be done in terms of modernizing their communications -- making it more playful.”
She has faith in Christian Dior’s new boss, though, who will assume the role in early 2018. Of his time at Fendi, she says: “Beccari has done an amazing job of taking the craft of the house and using it in a very modern way.”
Beccari’s role will be to modernize the brand, tightening up its Ecommerce and guaranteeing that it remains poised atop of the luxury world as millennials become more and more important to sales. If his work at Fendi is anything to go by, he’s the right man to revolutionise this iconic piece of the luxury world.
Dominion holds LVMH in its Global Trends Luxury Fund.
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