December 12, 2011 Paris, France
LVMH (Louis Vuitton Moet Hennessy), the world’s largest luxury group has announced that Pietro Beccari will become CEO of Fendi.
Beccari is the chairman of Berluti, a LVMH owned luxury shoe brand.
Michael Burke is the outgoing CEO of Fendi and will be leaving to become CEO of jeweller Bulgari. Pietro Beccari’s replacement at Louis Vuitton as executive vice president, marketing and communications will be announced at a later date.
LVMH’s shares have been down 7% so far in 2011 and are looking to get a boost from increased holiday shopping this year.
