Latest news with #MichaelBurke
Yahoo
09-07-2025
- Business
- Yahoo
LVMH names new chairman and CEO of LVMH Americas
This story was originally published on Fashion Dive. To receive daily news and insights, subscribe to our free daily Fashion Dive newsletter. LVMH announced the appointment of Michael Burke as chairman and CEO of LVMH Americas, effective July 7, according to a statement posted on the company's LinkedIn page. Burke is responsible for 'representing and promoting the best interests of the Group in North and South America,' per the statement. No announcement was made regarding the roles of Anish Melwani, currently chairman and CEO of LVMH North America, and Davide Marcovitch, currently president of LVMH Latin America and Africa. Most recently, Burke was chairman and CEO of LVMH Fashion Group, which includes Celine, Givenchy, Kenzo, Loewe, Marc Jacobs, Patou, Pucci and Rossimoda. He will now report to LVMH Group Managing Director Stéphane Bianchi. The executive shift comes as LVMH grapples with a revenue downturn. The company posted a 2% year-over-year revenue drop in Q1, following several consecutive quarters of similar declines. In addition, sales in the U.S. region were down 3% for that quarter and flat in fiscal 2024. LVMH said in its statement that Burke's appointment comes during 'a complex and evolving geopolitical period' and that his new role highlights the company's plans to further invest in the Americas in the coming years. 'Throughout our close and fruitful collaboration, Michael has perfectly incarnated the values of our Group,' LVMH Chairman and CEO Bernard Arnault said in the statement. 'His outstanding leadership helped to continuously elevate the desirability and craft of the whole industry to new heights. I am convinced his long-term vision, and unique entrepreneurial spirit will be invaluable assets to the Group at this strategic time in the Americas.' Early in his career, Burke joined Groupe Arnault, the family holding company of Bernard Arnault, and was responsible for investments in the U.S. He later served as CEO of multiple LVMH-owned companies, including Christian Dior USA, Louis Vuitton North America and Fendi. In 2012 he was appointed CEO of Bulgari and then chairman and CEO of Louis Vuitton. Burke is also a member of the LVMH Executive Committee, chairman of the Tiffany board of directors, and a direct advisor to Arnault. LVMH has made several executive changes in 2025, including the April announcement of new CEOs at Fendi, Dior Couture and Kenzo. In March, the company appointed Damien Bertrand as deputy CEO of Louis Vuitton, Frédéric Arnault as CEO of Loro Piana, and Jean-Christophe Babin as CEO of LVMH Watches. Recommended Reading Apparel stays resilient as personal luxury goods market contracts Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Wall Street Journal
08-07-2025
- Business
- Wall Street Journal
LVMH Taps Michael Burke to Lead Americas Business Amid Trade Uncertainty
Louis Vuitton owner LVMH MC 1.54%increase; green up pointing triangle named Michael Burke as chairman and chief executive of its Americas division, sharpening its focus on the region at a time when the luxury sector navigates waning demand and President Trump's tariffs. The appointment, set to bolster the group's presence in North and South America in a complex period for trade and geopolitics, reflects LVMH's ambition to further invest in the region in coming years, according to a company memo seen by The Wall Street Journal. Burke, who has already take on his new role, will report to Stephane Bianchi, LVMH's managing director.
Bloomberg
08-07-2025
- Business
- Bloomberg
LVMH Names Long-Time Arnault Associate to Fix Americas Business
LVMH named Michael Burke to head its Americas operations, bringing back an old-time fixer to take on some of the biggest challenges the group has faced in the region. Burke, 68, who has worked with Chief Executive Officer Bernard Arnault since the billionaire's early days in the 1980s, will oversee operations in North and South America, reporting directly to LVMH Group Managing Director Stephane Bianchi, the luxury conglomerate said in an internal memo. He will also become the non-executive chairman of the US jeweler Tiffany & Co. that LVMH bought in 2021.
Fashion Network
08-07-2025
- Business
- Fashion Network
LVMH: Michael Burke takes over as head of Americas region
Michael Burke is certainly the American executive most highly regarded by Bernard Arnault. The former head of Louis Vuitton joined the French luxury magnate's group in the 1980s. His appointment as president and CEO of LVMH Americas, effective July 7, brings the company full circle. This Bernard Arnault loyalist, who headed Louis Vuitton until 2023, is taking on this new challenge, as first revealed by the American industry trade daily, WWD. He will report directly to Stéphane Bianchi, the group's chief executive officer, while Anish Melwani, chief executive officer of LVMH Inc. and Davide Marcovitch, president of LVMH Latin America, will report to him, according to an internal memo seen by Above all, at a time when the geopolitical context is proving complex and relations between the United States and the European Union have become strained around the subject of customs duties, the arrival of Michael Burke, after a short-lived stint at the head of the Fashion Group in 2024, may deliver two strong messages. On the one hand, his return to the United States, 40 years after he began managing the group's investments across the Atlantic and then directing the activities of Dior and Louis Vuitton in this zone, is a message about the importance of this market, which represents no less than a quarter of the group's global sales, which reached 84.7 billion euros in 2024. Like his parallel appointment as non-executive chairman of the board of Tiffany & Co., it also signals Arnault's desire to exercise precise control over his American activities. The 67-year-old's arrival on the American jeweler's board is presented as "strategic support." In 2024, the brand, the largest acquisition in the group's history, experienced a number of upheavals, including a rebellion by some of its long-standing employees, followed by the departure of others. The arrival of the highly experienced American executive should also enable the company to deploy the potential expected by the group.
Fashion Network
08-07-2025
- Business
- Fashion Network
LVMH: Michael Burke takes over as head of Americas region
Michael Burke is certainly the American executive most highly regarded by Bernard Arnault. The former head of Louis Vuitton joined the French luxury magnate's group in the 1980s. His appointment as president and CEO of LVMH Americas, effective July 7, brings the company full circle. This Bernard Arnault loyalist, who headed Louis Vuitton until 2023, is taking on this new challenge, as first revealed by the American industry trade daily, WWD. He will report directly to Stéphane Bianchi, the group's chief executive officer, while Anish Melwani, chief executive officer of LVMH Inc. and Davide Marcovitch, president of LVMH Latin America, will report to him, according to an internal memo seen by Above all, at a time when the geopolitical context is proving complex and relations between the United States and the European Union have become strained around the subject of customs duties, the arrival of Michael Burke, after a short-lived stint at the head of the Fashion Group in 2024, may deliver two strong messages. On the one hand, his return to the United States, 40 years after he began managing the group's investments across the Atlantic and then directing the activities of Dior and Louis Vuitton in this zone, is a message about the importance of this market, which represents no less than a quarter of the group's global sales, which reached 84.7 billion euros in 2024. Like his parallel appointment as non-executive chairman of the board of Tiffany & Co., it also signals Arnault's desire to exercise precise control over his American activities. The 67-year-old's arrival on the American jeweler's board is presented as "strategic support." In 2024, the brand, the largest acquisition in the group's history, experienced a number of upheavals, including a rebellion by some of its long-standing employees, followed by the departure of others. The arrival of the highly experienced American executive should also enable the company to deploy the potential expected by the group.
