Bulgari Head to Lead LVMH’s Vuitton as CEO Constans Steps Down
LVMH Moet Hennessy Louis Vuitton SA (MC) said the head of its Bulgari unit will take charge of the Louis Vuitton fashion and accessories brand, replacing Jordi Constans who is leaving a month after taking the post because of illness.
Michael Burke, who only moved to Bulgari from LVMH’s Fendi label in February, rejoins Vuitton, whose North American business he ran from 1993 to 1997, the Paris-based company said today in a statement. The executive, who has also worked at Christian Dior Couture, joins LVMH’s executive committee, the world’s largest luxury-goods maker said.
“I am convinced that he is the right leader for Louis Vuitton’s future,” LVMH Chairman and CEO Bernard Arnault said in the statement. “He will build on the initiatives launched by Jordi Constans, bringing the vision and drive to continue advancing Louis Vuitton’s leadership position in luxury.”
Constans is stepping down “due to the discovery of a significant health issue,” LVMH said in a separate statement. The 48-year-old executive became Vuitton CEO last month after leaving yogurt maker Danone SA in 2011 to join LVMH.
Burke “is a very safe pair of hands,” said Luca Solca, head of luxury-goods research at Exane BNP Paribas. “He has a long history with the group. He has done very well with Fendi. This is a choice for the known, rather than for the unknown.”