LVMH appoints Chris de Lapuente as new boss of Selective Retailing
LVMH has appointed Chris de Lapuente as its new Chairman and CEO of the luxury conglomerate’s Selective Retailing Division.
De Lapuente, who is currently in charge of both Sephora and Le Bon Marché group, as well as the Perfumes & Cosmetics activity in the group, will continue to be a member of the LVMH Executive Committee, the group announced Monday.
In his new position, de Lapuente will also expand his terrain of management to include DFS, Starboard @ Onboard and 24S, the group’s fledgling online project.
De Lapuente’s success marks the latest example of an executive who began his career in Procter & Gamble – by now, almost a LVMH finishing school – rising rapidly through the ranks to the upper echelons of the giant French luxury group.
With €14.7 billion in turnover in 2019, Selective Retailing Division accounts for some 27% of LVMH’s total turnover. However, in terms of operating profit, the division makes up just 12% of the group’s total, indicating that de Lapuente has plenty to do in this new job.
His appointment makes de Lapuente one of the most powerful executives in LVMH. With his new title, Benjamin Vuchot, chairman and CEO of DFS; Lisa Bauer, chairman and CEO of Starboard @ Onboard; and Eric Goguey, chairman and CEO of 24S, will all report to de Lapuente.
“I am delighted to have Chris enlarge his responsibilities. Since he joined the group some ten years ago, he has shown tremendous leadership and an exceptional ability to deliver results and develop organizations. His most striking success has been Sephora, which has turned into a global leader in prestige beauty retailing, recognized around the world as one of the most innovative brands in products and services, both in-store and online. He has also achieved remarkable success in growing new beauty brands with great potential, notably Fenty Beauty,” said Arnault in an official release.
Launched in September 2017 with a 40-shade foundation range, Fenty Beauty was almost immediately dubbed one of the best social media product launches in recent history.
A graduate of the University of Buckingham, UK, de Lapuente began his career with Procter & Gamble in 1983, holding positions in the UK, Spain, Turkey, Germany and Switzerland. Ind 2004, he was appointed group president of the Global Hair Division. By 2011, de Lapuente had joined LVMH as CEO of Sephora and led that brand until September of this year.
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