LVMH Positions Michael Burke as CEO to Bolster Americas Division
Luxury conglomerate, LVMH, has announced the appointment of seasoned executive, Michael Burke, as Chairman and CEO of LVMH Americas. This strategic new role is aimed at promoting the group’s interests across North and South America. Burke, 68, has enjoyed a fruitful professional relationship with LVMH CEO Bernard Arnault for over four decades, occupying senior management roles at several LVMH brands such as Dior, Fendi, Bulgari, and Louis Vuitton.
This move comes as LVMH is keen to fortify its foothold in the Americas market, which contributed to 25% of the group’s €84.7 billion revenue in 2024. Boasting nearly 1,200 U.S. stores and a workforce of 45,000, LVMH perceives this region as a pivotal hub for beauty innovation and retail expansion. Burke, who will operate from New York, has also been named the non-executive chairman of Tiffany & Co.’s board of directors.
“This appointment signals LVMH’s intention to deepen investment in the region in the coming years,” the company stated. The company anticipates that Burke’s proficiency in retail, brand elevation, and forging creative partnerships will catalyze growth in the fiercely competitive beauty landscape.
Source: Global Cosmetics News