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A former L’Or\u00e9al executive with extensive experience in the United States and Asia, St\u00e9phane Rinderknech joined LVMH in 2022 and headed the group’s hotel business, which he will continue to do.<\/p>\n
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\u201cStephane has, since his arrival, guided the rebound of our hotel activities with considerable strategic agility, driving a tremendous dynamic throughout the organization,\u201d said Bernard Arnault, the group\u2019s CEO, in a statement Monday<\/p>\n
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St\u00e9phane Rinderknech will take on global responsibility for the group’s beauty business, while Guerlain director V\u00e9ronique Courtois will become CEO of Parfums Christian Dior. The director of Make Up For Ever, Gabrielle Saint-Genis Rodriguez, will be the President and CEO of Guerlain.<\/p>\n
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The changes come as luxury groups, which have been riding a strong wave of post-pandemic demand for designer brands, look to expand their beauty business.<\/p>\n
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Late last year, Estee Lauder Cos Inc bought U.S. fashion brand Tom Ford for $2.8 billion, its biggest deal ever.<\/p>\n
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The French luxury goods group Kering said it was entering the cosmetics business last month, recruiting veteran Estee Lauder executive Raffaella Cornaggia to head its beauty division.<\/p>\n
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At LVMH, Bernard Arnault said Rinderknech’s appointment completes the group’s reorganization.<\/p>\n
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As part of that process, the group in January integrated Tiffany into the watches and jewelry division under the leadership of Stephane Bianchi.<\/p>\n
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Read also >\u00a0Donation of a painting by Caillebotte : what benefit for LVMH ?<\/a><\/p>\n