|
 The timing and the terms under which the reshuffle would
happen have not yet been determined, the sources said. However,
they added the matter was being actively discussed at LVMH.
LVMH declined to comment when contacted before publication.
Later, LVMH denied the "erroneous information that Nicolas
Ghesquiere might soon leave as artistic director of Louis
Vuitton". Ghesquiere's contract is not due for renewal until the
end of 2018, a spokesman said.
Louis Vuitton is the world's biggest luxury brand, generating
nearly 8 billion euros ($8.8 billion) in annual revenue and
accounts for the bulk of profit at parent LVMH, owner of 70
luxury brands and businesses, ranging from fashion and wine to
jewelry and hotels.
"People in the studio are expecting him (Ghesquiere) to leave,
possibly as early as after the October collection," one of the
sources said.
Ghesquiere, 45, told French TV channel Canal Plus in early June
that we wished to create his own label and would be in a
position to do it very soon but he did not provide details.
Designers at big brands including Louis Vuitton, Balenciaga and
Hermes - Marc Jacobs, Alexander Wang and Christophe Lemaire,
respectively - have left in recent years to develop their own
labels.
ARNAULT 'ADORES' ANDERSON
The sources said Arnault and his daughter Delphine, No.2 at
Louis Vuitton, were big fans of 32-year-old Anderson, known for
his playful designs and contemporary art inspiration.
They said executives at LVMH believed Louis Vuitton would give
him a bigger platform to express his talent. LVMH recruited the
prize-winning Northern Irish designer in 2013 after taking a
minority stake in his brand J.W. Anderson.
"Arnault is very fond of Anderson, everybody knows he adores
him," a second source said. "As of now, he is the best
positioned to replace Ghesquiere."
[to top of second column] |
The luxury goods industry downturn has prompted a series of
high-profile management and designer reshuffles, aimed at giving
brands a creative and strategy reboot to perk up their sales.
Burberry last week poached Celine's boss Marco Gobbetti to be its
new chief executive, becoming the latest major luxury label to
announce leadership changes after Dior, Chanel, Cartier, Balenciaga,
Yves Saint Laurent and Lanvin.
Ghesquiere worked at Balenciaga before joining Louis Vuitton. By
October, he will have been at the French label for three years.
Three years has become the standard length of time for designers to
stay at a fashion label, though there it no set formula as some have
worked at brands for more than a decade.
It is possible that Ghesquiere may not leave Louis Vuitton until
next year as his departure is likely to be a lengthy, complex and
delicate matter to negotiate and plan internally, the sources said.
"It is a sensitive issue which could take time to solve," a third
source said.
Ghesquiere's razor-sharp modern style has played out well at Louis
Vuitton's core leather goods business for which he created a popular
new range of handbags and the "V" logo.
However, his experimental, warrior-style silhouettes in
ready-to-wear has not yet lived up to commercial expectations,
several sources said.
LVMH, due to publish half-year results on July 26, does not disclose
separate sales figures for any of its brands.
(Editing by Pravin Char and Adrian Croft)
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