Fendi Appoints New CEO Amid LVMH Exec Shuffle

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Fendi Appoints New CEO Amid LVMH Exec Shuffle
Pierre-Emmanuel Angeloglou is also managing director of the LVMH Fashion Group.

LVMH continues to reshuffle its executive leadership. The French luxury conglomerate announced in an internal note Monday that Pierre-Emmanuel Angeloglou is the new CEO of Fendi, effective 1 June. The executive is currently managing director of the LVMH Fashion Group, a role he’ll keep while leading Fendi. He succeeds Serge Brunschwig, who will be taking on new responsibilities within LVMH.

“Bernard Arnault, LVMH chairman and CEO, would like to thank Serge for his contribution as he has accompanied Fendi to a significant level of growth since 2018,” the note reads.

The appointment comes amidst ongoing changes among the upper ranks of LVMH Fashion Group, which includes Celine, Fendi and Loewe. On 1 February, Michael Burke became chairman and CEO of the Fashion Group, succeeding Sidney Toledano. In March, Angeloglou was appointed managing director of the LVMH Fashion Group, overseeing Fendi, Kenzo, Marc Jacobs, Pucci, Stella McCartney, Patou and Off-White. Sources say – and it’s been previously reported – that Toledano is now returning to the LVMH Fashion Group, though in what capacity is not yet known. Asked to comment, LVMH denies any change at the helm of the Fashion Group.

On the agenda, Givenchy has yet to appoint a creative director following the departure of Matthew Williams, while there are persistent rumors about upcoming changes at the creative helm of Celine.

 

Fendi is LVMH’s fourth largest fashion brand behind Louis Vuitton, Dior and Celine. (Celine overtook Fendi in terms of revenue in 2023, generating €2.6 billion compared to Fendi’s €2.44 billion, per HSBC estimates.) The Roman house recently said it will opt out of the couture calendar in June.

Before the LVMH Fashion Group, Angeloglou spent nearly five years at Louis Vuitton, most recently as executive vice president, strategic missions from 2022. He also spent 23 years at L’Oréal.

Source:Vogue Business