FORMER LVMH EXEC PIERRE-YVES ROUSSEL JOINS TORY BURCH AS CEO
Earlier this year, Pierre-Yves Roussel stepped down as chairman and CEO of LVMH Fashion and was said to remain with the group as a special adviser to Bernard Arnault, but there’s been a change of plans. Instead, Roussel will join his new wife, Tory Burch, as the CEO of her eponymous business, starting in early 2019.
Roussel will be based out of Tory Burch’s New York headquarters; he will join and report to the company’s board of directors. In partnership with Ms. Burch, he will lead and implement the company’s global strategy with a focus on operations.
“There are very few leaders in the industry who have both a commercial track record and a deep admiration for the creative process,” said Tory Burch, who is currently chief executive officer and will assume the role executive chairman and chief creative officer. “I respect what he has built at LVMH and value the way he thinks about business, luxury and the fashion industry as a whole. He also shares my belief in the importance of a culture-led company. We have a strong management team in place and Pierre-Yves is a natural fit as we continue to focus on long-term growth and global expansion.”
“I’m very excited to have the opportunity to join such an iconic lifestyle brand with a unique and authentic identity. Under Tory’s leadership, the company has had unprecedented success and is well positioned for long-term growth globally,” added Roussel. “From day one, investing in creativity and innovation has always been a strategic priority for the company. I look forward to working with Tory and her team to build on these investments and execute the business strategy.”
Roussel was chairman and CEO of the LVMH Fashion Group for the last 15 years and a member of the LVMH executive committee. During his time at LVMH, Roussel successfully led the repositioning and global development of the fashion brands portfolio of the group including, among others, Celine, Givenchy, Loewe and Pucci. Roussel started his career as a financial analyst at HSBC and Morgan Stanley followed by 14 years with McKinsey & Company as a senior partner in charge of the luxury, retail and consumer goods practice.
