The world’s richest man, Bernard Arnault, has appointed his daughter to head up fashion house Dior.
Arnault promoted Delphine Arnault, 47, as part of a reshuffle at LVMH, Europe’s most valuable company.
It owns a portfolio of high-end brands including Fendi and Louis Vuitton and is worth about £336bn.
The outgoing head of Dior, Pietro Beccari, will move to replace long-time Louis Vuitton chief executive Michael Burke.
Both Ms Arnault and Mr Beccari “are well respected”, so these are “logical promotions within the group,” said Credit Suisse analyst Natasha Brilliant.
All five of Mr Arnault’s children hold management positions at brands in the group.
The changes, which come into effect in February, follow the recent appointment of Antoine Arnault, Bernard Arnault’s eldest son, to head the family’s holding company.
Alexandre Arnault, 30, is in charge of products and communication at Tiffany, while Frederic Arnault, 28, is chief executive of another group brand, Tag Heuer.
The youngest child, Jean Arnault, 24, heads marketing and product development for Louis Vuitton’s watches division.
Both Ms Arnault and Mr Beccari “are well respected”, so these are “logical promotions within the group,” said Credit Suisse analyst Natasha Brilliant.
All five of Mr Arnault’s children hold management positions at brands in the group.
The changes, which come into effect in February, follow the recent appointment of Antoine Arnault, Bernard Arnault’s eldest son, to head the family’s holding company.
