Dior Faucets Miu Miu CEO Benedetta Petruzzo as Managing Director

LVMH has snapped up one of many luxurious trade’s fastest-rising stars, tapping Miu Miu chief govt Benedetta Petruzzo to be managing director of Christian Dior Couture, efficient October 15.

Petruzzo will report back to Dior CEO Delphine Arnault in the important thing position, interfacing with the model’s govt committee, design studios, huge communications infrastructure and business groups worldwide. “Benedetta’s expertise and management can be main property within the continued improvement of Dior’s actions and its worldwide affect,” Arnault stated in an announcement.

Petruzzo has overseen a interval of explosive progress for Prada-owned Miu Miu since being named CEO of the label in 2020. The model’s revenues practically doubled within the first half of 2024 on high of an eye-popping annual progress fee of 58 % final yr. Development has been powered by a mixture of viral merchandise (suppose cut-off micro miniskirts and crystal-encrusted briefs) and ultra-wearable riffs on collegiate wardrobe staples, from “biker boots to ballerinas,” Petruzzo advised BoF in a current interview.

The Italian govt succeeds Dior’s present managing director, Charles Delapalme, who will “tackle vital new tasks inside the LVMH Group” to be introduced at a later date, Dior stated.

Petruzzo arrives at Dior because it seeks to ship a smooth touchdown after a interval of fast progress below designer Maria Grazia Chiuri and former CEO Pietro Beccari (who has sinced moved over to LVMH stablemate Louis Vuitton). With practically €10 billion in annual revenues, Dior is ready to leverage unprecedented scale and visibility because it navigates challenges together with a slower luxurious market, an inquiry by Italian authorities into manufacturing practices and slowing pleasure round buzzy objects just like the Ebook tote and menswear chief Kim Jones’ sneaker collabs.

LVMH’s transfer to recruit a key govt from smaller rival Prada Group reveals how luxurious gamers discover themselves competing head-to-head amid stagnation within the trade’s high line. In earlier slowdowns, the French group has leaned on its unmatched monetary fire-power to maintain snapping up manufacturers, expertise, actual property — and finally market share.

The Technique Behind Miu Miu’s Explosive Development

How did Miu Miu develop by 58 % final yr? CEO Benedetta Petruzzo breaks down the plan that has powered eye-popping acceleration in a slowing luxurious market.

Disclosure: LVMH is a part of a bunch of buyers who, collectively, maintain a minority curiosity in The Enterprise of Vogue. All buyers have signed shareholders’ documentation guaranteeing BoF’s full editorial independence.