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The pinnacle of LVMH’s enterprise unit that operates the Sephora magnificence chain and Parisian shops is ready to depart the posh group, in keeping with individuals accustomed to the matter.
The departure of Chris de Lapuente, who oversees the selective retailing division of LVMH Moët Hennessy Louis Vuitton SE, is prone to be introduced this week, the individuals mentioned. It’s unclear why the UK-born government is leaving.
De Lapuente, 61, joined LVMH in 2011 as chief government officer of Sephora. He turned a member of the manager committee of LVMH that very same yr.
His enterprise division additionally consists of Parisian shops Le Bon Marché and La Samaritaine, in addition to DFS, the posh journey retailer with a big publicity to Asia.
Sephora’s booming gross sales helped the division to outperform LVMH’s different items final yr and within the first half of this yr. Whereas selective retailing has gained floor, LVMH’s vogue and leather-based items unit stays the corporate’s greatest and most worthwhile enterprise.
LVMH and de Lapuente didn’t instantly reply to a request for remark.
By Angelina Rascouet
LVMH’s Sephora Cuts Round 10% of Employees in China as Woes Deepen
The wonder retailer is shedding a whole bunch of workers in China because it seeks to revitalise its struggling operations on the earth’s second-largest financial system, whereas additionally seeing departures amongst senior executives.
Disclosure: LVMH is a part of a bunch of traders who, collectively, maintain a minority curiosity in The Enterprise of Trend. All traders have signed shareholders’ documentation guaranteeing BoF’s full editorial independence.
