Sidney Toledano hands over the reins at LVMH Fashion Group
Sidney Toledano has handed over the Chairman and CEO reins of the LVMH Fashion Group to former Louis Vuitton CEO Michael Burke, and has stepped into a new role as strategic adviser to LVMH Chairman and CEO Bernard Arnault.
The move means Toledano, who has led the luxury conglomerate's fashion division since 2018, will step down from the LVMH Executive Committee. Toledano has been with LVMH for 30 years and has been instrumental in its massive growth. He joined LVMH-owned Christian Dior in 1994 and rose to Chairman and CEO of the house in 1998 with a mandate to elevate it to become one of the world's leading luxury brands.
In February 2018, Toledano was appointed Chairman and CEO of LVMH Fashion Group, which is home to many of the world's best known luxury fashion brands including Dior, Louis Vuitton, Loewe, Celine, Fendi and Givenchy among others.
Speaking of the shift in leadership, Bernard Arnaud said: “Sidney Toledano is an exceptional leader who has been by my side for many years, firstly at Dior and then at the LVMH Fashion Group. Over more than 30 years of close and fruitful collaboration, he has identified and promoted numerous creative talents who are now among the world’s most recognised designers. With his unique strategic vision, he played a pivotal role in making Dior the world’s most prestigious and admired fashion Maison. As Head of LVMH Fashion Group, his creative leadership contributed to the spectacular growth of our fashion Maisons, which benefited from his deep experience in further strengthening their desirability. Sidney Toledano will remain very much involved as my Advisor and will continue to share his passion and exacting professionalism with all the Group’s teams. He still has a tremendous amount to bring to us.“
Michael Burke and Sidney Toledano
Michael Burke has, since 2023, been a strategic adviser to Arnault and has a long career in luxury and at LVMH, where he is credited with transforming Louis Vuitton into a global luxury fashion powerhouse. He initially joined the investment arm, Groupe Arnault, with responsibility for investments in the United States before becoming CEO of Christian Dior USA from 1986 to 1992, and then of Louis Vuitton North America from 1992 to 1997. In 1997 he was named Worldwide Managing Director of Christian Dior Couture, and subsequently Chairman and CEO of Fendi in 2003. In 2012 he was appointed CEO of Bulgari and then Chairman and CEO of Louis Vuitton. In January 2021, he became non-executive Chairman of Tiffany’s Board of Directors.
“After steering Louis Vuitton to new levels of success, I am delighted to see Michael Burke as Head of the Fashion Group. By my side even before the creation of LVMH, he has always been a key player in the Group’s success, largely thanks to his remarkable discernment and finesse of his work at the Head of Fendi, Bulgari and Louis Vuitton. These Maisons continued to grow and evolve while remaining faithful to their heritage and to their unique savoir-faire. Under his leadership, Louis Vuitton became the largest and most prestigious Maison in the world, placing culture at the heart of its creative vision and development. His extensive experience and his passion for craft and creativity are invaluable assets to pursue and further accelerate the dynamic growth of the Maisons in the LVMH Fashion Group,” said Arnault.
Toledano said of his new chapter: “By offering me the chance to join Dior and then lead it for 20 years, Bernard Arnault gave me an incredible opportunity to be part of a unique entrepreneurial and family-led adventure with a long-term vision, this has brought me immense pleasure each and every day. My time with the LVMH Group has been the most enriching and stimulating experience of my career. I have been fortunate enough to be surrounded by talented designers, exceptional craftsmen and incredibly dedicated teams. I want to warmly thank Bernard Arnault for all we have accomplished together. We both share a passion for innovation, creativity, excellence and passing on savoir-faire. It is thanks to his bold vision that the LVMH Group is today a global leader.
"I am also delighted to see one of my most experienced colleagues along this journey succeed me at the head of the Fashion Group. His energy and universally acclaimed talent will prove a fantastic guide for all the fashion Maisons he will directly oversee. I wish him every success in this new adventure. I will never be far, and I will continue to work alongside Bernard Arnault and remain involved with the fashion industry at the Institut Français de la Mode (IFM) or at the Executive Committee of the Fédération de la Haute Couture et de la Mode to promote exceptional French creativity."
Burke added: “I am proud and honoured by the confidence of Bernard Arnault who, after 40 years of collaboration, has offered me an exciting and passionate challenge as Head of the LVMH Fashion Group and its many iconic Maisons. Like him and like Sidney, whom I succeed, I am a great believer in long-term vision, in craftsmanship, in creativity and in excellence. These are all ingredients in the recipe I intend to apply with the teams at these Maisons to elevate their desirability and set new records even further. Sidney and I have been friends and partners as we shared adventures for over 30 years. He has done a terrific job at the helm of these Maisons, encouraging their creativity and bringing them the benefits of his unique experience as a seasoned leader. I fully embrace the objective of heightening the magic of these extraordinary Maisons, with their amazing capacity for innovation and their unique history and savoir-faire.“
Main image: Dior SS24 (PA)
