Arnault makes herself at home at Louis Vuitton
PARIS — Louis Vuitton has tapped billionaire heiress Delphine Arnault as the company’s EVP. As the second in command, the daughter of LVMH CEO Bernard Arnault will oversee all product-related activities of the Louis Vuitton House.
"I am delighted to work again with Delphine Arnault,” said chairman and CEO of Louis Vuitton Michael Burke. “I have had the opportunity to appreciate her human qualities and professional skills in the past. Her intimate knowledge of the universe of our high-quality products and her experience at the helm of one of the most prestigious houses in the group are key assets to contribute to the successful development of Louis Vuitton in the world."
A graduate of the Edhec Business School and of the London School of Economics, she started her career with McKinsey, the strategy consultancy, prior to joining LVMH in 2000. In 2001, she joined the executive committee of Christian Dior Couture, of which she has been deputy managing director since 2008.
LVMH Moët Hennessy Louis Vuitton’s portfolio of brands includes Moët & Chandon, Dom Pérignon, Veuve Clicquot Ponsardin, Krug, Ruinart, Mercier, Château d’Yquem, Hennessy, Glenmorangie, Ardbeg, Numanthia, Vodka Belvedere, 10 Cane, Chandon, Cloudy Bay, Terrazas de los Andes, Cheval des Andes, Green Point, Cape Mentelle and Newton.
Its fashion and leather goods division includes Louis Vuitton, Céline, Loewe, Kenzo, Givenchy, Thomas Pink, Fendi, Emilio Pucci, Donna Karan, Marc Jacobs, Berluti and StefanoBi. Its perfumes and cosmetics segment includes Parfums Christian Dior, Guerlain, Parfums Givenchy, Parfums Kenzo, Perfumes Loewe as well as other cosmetic companies such as BeneFit Cosmetics, Make Up For Ever, Acqua di Parma and Fresh.
Zimmer may seek return to Men’s Wearhouse
Fremont, Calif. – In another twist to the ongoing Men’s Wearhouse-George Zimmer saga, Reuters reports that Men’s Wearhouse founder and former executive chairman Zimmer is contemplating trying to recapture his position as executive chairman through such means as a buyout attempt with private equity backing or rallying the support of shareholders. Neither Zimmer nor Men’s Wearhouse has officially commented, but Zimmer is reportedly consulting advisers, including his legal counsel, Cooley LLP. Zimmer resigned his position on the retailer’s board of directors yesterday.
The board of directors of Men’s Wearhouse also is offering new comments about its recent decision to terminate Zimmer on June 19. In an official statement, the board said terminating Zimmer was not intended to hurt him, but to protect the best interest of Men’s Wearhouse and its shareholders and employees.
"Mr. Zimmer had difficulty accepting the fact that Men’s Wearhouse is a public company with an independent board of directors and that he has not been the CEO for two years,” said a statement attributed to the board of directors. “He advocated for significant changes that would enable him to regain control, but ultimately he was unable to convince any of the board members or senior executives that his positions were in the best interests of employees, shareholders or the company’s future.”
The board cited specific issues of contention with Zimmer, including refusal to support CEO Doug Ewert and other members of the management team, demand for veto power over executive compensation, objection to a previously agreed upon review of strategic alternatives for K&G and support of selling the company to an investment group against the wishes of the rest of the board. Men’s Wearhouse also said that Zimmer left them no options other than giving him full control of the company or terminating him.
Coty revamps executive leadership
NEW YORK — Beauty brand Coty has promoted Stephen Mormoris to the position of SVP, global marketing American fragrances, Coty Prestige. Additionally, Johanna Businelli has been promoted to the newly created position of SVP, color cosmetics, Coty Beauty.
Mormoris will be charged will strengthening and building brands such as Calvin Klein, Marc Jacobs and Balenciaga, as well as developing new luxury fashion and lifestyle brands. He will also retain responsibility for scouting new partnerships in the fragrance arena as well as overviewing some strategic relationships with existing partners. Mormoris will report to Jean Mortier, president, Coty Prestige.
"Steve is a seasoned, top-notch marketer who has played a key role in Coty’s success throughout the past 12 years," said Mortier . "Thanks to his creativity, business sense and broad understanding of global market trends, he has built strong, enduring, consumer-relevant brands in cosmetics and fragrances. His appointment will further strengthen the global ambitions of our brands, as we continue to develop Coty as a dynamic worldwide beauty leader."
"I have a real passion for Coty, the beauty industry and the brand partners who have been so instrumental in our success," added Mormoris. "I look forward to taking on this new role with gusto and helping the Coty brand further develop through Coty Prestige; the potential is fantastic."
Mormoris, who joined Coty in 2001, has been the architect of the Coty Beauty fragrance portfolio, establishing fashion and celebrity brands spanning the prestige and mass markets, and overseeing strong organic growth. He developed strong relationships with Coty license partners such as Halle Berry, David and Victoria Beckham, Beyonce, Celine Dion, Guess, Heidi Klum, Kylie Minogue, Kate Moss and Katy Perry.
He also contributed to the development of Coty’s color cosmetics portfolio, which now spans entry price brands to more premium and image-driven brands. He is credited with helping to turn Rimmel into a leading trendy, value-driven global cosmetics brand. He was also responsible for leveraging the Sally Hansen’s leadership positioning in the nail category in the U.S., creating different consumer offers in nail color, nail appliques and gel color technology.
Businelli’s role marks the first time Coty has had a senior marketing position fully dedicated to color cosmetics, which has become the second-largest and fastest-growing segment in Coty. She will ensure the expansion of Coty’s color portfolio, growing brands such as Astor, Rimmel, Sally Hansen, Manhattan and NYC. She will also lead, along with chief scientist officer Ralph Macchio, the Coty Color Technology Innovation Council. Businelli will report to Renato Semerari, president, Coty Beauty.
"Johanna has already made her strong personal mark on the development of our business. With her avid enthusiasm and industry-leading expertise, she will make a great impact in color cosmetics, which has grown to become the second-largest segment for Coty," said Semerari.
"The creation of this role demonstrates the importance of the color cosmetics sector to Coty," added Businelli. "And it is a very positive step for the future, allowing me to leverage my knowledge of the market and the consumer for color cosmetics across the company."
Businelli joined Coty in 1997 with Coty’s acquisition of Rimmel. Since then, she has occupied diverse and growing marketing and general management positions both in the United Kingdom and in Italy. She was most recently in charge of global trade marketing for the color category, working closely across global teams to align Coty’s marketing initiatives with company priorities.
Coty’s portfolio of fragrances, color cosmetics and skin and body care products are sold in more than 130 countries and territories. Coty’s product offerings include global brands Adidas, Calvin Klein, Chloe, Davidoff, Marc Jacobs, OPI, philosophy, Playboy, Rimmel and Sally Hansen.