French luxury goods group LVMH reported a 3% drop in comparable sales for the fourth quarter, as a boom in revenues at its big fashion brands like Louis Vuitton offset a weak performance at its duty free shops.
CEO of Louis Vuitton Japan David Ponzo has been catapulted to the role of EVP for global commercial activities at LVMH's flagship brand, succeeding Anthony Ledru, who has taken over as head of Tiffany & Co.
Rimowa has appointed Hugues Bonnet-Masimbert as its new CEO, effective immediately. He succeeds Alexandre Arnault, who has become executive VP for product and communications at American jeweler Tiffany & Co.
French luxury goods group LVMH on Thursday named two top Louis Vuitton executives as new managers of Tiffany and overhauled the design team in its first shake-up of the US jeweller following a $15.8 billion acquisition.