Louis Vuitton owner LVMH named Michael Burke as chairman and chief executive of its Americas division, sharpening its focus on the region at a time when the luxury sector navigates waning demand and President Trump's tariffs.
The appointment, set to bolster the group's presence in North and South America in a complex period for trade and geopolitics, reflects LVMH's ambition to further invest in the region in coming years, according to a company memo seen by The Wall Street Journal. Burke, who has already taken on his new role, will report to Stephane Bianchi, LVMH's managing director.
The U.S., a core market for high-end brands, emerged as a bright spot for the luxury-goods industry at the start of 2025 amid a consumer pullback in China. The sector was hopeful that growth in the U.S. would help lift its fortunes amid a persistent slowdown.
This week, the White House said it would extend a pause on raising tariffs until Aug. 1, giving some trading partners more time to reach potential trade deals with Washington. Still, uncertainty and market turmoil are expected to weigh on demand for luxury goods.
Geopolitical and trade tensions as well as currency fluctuations have already dented confidence among high-spending clients, according to a report by Bain & Co. in partnership with Italian luxury-goods industry association Altagamma published earlier this year.
Bernard Arnault, LVMH's chairman and CEO, said Burke would help lead the group's business at a "strategic time in the Americas," as uncertainty around Trump's levies on imported goods to the U.S. takes center stage.
The French billionaire said in April that he would like to see a free-trade area between Europe and the U.S., laying out hopes for a new transatlantic relationship. Arnault told shareholders at the company's annual general meeting that tariff disputes needed to be resolved amicably and that Brussels would be to blame if talks failed to produce an agreement.
LVMH also appointed Burke as nonexecutive chairman of Tiffany's board of directors. Since early 2024, he has been chairman and CEO of LVMH Fashion Group, a division that houses brands including Celine, Givenchy, Kenzo, Loewe, Marc Jacobs, Patou, Pucci and Rossimoda.
Write to Andrea Figueras at andrea.figueras@wsj.com
Bernard Arnault is a French businessperson who has been at the helm of 10 different companies and presently holds the position of Chairman of Christian Dior SE, Chairman for Château Cheval Blanc SC, Chairman & Chief Executive Officer at LVMH Moët Hennessy Louis Vuitton SE, Co-Chairman of Groupe Arnault SE and President for Groupe Arnault SE. He is also Chairman for Fondation Louis Vuitton pour la Création and on the board of 5 other companies.
He previously held the position of Chairman & Chief Executive Officer of Ferret Savinel Co., Chairman & Chief Executive Officer for Nexity SA, Chairman & Chief Executive Officer for Société Financière Agache SA and Chairman & Chief Executive Officer at Financière Agache SA.
Mr. Arnault received an undergraduate degree from Ecole Polytechnique.
LVMH Moët Hennessy Louis Vuitton SE is the world leader in luxury products. Net sales break down by family of products as follows:
- fashion and leather items (46.7%): brands such as Louis Vuitton, Christian Dior, Celine, Loewe, Kenzo, Givenchy, Fendi, Emilio Pucci, Marc Jacobs, Berluti, Loro Piana, etc.;
- watches and jewels (13%): Bulgari, TAG Heuer, Zenith, Hublot, Chaumet, Fred brands, Tiffany, etc.;
- perfumes and cosmetics products (10.1%): perfumes (Christian Dior, Guerlain, Loewe, Kenzo, Givenchy brands, etc.), makeup products (Make Up For Ever, Guerlain, Acqua di Parma, etc.), etc.;
- wines and spirits (6.6%): champagnes (Moët & Chandon, Dom Pérignon, Veuve Clicquot, Krug, Ruinart, Mercier, Château d'Yquem, Domaine du Clos des Lambrays, Château Cheval Blanc, Colgin Cellars, Hennessy, Glenmorangie, Ardbeg, Belvedere, Woodinville, Volcán de mi Tierra, Chandon, Cloudy Bay, Terrazas de los Andes brands, etc.; No. 1 worldwide), wines (Cape Mentelle, Château D'Yquem, etc.), cognacs (mainly Hennessy; No. 1 worldwide), whisky (mainly Glenmorangie), etc.;
The remaining net sales (23.6%) are from selective distribution through the Sephora, DFS, Miami Cruiseline chains and Le Bon Marché and La Samaritaine department stores.
At the end of 2025, products are marketed via a network of 6,283 outlets located throughout the world.
Net sales are distributed geographically as follows: France (8.3%), Europe (18%), Japan (7.9%), Asia (26.5%), the United States (25.6%) and other (13.7%).
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