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Dior Boss Toledano to Step Down in LVMH Reshuffle

09 Novembre 2017

Pietro Beccari, Chief Executive Officer of Fendi maison, attends an opening ceremony after the restoration of Rome's Trevi Fountain, November 3, 2015. The report added that Pietro Beccari, now CEO of Fendi, will step into Toledano's role as CEO of Christian Dior Couture. Brandolese initially took on an unspecified role at Fendi, and his new position within LVMH is expected to be announced by early next year.

Meanwhile, Dior's current boss Toledano, who has been at the head of the brand for almost 20 years, will be succeeded by the chief executive of LVMH stablemate Fendi, Pietro Beccari.

He will now head a broader fashion group within LVMH and be named to LVMH's executive committee, the company said, as will Beccari.

The current reshuffle at LVMH signals at a transformation fashion industry in witnessing with young executives stepping in to drive faster growth in the Internet era.

Dior's sales have doubled over the past five years.

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"Arnaud said of Toledano: "[He] is the driving force behind the huge success of Christian Dior Couture across the world.

Toledano also extended Dior's store network, which stands at close to 200 worldwide, cut the brand's reliance on third-party distributors and put the onus on developing its craftsmanship on products such as its handmade bags.

66-year-old, Sidney Toledano had previously served within the Lancel (swiss group Richemont), of which he was director-general until 1993, the year of his stint at Christian Dior Couture to develop the leather goods, before becoming group CEO in 1998. It is also Sidney Toledano who had set on foot the fashion designer John Galliano in 2011 after his insults of anti-semitic behaviour in a paris cafe.

After its own long search to replace another creative head, Raf Simons, Dior appointed its latest artistic director - and first female top designer - Maria Grazia Chiuri, formerly of Valentino, in 2016.

Roussel, who head of the group's fashion arm, will relinquish his role to become special advisor to LVMH's chief executive and chairman Bernard Arnault in January, assuming "new operational responsibilities" in the near future.

Dior Boss Toledano to Step Down in LVMH Reshuffle