Tiffany & Co. To Have A New Management Team After Its Acquisition By LVMH
Speculations are pointing towards Alexandre Arnault and Anthony Ledru to take the top positions within Tiffany & Co.
By Joseph Low
[Update: 8 January 2021]
Anthony Ledru has been appointed the CEO of Tiffany & Co., replacing Alessandro Bogliolo while Alexandre Arnault takes on the role as Executive Vice President of Product and Communications leaving his CEO position at Rimowa where he will be succeeded by Hugues Bonnet-Masimbert, the brand’s Executive Vice President of Sales and Client Operations; Michael Burke, CEO and Chairman of Louis Vuitton will also become chairman of Tiffany’s board.
The scion of French luxury conglomerate, LVMH is set to lead the newly acquired Tiffany & Co. with Louis Vuitton’s Head of Global Commercial Activities. Alexandre Arnault, the second oldest son of billionaire Bernard Arnault, is already the CEO of suitcase-brand, Rimowa and joining him is Anthony Ledru who has had vast experience in managing jewellery brands such as Cartier and Harry Winston prior joining the company. The founder of LVMH, Bernard Arnault, has for many occasions, appointed his children to top positions within the company; Antoine heads Berluti and the company’s image and communications division; His daughter, Delphine as Louis Vuitton’s executive vice president while another son, Frederic leads Tag Heuer.
The road to securing a deal between LVMH and Tiffany & Co. was not an easy one considering how much back and forth was done. Lawsuits were filed between the two companies, negotiations were held and then finally a deal was agreed upon last December and the US jeweller is bought over for $16 billion — the biggest transaction to be made in the industry.