Anthropic Reportedly Taps Wilson Sonsini as It Prepares for a Potential 2026 IPO 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
Dollar Weakens Ahead of Expected Federal Reserve Rate Cut 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
Netflix’s Bid for Warner Bros Discovery Aims to Cut Streaming Costs and Reshape the Industry 
IKEA Launches First New Zealand Store, Marking Expansion Into Its 64th Global Market 
Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
ExxonMobil to Shut Older Singapore Steam Cracker Amid Global Petrochemical Downturn 
BOJ Faces Pressure for Clarity, but Neutral Rate Estimates Likely to Stay Vague 
GM Issues Recall for 2026 Chevrolet Silverado Trucks Over Missing Owner Manuals 
UPS MD-11 Crash Prompts Families to Prepare Wrongful Death Lawsuit 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
Tesla Faces 19% Drop in UK Registrations as Competition Intensifies 
EU Prepares Antitrust Probe Into Meta’s AI Integration on WhatsApp 
Trump Administration to Secure Equity Stake in Pat Gelsinger’s XLight Startup 
LVMH, the parent company of Louis Vuitton, revealed a leadership reshuffle for its beauty division as competition in this business sector heats up. As part of the shake-up, the French luxury brand announced it has appointed Stéphane Rinderknech to be the new chairman and chief executive of its beauty unit.
LVMH said on Monday, March 6, that its Guerlain and Parfums Christian Dior have their respective new chiefs as well. As per Reuters, the newly-appointed CEO of its beauty unit was a former executive at L'Oreal who has extensive work experience in Asia and the United States.
He joined the company last year and has been leading LVMH’s hotel business since then. The firm said that even with his new position in its beauty business, Rinderknech will still continue managing the hotel division.
Moreover, his assignment as the new chief includes global responsibility for LVMH’s beauty line. On the other hand, Guerlain’s chief, Veronique Courtois, was also promoted to president and CEO roles of Parfums Christian Dior. Gabrielle Saint-Genis Rodriguez, the head of Make Up For Ever, will then become president and CEO of Guerlain.
The leadership shake-up comes as many luxury brands have been experiencing high demand in the post-pandemic era. With this, LVMH is one of the companies that is looking to expand its businesses.
"Stéphane has since his arrival guided the rebound of our hotel activities with considerable strategic agility, driving tremendous momentum across the entire organization," Bernard Arnault, LVMH’s chairman and CEO, said in a statement on Monday, March 6.
Meanwhile, Vogue Business reported that LVMH’s announcement of new leaders indicates its plan to compete more aggressively in the beauty industry, which is currently being dominated by beauty and cosmetic companies such as Coty, Estée Lauder, and L’Oréal. Other luxury brands like Hermés and Chanel are also jumping into this market which is further heating up the competition.
Photo by: Christian Wiediger/Unsplash
