Leadership Shake-Up at LVMH as Sephora Boss Steps Down

LVMH’s division overseeing Sephora and several iconic Parisian department stores is undergoing a significant leadership change, with its head stepping down at the end of October. The luxury conglomerate confirmed on Wednesday that Chris de Lapuente, who has been with the company for over a decade, will be retiring on October 31.

According to an internal announcement, LVMH revealed that de Lapuente, aged 61, first joined the company in 2011, taking the role of Sephora’s CEO and later becoming part of LVMH’s executive committee that same year. His leadership extended beyond Sephora to include Le Bon Marché, La Samaritaine, and DFS, a luxury travel retailer with a prominent presence in Asia.

Under de Lapuente’s guidance, Sephora’s robust sales performance helped the selective retailing division outpace many of LVMH’s other businesses over the past year and into the first half of this year. Despite this, the company’s fashion and leather goods sector remains the largest and most profitable arm of the business.

Earlier this year, LVMH’s executive committee saw a shake-up with the departure of Antonio Belloni, the deputy to CEO Bernard Arnault, allowing Stephane Bianchi to step in. Cecile Cabanis, who is positioned to succeed Jean-Jacques Guiony as Chief Financial Officer, also joined the committee in June.

These executive shifts are taking place against a backdrop of cooling demand for luxury goods following the surge seen in the years immediately after the pandemic. LVMH also noted that the heads of Sephora, DFS, and Le Bon Marché will now report directly to Bianchi moving forward.

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