Chris de Lapuente, the head of LVMH’s selective retailing division, is set to retire at the end of October, marking a significant leadership change within the luxury conglomerate.
His departure was confirmed in an internal announcement by LVMH Moët Hennessy Louis Vuitton SE, following earlier reports by Bloomberg News.
De Lapuente has been with LVMH since 2011, initially joining as the CEO of Sephora, and he became a member of the executive committee the same year.
Under his leadership, the selective retailing division, which encompasses well-known brands such as Sephora and Parisian department stores like Le Bon Marché and La Samaritaine, has seen substantial growth. This division outperformed other units within LVMH last year and in the first half of this year, driven largely by Sephora’s booming sales. In fact, Sephora recorded impressive sales figures, achieving €12 billion in revenue by 2022 and targeting €20 billion in future sales, despite facing challenges in markets like China.
De Lapuente’s career prior to joining LVMH included significant roles at Procter & Gamble, where he held various positions across multiple countries. His extensive experience in retail management has been pivotal in shaping the direction of LVMH’s selective retailing strategy.
His retirement comes amid a broader restructuring within LVMH’s executive team. Earlier this year, several key changes were made to the executive committee, including the transition of Antonio Belloni from his role as CEO Bernard Arnault’s deputy to make way for Stéphane Bianchi. Additionally, Cécile Cabanis joined the committee as part of this revamp. The ongoing changes reflect LVMH’s strategy to rejuvenate its leadership and adapt to a shifting luxury market landscape following a period of post-pandemic growth.
As de Lapuente prepares to step down on October 31, the CEOs of Sephora, DFS (the luxury travel retailer), and Le Bon Marché will report directly to Bianchi moving forward. This transition is seen as part of a strategic move to enhance operational efficiency within the group during a challenging period for luxury goods demand.
