LVMH Finds CEO for DFS Group
PARIS — LVMH Moët Hennessy Louis Vuitton is naming Benjamin Vuchot chairman and chief executive officer of its travel retail business DFS, promoting a Sephora executive with extensive experience in retail in Asia for the job.
“Over the last three years, he has built Asia into a pillar of global Sephora, expanding its footprint and building a strong organization,” Bernard Arnault, chairman and ceo of LVMH, said in an internal announcement seen by WWD.
The luxury executive also lauded Vuchot’s leadership as president of Sephora in Asia, noting he has an understanding of digital innovation, citing the need to meet “evolving expectations of consumers.”
Robert Miller, cofounder of DFS Group, thanked the outgoing executive Ed Brennan, who will leave after a three-month handover period and return as a full-time member of the DFS board of directors in January 2021.
Sales at LVMH’s selective retailing division, which includes Sephora and DFS, have been hit by global travel disruptions from the pandemic and were down by 32 percent in the first half of the year to 4.84 billion euros. DFS’ two main markets were affected to varying degrees, with Hong Kong heavily hit while store closures in Macau lasted only two weeks in the first half. DFS has been increasing digital marketing efforts, including a partnership with WeChat.
Vuchot graduated from the ESSEC business school in France and started his career at Cartier before moving on to direct Asian operations for Van Cleef & Arpels. He also has experience at DFS, where he headed operations in Greater China and South Korea in 2011.
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