It will be a very merry Christmas for LVMH who has booked a $US3.5 billion ($AUD4.3 billion) gain on Hermès stock distribution. The MO Down reported last month that LVMH was waving the white flag to Hermès over their much publicised war and distributing their 23 per cent share of the French luxury house to investors.
The LVMH roundabout continues when it comes to management… this time in the TAG Heuer stable with the news that Jean-Claude Biver, head of French luxury goods group LVMH’s watch business, is taking over as head of the group’s biggest watch brand, TAG Heuer, after the brand’s chief executive Stephane Linder stepped down. WWD
Hot off the press is the Kering announcement, which seemed to be simmering for a while might we add, that the CEO of Gucci, Patrizio di Marco, will leave the company on 1 January, 2015; He will be succeeded by Marco Bizzarri who joined the Kering group in 2005 as CEO of Stella McCartney and was