US EditionLVMH Veteran Michael Burke to Head US and Other Operations
AMERICAS, JUL 7 – Michael Burke will lead LVMH Americas amid economic challenges, overseeing operations that include a U.S. market generating 25% of LVMH's €84.7 billion 2024 revenue.
- LVMH named longtime executive Michael Burke as chairman and CEO of LVMH Americas, effective July 7, as announced in internal and public statements amid challenging market conditions.
- Amid a deep downturn in the luxury market, weakening demand in the U.S. and China and ongoing trade tensions prompted Burke’s appointment, highlighting industry challenges.
- LVMH CEO Bernard Arnault announced Burke's appointment as head of LVMH Americas, citing market challenges amid a 2% Q1 revenue decline and 3% US sales drop, during a period of economic and trade tensions.
- LVMH's appointment of Michael Burke as head of Americas signals its strategic focus on growth amid a luxury market downturn and geopolitical challenges.
- LVMH's appointment of Burke during a complex geopolitical period underscores its ambition to deepen investment and growth in the Americas.
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Faced with the slowdown in luxury in the United States, LVMH relies on a loyal relative. Michael Burke takes the lead in a new Americas division, a strategic position supposed to strengthen the group's position in a losing market.
LVMH has appointed Michael Burke as the head of its operations in America, recovering a veteran of the group to face some of the biggest challenges the company has faced in the region. Burke, 68, who has worked with executive director Bernard Arnault since the beginning of the tycoon in the 1980s, will oversee operations in North and South America, and report directly to the general director of the LVMH group, Stéphane Bianchi, as indicated by t…
·Madrid, Spain
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Leaning Left1Leaning Right2Center5Last UpdatedBias Distribution63% Center
Bias Distribution
- 63% of the sources are Center
63% Center
13%
C 63%
R 25%
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