LVMH Taps Michael Schriver To Oversee Greater China, Korea


Luxury conglomerate LVMH has named Michael Schriver, a veteran executive from the group’s DFS, Louis Vuitton and Tiffany units, to lead its operations in China and South Korea as Group President for North Asia.

Andrew Wu, the group’s current president for Greater China, will remain in place, reporting to Schriver.

The move to reinforce its leadership in the region comes amid an uneven recovery from coronavirus, with health restrictions including sporadic strict lockdowns making the key Chinese market unpredictable and tricky for brands to navigate. LVMH’s sales in Asia (excluding Japan), rose just 1 percent in the first half of the year.

Schriver has previously worked as President, North Asia at LVMH flagship Louis Vuitton and as Chief Operating Officer of tax-free retailer DFS.

The nomination is “a strong signal of our determination to invest in our future in Asia and to enhance collaboration across our organisation,” LVMH chairman Bernard Arnault said in a statement.

Learn more:

Luxury’s Outlook in China Is Increasingly Uncertain

The long-term fundamentals of the all-important China market remain strong but short-term headwinds mean luxury brands could face a challenging year ahead.

Michael Schriver, LVMH's group president for North Asia.



Credit: Source link

Discover

19,463FansLike
232,230FollowersFollow
75,262FollowersFollow
13,828FollowersFollow
2,920SubscribersSubscribe

Sponsor

spot_imgspot_img

Latest

Finally, Watching ‘Friends,’ Lisa Kudrow’s Son Julian Murray Stern Made A Comment That Will Undoubtedly Make You Laugh

One of the most well-known, profitable, and well-liked sitcoms in the world is Friends....

Keto Pumpkin Pecan Muffins – Better Living

  If you’re looking for a delicious, keto-friendly, and low-carb treat to get you through the fall and winter, then you need to try...

Here’s What Zendaya Looks Like Without Makeup

Zendaya is known as a classic Hollywood beauty. However, in this photo that Zendaya posted on her Instagram in 2019, she looks a...

Americans Cut Luxury Spending Ahead of Key Holiday Season

Americans have cut back on buying luxury goods like designer clothing and accessories over the past two months, according to data from three credit-card companies,...

RealityScan is now free to download on iOS

Automated cloud processing Once you’ve taken photographs of an object, RealityScan does the hard work for you by assembling the model using cloud processing....
en English
X