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.
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