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The head of LVMH’s business unit that operates the Sephora beauty chain and Parisian department stores is set to leave the luxury group, according to people familiar with the matter.
The departure of Chris de Lapuente, who oversees the selective retailing division of LVMH Moët Hennessy Louis Vuitton SE, is likely to be announced this week, the people said. It’s unclear why the UK-born executive is leaving.
De Lapuente, 61, joined LVMH in 2011 as chief executive officer of Sephora. He became a member of the executive committee of LVMH that same year.
His business division also includes Parisian department stores Le Bon Marché and La Samaritaine, as well as DFS, the luxury travel retailer with a significant exposure to Asia.
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Sephora’s booming sales helped the division to outperform LVMH’s other units last year and in the first half of this year. While selective retailing has gained ground, LVMH’s fashion and leather goods unit remains the company’s biggest and most profitable business.
LVMH and de Lapuente didn’t immediately reply to a request for comment.
By Angelina Rascouet
Learn more:
LVMH’s Sephora Cuts Around 10% of Staff in China as Woes Deepen
The beauty retailer is laying off hundreds of staff in China as it seeks to revitalise its struggling operations in the world’s second-largest economy, while also seeing departures among senior executives.
Disclosure: LVMH is part of a group of investors who, together, hold a minority interest in The Business of Fashion. All investors have signed shareholders’ documentation guaranteeing BoF’s complete editorial independence.
