Luxury giant LVMH has appointed its longtime executive Michael Burke as president and CEO of LVMH Americas, which covers the group’s operations in North and South America.

The group’s chairman and CEO Bernard Arnault announced the appointment in a memo to staff on Monday.  

Burke is a member of the LVMH executive committee and has been chairman and CEO of LVMH Fashion Group, a division that includes Celine, Givenchy, Kenzo, Loewe, Marc Jacobs, Patou, Pucci and Rossimoda, since last February. He has also been an adviser to the chairman since 2023.

Burke joined Groupe Arnault with responsibility for investments in the US before becoming CEO of Christian Dior US from 1986 to 1992, and Louis Vuitton North America from 1992 to 1997.

He has also held leadership positions at the group’s other brands including Christian Dior, Fendi, Bulgari,  Louis Vuitton and Tiffany.

In his new role, Burke will report to LVMH MD Stephane Bianchi, while the executives in charge of US and Latin America operations will report to him.

According to Reuters, the appointment comes as the luxury industry faces a deep downturn, with economic pressures and price fatigue weighing on the appetite for high-end goods in China and the US.

LVMH reported a 3 per cent decline in sales for the first quarter, as shoppers in the US pulled back on beauty products and drinks while sales in China remained weak.