LVMH Names Andrea Guerra CEO of New Hotel Division
January 31 2020 - 10:29AM
Dow Jones News
By Cristina Roca
LVMH Moet Hennessy Louis Vuitton SE (MC.FR) has picked
ex-Luxottica executive Andrea Guerra to head its new hotel
division, it said Friday.
The French luxury-goods giant named Mr. Guerra chief executive
of the newly-created hospitality excellence division, and said he
will also become a member of its executive committee. The
appointment is effective March 16, LVMH said.
The appointment confirms media reports identifying Mr. Guerra as
LVMH's pick for the new division earlier this week.
"A hire of this calibre would only confirm our view that LVMH is
leading the pack in developing a very broad portfolio of many
different ways to satisfy demand for luxury products and services,"
Jefferies analysts said, commenting on those reports. According to
the bank, the appointment confirms the French group's increasing
focus on the "experiential" aspect of luxury.
LVMH, which owns the Louis Vuitton and Dior brands as well as
Hennessy cognac among others, created the division after buying
luxury hotel company Belmond last year. The unit will encompass
Belmond and Hotels Cheval Blanc.
Mr. Guerra, who was chief executive of Luxottica, now part of
EssilorLuxottica SA (EL.FR), for 10 years, started his career in
hotel management, LVMH said.
According to Jefferies analysts, the executive led Luxottica
through a period of significant growth, and is popular with
investors.
Write to Cristina Roca at cristina.roca@dowjones.com;
@_cristinaroca
(END) Dow Jones Newswires
January 31, 2020 10:14 ET (15:14 GMT)
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