Finance

LVMH appoints Luxottica executive as Loro Piana CEO

The logo of French luxury group LVMH is seen at the company headquarters in Paris, France, France, February 23, 2016. REUTERS/Jacky NaegelenThomson ReutersThe logo of French luxury group LVMH is seen at the company headquarters in Paris

MILAN (Reuters) – French luxury goods group LVMH has appointed Fabio d’Angelantonio as the next chief executive of high-end textile and clothing company Loro Piana, it said on Monday.

D’Angelantonio, a former marketing director at eyewear company Luxottica , will start on Sept. 1. He takes over from Matthieu Brisset, who has finished the integration of Loro Piana less than three years after LVMH acquired a majority stake in the former family business.

“He (d’Angelantonio) has a great track record in developing brands … He also brings a warm personality and Italian touch to continue the development of Loro Piana,” Chairman Antoine Arnault said in a company statement.

That D’Angelantonio is Italian played a significant role in the decision, said a source close to the matter.

Brisset will be given a new position within LVMH, the statement added.

(Reporting by Giulia Segreti; Editing by David Goodman)

Read the original article on Reuters. Copyright 2016. Follow Reuters on Twitter.

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