Micheal Burke has been appointed Chairman and CEO of LVMH Americas, according to new reports.
A veteran of the luxury giant, Burke was previously Chairman and CEO of LVMH Fashion Group, which includes brands such as Celine, Loewe, Givenchy and Marc Jacobs.
In his 40 years working with the group, he has held a number of roles including CEO of Louis Vuitton, Chairman and CEO of Fendi, and CEO of Bulgari.
He is also a member of LVMH’s Executive Committee.
In the newly created role, Burke will be “representing and promoting the best interests of the group in North and South America, in a complex and evolving geopolitical period,” WWD reported, citing an internal announcement.
Burke has also been named non-executive chairman of Tiffany & Co.’s Board of Directors.
Bernard Arnault, LVMH Chairman and CEO, said in the announcement, according to WWD: “Throughout our close and fruitful collaboration, Michael has perfectly incarnated the values of our group.
“His outstanding leadership helped to continuously elevate the desirability and craft of the whole industry to new heights.
“I am convinced his long-term vision, and unique entrepreneurial spirit will be invaluable assets to the group at this strategic time in the Americas.”
Cosmetics Business has contacted LVMH for comment.
The appointment comes at a tough time for luxury businesses which are facing a slowdown.
According to Bain & Co, sales of luxury goods worldwide are forecasted to fall between 2% and 5% this year.
The consultancy said that the luxury market is facing its toughest time in 15 years “amid mounting economic turbulence, alongside complex social and cultural shifts,” in a recent report with Altagamma, the Italian luxury goods industry association.
LVMH reported a lacklustre first quarter of trading in 2025.
A downturn in beauty product sales in the US and lingering challenges in China resulted in sales declining 3% to €20.3bn in Q1, causing shares to fall 5.2% in early trading on 15 April.
First half financial results are due to be reported on 24 July.