LVMH appoints Michael Burke to lead Americas operations amid trade tension
Burke will oversee all operations in the Americas, encompassing both North America and Latin America.
USA – LVMH has appointed Michael Burke as chairman and CEO of its Americas division, a strategic move aimed at strengthening the brand’s presence across North and South America amid a challenging geopolitical and trade environment.
Burke will report directly to LVMH’s managing director, Stéphane Bianchi.
Burke will oversee all operations in the Americas, encompassing both North America and Latin America.
According to the brand, Burke’s leadership role is designed to navigate the complexities posed by tariffs and evolving trade tensions, while reinforcing LVMH’s commitment to expanding its footprint in the region.
Burke, a seasoned executive with a long history at LVMH, is one of CEO Bernard Arnault’s most trusted advisers.
His career with the group spans over four decades, including pivotal roles such as CEO of Louis Vuitton and chairman and CEO of the LVMH Fashion Group.
In addition to his operational role, Burke has been named non-executive chairman of Tiffany & Co.’s board.
Q1 FY25 financial highlights
Recently, LVMH reported €20.3 billion (USD 23.03 billion) in revenue for the first quarter of FY25, reflecting a 3% organic decline compared to the same period in 2024.
The Perfumes & Cosmetics business group remained stable at €2.18 billion(USD 2.48 billion), fueled by strong demand for Christian Dior fragrances and makeup innovations and solid performances by Guerlain, Parfums Givenchy, and Maison Francis Kurkdjian.
The Wines & Spirits division saw a 9% drop to €1.31 billion(USD 1.49 billion), impacted by softer demand in China and the U.S.
Watches & Jewellery held steady with €2.48 billion(USD 2.82 billion) in revenue, while Selective Retailing, including Sephora, recorded €4.19 billion(USD 4.76 billion), a modest 1% decline.
Geographically, Europe continued to register growth on a like-for-like basis, taking into account consistent consolidation scope and currency impacts.
In contrast, the United States experienced a slight dip overall, although categories such as Fashion and leather Goods and Watches and jewellery performed well.
Japan reported a decline compared to the first quarter of 2024, a period previously buoyed by a surge in spending from Chinese tourists.
Elsewhere in Asia, market dynamics remained broadly in line with those observed in 2024.
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