PARIS — Changes are afoot at LVMH Moët Hennessy Louis Vuitton here.
The French luxury giant announced Wednesday that Renato Semerari, president and chief executive officer of Guerlain, will become president and ceo of Sephora Europe starting Oct. 1. In his new post, Semerari is to report to Jacques Levy, president and ceo of Sephora.
Until now, as part of his job, Levy had overseen the perfumery chain's European business.
Replacing Semerari at Guerlain on Oct. 1 will be Laurent Boillot, general manager of the beauty brand. In his new role, Boillot is to report to LVMH group managing director Toni Belloni.
"We are happy to see two talented managers take additional responsibility within the group," said Belloni in a statement. "Renato has led the remarkable renaissance of Guerlain over the last five years. His leadership and beauty expertise are a meaningful reinforcement of our capabilities to support Sephora's ambitious plans. Laurent has been his right arm over these years. He has the skills and intimate knowledge of the brand to bring Guerlain to new heights."
Prior to Guerlain, Semerari worked at Parfums Christian Dior, where he was international marketing director, starting in 1999. Before that, Semerari served as marketing director for Southern Europe for Procter & Gamble Co., beginning in 1986. Semerari received a degree in business administration from the University of Rome.
Boillot joined Guerlain in 2002 as its marketing director. Starting in 1999, he was at Unilever, where his last post was marketing director of the European hair care category. Boillot began his career in 1988 in advertising at the Havas Group. He earned his degree from Rouen Business School.
Sephora, with 671 doors worldwide as of June 30, up 16.5 percent versus the same prior-year period, is growing at a robust pace. In the first half of this year, it completed 18 openings in Europe, bringing its total store count there to 485.
Also in the first half, Guerlain continued improving its profitability while increasing its media investments, according to LVMH. The company said the brand's profit from recurring operations recorded a new and major increase. — Jennifer Weil
Art & Fragrance IPO Set
LONDON — Art & Fragrance SA is going public.The Zollikerberg, Switzerland-based fragrance and cosmetics manufacturer plans to make its debut on the Berne stock exchange on Wednesday.
The company's founder and sole shareholder, Silvio Denz, is selling up to one million of his five million shares in the company at a unit price of 20 Swiss francs to 23 Swiss francs, or $16.90 to $19.43 at current exchange. That equates to a market capitalization of between 100 million Swiss francs and 115 million Swiss francs, or $84.5 million and $97.1 million.
Art & Fragrance owns the Parfums Alain Delon, Parfums Grès and Ultrasun brands, as well as the license for Jaguar Fragrances.
"The aim of the flotation on the Berne stock exchange is to broaden our ownership structure and increase our visibility," said Denz in a statement. "We are pursuing an ambitious growth strategy, the aim of which is not only to exploit the potential of our brand portfolio more fully, but also to acquire additional brands and take on strategic holdings. As a listed company, we will create additional transparency and therefore raise confidence among existing and new partners."
In 2006, Art & Fragrance generated net profits of 11.2 million Swiss francs, or $9.5 million. Its operating revenues, which include sales and other regular income, hit 40 million Swiss francs, or $33.8 million. — Brid Costello
CEO Shift at Selective
PARIS — Selective Beauty, the fragrance manufacturer and distributor based here, has made some top-level management changes.
Christophe Cervasel, a company co-founder and chief executive officer, has been named chairman of Selective Beauty Corp., a fully owned affiliate of Selective Beauty, based in New York and started one year ago.
A new ceo based in Paris will be recruited and report to Corrado Brondi, a company co-founder and president of Selective Beauty. Until the ceo is named, Hervé Lesieur has taken the role of Selective Beauty's executive chairman. He was formerly president of Shiseido-owned Decléor and Carita, and has been a shareholder in Selective Beauty for one year.
Once a ceo is signed on, Cervasel will also become a member of Selective Beauty's advisory board.— J.W.
@chanel and @pharrell dropped what’s being dubbed as the world’s most exclusive sneakers yesterday. The Adidas Originals NMD Hu, which Williams designed in collaboration with Chanel and @adidasoriginals, has a waiting list of over 120K people who pre-registered online at chanelatcolette.fr –– and only 500 pairs are on sale. The singer predicted the resale value of the shoes could reach $40K. Read the full interview on WWD.com. Link in bio. #wwdfashion
@imanshumpert is diving deeper into his creative endeavors and relaunching his clothing line, Post 90s, and is helping to raise money for the hurricane victims in St. Maarten with a jersey he’s designed with his brother. The Cleveland Cavaliers player talked to WWD about kneeling during the national anthem, working with fashion brands and how he wants to be more than an @nba player. Read the interview on WWD.com #wwdfashion (📷: George Chinese)
Not only does #TheProfit return to CNBC tonight, but @marcuslemonis has launched @shopmarcus, a new shopping and lifestyle retail experience in Aspen and Chicago, with more locations to come. The retail stores offer in-store stylists and a variety of contemporary womenswear selections.
“It’s life, I’m going to face it,” @mingxi11 sighed. “I fell, but you know, I think the most important thing is that I get back up. I had the love, the help from my sister — the girl next to me Gizele [Oliveira] — she’s so nice. When I went backstage everybody was trying to comfort me like ‘Oh Ming, it’s OK.’ I’m really, really touched. I think it’s them who gave me the courage to go back on stage for the finale,” Xi told WWD of her fall at the @victoriassecret fashion show. (📷: David Fisher) #wwdfashion #vsfashionshow #victoriassecret
@louisvuitton tapped @therealpeterlindbergh for its latest city-centric photo book, which is part of a series called Fashion Eye. The primarily black and white book captures the spirit of Berlin in 57 images shot between 1989 and 2019. “Berlin is an inspiration for me, more than a city. I mean @millajovovich is simply Berlin!” said Lindbergh. #wwdfashion
“You know, I think audiences expect a certain performance so I have to deliver to them what they’re expecting to a certain degree. But I’m also a different actor and a different person, I have my own spin on the character,” says @noahegalvin of his takeover of the leading role in “Dear Evan Hansen” following the departure of @bensplatt, who originated the role. Read WWD’s interview with the 23-year-old actor on WWD.com #wwdeye (📷: @jilliansollazzo)
For pre-fall 2018, @etro created richly-colored wonderland, using tapestries, textiles and wallpapers from the Eastern world at large. The line featured floral and graphic prints and jacquard motifs, like this two-piece look featured here. #wwdfashion (📷: Giovanna Pavesi)
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)