The move follows the switch earlier this year to a new management structure.
Olivier Lapidus will exit as artistic director, while Fosun Group’s Joann Cheng will come on board as interim chief executive officer.
The former Printemps executive will be in charge of both fashion and fragrances in the newly created position.
Khavarani was formerly senior vice president of global celebrity and VIP at Marc Jacobs.
The new roles — in fashion buying, branding and content — are part of the retailer’s growth strategy.
The Women @ Dior event in Paris pairs 100 female employees of the brand with 100 students from the world’s top schools.