PARIS — Francesco Trapani will relinquish his operational role as president of LVMH Moët Hennessy Louis Vuitton’s watches and jewelry division, effective March 1.
It is understood that Trapani, great-grandson of Bulgari founder Sotirio Bulgari, wishes to take less of a driving role at LVMH, which he joined in 2011 after it acquired Bulgari, where he was chief executive officer at the time.
Trapani will become an adviser to group chairman Bernard Arnault on jewelry and will remain on LVMH’s board.
“Over the past three years, Francesco has successfully completed the integration of this prestigious brand within our group,” Arnault said. “I am delighted that I will continue to be able to draw on his wisdom and advice in the years ahead.”
LVMH acquired Bulgari in 2011 in a cash-and-share swap valued at more than $6 billion, which also put Trapani in charge of the larger company’s watch and jewelry activities.
The deal gave Trapani and members of his family control of 3.6 percent of LVMH’s share capital. The family has since sold off a large proportion of those shares and currently maintains a stake of between 1 and 1.5 percent, according to an LVMH spokesman.
In 2013, Trapani sold off LVMH shares worth nearly 13 million euros, or $17 million. This followed accusations of fraudulent earnings in Italy made against three Bulgari family members, including Trapani, by tax authorities, who seized assets belonging to the family worth 46 million euros, or $60 million.
LVMH’s jewelry brands — Bulgari, Chaumet, Fred and De Beers — will now report directly to group managing director Antonio Belloni.
Jean-Claude Biver, currently president of Hublot, is to take over coordination of the firm’s other watch brands, Tag Heuer and Zenith, with those brands’ ceo’s reporting to him and Belloni, the spokesman explained.
Arnault said Biver’s “experience and achievement within this sector speak for themselves, best illustrated by the remarkable success of Hublot. I am convinced that his entrepreneurial talent and creativity will add significant momentum to our other brands in the sector.”
Biver took a step back from day-to-day operations at Hublot in 2012, handing over the role of ceo and the operational reins to Ricardo Guadalupe, his former second in command.
@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 (📷: Dominique Maître)
@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)