LVMH NAMES LETZELTER SELECTIVE UNIT PRESIDENT

NEW YORK — Pierre Letzelter has been named president of the Selective Distribution division of LVMH Moet Hennessy Louis Vuitton, succeeding Myron Ullman, who in July became group managing director of the Paris-based luxury conglomerate.
Letzelter reports to Ullman.
The Selective Distribution division includes DFS, which operates 150 duty-free and general merchandise stores in Asia, the Pacific Rim and the west coast of North America. LVMH also operates Sephora, the fast-growing cosmetics and fragrance chain in Europe and the U.S.
Sephora’s objective is to have 300 stores in operation by yearend, including 70 new stores in Europe and 36 new units in the U.S. A flagship site in Rockefeller Center here is scheduled to open in October. The group also operates Le Bon Marche department store in Paris.
A member of the LVMH executive committee, Letzelter, who is 61, joined LVMH in 1994 as chairman and ceo of Moet & Chandon.
In 1996, he was appointed president of Moet Hennessy and president of the wines and spirits division of LVMH.
Prior to LVMH, Letzelter was vice president of the international division of Yves Rocher and chairman and ceo of Petit Bateau.
He began his career in 1964 at L’Oreal Group, where he was a managing director and for over 15 years responsible for various subsidiaries.