LVMH’S ELUXURY.COM NAMES LORENZO CEO
Byline: Jennifer Weil
PARIS — Alain Lorenzo has been named president and chief executive officer of eluxury.com, the LVMH Moet Hennessy Louis Vuitton Web site that is due to be launched this spring.
Lorenzo, who is currently president and ceo of LVMH’s Parfums Givenchy, succeeds Fred Wilson, who held the position on an interim basis. Wilson will continue as ceo and president of LVMH Specialty Retail Concepts, which includes watch retailer Synchrony and the Solstice eyewear chain.
No successor has been named for Lorenzo at Givenchy, where he has been for the past eight years, formerly as chief operating officer and deputy general manager of marketing and sales.
“During his tenure at Parfums Givenchy, annual net sales increased over 2 1/2 times to $310 million,” according to an LVMH statement.
Lorenzo also had a 12-year tenure at Procter & Gamble, where he worked in brand marketing and general management in France, Germany and Great Britain.
In the statement, LVMH group managing director Myron Ullman said: “Alain brings over 20 years of experience and a strong background in luxury goods and services.
We are pleased to welcome him to the leadership role at Eluxury. As the site prepares for its forthcoming public launch, we are confident that Alain will have a strong and positive impact on the site’s rollout and the growth of the eluxury company.”
Eluxury.com plans to offer a broad array of goods and services aimed at consumers living in the 25 percent of U.S. households with the highest annual incomes.
Eluxury is based in San Francisco; its ownership includes its own management, LVMH and Europ@web, the Internet investing and operating company controlled by LVMH chairman Bernard Arnault.
Arnault is one of Europe’s most aggressive internauts. He invests in the Internet directly via his holding company Groupe Arnault, and the areas of investment vary widely.
For instance, he has taken a minority stake in Cyro Networks, a maker of Web-site-development software and developer of online virtual game communities. Groupe Arnault also joined forces with French utility giant Suez Lyonnaise des Eaux in a consortium that is bidding to install and operate wireless local loop networks.
Arnault’s other recent Internet initiatives through LVMH include going public this year with the upscale beauty site Sephora.com and Europ@web (see related story on page 14).