Fendi: a new CEO at the helm of the Italian House

There is news at Fendi. While false rumors circulated about a potential change in the creative director, the iconic Italian brand under the LVMH empire announced on Monday the appointment of its new CEO. Pierre-Emmanuel Angeloglou will succeed Serge Brunschwig, who has been in charge since February 2018. Brunschwig will remain within the LVMH group, although the group has not yet disclosed the new responsibilities that will be assigned to him. In a statement, Bernard Arnault, Chairman and CEO of the group, expressed his gratitude, saying, "I would like to thank Serge for his significant contribution to Fendi's growth since 2018."

Angeloglou will also retain his position as Managing Director of LVMH Fashion Group and will have direct control over the brands within his division, including Fendi, Kenzo, Marc Jacobs, Pucci, Stella McCartney, Patou, and Off-White. With this appointment, the giant LVMH continues its process of restructuring its managerial structure.

Angeloglou previously held the position of Global President of L'Oréal Paris. In 2019, he joined LVMH as Director of Strategic Missions for Fashion and Leather Goods for the Louis Vuitton house. The following year, he was appointed head of the men's division, later becoming Executive Vice President and one of the key figures behind the success of the brand's men's collections.

Fendi is preparing to celebrate its 100th anniversary next year. Among the first events to mark this significant milestone in the house's history is the launch of a new collection of exclusive fragrances. The brand is increasingly looking to expand into new lifestyle offerings.

LVMH, which acquired a majority stake in the house in 2001, ended the first quarter of 2024 with a 3% increase compared to the previous financial period, posting a record revenue of 20.7 billion euros. Although the group does not regularly disclose sales figures for each brand, following the publication of the results in January, Bernard Arnault specified that "Fendi continued its momentum," thus confirming the positive trend of its sales. Jean Jacques Guiony, CFO of LVMH, had also identified Fendi as one of the group's "growth drivers," especially in the leather goods division.