Tory Burch, the American fashion brand, said on Tuesday that Pierre-Yves Roussel will become its CEO, starting early in the new year.
Roussel, a long-time LVMH executive, who will be based at Tory Burch’s New York headquarters, will join and report to the company’s board of directors.
In partnership with Tory Burch, the American designer and current CEO of her eponymous brand, Roussel will lead and implement the company’s global strategy with a focus on operations.
“There are very few leaders in the industry who have both a commercial track record and a deep admiration for the creative process,” said Burch, who will assume the role of executive chairman and chief creative officer.
“I respect what he has built at LVMH and value the way he thinks about business, luxury and the fashion industry as a whole.
“He also shares my belief in the importance of a culture-led company.
“We have a strong management team in place and Pierre-Yves is a natural fit as we continue to focus on long-term growth and global expansion.”
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Roussel said: “I’m very excited to have the opportunity to join such an iconic lifestyle brand with a unique and authentic identity.
“Under Tory’s leadership, the company has had unprecedented success and is well positioned for long-term growth globally.
“From day one, investing in creativity and innovation has always been a strategic priority for the company.
“I look forward to working with Tory and her team to build on these investments and execute the business strategy.”
Roussel was chairman and CEO of the LVMH Fashion Group for the past 15 years and a member of the LVMH executive committee.
During his time at LVMH, he successfully led the repositioning and global development of the fashion brands portfolio of the group including, among others, Celine, Givenchy, Loewe and Pucci.
Roussel started his career as a financial analyst at HSBC and Morgan Stanley followed by 14 years with McKinsey & Company as a senior partner in charge of the luxury, retail and consumer goods practice.
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Byron Trott, founder, chairman and CEO of BDT & Company, and a member of the board of directors for Tory Burch, said: “Tory Burch is a visionary leader who remains true to her mission, listens to her customers and has a strong sense of where she wants to take the brand.
“BDT & Company remains committed and confident in the continued global growth of this iconic lifestyle brand.
Pierre-Yves Roussel will be an outstanding addition to an already strong and talented management team.”
About Tory Burch
Tory Burch is an American lifestyle brand that inspires people around the world to live in full colour with character, beauty and confidence.
Launched in February 2004, the collection embodies the personal style and sensibility of Tory Burch. It includes ready-to-wear, shoes, handbags, accessories, watches, and home and fragrance products. There are more than 250 Tory Burch boutiques across North America, Europe, the Middle East, Latin America, Asia and Australia, and the collection is available at more than 3,000 department and speciality stores worldwide, as well as on toryburch.com.
The brand’s dedication to helping women fearlessly follow their dreams is reflected in the work of the Tory Burch Foundation, which advances women’s empowerment and entrepreneurship in the US.