Tory Burch has appointed former LVMH Fashion Group chief executive Pierre-Yves Roussel as its new boss, taking the reigns from its eponymous leader.
American fashion designer Tory Burch, who founded her fashion label and retail chain in 2004, will step down as chief executive to take on the dual role of executive chairman and chief creative officer.
Roussel will take her place at the helm in early 2019 of the luxury fashion brand, following a 12-year stint as chairman and chief executive of the LVMH’s fashion arm.
In partnership with Burch, he will be tasked with implementing the company’s new 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,” Burch said.
“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.”
Roussel, who is credited with leading the repositioning and global development of LVMH’s numerous fashion brands, added: “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.”
Tory Burch currently trades from 250 stores across the globe, as well as being sold by over 3000 third-party retailers.