LVMH strengthens management team at Donna Karan

LVMH, the world leader in luxury products, today announced that it has strengthened the management team of its celebrated American brand, Donna Karan. Having successfully reorganised and repositioned the company, Pino Brusone is setting up an operational management team. Fred Wilson, previously president and CEO of the LVMH Fashion Group, America’s, has been appointed CEO and will be responsible for accelerating the company’s development, strengthening activities in its domestic US market, particularly with the launch of an accessories line. Mr. Wilson moves to the position of CEO of Donna Karan International from his role as President and CEO of the LVMH Fashion Group, America’s. Prior to that, Mr. Wilson served as CEO of LVMH Specialty Store Retailing and had held various positions in DFS Group Limited, including President and Chief Merchandising Officer. Mr. Wilson began his career with Federated Department Stores in 1969 through 1976. From 1976 to 1979 he was with Associated Dry Goods as Vice President and General Merchandise Manager of Stix, Baer & Fuller. Pino Brusone will remain Chairman of the Board of Directors of Donna Karan International – from this position the American brand will continue to benefit from his experience and talent. Donna Karan said: “I have not only greatly enjoyed a personal relationship with Pino Brusone but also his professional commitment and respect for the brand and its products. I look forward to his continuing guidance as Chairman of the Board. It is with great pleasure that I welcome Fred Wilson to Donna Karan. I have witnessed and respected his work as President of the LVMH Fashion Group America’s, and the relationship he has built with people in addition to his excellent reputation. I am very excited to collaborate with him to realize the company’s vision.” Pino Brusone said: “It was for me a great pleasure to work with Donna Karan company to develop a new strategy for the business. The LVMH Group has been extremely supportive to allow me to reposition the company and put in place the new management team as the major objective of my mission.” The New York fashion show of Donna Karan was a great success, meeting with a very favourable reception from both the American and international press – recognition of the brand’s prestige. The LVMH Group confirms that Donna Karan will be profitable in 2002, despite the difficult economic environment, which has impacted numerous luxury brands.