LVMH creates new fashion post

LVMH has created a new position within the group to focus on its fashion brands, particularly the smaller ones with growth potential. The luxury giant has appointed Pierre-Yves Roussel chairman and chief executive of LVMH's fashion division. In this capacity, Roussel will be responsible for the fashion brands Celine, Givenchy, Kenzo, Marc Jacobs, Loewe, Pucci, Berluti, Rossi Moda and sourcing firm Kami and Interlux.

A former executive vice president of strategy and operations for the group, the 41 year old has been instrumental in tweaking a number of the fashion houses and contributing to their drive toward profitability. The brands's chief executives will report to him, while he in turn will continue to report to the group chairman Bernard Arnault. He is also a member of the group's executive committee. Roussel is a graduate of Wharton business school and an alumnus of McKinsey & Co, the consulting firm for which he worked in Paris, New York and Hong Kong before joining LVMH.