LVMH Moët Hennessy Louis Vuitton, the world’s leading luxury products group, today announced that it has appointed Jeffry Aronsson as Chief Executive Officer of Donna Karan International.
Until now, Mr Aronsson has been CEO of Marc Jacobs International, L.L.C., one of LVMH’s fastest growing brands. Prior to that, he had been President and CEO of Oscar de la Renta since 1994, and oversaw the international expansion of the brand. He joined Oscar de la Renta in 1987, having previously co-founded the law firm of Aronsson & Kerker in 1985. At Donna Karan, Mr Aronsson succeeds Fred Wilson, who will become CEO of Saks Fifth Avenue. Mr Aronsson’s appointment is effective immediately. Mr Wilson will work closely with Mr Wilson over the next few weeks to assure a smooth transition.
"I am delighted to join Donna Karan at this exciting juncture", Mr Aronsson said. "Under Fred and his team, great strides have been made in revitalizing this quintessential American brand. I have greatly enjoyed my association with the Marc Jacobs team and look forward to working with the very talented management and creative people at Donna Karan to capitalize on the progress that has been made and position the brand for long-term success."
Ms Karan said, "Fred Wilson has made an important impact on our company, restructuring the business and successfully realigning our team. Jeff has the leadership qualities to truly make a difference and I am confident that he will take all that Fred has accomplished to the next stage, while making his own distinguished mark on our company."
"The past year at Donna Karan has been one of the most rewarding of my career," said Mr Wilson. "Donna Karan is a true creative genius and it has been a wonderful experience to work with her and the outstanding management team on the turnaround of the brand that is now firmly underway."
Bernard Arnault, Chairman and CEO of LVMH, said, "We wish Fred the best of luck in his new position. Based on Jeffry Aronsson’s track record in building luxury brands, we feel confident that he will be able to capitalize on what has been achieved at Donna Karan and take the brand to its next stage of growth."
LVMH remains committed to developing the Donna Karan and Marc Jacobs brands, both icons of American fashion, which are poised for significant growth in the years ahead.