MC Lvmh Moet Hennessy Louis Vuitton SE

   By Cristina Roca 
 

LVMH Moet Hennessy Louis Vuitton SE (MC.FR) has picked ex-Luxottica executive Andrea Guerra to head its new hotel division, it said Friday.

The French luxury-goods giant named Mr. Guerra chief executive of the newly-created hospitality excellence division, and said he will also become a member of its executive committee. The appointment is effective March 16, LVMH said.

The appointment confirms media reports identifying Mr. Guerra as LVMH's pick for the new division earlier this week.

"A hire of this calibre would only confirm our view that LVMH is leading the pack in developing a very broad portfolio of many different ways to satisfy demand for luxury products and services," Jefferies analysts said, commenting on those reports. According to the bank, the appointment confirms the French group's increasing focus on the "experiential" aspect of luxury.

LVMH, which owns the Louis Vuitton and Dior brands as well as Hennessy cognac among others, created the division after buying luxury hotel company Belmond last year. The unit will encompass Belmond and Hotels Cheval Blanc.

Mr. Guerra, who was chief executive of Luxottica, now part of EssilorLuxottica SA (EL.FR), for 10 years, started his career in hotel management, LVMH said.

According to Jefferies analysts, the executive led Luxottica through a period of significant growth, and is popular with investors.

Write to Cristina Roca at cristina.roca@dowjones.com; @_cristinaroca

(END) Dow Jones Newswires

January 31, 2020 10:14 ET (15:14 GMT)

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