LVMH creates joint leadership for La Samaritaine and Le Bon Marché

LVMH has introduced a shared governance structure for La Samaritaine and Le Bon Marché, aiming to strengthen both businesses in an increasingly dynamic retail landscape.

“Effective immediately, a single leadership team is being established under the continued presidency of Patrice Wagner, who will now oversee both Le Bon Marché and La Samaritaine,” the group stated, emphasizing its intention to give La Samaritaine fresh momentum.

Wagner has led Le Bon Marché since 2010 and assumed additional responsibility for the luxury luggage brand Rimowa in 2021. He previously held senior roles at Galeries Lafayette Berlin and KaDeWe in Germany.

The company confirmed that Catherine Newey, who became managing director of La Samaritaine in 2023, will retain her position while also serving as deputy managing director of the Le Bon Marché Group. Newey is well-acquainted with Le Bon Marché, having served there from 2017 to 2024 as commercial director and later store director, where she led brand positioning, customer experience, and retail performance.

“A new organizational structure will be rolled out gradually,” LVMH added, “focusing on securing consistent, long-term growth at La Samaritaine while preserving the distinct identity of each house within the group.”

The company said the unified leadership approach “builds on the individual strengths and distinct characters of these two iconic maisons, which can now evolve together: La Samaritaine, with its historic location at the heart of Paris, and Le Bon Marché, celebrated for its Parisian identity, creativity, and customer experience.”

During its full-year earnings presentation in January, LVMH confirmed that La Samaritaine had been removed from the Duty-Free Shops (DFS) network. It noted that DFS remained “below its pre-COVID 2019 levels,” particularly affected by currency exchange fluctuations.

“La Samaritaine’s operations were primarily focused on Chinese tourists, and we are shifting it out of DFS to broaden its appeal,” explained Jean-Jacques Guiony, chief financial officer of LVMH.

The Parisian department store reopened in 2021 following a 16-year closure and a €750 million renovation. However, the absence of Chinese tourism has made rebuilding its customer base challenging.

With AFP