LVMH shakes up Donna Karan management team

Luxury goods group LVMH Moet Hennessy Louis Vuitton SA has shaken up its management team at Donna Karan International, which it acquired late last year, the Associated Press reports.

The company also said Donna Karan will be profitable in 2002, despite the economic environment that has hurt a number of luxury brands.

Fred Wilson, who had been president and chief executive of LVMH’s U.S. fashion division, has been named chief executive of Donna Karan, replacing Giuseppe Brusone, who had been in the post since July 2001, the AP reports. Brusone will remain chairman of the board of directors of Donna Karan, and set up an operational management team.

LVMH said Wilson will be responsible for accelerating the company’s development and strengthening activities in its U.S. market, particularly with the launch of an accessories line.

Prior to serving as president and CEO of LVMH’s U.S. division, Wilson served as CEO of LVMH specialty store retailing and had held various positions in DFS Group Limited, including president and chief merchandising officer.

Wilson began his career with Federated Department Stores in 1969. From 1976 to 1979, he was with Associated Dry Goods as vice president and general merchandise manager of Stix, Baer & Fuller.