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LVMH Appoints Jeffry Aronsson CEO of Donna Karan

Business Editors PARIS--(BUSINESS WIRE)--Nov. 18, 2003 LVMH Moet 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 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 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.

About LVMH

LVMH Moet Hennessy Louis Vuitton is the world's leading luxury goods group. The Group is represented in Wines and Spirits by a portfolio of brands that includes Moet & Chandon, Dom Perignon, Veuve Clicquot Ponsardin, Krug, Chateau d'Yquem, Chandon and Hennessy. Its Fashion and Leather Goods division includes Louis Vuitton, the world's leading luxury brand, as well as Celine, Loewe, Kenzo, Givenchy, Christian Lacroix, Thomas Pink, Fendi, Pucci, Donna Karan, Marc Jacobs, Berluti as well as Eluxury, the authoritative online source for luxury goods on the Internet. LVMH is present in the Perfumes and Cosmetics sector with Parfums Christian Dior, Guerlain, Parfums Givenchy, Parfums Kenzo, Parfums Loewe, as well as other promising cosmetic companies (Bliss, BeneFit Cosmetics, Make Up For Ever, Acqua di Parma and Fresh). LVMH is also active in selective retailing through DFS, Sephora, Le Bon Marche and La Samaritaine. LVMH's Watches and Jewelry division comprises TAG Heuer, Ebel, Chaumet, Christian Dior Watches, Zenith, Fred, the prestigious Italian writing instruments company of Omas and De Beers LV, a joint venture with the world's leading diamond group. LVMH shares (LVMH.PA) are listed on Euronext Paris.

CONTACT: (Analysts and investors) LVMH Chris Hollis, + 33 1 44 13 21 22 or (Media) France: DGM Michel Calzaroni/Olivier Labesse + 33 1 40 70 11 89

or UK: M: Communications Hugh Morrison, + 44 207 153 15 34

or Italy: (Business press) D & C Financial Communications Fabio Raineri, + 39 02 438 11 41 or (Fashion and Beauty press) Wilma Sarchi, +39 02 805 18 26

or US: Kekst & Company James Fingeroth/Molly Morse +1 212 521 48 00

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