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. 
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