Among its five main business divisions, fashion and leather goods — the largest — saw revenue fall 8%. Selective retailing was flat year on year. Watches and jewelry declined 1% in reported terms but rose 3% organically, while perfumes and cosmetics, and wines and spirits, fell 3% and 9%, respectively.
Bonnet-Masimbert joined LVMH in 1996 and began his career in the luxury sector within the group. In 2018, he moved to Rimowa, where he held senior management roles and led a repositioning of the brand's distribution network, a revamp of its commercial model and the build-out of its e-commerce channels.
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