LVMH Moët Hennessy Louis Vuitton has named Chris de Lapuente the chairman and chief executive officer of its Selective Retailing Division, effective in January 2021.

WWD and yahoo!life reported: "De Lapuente’s scope will now also include DFS, Starboard & Onboard and 24S, LVMH’s online fashion site. Benjamin Vuchot, the new chairman and ceo of DFS; Lisa Bauer, chairman and ceo of Starboard & Onboard, and Eric Goguey, chairman and ceo of 24S, will report to him."

De Lapuente is credited with "leading Sephora to new heights" over the past ten years. He will remain a member of LVMH’s executive committee

In other LVMH news, the company first announced it was acquiring Tiffany & Co. last November, which marked the biggest  but Tiffany filed a lawsuit against the company in September.

According to LVMH, Tiffany accused the company of not taking the necessary steps to obtain approvals from regulatory authorities in a timely way. LVMH filed a countersuit. 

As a result of the dispute, Tiffany accepted a lower price per share from $135 to $131.50. The new deal values $400 million less than the $16.2 billion originally agreed upon — making it $15.8 billion.

Bernard Arnault, President and CEO of LVMH, commented: “This balanced agreement with Tiffany’s Board allows LVMH to work on the Tiffany acquisition with confidence and resume discussions with Tiffany’s management on the integration details. We are as convinced as ever of the formidable potential of the Tiffany brand and believe that LVMH is the right home for Tiffany and its employees during this exciting next chapter.”

Alessandro Bogliolo, Tiffany CEO, said, “We continue to believe in the power and value of the Tiffany brand and the compelling long-term strategic and financial benefits of this combination.” 

The merger is expected to be finalized early next year.