LVMH heir Frederic Arnault takes the helm of the Loro Piana brand.

LVMH, a powerhouse in the luxury sector, has announced the appointment of Federic Arnault as the new CEO of the Italian cashmere brand Loro Piana. This appointment, effective June, marks a significant step in the company's ongoing management planning.

Currently leading LVMH's watch division, the 30-year-old Arnault will succeed Damien Bertrand on June 10. This strategic move was revealed in a statement from LVMH on Wednesday. As part of the management changes, Bertrand has been promoted to the role of Deputy CEO at Louis Vuitton, another prestigious brand under the LVMH umbrella. Federic's appointment reflects the extensive leadership changes happening within LVMH, as the company actively reorganizes its management structure following a major restructuring last November.