April 11 (Bloomberg) -- Michael Boroian,
president of executive seek firm Sterling International, talks about changes in
the boardrooms of luxury-goods companies. He spoke yesterday with Bloomberg
Television's Caroline Connan in Paris. “Companies are reorganizing for the next
development cycle,” said Giovanna Brambilla, a partner at Value Search Srl in
Milan. “If they’re not convinced of having the best leaders, they’re changing
generals.”
Luxury Leather companies are looking for new aptitude
and ideas as they contend with a slowing wealth in China and a cut in high-end
spending by Europeans. A rising dependence on emerging markets and the Internet
are stoking demand for executives with broader skills, according to Michael
Boroian, president of recruiter genuine worldwide in Paris. He anticipates more
changes this year.
LVMH Moet Hennessy Louis Vuitton SA (MC), the
world’s largest luxury-goods creator, hired Sebastian Suhl as CEO of its
Givenchy fashion and leather goods brand in March. He is credited with powerful
competitor Prada Group’s growth in the Asia Pacific region in his six and a
half years with the Milan-based company, latterly as chief operating officer.
Rising Stars, Suhl has “a great feel for manufactured
goods and product maturity, he knows all the global markets and he works very
well with creative talents,” Boroian said. His rendezvous “is very typical of
what you’re considering. People evolve and those rising stars that are all in
their late 30s to early 50s are now seeing their talents being parlayed.”
Sales of high-end goods might climb 10
percent in 2012, half last year’s rate, and 9 percent in 2013, according to
HSBC psychiatrist Antoine Belge. China, which accounted for 10 percent of 2011
sales, will provide a third of this year’s boost as growth slows in Europe, he
estimates.
Most activities have come from within the manufacturing
and some from within the same company. Mulberry, the Somerset, England-based
maker of 595-pound ($944) Cookie Lily leather handbags, poached Bruno Guillon
from Hermes International SCA (RMS) to be CEO, while LVMH shuffled at least
four executives, counting moving Michael Burke from Fendi to head up Bulgari,
which it bought for about 3.7 billion euros ($4.8 billion) last year.
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equipped with a 5-megapixel camera on the backside, along with a 2-megapixel
front-facing shooter for suitable photography, video capture and chat. The
tablets also include stereo speakers with fashionable sound enhancements by
Toshiba and SRS Labs, as well as Wi-Fi and Bluetooth connectivity.
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