The luxury-goods industry is thirsting for fresh blood at the top as high-end retailers and manufacturers shake up their executive ranks.
At least 14 new presidents, chief executive officers, chief financial officers and creative directors started at European luxury companies in the first quarter of 2012, according to Bloomberg.
Those companies include the British leather goods manufacturer Mulberry and the French holding company PPR, which hired French broadcaster M6 Group's Jean-Marc Duplaix as its CFO in January and plans to open 110 stores this year, half of them in Asia.
The world's largest luxury-goods seller, LVMH Moet Hennessy Louis Vuitton, hired Sebastian Suhl, chief operating officer of the Prada Group, as CEO of its Givenchy fashion and leather goods brand in March.
Luxe groups are capitalizing on their expansion in 2011 as emerging markets drove spending on everything from handbags to fine liquors, The Wall Street Journal reported in February.
Sales of high-end goods could climb 10% in 2012 and an additional 9% in 2013, Antoine Belge, an HSBC analyst, told Bloomberg. A job in the business can be just as lucrative as one on Wall Street, but you must start your career early.
Sales Buzz
More Executive Turnover (FINS)
Chief executive turnover in media, retail and food picked up in March, according to the Chicago-based outplacement firm Challenger, Gray & Christmas.
Penney's CFO Out (WSJ via FINS)
J.C. Penney's chief financial officer Michael Dastugue is the latest executive to depart as the chain undergoes a major overhaul. Penney's chief operating officer, Michael Kramer, will temporarily replace Dastugue, who spent 15 months in his post, while the company searches for a permanent replacement.
Don't Burn Bridges (FINS)
Work hard after giving two weeks notice to an employer. Last impressions weigh heavily in establishing your reputation in the long term.
Goldilocks Pricing (Sales Machine)
If you want to boost sales, give your customers a strong guarantee and a range of pricing choices, says Sales Machine.
Marketing Buzz
Condé Nast Move (Adweek)
Maurie Perl, Condé Nast's longtime spokeswoman and senior vice president of brand communications, has been named senior vice president of media and communications at Condé Nast Entertainment Group.
Moorhead's New Marketing Gig (Ad Age)
James Moorhead, a Procter & Gamble veteran who oversaw Old Spice during its "The Man Your Man Could Smell Like" brand campaign, is joining the Meridian, Colo.-based satellite broadcaster Dish Network as its chief marketing officer.
Sears' Social Media Doctor (Forbes)
Mark Bonchek, Sears Holding's senior vice president of communities and networks, says social media is a lot more than Likes on Facebook. He should know. He holds a social media Ph.D. from Harvard.
Kraft's Social Media Handlers (Adweek)
Who says old people are out of touch with the digital landscape? Meet Kraft's temporary Twitter and Facebook handlers: Frankie, 87, and Dottie, 86 -- two "Old Birds" Crispin Porter + Bogusky hired for the job.
Denham's Role Expansion (Marketing Week)
Andrew Denham, Panasonic's U.K. marketing chief, is taking over the company's brand strategy for all of Europe.
Buzz Around the Office
Making warm beer cold again.
List of the Day: Revamped Networking
Don't limit yourself to wine and cheese events that are boring even to the organizer.
1. Pick a fun Groupon and meet people who also chose that activity.
2. Find out which bar people in your industry tend to gravitate to. Go hang out there.
3. Wherever you are, work up the courage to talk to someone.
(Source: Forbes)
