LVMH Moet Hennessy Louis Vuitton, the Paris-based luxury goods company, has named Giuseppe Brusone as Donna Karan International's new ceo. LVMH had agreed in April to buy Donna Karan (New York) for nearly $244 million.
Brusone, 57, had recently joined the LVMH Fashion Group as senior vp for acquisitions and brand development after four years as ceo of Giorgio Armani (Milan). Before that, he was a sales director at Valentino.
Brusone replaces John Idol, who served as DKI's ceo for four years. Idol was hired by Donna Karan and her husband, Stephen Weiss, in 1997, in the midst of financial woes derived from what most analysts agreed was poor financial management by the pair. Idol had been with Polo Ralph Lauren prior to taking the DKI job.
Idol will remain in the ceo position until LVMH completes its acquisition of the New York fashion company, probably in September.