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Christian Dior chief Toledano to step down
[PARIS]Christian Dior's chief executive Sidney Toledano is stepping down after nearly two decades at the helm of the French luxury goods house, its parent company LVMH said Wednesday.
Toledano, who is 66, oversaw the expansion of the Christian Dior brand, especially in men's fashion thanks to the collections of star designer Hedi Slimane between 2000 and 2007.
He also took the decision to kick out John Galliano from the LVMH group in 2011 after the British designer disgraced himself with an anti-Semitic outburst in a Paris cafe.
He will be replaced by Pietro Beccari, the managing director of Fendi, another company in the LVMH empire. The leadership changes are to take effect early next year.
"Sidney Toledano is the driving force behind the huge success of Christian Dior Couture across the world," LVMH chief Bernard Arnault said in a statement, adding that Beccari's appointment would signal "a new era".
He notably credited the 50-year old Beccari with "expertly harnessing the creativity of Karl Lagerfeld and Silvia Venturini Fendi".
Founded around 70 years ago, Christian Dior employs some 5,000 staff worldwide and sells its products almost exclusively in a dedicated network of 198 stores.
It has doubled its sales over the past five years.
Christian Dior's chief designer is Italian Maria Grazia Chiuri, who took up the job last year.