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Updated Friday, September 16, 2011 8:22 pm TWN, AP

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Louis Vuitton chief to be replaced by Danone yogurt executive

PARIS--An executive from yogurt company Danone will replace the longtime CEO of Louis Vuitton, whose 21-year-long tenure helped turn the historic trunk-maker into one of the world's most coveted luxury brands, Vuitton's parent company, LVMH, said in a statement Wednesday.

Jordi Constans, a 47-year-old managing director at Danone, will work side-by-side with Yves Carcelle through 2012. After learning the ropes, Constans will succeed Carcelle.

The statement paid homage to the “spectacular and widely acclaimed growth” at Vuitton under Carcelle, who was appointed CEO in 1990. Under his leadership, the label went from a storied but staid Paris house whose trademark LV monogrammed handbags were associated with bourgeois ladies of a certain age to a must-have brand, coveted by youth from Saint Louis to Shanghai.

Carcelle will become president of the Fondation Louis Vuitton, a space opening in 2013 to promote the arts. He will remain on the executive of LVMH, the statement said.

The announcement appeared likely to fuel speculation that another high-profile departure from Vuitton is forthcoming.

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