Nike Eyes Innovation with LVMH Board Pick
The appointment adds luxury and digital brand expertise as Nike works to revive sales after a 2% revenue decline in fiscal 2026.
- On Wednesday, Nike Inc. appointed Alexandre Arnault, deputy CEO of Moët Hennessy, to its board of directors, strengthening leadership as the sportswear giant navigates significant challenges.
- The appointment arrives as Nike struggles with its 'Win Now' turnaround plan introduced by CEO Elliott Hill in September 2024, with fiscal 2026 revenues falling 2% to $46.4 billion.
- Arnault, son of Bernard Arnault, brings four years leading Rimowa and four years as executive vice president at Tiffany, making him Nike's first board member from the luxury sector.
- Nike faces delisting from the S&P 100 on September 21 for the first time in 18 years, following an about 80% stock decline, intensifying pressure on the turnaround effort.
- Hill emphasized executives are building for the next decade rather than managing quarter-to-quarter, with first-quarter fiscal 2027 earnings due October 1 as Nike seeks long-term consumer reconnection.
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18 Articles
LVMH's Arnault joins Nike board as sportswear giant set to lose S&P 100 spot
The son of LVMH billionaire Bernard Arnault has been appointed to Nike’s board of directors a week after it was announced the sportswear giant will lose its S&P 100 spot. Alexandre Arnault, currently deputy chief executive of LVMH’s wines and spirits division, will hope to help the US apparel firm stem a trend of share [...]
Nike, which has been suffering from poor performance, has appointed LVMH's Alexandre Arnault as a director. Attention is focused on whether his experience in leading the growth of Rimowa and Tiffany will contribute to Nike's brand recovery and the strengthening of its market competitiveness. Nike has recently seen its profitability plummet due to the failure of its direct sales strategy and intensifying competition.
Nike Adds LVMH Exec Alexandre Arnault to Board, Saying He’s ‘Earned a Reputation for Helping Iconic Global Brands’
Nike has appointed Alexandre Arnault to the company’s board of directors. He currently serves as the deputy chief executive officer of Moet Hennessy.
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