LVMH chairman and CEO Bernard Arnault has reshuffled top management at his luxury goods empire, tightening his family’s grip with the appointment of his daughter Delphine to lead Christian Dior and naming a new boss for Louis Vuitton.

Pietro Beccari, who has been the head of Dior since 2018, is moving to replace long-time Louis Vuitton CEO Michael Burke. Antoine Arnault, Bernard Arnault's eldest son, was recently appointed to head the family holding company, replacing veteran executive Sidney Toledano.

Delphine and Antoine, 45, are children from their father's first marriage. Alexandre Arnault, 30, is an executive at Tiffany, while Frederic Arnault, 28, is CEO of another group brand, TAG Heuer. The youngest child, Jean Arnault, 24, heads marketing and product development for Louis Vuitton's watches division.

As part of the management changes, the company is also folding Tiffany into the watches and jewellery division, under management of Stephane Bianchi. Shares in LVMH, Europe's most valuable company, rose as much as two per cent to hit new highs.

Delphine Arnault, 47, has worked at Louis Vuitton for the past decade alongside Burke and previously spent a dozen years at Dior.Burke, who is Bernard Arnault's longest-serving lieutenant and has also been chairman of the jewelry arm Tiffany, will continue to work.