The annoucement today that Michael Burke, one of LVMH’s longest-serving executives, would become chief executive of Louis Vuitton, LVMH’s biggest brand, was an interesting one. Not because it reflects any Machiavellian planning on the part of the Group — Mr Burke’s predessecor, Jordi Constans, who had joined Vuitton from Danone, was forced to step down for health reasons — but because it’s a very safe decision on the part of LVMH.

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