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How Badly Does LVMH Want Alessandro?

If LVMH can find the right job for Alessandro Michele, it makes a lot more sense to keep him close than to allow a smaller player to scoop him up.
If LVMH can find the right job for Alessandro Michele, it makes a lot more sense to keep him close than to allow a smaller player to scoop him up. Photo: Victor Boyko/Getty Images
Lauren Sherman
July 6, 2023

Was that picture of Dakota Johnson wearing a Chanel bag in his Instagram Story supposed to be some sort of Easter egg? Did Bidayat, the investment firm backed by the C.E.O. of Qatari-funded luxury group Mayhoola, really buy dormant Italian label Walter Albini just for him? Is he next in line at Louis Vuitton? The rumors swirling around Alessandro Michele’s next move abound, but the only thing I know for sure is that the former Gucci designer, who spent 20 years at the Kering-owned leather goods house, seven as its star, recently met with LVMH heir and current Dior C.E.O. Delphine Arnault. (A spokesperson for the conglomerate didn’t respond to my request for comment.)