LONDON — The luxury business has taken a beating in recent years, and nowhere more so than in the U.K., where there are no longer any tax-free shopping breaks for foreign tourists and where businesses have recently been hit by higher taxes under the Labour government.
In response to those, and myriad other challenges, British businesses from Victoria Beckham to Dunhill have tapped proven luxury retail talents to fill the C-suite.
Their hope is that seasoned professionals with solid backgrounds in retail, commerce and product will steer them through challenging times and find new, international opportunities, especially in the U.S., where demand for fashion and luxury remains robust.
Here are four new CEOs who are rising to the challenge.
Sybille Darricarrère Lunel, formerly of Dior and Galeries Lafayette, took up her role in July, succeeding acting CEO Ralph Toledano, who remains chairman of the company.
When the announcement was made earlier this year, founder and creative director Victoria Beckham said she was looking forward to having a “strong, creative, smart woman with an entrepreneurial mindset and energy by my side.” She described Darricarrère Lunel as having a “knowledge and respect for product,” and believes her experience in the industry “will help us go to the next level.”
Before joining Victoria Beckham, Darricarrère Lunel served as global business unit director of leather goods at Christian Dior Couture. She oversaw the global product assortment across five collections a year, working closely with creative, production, sales, retail and communications teams.
Victoria Beckham
GC Images
David Belhassen, founder and managing partner of NEO Investment Partners, which holds a substantial minority stake in Victoria Beckham’s business, believes the new CEO will unlock the “true potential” of the company.
“Sybille’s sharp understanding of product, combined with her drive, makes her our perfect partner to write the next chapter for Victoria Beckham — one of ambition, creativity and high profitable growth,” he said.
Dunhill, the tailored clothing brand owned by Richemont, has brought back alum Matthew Ives, who will take up his role on Monday.
Most recently Ives was at De Beers in London, where he spent the last three years as senior vice president, chief commercial officer. He will report to Philippe Fortunato, CEO of Richemont’s fashion and accessories maisons.
Fortunato believes “Matthew’s deep knowledge of both the luxury industry, and Richemont, will be invaluable in leading Dunhill into its next chapter.”
Ives takes up the reins at a time when Dunhill is gaining momentum and expanding its retail footprint. The company recently opened a boutique at Dubai Mall’s luxury wing, Fashion Avenue, and a corner at Harrods in London. As reported, the brand is slated to open a new location on Bond Street toward the end of 2026.
Matthew Ives
Courtesy of Richemont
Ives said he’ll be working alongside Dunhill’s creative director Simon Holloway to strengthen Dunhill’s position “as the leading British masculine luxury maison.”
A graduate of the University of Cambridge, Ives began his career as a consultant with McKinsey & Co. before spending more than 10 years at Richemont in senior leadership roles, including as a retail director at jewelers Cartier and Van Cleef & Arpels.
Although Richemont is primarily known for watches and jewelry, it has a robust portfolio of fashion and accessories brands, including Alaïa, Chloé, Delvaux, Montblanc, Gianvito Rossi, Peter Millar, Purdey and Serapian.
Executives at the group tend to have long tenures, and move easily between hard and soft luxury brands.
Tom Mendenhall has taken over as CEO of Stella McCartney at a critical time for the fashion house, which earlier this year bought back the minority stake held by LVMH Moët Hennessy Louis Vuitton, after more than five years.
Mendenhall, formerly brand president of Polo and Double RL at Ralph Lauren, spent more than 18 years working with Tom Ford and Domenico De Sole as executive vice president, chief operating officer at Tom Ford, and worldwide director of merchandising at Gucci.
He is also an entrepreneur. Last year he opened Jamestown Hudson with his partner James Scully, who will continue to manage that business.
Jamie Stoker/WWD
McCartney, who was once in business with Gucci Group, and who worked closely with Ford and De Sole in the years after launching her brand, said Mendenhall’s “extensive experience in all facets of luxury fashion will be invaluable in propelling the business forward and building a strong future. I know that Tom shares my vision for the brand and the ethical values that are part of our DNA.”
Mendenhall described Stella McCartney as “a powerful brand, led by a powerful and compassionate woman,” and said he was looking forward to partnering with her “and her incredible team around the world for the next phase of the company’s development.”
Founded in 2001, Stella McCartney has 36 directly owned stores and 11 franchise stores worldwide.
Earlier this month Monica Vinader and her cofounder and sister Gaby Vinader made way for Sebastian Picardo, whom they hope will build the demi-fine jeweler’s international profile, especially in North America.
Picardo was most recently president and CEO of Holt Renfrew, and has previously held management roles at retailers and brands including Lane Crawford, Burberry, Net-a-porter and Alexander McQueen.
Picardo said he was joining Monica Vinader at a pivotal moment. “Our ambition is to expand our impact and inspire existing and entirely new audiences across the globe. Together with Monica and the team, we will push boundaries, scale innovation and cement Monica Vinader as the brand to watch: dynamic, iconic and culturally relevant.”
Monica Vinader, who will remain in an executive role as artistic director, said she picked Picardo because he “understands both the artistry and commercial aspects” of luxury. “His bold vision for innovation and growth — combined with our shared commitment to integrity and sustainability — gives me absolute confidence that the best is still to come,” Vinader added.
Sebastian Picardo
Picardo was a busy man during his five years at Holt Renfrew. He developed a strategy to attract more consumers and brand partners, and introduced a marketplace format as well as a redesigned website.
Monica Vinader was founded in 2008, and was a pioneer in the demi-fine jewelry category. Her gold vermeil and 14-karat designs are inspired by art and nature, and the brand also offers bespoke personalization, and a repair service.
Celebrity clients include the Princess of Wales, Selena Gomez, Dakota Johnson and Gigi Hadid.
The company is also recognized for its green manufacturing and supply chain, and won the Queen’s Award for Enterprise in Sustainable Development in 2022 and was the Positive Luxury Business of the Year in 2025.
