THE WHAT? The former CEO of Louis Vuitton, Michael Burke, is rumoured to be the favourite to become the Chairman and CEO of LVMH Fashion Group, according to a report published by Bloomberg quoting an online fashion publication.

THE DETAILS Burke would succeed Sidney Toledano, who is said to be poised to become an advisor to Bernard Arnault. Both LVMH and Burke declined to comment when contacted by Bloomberg.

THE WHY? Currently Strategic Advisor to the Chairman, Burke has considerable experience under his belt, having joined the luxury fashion conglomerate in the 80s and held numerous senior roles over the course of his career, including CEO of Christian Dior USA, Worldwide MD of Christian Dior Couture, Chairman and CEO of Fendi, CEO of Bvlgari and Chairman and CEO of Louis Vuitton.