Delvaux appoints Cartier executive Yanina Novitskaya as new CEO

Delvaux will have a new chief executive officer from December 1. Yanina Novitskaya will take the helm of the Belgian luxury brand, which has been part of Richemont since 2021. The appointment was announced via the Swiss luxury group's press page. Novitskaya succeeds Jean-Marc Loubier and will report to Philippe Fortunato, CEO of Richemont's Fashion & Accessories Maisons.

Novitskaya worked at Cartier for 19 years, where she eventually became CEO of Cartier South East Asia & Oceania. She graduated from the Moscow State University of Design and Technologies.

The appointment comes a few months after Richemont wrote off over 100 million euros of Delvaux's debt. The debt was converted into shares, which strengthened the Belgian brand's financial position. Richemont had previously provided Delvaux with a 90 million euro loan in 2022.

Fortunato called Novitskaya's knowledge of the luxury sector important for Delvaux's next phase. He referred to further strengthening its positioning and stimulating international growth.

Delvaux was founded in Brussels in 1829 and is considered the oldest luxury leather goods house in the world. The brand has 50 stores worldwide and manufactures its leather goods in workshops in Belgium and France.