Novitskaya to lead Delvaux into new luxury era

Delvaux ushers in new leadership

Belgian luxury leather goods house Delvaux will welcome a new chief executive officer on 1 December. Yanina Novitskaya takes the helm of the historic brand, which has been part of Richemont since 2021. The Swiss luxury group announced the appointment through its official press channels. Novitskaya succeeds Jean-Marc Loubier and will report to Philippe Fortunato, CEO of Richemont’s Fashion & Accessories Maisons.

A seasoned Cartier executive

Novitskaya brings nearly two decades of experience at Cartier, one of the most prestigious names in Richemont’s portfolio. During her 19 years at the French jewellery maison, she rose to become CEO of Cartier South East Asia & Oceania, a role that gave her deep insight into high-net-worth consumers across diverse markets. She holds a degree from the Moscow State University of Design and Technologies.

Fortunato welcomed the appointment, highlighting Novitskaya’s extensive knowledge of the luxury sector. He described her expertise as vital for Delvaux’s next phase, which will focus on further strengthening the brand’s positioning and stimulating international growth.

Financial foundations strengthened

The leadership change follows a significant financial restructuring at Delvaux. A few months ago, Richemont wrote off more than €100 million of the Belgian brand’s debt. The debt was converted into shares, a move that shored up Delvaux’s balance sheet and gave the maison a firmer footing. Richemont had already provided Delvaux with a €90 million loan in 2022, underlining its commitment to the brand’s long-term potential.

With Novitskaya at the wheel, Delvaux is expected to build on its unique heritage while sharpening its appeal to today’s luxury consumers. The combination of her regional expertise and Cartier’s disciplined approach to desirability could prove a powerful catalyst for growth.

A heritage like no other

Founded in Brussels in 1829, Delvaux is widely regarded as the oldest luxury leather goods house in the world. Its creations have adorned royalty and discerning clients for nearly two centuries. Today, the brand operates 50 stores worldwide and manufactures its leather goods in workshops in Belgium and France. That European craftsmanship remains central to Delvaux’s identity, setting it apart in a crowded luxury landscape.

What lies ahead

As Delvaux enters this new chapter, all eyes will be on Novitskaya’s strategy. The brand has already demonstrated resilience, and with Richemont’s backing and a strengthened capital structure, it is well placed to expand its international footprint. The appointment of a leader with deep luxury experience signals a clear ambition: to elevate Delvaux’s positioning and attract a new generation of connoisseurs while honouring its storied past.