Barbara Wambach Named CEO of eLUXURY.com

Barbara Wambach Named CEO of eLUXURY.com

Business Editors

SAN FRANCISCO–(BUSINESS WIRE)–Jan. 31, 2001

eLUXURY, the authoritative site for luxury goods and services on the Internet, has appointed Barbara Wambach its new Chief Executive Officer ; it was announced today by Myron E. Ullman, Group Managing Director of parent company LVMH Moet Hennessy Louis Vuitton. Ms. Wambach, who was formerly Executive Vice President of Merchandising and Marketing at eLUXURY, succeeds Alain Lorenzo, who has been named CEO-designate of the new venture of LVMH and the De Beers Group, the world’s premier diamond company.

Mr. Ullman said, “Barbara Wambach has been with eLUXURY since its earliest stages, and was a key member of the initial management team overseeing the site’s direction and launch. Her strong relationships with the vendor community have helped to ensure eLUXURY’s wide selection and diverse stable of prestige brands on the site. We have great confidence in Barbara’s vision and leadership, and believe that under her direction, eLUXURY will continue to grow and prosper, reaching new levels of success.”

He added, “We thank Alain Lorenzo for his contribution to eLUXURY’s development and promising results. We are pleased that Alain will be leading our new De Beers joint venture, and equally delighted that an executive of Barbara’s quality and experience is in place to effect a smooth and seamless transition.”

Ms. Wambach said, “Having worked on eLUXURY since the Company was in its formative stages, it is exciting to now take the reins from Alain Lorenzo and lead the Company towards its next stage of development. Under his direction and the hard work of an incredibly talented and dedicated group of people, eLUXURY has established itself as a major player among luxury e-tailers. We had a strong Christmas season and January will be our best month – other than December – and higher than the November pre-Christmas businesses. I look forward to working with the entire eLUXURY team to bring new achievements and successes to the site.”

Before joining eLUXURY in 1999, Ms. Wambach held several positions with LVMH’s DFS Group, the world’s leading retailer to the international traveler. At DFS, she served as Senior Vice President, General Merchandise Manager for Fashion (in charge of Fashion Apparel, Leather Goods and Accessory Merchandise) from 1997 to 1999; Senior Vice President, General Merchandise Manager for Destinations from 1993-1997; and as Vice President for Merchandising of Leather Goods, from 1990-1993. Ms. Wambach began her retail career at Neiman Marcus, and from 1982 to 1990 held a number of positions including Buyer, Foundations and Daywear, Assistant Store Manager and Divisional Merchandise Manager, NM Direct.

About eLUXURY

eLUXURY (www.eluxury.com) is the authoritative address for luxury on the Internet, offering a selection of the world’s most renowned luxury merchandise and services, all delivered with unparalleled attention to detail and customer service. eLUXURY is owned by LVMH Moet Hennessy Louis Vuitton SA – the world’s leading luxury-products group; Europatweb, the Internet industrial arm of Group Arnault, which is privately-owned by LVMH’s Chairman and CEO, Bernard Arnault; and by the Company’s management, either directly or through stock options. A virtual press kit is available at www.eluxury.com/press.

About LVMH

LVMH Moet Hennessy Louis Vuitton, the world’s leading luxury products group, is represented in Wines and Spirits by a portfolio of brands that includes Moet & Chandon, Dom Perignon, Veuve Clicquot Ponsardin, Krug, Pommery, Chateau d’Yquem, Chandon, Hennessy and Hine. The Fashion and Leather Goods division includes Louis Vuitton, Celine, Loewe, Kenzo, Givenchy, Christian Lacroix, Fendi, Pucci and Thomas Pink. LVMH is also present in the Fragrances and Cosmetics sector with Parfums Christian Dior, Guerlain, Givenchy and Kenzo, and has recently acquired six promising cosmetic companies, Bliss, Hard Candy, BeneFit Cosmetics, Urban Decay, Make Up For Ever and Fresh. LVMH is active in selective retailing through DFS, Sephora and Le Bon Marche. The Group has established a Watches and Jewelry division comprising TAG Heuer, Ebel, Chaumet, Zenith, Fred, as well as Omas, the prestigious Italian writing instruments company.

Phillips, the international fine art auctioneers, which recently announced plans to merge with dePury & Luxembourg Art, is also part of the LVMH Group. Connaissance des Arts and Art & Auction Magazine, two specialized publications, have recently joined the Group.

LVMH Moet Hennessy Louis Vuitton ordinary shares, traded on the Paris Stock Exchange, may be accessed on the Reuter Equities 2000 Service under LVMH.PA, on Quotron under LVMHF.EU, and on Bloomberg under MC FP. Its ADRs, each equal to one-fifth of an ordinary share, trade on the NASDAQ National Market System in the US.

Additional information on LVMH can be accessed on the company’s home page: http://www.lvmh.com.

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