Yves Carcelle, who led Louis Vuitton and the fashion and leathergoods division of LVMH for 22 years until his departure at the end of 2012, passed away on Aug. 31 at the age of 66, after a long illness. Heading up Louis Vuitton since 1990, he took over the distribution of its products completely, eliminating the wholesale channel, and set up more exclusive stores for the brand around the world. He was also responsible for Vuitton's diversification from leathergoods into footwear, apparel and other products, and for the appointment of Marc Jacobs as artistic director. His strategies and his actions allowed the brand to reach an annual turnover of nearly €7 billion, with an operating margin of more than 40 percent.