Luxury goods giant LVMH Moet Hennessy Louis Vuitton SA on Monday announced it will replace the boss of its leather goods and fashion division which generates about 60 per cent of the its operating profit.

The company said Marcello Bottoli, who has held the role of chief executive of Louis Vuitton Malletier for 15 months, will be replaced by Yves Carcelle, who is head of all LVMH fashion and leathers goods units.

No reason was given for the reshuffle but in a separate statement the firm confirmed it had "experienced excellent sales performance during October and November, with growth for the two months of 16 per cent".