Bernard Arnault, CEO of LVMH and its controlling shareholder, this week renewed Nicolas Ghesquiere’s contract for another five years as creative director of womenswear at Louis Vuitton. Many industry insiders expected Ghesquière, in the job for a decade, to move on. Under the bold new command of the Louis Vuitton CEO, Pietro Beccari, in place since January, expectations were that change was on the cards. Beccari drove impressive growth at Dior and, before that, at Fendi. The scenario was that Beccari would replace Ghesquière with Jonathan Anderson, who has been doing wonders at sister brand Loewe. LVMH clearly wants him to continue doing so. Hence, the important news behind Ghesquière’s contract renewal is that Anderson is staying at Loewe.