I just noticed that Givenchy has makeup now... what is LVMH doing?
Differentiating Givenchy is going to be very hard.
Continuing what I said above ^
I would keep Givenchy as a primarily RTW separates line (Giv Heritage) that coordinates with Dior, make the Giv Couture Red Carpet focused letting Dior focus only on couture customers who don't want red carpet looks. I would keep wild and crazy accessories at Giv so there is something differentiating it from Dior and so it doesn't cut into any of Dior's sales. Also if Giv is on the red carpet in People Magazine then having wild accessories makes sense for that customer wanting to buy in.
This is the only way forward without cutting into Dior which Im sure Riccardo's Givenchy was doing since Dior sucked in comparison. The idea is to get people wearing Dior and Givenchy at the same time which was not happening before. Riccardos Giv didn't go with Dior (I dont even remember what dior looked like during that period TBH) so customers were choosing a brand over the other.