Frédéric Arnault has been named the CEO of LVMH Watches, a newly established position overseeing Hublot, Tag Heuer, and Zenith. This move is aimed at driving robust and sustainable growth for the watch Maisons while solidifying LVMH’s position in the watchmaking industry, according to a statement released by the luxury conglomerate on Friday. Arnault reports directly to Stéphane Bianchi, CEO of LVMH’s watches and jewelry division.
This appointment marks a substantial expansion of Arnault’s responsibilities. The 29-year-old scion of luxury magnate Bernard Arnault joined Tag Heuer in 2017 and ascended to the role of CEO in 2020. During his tenure at Tag Heuer, Arnault implemented bold strategies, including forging a strategic long-term partnership with Porsche, streamlining distribution channels, elevating the brand’s positioning by introducing high-end products, incorporating lab-grown diamonds into watches, and exploring NFTs.
These efforts yielded positive outcomes, with Tag Heuer sales estimated at CHF 729 million (€784 million) in 2022, up from CHF 682 million (€733 million) in 2021, as per Morgan Stanley estimates. In an interview with Vogue Business in March, Arnault indicated that Tag Heuer is on track to join the exclusive €1 billion watch brands club.
As part of the division’s management restructuring, Julien Tornare, CEO of Zenith since 2017, will now serve as CEO of Tag Heuer, while Benoit De Clerck, formerly the Chief Commercial Officer of Panerai at Richemont, will take over as CEO of Zenith. Tornare, De Clerck, and Ricardo Guadalupe, CEO of Hublot, will all directly report to Arnault.
The roles of the Arnault family members within the LVMH conglomerate have evolved in recent years: Delphine Arnault assumed the role of Chairman and CEO of Christian Dior Couture in January 2023; Antoine Arnault has overseen the group’s communications and environmental initiatives since 2018. He also serves as CEO of the family holding company, Christian Dior SE, since December 2022. While stepping down as CEO of Berluti, he remains chairman and holds the same position at Loro Piana. The three younger sons are concentrating on hard luxury: Alexandre Arnault manages product and communications at Tiffany & Co., and Jean Arnault serves as the watch director at Louis Vuitton.
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