Frederic Arnault, one of many Arnault’s heirs of the LVMH Chairman and CEO Bernard Arnault, has just lately been appointed as the brand new Chief Government Officer of LVMH Watches, taking on tasks to supervise luxurious manufacturers like TAG Heuer, Hublot and Zenith.
This transfer is meant to drive sturdy and sustainable progress for the watch Maisons whereas solidifying LVMH’s place within the watchmaking trade, in keeping with an announcement made by the luxurious conglomerate on Friday. Frederic Arnault will report on to Stéphane Bianchi, the CEO of LVMH’s watches and jewelry division.
Other than that, the 29-year-old inheritor labored for Tag Heuer in 2017 and was elevated to CEO in 2020. Throughout his tenure at Tag Heuer, Arnault applied daring methods similar to forging a long-term strategic partnership with Porsche, streamlining distribution channels, elevating the model’s positioning by introducing high-end merchandise, incorporating lab-grown diamonds into watches, in addition to exploring NFTs.
With all of the efforts introduced by Arnault, it yielded constructive outcomes, with Tag Heuer gross sales estimated at CHF 729 million (€784 million) in 2022, up from CHF 682 million (€733 million) in 2021. In an unique interview with Vogue Enterprise in March, Arnault stated that Tag Heuer is on monitor to enter the unique €1 billion watch manufacturers membership.
Subsequently, as a part of the division’s restructuring, Julien Tornare, CEO of Zenith since 2017, will now function CEO of Tag Heuer. Benoit De Clerck, previously the Chief Business Officer of Panerai at Richemont, will take over as CEO of Zenith. Tornare, De Clerck, and Hublot CEO Ricardo Guadalupe will all report back to Arnault personally.
The Arnault household legacy inside the LVMH conglomerate has been evolving in recent times. All of Bernard Arnault’s offspring are holding prime administration positions in probably the most vital luxurious conglomerate and have been progressively moving into outstanding positions because the household tightens its management over the empire.
