Luxury house LVMH announced significant changes in its timepiece category on January 5, appointing Frédéric Arnault as the CEO of LVMH Watches.
Frédéric Arnault, the second-youngest son of LVMH’s chairman and CEO Bernard Arnault, assumes this leadership position as part of the recent executive reshuffling within the French luxury conglomerate’s watches department, effective since January 1.
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The newly created role grants him authority over the business operations of renowned watchmakers Hublot, Tag Heuer, and Zenith, whose combined annual revenue amounts to USD1.9 billion.
Arnault will now report to Stéphane Bianchi, the CEO of LVMH Watches and Jewelry Division, who commended Arnault’s stint at Tag Heuer.
“I am extremely pleased to have Frédéric [Arnault] join me now within the LVMH watches and jewelry division to oversee our three watches maisons, and eager to see what his unique insights and vision will bring to fuel additional and sustainable growth for them,” Bianchi said in a statement via WWD.
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Julien Tornare, the former CEO of Zenith, now takes over as CEO of Tag Heuer, while Benoit de Clerck, who brings 25 years of experience from Compagnie Financière Richemont, will lead Zenith.