Luxurious powerhouse LVMH, owned by billionaire Bernard Arnault, has handed the reins of its Watches division to the 29-year-old scion, Frédéric Arnault.
This newly created function encompasses the oversight of iconic manufacturers akin to Hublot, Tag Heuer, and Zenith.
His appointment took impact from January 1, Arnault’s because it aligns with LVMH’s imaginative and prescient for strong and sustainable development throughout the watch maisons, additional solidifying the conglomerate’s stature within the watchmaking trade.
Based on the luxurious big’s assertion on Friday, Arnault studies on to Stéphane Bianchi, CEO of LVMH’s watches and jewelry division.
In his function as the pinnacle of LVMH Watches, Arnault assumes duty for the celebrated manufacturers, steering the course for Zenith, Hublot, and TAG Heuer.
Notably, he beforehand spearheaded the Swiss watch producer’s foray into smartwatch know-how, marking a dynamic shift within the conventional horology panorama.
Arnault’s journey with TAG Heuer commenced in 2017, the place he initially served because the director of the Related model of smartwatches, earlier than ascending to the place of CEO in 2020.
Earlier than making important strides within the household enterprise, Frédéric Arnault honed his abilities by internships at McKinsey and delved into the realm of synthetic intelligence analysis at Fb.
What it’s best to know
Primarily based on estimations by Forbes, Bernard Arnault’s household, holds a $187.2 billion fortune, inserting them because the second richest household globally.
Their wealth is primarily attributable to billionaire Arnault’s 47% stake in LVMH, established within the Eighties.
- Over the previous few years, Arnault’s kids have taken cost of the style empire. As an illustration, Delphine Arnault assumed the place of chairman and CEO of Christian Dior Couture in January 2023.
- In the meantime, Antoine Arnault has been steering the group’s path since 2018, together with main the household holding firm, Christian Dior SE, since December 2022.
- Whereas he just lately stepped down from the CEO function at Berluti, he retains chairmanship at each Berluti and Loro Piana.
- The youthful sons, Alexandre and Jean Arnault, have their deal with exhausting luxurious, with Alexandre heading product and communications at Tiffany & Co., and Jean serving because the watch director of Louis Vuitton.
The inspiration of Bernard Arnault’s empire dates again to the Eighties when he acquired a stake within the bancrupt Christian Dior for $15 million in 1984.
The visionary magnate orchestrated a monumental deal in 1987, merging Louis Vuitton with the illustrious Moët et Chandon and Hennessy, birthing a luxurious items conglomerate.
Beneath his management, the conglomerate expanded exponentially, amassing over 75 manufacturers, together with Givenchy, Sephora, Marc Jacobs, and Bulgari.
In 2017, Arnault solidified his grip by outright buying Christian Dior for an estimated $13.1 billion.
