Frederic Arnault, one of the Arnault’s heirs of the LVMH Chairman and CEO Bernard Arnault, has recently been appointed as the new Chief Executive Officer of LVMH Watches, taking up responsibilities to oversee luxury brands like TAG Heuer, Hublot and Zenith.
This move is intended to drive robust and sustainable growth for the watch Maisons while solidifying LVMH’s position in the watchmaking industry, according to a statement made by the luxury conglomerate on Friday. Frederic Arnault will report directly to Stéphane Bianchi, the CEO of LVMH’s watches and jewellery division.
Apart from that, the 29-year-old heir worked for Tag Heuer in 2017 and was elevated to CEO in 2020. During his tenure at Tag Heuer, Arnault implemented bold strategies such as forging a long-term strategic partnership with Porsche, streamlining distribution channels, elevating the brand’s positioning by introducing high-end products, incorporating lab-grown diamonds into watches, as well as exploring NFTs.
With all the efforts brought by Arnault, it 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. In an exclusive interview with Vogue Business in March, Arnault said that Tag Heuer is on track to enter the exclusive €1 billion watch brands club.
Therefore, as part of the division’s restructuring, Julien Tornare, CEO of Zenith since 2017, will now serve as CEO of Tag Heuer. Benoit De Clerck, formerly the Chief Commercial Officer of Panerai at Richemont, will take over as CEO of Zenith. Tornare, De Clerck, and Hublot CEO Ricardo Guadalupe will all report to Arnault personally.
The Arnault family legacy within the LVMH conglomerate has been evolving in recent years. All of Bernard Arnault’s offspring are holding top management positions in the most significant luxury conglomerate and have been progressively stepping into prominent positions as the family tightens its control over the empire.
