Frédéric Arnault, 25, son of Bernard Arnault, has been appointed managing director of the lime-fired watchmaker Tag Heuer, brand of the luxury giant LVMH, according to a statement on Thursday. He entered it in 2017 to develop the activity of connected watches.
Frédéric Arnault will take office on July 1. Polytechnician, he was since 2018 Director of Strategy and Digital for Tag Heuer.
His appointment ‘comes to confirm the work accomplished at Tag Heuer where he succeeds in combining innovation, heritage and know-how within this historic house’, greeted his father Bernard Arnault, who has already entrusted positions of direction to her children Delphine, Antoine and Alexandre within LVMH.
The group also announced Thursday that Stéphane Bianchi – who previously held the position of CEO of Tag Heuer and also headed the Watchmaking Division of LVMH – would see his functions extended within this pole to now oversee the jewelry brands Chaumet and Fred, in addition Tag Heuer, Hublot and Zenith watchmaking houses.
For his part, Jean-Marc Mansvelt, the CEO of Bulgari, another jeweler of the group, ‘will continue to report to Toni Belloni’, the managing director of LVMH, details the press release.
“I am very proud to see Frédéric Arnault succeed me to Tag Heuer after having already largely contributed to its strategic repositioning”, commented Mr. Bianchi, quoted in the press release.
Last November, LVMH had signed an agreement to buy the American jeweler Tiffany, for 16 billion dollars (15.3 billion francs). The operation should be finalized in mid-2020. The integration of Tiffany will increase from 9 to 16% the contribution of the Watches and Jewelry division (Bulgari, Chaumet, Tag Heuer, Hublot, Zenith, Fred) to the total turnover of the luxury giant.
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