Luxury conglomerate LVMH, under the ownership of billionaire Bernard Arnault, has appointed Frédéric Arnault, the 29-year-old scion, to lead its Watches division, effective January 1. This newly established role entails overseeing renowned brands within the division, including Hublot, Tag Heuer, and Zenith.
Frédéric Arnault’s appointment aligns seamlessly with LVMH’s strategic vision for robust and sustainable growth within the watch maisons, reinforcing the conglomerate’s esteemed position in the watchmaking industry. According to a statement released by LVMH on Friday, Arnault will directly report to Stéphane Bianchi, the CEO of LVMH’s watches and jewellery division.
Assuming the role of Head of LVMH Watches, Arnault shoulders the responsibility of steering the course for prestigious brands such as Zenith, Hublot, and TAG Heuer. Notably, he played a pivotal role in spearheading TAG Heuer’s venture into smartwatch technology, signaling a dynamic shift in the traditional horology landscape.
Frédéric Arnault’s association with TAG Heuer commenced in 2017, initially serving as the director of the Connected brand of smartwatches before ascending to the position of CEO in 2020. Prior to his significant contributions to the family business, Arnault honed his skills through internships at McKinsey and engaged in artificial intelligence research at Facebook.
In light of Forbes’ estimations, Bernard Arnault’s family holds a substantial fortune of $187.2 billion, ranking them as the second richest family globally. This wealth is primarily attributed to Bernard Arnault’s 47% stake in LVMH, established in the 1980s.
Over the last few years, Arnault’s children have taken charge of the fashion empire. For instance, Delphine Arnault assumed the position of chairman and CEO of Christian Dior Couture in January 2023.
Meanwhile, Antoine Arnault has been steering the group’s direction since 2018, along with leading the family holding company, Christian Dior SE, since December 2022.
While he recently stepped down from the CEO role at Berluti, he retains chairmanship at both Berluti and Loro Piana.
The younger sons, Alexandre and Jean Arnault, have their focus on hard luxury, with Alexandre heading product and communications at Tiffany & Co., and Jean serving as the watch director of Louis Vuitton.
Bernard Arnault’s empire traces its roots to the 1980s when he secured a stake in the financially troubled Christian Dior for $15 million in 1984.
In a visionary move in 1987, the magnate orchestrated a monumental deal that saw the merger of Louis Vuitton with the prestigious Moët et Chandon and Hennessy, giving rise to a formidable luxury goods conglomerate.
Under Arnault’s astute leadership, the conglomerate experienced exponential growth, acquiring and incorporating more than 75 brands into its portfolio, including renowned names such as Givenchy, Sephora, Marc Jacobs, and Bulgari.
In a strategic move in 2017, Arnault further strengthened his influence by outright purchasing Christian Dior for an estimated $13.1 billion. This acquisition marked a significant milestone in the ongoing expansion and consolidation of Bernard Arnault’s influential empire.
