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LVMH Announces Changes in Watch, Jewelry Divisions

In Industry News, What's New by Jeff PrineLeave a Comment

LVMH logoParis—LVMH said Monday that its watch and jewelry divisions will now be run as two separate businesses following the departure of Francesco Trapani who had been president of LVMH jewelry and watches.

Trapani, who had been at the held of the division since 2011 ushering in Bulgari into the LVMH fold, will leave his position on March 1 but will remain as an advisor to Chairman/CEO Bernard Arnault.

Jewelry brands Bulgari, Chaumet, Fred and De Beers will be run by Antonio Belloni, LVMH’s managing director. While Jean-Claude Biver, president of Hublot, will also oversee the group’s other watch brands, Tag Heuer and Zenith.

“Over the past three years, Francesco has successfully completed the integration of Bulgari, this prestigious brand within our group,” Arnault said in a statement. “I am delighted that I will continue to be able to draw on his wisdom and advice in the years ahead.”

Trapani will remain a member of the group’s board of directors, LVMH said.

Arnault also credited Biver with helping to revive Hublot. “I am also delighted that Jean-Claude Biver has agreed to lead our watchmaking activities. His experience and achievement within this sector speak for themselves, best illustrated by the remarkable success of Hublot,” Arnault said. “I am convinced that his entrepreneurial talent and creativity will add significant momentum to our other brands in the sector.”

 

 

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