LVMH has appointed Jean-Christophe Babin to the helm of LVMH Watches, succeeding LVMH-scion Frédéric Arnault, the group announced in a statement on Friday. The role oversees LVMH’s watch brands TAG Heuer, Hublot, and Zenith. Babin will maintain his position as CEO of Bulgari.
The move comes at a pivotal moment for LVMH’s watch division, which has been refining its brand positioning and operational structure. At this year’s LVMH Watch Week, the group emphasized innovation and technical advancements, underscoring its ambition to compete with Richemont and Swatch Group in a slowing market.
The watch industry faces challenges amid fluctuating demand in Greater China, changing consumer preferences, and evolving retail dynamics. While Swiss watch exports hit record highs in 2023, growth has since softened, especially in key Asian markets.
LVMH’s 2024 sales of Watches and Jewelry were down 3 percent. The group is betting on reinforcing brand identities and implementing strategic leadership to navigate this landscape, with Babin now tasked with accelerating momentum across the group’s watch portfolio.
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