LVMH names Frederic Arnault CEO of Tag Heuer as Swiss luxury-watch maker seeks to reinvent itself

The new CEO of Tag Heuer joins some of his siblings in taking on a senior role within LVMH

Four of founder Bernard Arnault’s five children now occupy senior positions within the group, at Louis Vuitton and luggage maker Rimowa among others

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French first lady Brigitte Macron (left), Frederic Arnault and Helene Arnault attend a tribute to fashion designer Karl Lagerfeld at the Grand Palais in Paris. LVMH has named Frederic Arnault as CEO of Tag Heuer watches. Photo: Getty Images

Published: 11:29am, 5 Jun 2020Updated: 11:29am, 5 Jun 2020

LVMH says Frederic Arnault, one of the younger sons of the luxury goods group’s billionaire boss, will take over running watch brand Tag Heuer, joining his siblings in taking on bigger roles within the conglomerate.

The Arnault family controls just under half of LVMH, which has vastly expanded through acquisitions under CEO Bernard Arnault, France’s richest man, and owns fashion labels such as Louis Vuitton and also champagne and jewellery brands.

Frederic Arnault, 25, will step up at Tag Heuer as of July 1, the company says. He had previously worked at the label, but with a focus on developing its digital activities, at a time when watch brands are struggling to reinvent themselves for a younger clientele and face falling demand.

Four of Bernard Arnault’s five children now occupy senior positions within the group, including at Vuitton and at luggage maker Rimowa, the German luggage brand helmed by CEO Alexandre Arnault.

LVMH luxury group chief executive Bernard Arnault (left) and his son Frederic Arnault. Photo: Reuters

LVMH also said in a statement that Stephane Bianchi, who oversees all watch brands, would expand his remit to take the helm of jewellery brands too, with the exception of Bulgari. Other brands include Chaumet.