Stéphane Bianchi (pictured) has been appointed president of LVMH’s watch and jewelry division, so he will now oversee not only the company’s watch brands but also retailers such as Bulgari and Chaumet, the luxury giant announced.
Bianchi will also become a member of LVMH executive committee, the company said.
In 2018, Bianchi was tasked with heading LVMH’s watch division, as well as directly lead TAG Heuer. The watch division consists of TAG Heuer, Zenith, and Hublot.
in addition to the watch business, Bianchi has lately taken jewelry brands Fred and Chaumet under his wing. This new reshuffle adds Bulgari to the mix.
Tiffany & Co., its latest—and largest—jewelry acquisition, will continue to be managed outside the jewelry and watches division, the announcement said.
Jean-Christophe Babin, CEO of Bulgari since 2013, will now report to Bianchi, instead of LVMH’s top management, as in the past.
The announcement said that putting Bulgari in Babin’s portfolio “is a key step which rounds up his responsibilities. It [is] also a rationalization of the group’s organization, bringing watch and jewelry activities under a single point of leadership. Each Maison will continue to be managed individually to perpetuate its differentiation. We will frame their focus within a total hard luxury strategy, and enhance sharing of knowledge and resources for faster progress.”
Prior to coming to LVMH, Bianchi spent most of his career at Yves Rocher Group, the beauty and cosmetics company. Beginning as head of business development and CEO of its Brazil unit, he served as the group’s CEO from 1998 to 2015. Before that, he was a consultant for Arthur Andersen.
“I am very happy to welcome Stéphane as a member of the executive committee, and see our watches and jewelry activities come together under his leadership,” said LVMH chairman and CEO Bernard Arnault in the statement.
The news was first reported in WWD.
(Image courtesy of LVMH)
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