When it comes to managing its brands, France’s LVMH Moët Hennessy Louis Vuitton likes to take a laisser-faire approach. Autonomy and independence rank highly on its list of priorities. So when in January the group, controlled by Bernard Arnault, the French billionaire, announced a reshuffle of top management overseeing its watches and jewellery division, the luxury industry took note.
Starting this month, Antonio Belloni, the group’s managing director, took on responsibility for the division with an eye to bolstering the jewellery business centred on Bulgari, Chaumet, Fred and De Beers.
As part of the change, Jean-Claude Biver, current chief executive at Hublot, has taken oversight of watches, dominated by TAG Heuer but also including Zenith and Hublot.