Luxury giant LVMH has just announced a series of major changes at the top of its flagship watch brands. Between surprise departures and flash promotions, these strategic moves could well redraw the landscape of high-end watchmaking. Deciphering this game of musical chairs that is shaking up the world of luxury.
Hublot: end of an era with the departure of Ricardo Guadalupe
The news has had the effect of a bomb in the watchmaking microcosm: Ricardo Guadalupe, an emblematic figure of Hublot for nearly 20 years, is leaving his position as CEO. He is not completely distancing himself from the brand, however, as he is now taking on the role of honorary president.
Ricardo Guadalupe's career at Hublot:– 2004: Joined Hublot alongside Jean-Claude Biver– 2005: Launch of the iconic Big Bang– 2012-2024: CEO of Hublot
Frédéric Arnault, CEO of LVMH Watches, praised Guadalupe's exceptional work: “For 8 years as CEO and then 12 years as CEO, Ricardo truly embodied Hublot and its development, notably thanks to his product vision, his in-depth knowledge of the industry and his relationships with all commercial and industrial partners.”
Julien Tornare: LVMH's rising star takes the reins at Hublot
To succeed Ricardo Guadalupe, LVMH has chosen Julien Tornare, a man who is rising through the ranks at lightning speed within the group. After brilliantly leading Zenith for 7 years, Tornare was appointed head of TAG Heuer less than a year ago. His lightning-fast rise to the head of Hublot is a testament to the trust that LVMH has in him.
Julien Tornare’s career:– 1998: Start at Raymond Weil– 2000-2017: Career at Vacheron Constantin (Richemont group)– 2017-2024: CEO of Zenith (LVMH)– 2024: Brief stint at the head of TAG Heuer– September 2024: Future CEO of Hublot
Frédéric Arnault is delighted with this appointment: “I am delighted with Julien's arrival at the head of Hublot, which marks the beginning of a new chapter dedicated to the future of our House and the strengthening of its unique position among the major watchmaking brands.”
TAG Heuer: Antoine Pin, back to basics
To complete this game of musical chairs, Antoine Pin will take the helm of TAG Heuer from September 1, 2024. This LVMH veteran knows the brand well, having already worked there twice in the past.
Antoine Pin's career:– 1994: Started at TAG Heuer (before acquisition by LVMH)– 2002: Marketing Director at Zenith– 2010-2014: General Manager of TAG Heuer Japan– 2019-2024: General Manager of the watch division at Bvlgari
Frédéric Arnault is enthusiastic about this appointment: “His extensive international experience, his expertise and his well-recognized passion for watches will be major assets to continue the growth and elevation of TAG Heuer.”
LVMH prepares for the future in an uncertain watch market
These strategic moves come at a delicate time for the watch industry. After several years of sustained growth, the luxury sector could experience a slowdown. LVMH therefore seems to be anticipating these challenges by placing trusted men in key positions.
The challenges facing LVMH Watches:– Maintain growth in a potentially shrinking market– Continue to innovate and attract an increasingly demanding clientele– Manage the transition to digital and e-commerce– Strengthen the brand image of its various watchmaking houses
These changes at the top of Hublot and TAG Heuer mark a turning point for LVMH Watches. The group seems to be banking on a new generation of leaders to breathe a breath of fresh air and innovation into its iconic watch brands. It remains to be seen how these appointments will translate concretely into the strategies and collections of the various houses.
The Swiss watch industry, renowned for its tradition and stability, is now at a crossroads. Faced with technological, economic and generational challenges, large groups like LVMH are no longer hesitating to shake up their organizational charts to stay in the race. This waltz of leaders at LVMH Watches could well herald a new era for luxury watchmaking.
SRQ Backlot