LVMH has announced the appointment of Jean-Christophe Babin as the new CEO of its prestigious watches division. Babin, a seasoned veteran in the watches and jewelry industry, has been promoted from within the company and will take over from Frederic Arnault, who recently transitioned to oversee the rapidly growing Italian cashmere brand, Loro Piana.
Babin’s appointment comes amid a series of high-level leadership changes within LVMH, as the company’s chairman and CEO Bernard Arnault’s five children take on more prominent roles in the luxury conglomerate.
The decision to elevate Babin to the role is seen as a strategic move to address the challenges facing the watches division. In recent months, the sector has struggled with slowing demand, particularly as inflation has caused high-end consumers to cut back on luxury purchases. Last year, the division saw a 2% drop in sales.
Babin brings a wealth of experience to the position. He has served as the CEO of Bulgari, LVMH’s renowned Italian luxury brand, for the past 12 years, guiding the company through significant growth and success. Prior to his tenure at Bulgari, Babin spent 12 years at Tag Heuer, where he played a crucial role in expanding the brand’s global presence.
Starting April 1, Babin will juggle his new responsibilities overseeing LVMH’s watches division while continuing his leadership role at Bulgari. His deep expertise in the luxury market and his proven track record in the industry make him an ideal choice to steer the watches division through its current challenges.
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