National Jeweler Network

Market Developments

Chopard saying little about US CEO’s departure

By Michelle Graff

June 24, 2014

New York--Chopard confirmed that Marc Hruschka, who has served as president and CEO of Chopard USA Ltd. since 2006, has left the company but did not provide further information on its search for a successor or who will be leading the U.S. business in the meantime.

Chopard said Hruschka left  the company to “pursue other professional goals.”

“The Scheufele family, owners of the Chopard Group, thank him for his significant contribution to further growth Chopard’s presence in the U.S. market,” the company said, noting that it views the U.S. as a “key market” with strong growth potential.

New York-based Chopard USA Ltd. was established in 1976 to distribute the brand’s watch and jewelry pieces to independent retailers here as well as to operate its own boutiques.

The company’s flagship store is located in New York City on Madison Avenue. Chopard also has stores in Las Vegas, Bal Harbour, Fla. and California, and the brand is sold by independent retailers nationwide.

Chopard, which is based in Switzerland, was founded in 1860 and is one of the last family-owned and operated luxury houses.

One of the company’s key focuses this year was sustainability. It created a “Green Carpet” collection of high jewelry, including the diamond earrings donned by Cate Blanchett at the Golden Globes, that was crafted of Fairmined gold and diamonds from approved sources.

Chopard also debuted what it said was the world’s first watch made from Fairmined gold at Baselworld in March, the 43 mm 18-karat rose gold L.U.C. Tourbillon QF Fairmined.