Kering creates fine jewelry, watch division
May 06, 2014
Paris--As part of its continued emphasis on high-end brands, luxury goods conglomerate Kering has announced that it is reorganizing and giving fine jewelry and watches its own division.
Albert Bensoussan will be the chief executive officer of the group’s “Luxury–Watches and Jewelry” division, effective this month.
Brands that are part of this division are Boucheron, Dodo, Girard-Perregaux, JeanRichard, Pomellato and Qeelin. Each brand will remain under the operational responsibility of their respective CEOs, who will report to Bensoussan.
Additionally, Marco Bizzarri has been appointed CEO of the “Luxury–Couture & Leather Goods” segment.
The CEOs of Bottega Veneta, Saint Laurent, Alexander McQueen, McQ, Balenciaga, Brioni, Christopher Kane, Stella McCartney, Tomas Maier and Sergio Rossi will report to Bizzarri, who also remains president of Bottega Veneta until it receives a new chief executive.
Gucci remains under the direct supervision Kering Chairman and CEO, François-Henri Pinault.
Both Bensoussan and Bizzarri will report directly to Pinault.
Meanwhile, Alexis Babeau, who has been managing director of the group’s luxury division since March 2011, will leave the company “to take his career in a new direction,” Kering said.
“The new structure reflects the specific character of the businesses of the group’s different brands, and will provide better responses to their particular needs, adapted to each brand’s stage of development,” Pinault said. “The introduction of this structure is a logical stage in the formation of a more integrated group, to further accelerate the development of our brands while respecting the autonomy and individual identity of each of them.”
Paris-based Kering changed its name from PPR last summer as part of its plans to focus solely on apparel and accessories brands in both its Luxury and Sport & Lifestyle divisions, letting go of Fnac, its chain of entertainment retail stores, and Redcats, an online clothing and furniture retailer.
It added the jewelry brands Pomellato and Dodo early last year to extend and reinforce its portfolio of luxury brands in the jewelry market.