Luxury conglomerate LVMH announced some surprising news from Paris this morning. LVMH Moët Hennessy Louis Vuitton’s head of Watches and Jewelry, Francesco Trapani, is stepping down, and will be replaced in part by Hublot’s Jean-Claude Biver.
Trapani will relinquish his role as head of LVMH’s Watches and Jewelry division as of March 1, 2014. Responsibility for LVMH’s watch brands (like TAG Heuer and Zenith) will go to Mr. Jean-Claude Biver, currently President of Hublot. Meanwhile, the luxury conglomerate’s jewelry brands (which include Bulgari, Chaumet, Fred and De Beers) will now report to Antonio Belloni, who is currently the LVMH Group Managing Director.
Bernard Arnault, CEO and Group Chairman of LVMH, commented on Trapani’s resignation, “Over many years Francesco Trapani has progressively built Bulgari into a brand respected around the world for its refinement and appeal. Over the past three years, Francesco has successfully completed the integration of this prestigious brand within our group. I am delighted that I will continue to be able to draw on his wisdom and advice in the years ahead. I am also delighted that Jean-Claude Biver has agreed to lead our wacthmaking activities. His experience and achievement within this sector speak for themselves, best illustrated by the remarkable success of Hublot. I am convinced that his entrepreneurial talent and creativity will add significant momentum to our other brands in the sector.”
According to LVMH, Trapani will stay on as an adviser to Arnault on matters relating to the conglomerate’s jewelry operations. Trapani will also remain on as a Director on the Board of LVMH Moët Hennessy Louis Vuitton. During his tenure, Trapani led the successful integration of Bulgari within LVMH.
Photos courtesy LVMH and Hublot.