The Richemont Group, the Swiss luxury goods holding company, will see a few changes in management as four CEOs will be stepping down from their positions. The changes will affect bespoke menswear brand Alfred Dunhill as well as watchmakers Jaeger LeCoultre, Piaget, and Vacheron Constantin.
CEO of Alfred Dunhill, Fabrizio Cardinali, will be replaced by Andrew Maag, who has previously worked as the head of Europe, the Middle East, India, and Africa for fashion brand Burberry. Jaeger LeCoultre’s CEO Daniel Riedo will be leaving at the end of February for other opportunities. Vacheron Constantin’s Juan-Carlos Torres will retire and remain as non-executive president, as will Philippe Leopold-Metzger of Piaget.
It is unclear yet just how the Richemont brands will be affected, and to what extent they will be. Also unclear is if there are any other changes to be expected.
Changes in management for the Richemont group began all the way back in November when the company eliminated the company-wide CEO position in favor of nominating brand CEOs to board positions. Another notable change in Richemont management was realized when A. Lange & Sohne chairman Walter Lange passed away at age 92 January 17.
This change comes just two weeks after the group held their annual Salon International de la Haute Horlogerie (SIHH), where the Richemont Group’s various watch brands showcase their upcoming models. The event saw new offerings from brands such as IWC, Audemars Piguet, Cartier, A. Lange & Sohne, Jaeger LeCoultre, Montblanc, Panerai, and Baume & Mercier, among others. With SIHH having just ended, it is highly unlikely that Piaget, Vacheron Constantin, and Jaeger LeCoultre will do anything drastic with their lineups.
There was much buzz around the Richemont Group during the duration of SIHH 2017, with various new models being revealed to the press and the watch world.
German watchmaker A. Lange & Sohne released the limited edition Lange 31 in white gold for $150,000. The watch is so called because it features a 31-day power reserve. Other notable releases from Lange are the Zeitwerk Decimal Strike, which has the ability to chime the hours, and at ten minute intervals, the 1815 Annual Calendar, which will feature the brand new Lange Caliber L051.3 movement, and the Tourbograph Perpetual “Pour Le Mérite,” which is a tourbillon watch limited to 50 pieces, with each piece retailing for around €480,000.
Audemars Piguet released a new addition to their Royal Oak line with the release of the Royal Oak Ultra Slim in Yellow Gold. The timepiece measures at 39mm in diameter and has AP’s calibre 2121 movement. Another member of the Royal Oak family was also debuted. The Royal Oak Double Balance Wheel Openworked has a skeleton dial and two balance wheels while being surrounded by a rose gold case.
Italian brand Panerai unveiled their Luminor Submersible 1950 3 Days Automatic Bronzo PAM 671, as an homage to their own special edition PAM 382, which also featured a bronze case. They also announced six other Luminor Submersible special editions, each featuring a unique case material such as titanium and platinum-infused rose gold.
IWC reimagined their Da Vinci line, with the newest edition having a round case instead of the tonneau case found on previous iterations. IWC also labelled the watch as unisex in an attempt to market the series to women. They also had several prominent women such as Naomie Harris and Olga Kurylenko present at SIHH to help market the Da Vinci line.
It will be interesting and exciting to see where the four brands and the Richemont Group in general go moving forward following these changes.
[Featured Image by Harold Cunningham/Getty Images]