LVMH Shuffles Around Jewelry Chiefs

LVMH will move the CEOs of its Chaumet and Fred jewelry brands to new positions within the company.

Jean-Marc Mansvelt, who has led Chaumet since 2014, will become the CEO of the French luxury conglomerate’s Berluti brand, which carries men’s fashion, jewelry and accessories, LVMH said last week. He will succeed LVMH-owner Bernard Arnault’s son, Antoine Arnault, who will carry on as chairman of the brand.

“With the exceptional transformation [at Chaumet] led by Jean-Marc, the important structural projects he drove, and the strong team he built, Chaumet is now fully ready to enter its next chapter,” said Stéphane Bianchi, CEO of LVMH’s watches and jewelry division.

Meanwhile, Mansvelt’s role at Chaumet will be filled by Charles Leung, who has been the CEO of Fred for the past five years. The move is a return for Leung, who spent 12 years at Chaumet from 2006 until 2018, first as managing director of Asia-Pacific, and then as vice president of international sales and distribution. LVMH is currently searching for a replacement to lead Fred, it noted.

“Under [Leung’s] leadership, Fred consolidated its unique positioning within LVMH jewelry brands and experienced a strong and healthy growth, opening new markets,” Bianchi added. “After these last five years with Fred, I am very pleased to see Charles coming back to Chaumet. I am convinced that with his strong drive and business acumen, his understanding of the jewelry industry and of the different markets, he will take Chaumet to greater heights.”