Changes at the top for LVMH's Berluti and Chaumet

LVMH-owned French luxury menswear brand Berluti has confirmed that Antoine Arnault will step down as chief executive in January 2024.

Arnault, the eldest son of Bernard Arnault, chairman and chief executive at LVMH, will be replaced by Jean-Marc Mansvelt, who has been chief executive officer of heritage jeweller Chaumet since 2014.

Mansvelt will take up his new role on January 1, while Arnault will remain chairman of Berluti. Arnault is also chairman of luxury brand Loro Piana and is in charge of image and environment for LVMH.

Commenting on the move, Arnault said in a statement: “I am very happy and quite emotional to welcome Jean-Marc as the new CEO of the exceptional Maison Berluti, building on values of elegance, audacity and unique savoir-faire.

“Jean-Marc’s wealth of experience that he has demonstrated throughout these years will be decisive assets in driving the ongoing development of Berluti.”

The news follows the announcement that Berluti will be dressing the French team “from head-to-toe” for the opening ceremonies of the Olympic and Paralympic Games Paris 2024. Berluti said the uniforms will reflect “the modern spirit of French elegance”.

Antoine Arnault to step down as CEO of Berluti

Stéphane Bianchi, chief executive officer of watches and jewellery division at LVMH, said: “I would like to thank Jean-Marc for his tremendous achievements at Chaumet over the past nine years. His strong vision, his unique understanding of this amazing Maison and his ability to create and drive successful teams have taken Chaumet to an unparalleled level and positioned the Maison as a real 'choice of distinction' within the greatest jewellers of the Place Vendôme.

“With the exceptional transformation 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.”

Replacing Mansvelt at Chaumet will be Charles Leung, the current chief executive officer of fine jewellery brand Fred since 2018. LVMH said that Leung’s replacement will be announced “in due course”.

On Leung’s appointment, Bianchi added: “After these last 5 years with Fred, I am very pleased to see Charles coming back to Chaumet as he already played a key role in the success of this iconic French Maison for 12 years, leading the fast development of the Maison especially in Asia.

“I am convinced that with his strong drive and business acumen, his understanding of the jewellery industry and of the different markets, he will take Chaumet to greater heights.”