Albert Bensoussan Talks Kering Watch Strategy

Albert Bensoussan’s arrival at Kering signaled that, while it is a relatively modest player in hard luxury, the French group is serious about growing the category. The former LVMH executive took over as chief executive officer of Kering’s newly created luxury watches and jewelry division in May 2014, just as growth in the segment was slowing because of a sharp reduction in demand from Asia and a drop in spending by Russian tourists. Sales of hard luxury grew just 1 percent at constant exchange rates in 2014, according to an estimate by Bain & Co. Bensoussan is in charge of seven brands, ranging from Place Vendôme jeweler Boucheron to more recent acquisitions such as Sowind Group, Qeelin and Pomellato. Ulysse Nardin joined the fold on Nov. 1, while Gucci Watches and Jewelry is operated separately under the responsibility of Gucci ceo Marco Bizzarri. In his first year on the job, Bensoussan installed new management at several brands. Antonio Calce took over as ceo of Sowind Group, parent of Swiss luxury watch brands Girard-Perregaux and JeanRichard, succeeding Michele Sofisti. And Christophe Artaux was named ceo of Qeelin, the Chinese jewelry brand, after its cofounder, Guillaume Brochard, left to pursue other interests. Kering group revenues rose 4

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