Biver Exits LVMH Watch Division Role

The news comes as Swiss watch exports rise in August.

Jean-Claude Biver is stepping down from his operational duties overseeing the watch division of LVMH Moët Hennessy Louis Vuitton, owner of Tag Heuer, Zenith and Hublot, but will stay on as a nonexecutive president of the division, the watchmaking veteran and industry leader told WWD, confirming reports.

“Yes, I am becoming non-executive president of the three brands and of the watch division. I will stay on as a sort of adviser, consultant and especially to transmit my 45 years of experience to the new teams,” Biver said.

Biver’s transition comes as data showed that Swiss watch exports advanced 5.5 percent in August, lifted by the industry’s main markets, according to the Federation of the Swiss Watch Industry.

Exports in the month totaled 1.5 billion Swiss francs, or $1.55 billion, rising at a slightly slower pace than in July, and with the most important market, Hong Kong, gaining 14.5 percent.

The August data “seem to confirm a moderate growth” in the second half of the year, noted Luca Solca, analyst with Exane BNP Paribas, in a research note to clients.

At 9 percent, growth in the U.S. confirmed the recovery of that market, the federation said. Exports to China grew at a brisk 18.6 percent, with the federation flagging a favorable comparison base.

Europe posted a decline, down 4.3 percent overall despite a stabilization of exports to the U.K., up 0.6 percent, while France, Italy and Spain saw drops.

Singapore, the United Arab Emirates and Thailand also posted strong growth in August, up 25 percent, 21.9 percent and 33.3 percent, respectively.

Growth in exports during August was led by higher priced watches, with timepieces priced above 500 francs posting a 7.7 percent rise while exports of timepieces priced below 500 francs fell 10.2 percent.

Precious metal and bimetal watches grew the fastest, up 7.6 percent and 7.8 percent, respectively.

A towering figure in the industry, Biver is credited with rescuing the traditional watchmaking industry in the Eighties by reviving Blancpain, one of many brands that suffered from the onslaught of quartz technology. He later boosted the fortunes of Omega, and has run LVMH’s watch brands since 2014.

Officials at LVMH declined to comment. The executive, who has been ill, referred to his treatment and said he hoped to be better by Christmas.

“Today I have entered my 70th year, and I will soon celebrate 45 years in the business — next year — and when you are 70 years old and when you have been sick like I have been, and still am…you realize that life is short,” he said.

“It’s important to get the transmission stage right,” he added. ■