180
Fashion Jobs
SAMSOE
Account Manager no (Menswear)
Permanent · OSLO
BEST SELLER
Bestseller Søker Business Controller Til Vero Moda
Permanent · OSLO
ABBOTT
Territory Manager
Permanent ·
NEW YORKER
Butikkselger 100% Til New Yorker i Bergen
Permanent · BERGEN
H&M
Sales Advisor, Deltid - Metro Senter, Lørenskog
Permanent ·
H&M
Sales Advisor, Deltid - Amfi Kanebogen, Harstad
Permanent · HARSTAD
H&M
Sales Advisor, Deltid 80% (Vikariat) - h&m Torgkvartalet, Stjørdal
Permanent · STJØRDAL
H&M
Sales Advisor (Sommerassistenter) - Strandtorget, Lillehammer
Permanent · LILLEHAMMER
H&M
Sales Advisor (Sommerassistenter) - Nordbyen Kjøpesenter, Larvik
Permanent · LARVIK
H&M
Sales Advisor (Sommerassistenter) - Farmanstedet, Tønsberg
Permanent · TØNSBERG
H&M
Sales Advisor, Deltid (Vikariat) - Alti Mandal
Permanent · MANDAL
ZIZZI
no: Salgsassistent. 20% Vikariat
Permanent · STRØMMEN
NEW YORKER
Ekstrahjelp/Sommerhjelp Til New Yorker i Hamar
Permanent · HAMAR
TOMMY HILFIGER
Tommy Hilfiger is Looking For a Sales Assistant (Full Time) For Our Outlet Store, Vestby
Permanent ·
TOMMY HILFIGER
Stockroom Manager, Tommy Hilfiger - Vestby Outlet
Permanent ·
POPKEN FASHION GMBH
Social Media Manager (M/W/D) - Norwegian Market (Freelancer)
Permanent · OSLO
POPKEN FASHION GMBH
Copywriter/Translator - Norwegian Market (Freelancer)
Permanent · OSLO
PANDORA
Sales Assistant Part Time (M/F/X) - Sandvika Storsenter
Permanent · SANDVIKA
JACK & JONES
Jack & Jones Lillehammer Strandtorget Søker Deltid 80%
Permanent · LILLEHAMMER
H&M
Sales Advisor (Sommerassistent) - Kvadrat Kjøpesenter, Sandnes
Permanent · SANDNES
JIMMY CHOO
Sales Associate - Oslo - Norway
Permanent · OSLO
H&M
Sales Advisor (h&m Home) - Karl Johan, Oslo
Permanent · OSLO
By
Reuters API
Published
Jul 14, 2017
Reading time
3 minutes
Download
Download the article
Print
Text size

Tipped as future CEO, Richemont watches boss in surprise early exit

By
Reuters API
Published
Jul 14, 2017

Georges Kern, tipped as a potential chief executive of Chloé and Alaia owner Richemont, left the luxury goods group abruptly on Friday just four months after taking over as head of its watchmaking division, with reports that he is embarking on a project to boost the Breitling brand.


IWC



The departure of Kern, who had been at Richemont for 17 years, is a blow after the maker of Cartier, IWC, Montblanc and other top brands recently moved to a new management structure that split the top role between a handful of heir-apparents to the post.

Swiss newspaper Le Temps reported that Kern had now taken a stake in rival Swiss watchmaker Breitling and planned to try to revive that brand. Breitling declined to comment on the report but Richemont seemed to confirm it.

"Georges has been offered an interesting opportunity to become an entrepreneur," chairman Johann Rupert said in a statement. "He has had a very successful career at IWC Schaffhausen and we wish him well."

Kern, who steered IWC for 15 years, was previously seen going head-to-head for the CEO job with former Montblanc executive Jerome Lambert. "Kern was touted as a potential future CEO of the group but the company has recently moved to a committee structure after Richard Lepeu retired as CEO," Kepler Cheuvreux analyst Jon Cox said. "He may have just thought the structure wasn't for him."

In a reshuffle announced last November, Lambert assumed responsibility for all businesses outside jewellery and watchmaking, while Kern was appointed head of watchmaking, marketing and digital. They assumed their new roles just under four months ago.

Richemont's other watch and jewellery brands include Jaeger-LeCoultre, Van Cleef & Arpels and Piaget. Luxury watchmakers have been struggling with dwindling demand in their biggest markets, Hong Kong and the US, and growing competition from the likes of Apple.

CHANGE AT THE TOP

The unconventional move to abolish the top executive role came as part of leading investor Johann Rupert's efforts to refresh the Geneva-based group's ageing management team and board.

Rene Weber, a luxury specialist at Swiss bank Vontobel, said rumours had been circulating about Kern's possible departure for months, making his resignation only "half a surprise". "We recognised (Kern) as a strong leader and an emotional person, who could also sometimes cause friction," Zuercher Kantonalbank analysts said in a note on Friday. "Apparently, the new role didn't allow him to fulfil his potential."

The group has been hard hit by a severe and prolonged watch industry downturn, which saw Richemont's timepiece sales - accounting for just under half of group revenue - plummet 15% last year.

Despite some recovery in recent months, Richemont in May struck a cautious note, citing worries over volatile geopolitical and trading climates.

Analysts said they didn't see Kern's departure as a reflection of any underlying problems with the watchmaking division.
"We don't assume the abrupt shift is related to any deterioration in the watch business," Zuercher Kantonalbank analysts said, pointing to recent improvements in Richemont's watch sales.

Watchmaking, as well as marketing and digital activities, will now report directly to the senior executive committee, Richemont said.

© Thomson Reuters 2024 All rights reserved.