ZURICH — Rolex has tapped Zenith honcho Jean-Frédéric Dufour as its new chief executive officer.Dufour, 45, is to take over from Gian Riccardo Marini. His start date has not been set.At the management helm of Zenith, the most thoroughbred of LVMH Moët Hennessy Louis Vuitton’s stable of watch brands, since 2009, Dufour has also worked at Chopard, Swatch Group’s Blancpain subsidiary and independent firm Ulysse Nardin.Dufour is Rolex’s third ceo since 2008 — an extraordinary turnover for a company that has only had six bosses in its 109-year history.Marini, already in his 60s, was enlisted as a “safe pair of hands” after the surprise departure in 2011 of Bruno Meier, the group’s former chief financial officer, previously a top executive at Deutsche Bank’s Geneva-based private banking operation.Meier’s was a shock appointment, promoted to the ceo slot after the sudden departure in 2008 of Patrick Heiniger, son of a legendary former Rolex boss and who was in the top job for 16 years. Heiniger died last year.“I think there is a conflict within the organization between the modernizers, who want to see faster development and more innovation, and more traditionalists, who want to see a more steady-as-she-goes approach and blame overexposure to greater China for current woes,” said Jon Cox, head of Swiss equities at broker Kepler Cheuvreux in Zurich.Geneva-based Rolex, controlled by a foundation created by its founding family, boasts annual revenues estimated at $5 billion.Rolex watchers, sometimes compared with Kremlinologists in their meticulous analysis of every rare snippet of news, interpreted the upheaval as dissatisfaction with Rolex’s performance at a time of growing competition — notably from Swatch Group’s resurgent Omega brand and Compagnie Financière Richemont’s IWC.Dufour’s successor at Zenith has yet to be named.
To celebrate Pride 2018, @themarcjacobs released the #GratefulNotHateful campaign, a social media initiative aimed at extending Pride beyond the parade. Inspired by Jacobs’ everyday outlook, the campaign features Jacobs along with a group of models and social media stars who are members and supporters of the LGBT community, all seen wearing @marcbeauty’s Highliner Gel Eye Crayons in colors of the rainbow. Head to our Instagram stories to see close-ups of the liner. #wwdbeauty
Virgil Abloh’s dad Nee and Don Crawley, cofounder of RSVP Gallery, were some of the hometown crew at the Chicago-born designer’s debut show for Louis Vuitton. (📸: @jdiderich ) #wwdmens #louisvuitton #virgilabloh
About last night: @marycharteris and @adwoaaboah hit up Hyde Park for the Serpentine Galleries’ annual summer party held in partnership with @chanelofficial. Head to WWD.com to see more photos. #wwdfashion
“This is Paris, my first show. I’m all about democracy. If some kid shows up, flew from New Jersey to just be around, let’s get him a seat.” — @virgilabloh tells WWD’s @jdiderich ahead of his first show for @louisvuitton men’s. (📸: @alfredo_piola ) #wwdmens #virgilabloh #louisvuitton
“Kate Spade was a true fashion icon who brought joy to the lives of women around the world, and inspired women to live life to the fullest. We are dedicated to carrying on her legacy,” said Anna Bakst, brand president and chief executive officer of @katespadeny. The Kate Spade Foundation announced that it will be donating $1 million to suicide prevention and mental health awareness in tribute to the recent death of Kate Spade. Read more on WWD.com. #wwdnews (📷: @chinseephoto)
A first look at @virgilabloh’s sneakers for @louisvuitton. Abloh spoke to WWD about his debut collection for Louis Vuitton, creating @kendalljenner’s #metgala outfit and redefining the heritage brand. Read the full story on WWD.com. #wwdfashion 📷: @alfredo_piola)
The world’s largest producer of denim @iskodenim is sharing the strategy behind its product development process. Read our full interview with ISKO’s product development manager Baris Ozden on the company’s extensive research practices, upcoming denim trends and the latest material innovations on WWD.com. #iskodenim