PARIS — Thierry Fritsch, the longtime chief executive officer of Chaumet, is passing the torch.
This story first appeared in the November 19, 2014 issue of WWD. Subscribe Today.
Jean-Marc Mansvelt, currently leather goods and accessories director at Louis Vuitton, is to take over the management helm of the Paris-based jeweler effective Jan. 1.
Both Chaumet and Vuitton are controlled by LVMH Moët Hennessy Louis Vuitton.
Bernard Arnault, chairman and ceo of LVMH, commended Fritsch for his 14 years of service. Fritsch, 59, plans to ensure a good transition and will exit LVMH to pursue other interests.
“We are grateful to Thierry for the contribution he has made to the prestigious maison of Place Vendôme. Under his watch, Chaumet has developed into a global player with a precise identity. Jean-Marc will build on these foundations, and take it to the next level,” Arnault said.
A graduate of the HEC business school, Mansvelt started his career at L’Oréal in 1988, working in marketing and product development. He joined Vuitton in 2004 as marketing director for leather goods and was promoted to his current role in 2006.
Chaumet recently expanded its watch offering, with launches in both fine jewelry and its more accessible Liens range.
When he unveiled the range earlier this year, Fritsch noted demand for fine jewelry watches was outpacing demand for other forms of precious jewelry, helping to boost sales in its watch division, which accounts for roughly 30 percent of Chaumet’s turnover.
The company has also been ramping up development of more fine jewelry collections to meet booming demand in emerging markets.