LVMH

PARIS — Fred has named Charles Leung chief executive officer, filling a position that was vacated several months ago at the LVMH Moët Hennessy Louis Vuitton-owned jeweler.

The group tapped an internal talent for the job, with Leung, who is due to take up the position on Nov. 1, joining from Chaumet where he managed international sales and distribution.

“He brings deep knowledge of jewelry and extensive experience managing people and in retail around the world,” said Toni Belloni, group managing director at LVMH.

“These will be great assets in pursuing and accelerating the development of Fred along with the team in place.”

Leung, who was born in Hong Kong, has experience straddling French and Chinese cultures, with degrees from both the Chinese university of Hong Kong and French business school ESSEC in Paris.

The executive joins as the house seeks to strengthen its profile in Asia.

The previous ceo, Rachel Marouani, left the jewelry house in 2017 after a six-year tenure, moving to manage another LVMH brand, Make Up For Ever.

In December, Fred named Valérie Samuel, the house founder’s granddaughter, as artistic director and vice president, in a rare example of a descendant returning to the fold of a family house well after its sale.

Marouani had refocused the brand with an emphasis on its signature sailor cable and knot-inspired designs like Force 10 and 8 Degrees Zero, and, following her tenure, the house has been gearing up for an acceleration phase. With an eye on Chinese markets, the company has been opening new stores in the country at a pace of around five stores a year.

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