PARIS — Philippe Mougenot, president of Chanel’s watch and jewelry division, is set to leave the brand at the end of June.
After 17 years at Chanel, he wishes to focus on his personal life and prioritize family and personal interests, the firm stated.
Mougenot joined Chanel in 1999 as president of the watch and jewelry division, and the house credited him as having “carried the watch and jewelry activities to the highest level of excellence.
“In jewelry, Chanel is recognized today as one of the major players on Place Vendôme, notably thanks to the collections created by the Studio, integrated in 2009, and to the high jewelry workshop, created in 2012,” Chanel stated.
In timepieces, meanwhile, Mougenot has confirmed the brand’s watchmaking reputation with successful collections like the J12 launching during his tenure. The executive has overseen the growth of the house’s in-house production capacity, decreasing its dependence on external suppliers.
During this time, the brand has also upped its innovation capacity, introducing original materials. These include an exclusive beige gold, a titanium ceramic compound used in the J12 Chromatic and designs in the Mademoiselle Privé collection featuring gold and silver embroidered dials created by Maison Lesage, which is owned by Chanel.
Chanel has also upped its advertising presence under his management, introducing its first new institutional watch campaign in more than a decade in 2014.
Mougenot will be succeeded by Frédéric Grangié, previously president and chief executive officer of Louis Vuitton Japan, who joined Chanel on Feb. 29. The executive will take on the role of president of the watch and jewelry division on July 1, reporting directly to Chanel chairman Alain Wertheimer.
Before joining Chanel, Mougenot was president of Benedom, bought by Bernard Arnault in 1995, before it was merged with jewelry label Fred and integrated into LVMH Moët Hennessy Louis Vuitton.
Chanel entered fine watchmaking in 1987 with the Première at a time when it was unusual for prestige fashion houses to tap such segments. Its watch and jewelry division was launched in 1993.