SIEGEL TO NEW CHANEL POST

NEW YORK — Margaret Siegel has been named vice president of watches and fine jewelry at Chanel Inc., as the luxe brand looks to put more emphasis on those areas.
“The creation of a separate fine jewelry and watch division gives new focus and importance to that business and our long-term goal to be a major player in that arena,” said Barbara Cirkva, executive vice president of fashion at Chanel Inc., the U.S. arm of the Paris fashion house.
“I believe in the next two years we will likely double our number of watch doors. While that will still keep our distribution exclusive, it will give us a much stronger presence in the industry.”
Siegel brings a long history of work in the fine watch business to the newly created post. Until July 1999, she was president of the U.S. operations for Baume & Mercier and prior to that spent four years as vice president of international wholesale business at Coach, where she was integrally involved in developing the first Coach watch collection.
She also logged 12 years at Tiffany, where she held a variety of jobs, including president of Tiffany’s Swiss watch factory and vice president of merchandising.
Siegel reports directly to Cirkva and will be responsible for wholesale and retail businesses for fine watches and jewelry, which includes nine Chanel fine jewelry boutiques and 48 points of sale in fine jewelers, and specialty stores across the country that sell just watches. Cirkva said there are no plans to wholesale the fine jewelry collection.

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