LVMH does not break out revenue by brand, but in its recent third quarter results, the watch and jewelry sector reported revenues of 6.16 billion euros ($7.1 billion) for the first nine months of the year. The elder Arnault bought TAG Heuer in 1999 (the initials stand for Techniques d’Avant-Garde), and it is the largest watch brand in the LVMH portfolio. Though the two are pretty inextricable.įrédéric Arnault’s first watch was a TAG Heuer Aquaracer, given to him on his 11th birthday by his father. In fact, he is much happier talking about his business than himself or his family. He can reel off statistics and models as fluently as he speaks English, Italian and German wax lyrical about the watch factory in La Chaux-de-Fonds in Switzerland and the 150 steps it takes to build one dial debate the virtues of mechanical versus connected (smart) watches and enthuse over the 500,000 members of the TAG Heuer golf app linked to the company’s golf smartwatch with great enthusiasm.
He is veritably animated discussing how he ended up at TAG Heuer and how he is changing the brand. (He has the hair of a piano maestro, which he is.). Sitting in a conference room at 22 Avenue Montaigne, the art-filled headquarters of LVMH, Frédéric Arnault is wearing a navy suit and a white shirt, collar unbuttoned, and a redesigned TAG Heuer Aquaracer Night Diver, his thick brown hair standing more or less on end. Which is why the newest power player in luxury’s first family is finally ready to open up. No matter how much the outside world wants that to be the case.
As Frédéric becomes the latest Arnault to enter the spotlight, thanks to a very public partnership with actor Ryan Gosling that was introduced earlier this month at a celebrity-packed party in Beverly Hills - Arnault’s first big in-person event since taking command of TAG Heuer last year - the family wants to be very clear that this is not a story of Kendall Roy or Roman Roy or anyone remotely Roy-like.
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