Luxury giant Kering announced it is centralizing its luxury jewelry and watch brands in a new division, to be headed by former LVMH and Cartier director Albert Bensoussan.
Companies in the Luxury—Watches and Jewelry division are Boucheron, Girard-Perregaux, JeanRichard, Pomellato, Dodo, and Qeelin.
Bensoussan will be CEO of the overall division. Alexis Babeau, managing director of the luxury division since March 2011, is leaving the company.
The realignment will be “carried out with full respect for the autonomy of each of Kering’s brands, which will remain under the operational responsibility of their respective CEOs,” said a statement.
The company has conducted a similar realignment for its Couture & Leather Goods division.