Michael Wunderman, formerly president of luxury watch brand Montres Corum, in January replaced Stacie Orloff as president of Corum USA, in an unexpected restructuring of top management. Orloff had been president of Corum USA, based in Irvine, Calif., since its founding in 2000.
Two new top posts—vice president of sales and vice president of operations, duties formerly under Orloff’s purview—also were added to Corum USA’s operation.
Wunderman remains vice chairman of Montres Corum’s executive board, which his father, Severin Wunderman, chairs, as well as a member of its creation committee. His former job at Montres Corum was vacant at press time.
Corum owner Severin Wunderman purchased the brand in 2000 after spending 25 years with Gucci Timepieces.
Orloff worked with the Wunderman family for 25 years, first at Gucci Timepieces and then at Corum USA. She and her team, she recalled for JCK, “pioneered Corum’s successful move into the U.S. luxury market, which wasn’t easy. I consider that the crowning achievement of myself and my team. I’m very proud of that, and of the relationships we developed with our retailers.”
When Corum entered the U.S. market, it had no points of sale and a $1,500 entry price. Today, its range is $3,000 to $500,000 (with most sales between $8,000 and $10,000), with 175 points of sale in North America.
While Orloff didn’t have immediate plans, she told JCK, “I’m confident that when one door closes, another opens.”