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Swatch Group Millennial consumer


demand is credited for a record 70% rise to $628


million in half-year profits for Swatch Group, controlled by Switzerland’s Hayek


family. The rise was despite the impact of Apple Watch


LVMH next gen Frederic Arnault promoted


F


rederic Arnault, the next generation of the world’s leading family-owned luxury products group, has been promoted as


part of a restructure of leadership of the group’s wristwatch brands. LVMH Moët Hennessy Louis Vuitton announced Frederic was appointed to strategy and digital director at TAG Heuer when it confirmed Stephane Bianchi, a former chief executive of French cosmetics group Yves Rocher, would succeed Jean-Claude Biver (69). Biver is the renowned non-family executive credited with revitalising the group’s watch brands. Biver relinquished operational duties due to ill health, but remained non-executive president of the unit. Frederic is the 23-year-old son of Bernard Arnault, chairman and chief executive of LVMH, and worked on TAG Heuer


NUMBERS CRUNCHED


reward offered for information the whereabouts of Africa’s youngest billionaire Mohammed “Mo” Dewji. The MeTL Group family leader was released 10 days after he was seized by armed men.


ISSUE 74 | 2018


socially invested by the Fernando family, of Dilmah tea fame, in a new 9.3ha centre for “empowerment, inspiration, community development and climate change” in the impoverished Eastern Province of Sri Lanka.


invested by the Agnelli family- controlled Fiat Chrysler Automobiles (FCA) to develop and test autonomous vehicles. FCA mourned Sergio Marchionne, the non-family chief executive who worked with John Elkann, the third-gen Agnelli principle, to rescue FCA from bankruptcy.


spent in 11,000 impact investments in 2017. Investors plan to commit 8% more capital in impact deals in 2018, says The Annual Impact Investor Survey. Almost all respondents said investments have “met or exceeded their expectations” for impact (97%) and fi nancial (91%) performance.


CAMPDENFB.COM 5


Frederic Arnault, left, and his father Bernard Arnault, chairman and chief executive of LVMH


sales and the crackdown on gifting in China.


GOOD QUARTER


smartwatches as the brand’s head of connected technologies for the past year. Bernard has long positioned his heirs in pivotal roles within LVMH. His son Alexandre, Frederic’s older brother, was appointed co-chief executive of German luggage maker Rimowa at the age of 24 in 2016. Delphine (43), Ferderic’s sister, is director and executive vice president of Louis Vuitton, was the youngest person to join the LVMH board in 2003. Antoine (41) is the chief executive of Berluti and chairman of Loro Piana, both part of LVMH. The group reported in July the “good performance” of its portfolio of watch and jewellery brands. It posted an increase of 8% to €1.98 billion ($2.33 billion) in the first half of 2018, when compared to the first half of 2017. The entire LVMH announced revenue of €21.8 billion ($25.6 billion) in the first half of this year, an increase of 10%.


QUARTER BAD


Samsung


The slowest sales of its flagship premium Galaxy S9 smartphone since the S3 in 2012 were to blame for Samsung’s first profit drop in seven quarters, down 5.4% from the previous quarter to $13.2 billion in April-June.


$437,000


$7.4 m


$30 m


$35 bn


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