Richemont
Swiss luxury conglomerate Richemont has revealed leadership changes for its prestigious watchmaking brands Jaeger-LeCoultre and Vacheron Constantin, effective January 1, 2025:
- Jérôme Lambert, Richemont’s current Chief Operating Officer (pictured left), will return as CEO of Jaeger-LeCoultre.
- Laurent Perves, the current Chief Commercial Officer of Vacheron Constantin (pictured right), will be promoted to CEO of the brand.
Jérôme Lambert, with over 26 years at Richemont, first joined the group’s Jaeger-LeCoultre division in 1996, starting in finance before serving as CEO from 2002 to 2013. During his tenure, Lambert streamlined operations, expanded Richemont’s direct retail network, and gained the trust of the group’s chairman, Johann Rupert. After leading Montblanc as CEO (2013–2017), Lambert became Richemont’s COO and later CEO in 2018. His return to Jaeger-LeCoultre is expected to leverage his deep industry knowledge and rich experience within Richemont to maintain the brand’s leadership in Swiss watchmaking.
The brand noted, “Jérôme will ensure Jaeger-LeCoultre’s continued position as a pioneer in Swiss watchmaking and its long-term success.”
Laurent Perves brings over 20 years of industry experience, having joined Vacheron Constantin in 2016 as Chief Marketing Officer and becoming Chief Commercial Officer in 2021. An alumnus of ESSCA Business School, Perves began his career in LVMH’s fragrance and beauty division before joining Procter & Gamble’s premium products division. He later served as Global Brand Leader for Gucci Fragrances. In 2014, he transitioned into watchmaking as Head of Brand Communications for Audemars Piguet.
New World Development
New World Development (NWD) has announced the resignation of Executive Director and CEO, Adrian Cheng, just two months after assuming the role. Cheng cited personal reasons for stepping down and will also relinquish his positions as a member of the Executive Committee and Chairman of the Sustainability Committee. His successor, Echo Huang (pictured), has been appointed as the new CEO.
Additional leadership appointments, effective November 29, 2024, include:
- Gilbert Ho and Edward Lau as Executive Directors and Executive Committee Members.
- Sitt Nam-Hoi as the Chairman of the Sustainability Committee.
Echo Huang was appointed as Executive Director of New World Development in May 2020 and is currently a member of the Board’s Executive Committee. She joined the company in October 2015 as Deputy CEO of New World China Land and was promoted in February 2020 to Director and CEO of the subsidiary. Huang also serves as a director for several of the group’s affiliated companies.
With over 20 years of experience in real estate, Huang has been an advisor for major urban infrastructure, planning, and renewal projects in the Chinese Mainland, providing professional advice on property development and urban planning to local governments. Before joining New World, Huang held senior positions at an international consultancy and served as Managing Director for South China at a publicly listed real estate developer in Hong Kong, overseeing property development projects in the region. She has extensive experience in real estate development and management in the Chinese Mainland.
Gilbert Ho joined NWS Holdings Limited in January 2018 as Senior Director and became an Executive Director in July 2018. He was subsequently appointed Chief Operating Officer in February 2022 and Co-CEO in January 2024. Ho is also a Director and Co-CEO of Chow Tai Fook Enterprises Limited, the major shareholder of New World Development.
Before joining NWS, Ho held directorships and senior management roles at various publicly listed companies in Hong Kong. He previously served as Senior Investment Director for New World Development and Executive Director of New World Strategic Investment Limited, a wholly-owned subsidiary of the company. Earlier in his career, Ho was a partner at the international law firm Fried, Frank, Harris, Shriver & Jacobson LLP.
Ho currently serves as an independent non-executive director of Asia Allied Infrastructure Holdings Limited and King’s Flair International Holdings Limited, as well as a non-executive director of First Pacific Company Limited. He was formerly a non-executive director of Wai Kee Holdings Limited until June 2024. Ho holds a Bachelor of Commerce and a Bachelor of Laws degree from the University of Sydney and is a qualified solicitor and barrister in New South Wales, England, Wales, and the Australian High Court. He is also a Fellow of CPA Australia.
Edward Lau joined New World Development in June 2020 and currently serves as Chief Financial Officer. He is responsible for the group’s financial, accounting, treasury, tax, mergers and acquisitions, and investor relations functions. Lau also holds directorships in several of the group’s affiliated companies.
Before joining NWD, Lau was CFO at a property developer focused on the Greater Bay Area in the Chinese Mainland. Earlier in his career, he held senior roles at several global investment banks, specializing in equity capital markets and global credit trading.
Altuzarra
Designer brand Altuzarra has appointed its founder, Joseph Altuzarra, as CEO, effective January 1, 2025.
Altuzarra takes over from Shira Sue Carmi and will work closely with the newly appointed President, Marta Lastra, to align the brand’s creative vision with its operational strategy.
Marta Lastra was appointed President of Altuzarra in September 2024, following her tenure as Vice President of Operations. She holds a degree in Telecommunications Engineering from the University of Cantabria and an MBA in Fashion Business Management. Lastra began her career in consulting before becoming Assistant Director at Tommy Hilfiger. Three months later, she joined Loewe as Product Director, followed by a role as Product Development Director at Ralph Lauren. In 2014, she joined The Row as Accessories and Footwear Product Manager, and in 2020, she joined Altuzarra.
Joseph Altuzarra, born in Paris in 1983 to a French-Basque father and a Chinese-American mother, studied Art and Art History at Swarthmore College. Early in his career, he worked under Riccardo Tisci at Givenchy before founding his eponymous brand in New York in 2008. The label is known for luxury women’s ready-to-wear and accessories.
In 2013, Altuzarra received equity investment from Kering, the French luxury conglomerate, which acquired a 40% stake in the brand. In 2020, Altuzarra repurchased all shares from Kering, regaining full control.
In October 2024, Altuzarra secured a minority investment from retail innovation company P180, signaling a new phase of growth and innovation for the brand.
| Sources: Official press releases, Modaes, Luxe.CO archives
| Image Credit: Company websites
| Editor: LeZhi
