The First Families of Watchmaking: New Blood, New Ideas
Arnault, Biver, Dufour, Hayek, Mille, Scheufele… We all know the family names. But how did they become the first families of watchmaking? Today, we bring you part one of a two-part series trying to answer that question. Hint: A talented next-generation is super important.
By Roberta Naas
Special Correspondent
For centuries, nepotism has been a fixture in almost all professions, from dynastic family empires to global business empires and more, where the mantra of “keeping it in the family” has shaped leadership for generations. Nowhere is this more evident than in the world of luxury watchmaking, where the tradition of passing the baton to the next generation remains strong.
While some argue this poses a potential risk to innovation, others view it as a vital way to inject fresh ideas and forward-thinking energy into legacy brands, ensuring that these storied brands remain relevant in the 21st century and beyond.
Take, for example, the Arnault dynasty: The family’s ability to blend time-honored tradition with new perspectives has been crucial in steering LVMH’s brands toward continued success (more on that in a bit).
Of course, big-name families aren’t the only ones to embrace the concept of merging old and new as a catalyst for groundbreaking advancements. Family-owned, independent brands also increasingly recognize the value of new blood (but more on that in part two of this series, which focuses on indie brands).
In this piece, we offer an in-depth look at some of the big brands/groups and their next-generation leaders who are driving innovation and shaping the future of watchmaking.
The Arnault Family (LVMH)
One of the richest men in the world, Bernard Arnault, Chairman and CEO of LVMH Moet Hennessy Louis Vuitton, has a net worth, according to Forbes, of $173.5 billion – the result of a lifetime of achievements, including building an empire of 75 luxury brands in the conglomerate he co-founded in the 1980’s and that includes watches, jewelry, fashion, and more.
As most of you know, LVMH already owns some of the world’s most popular watch brands (TAG Heuer, Hublot, Bulgari, Zenith, and Louis Vuitton). What you may not know (or have forgotten) is that LVMH also acquired Tiffany & Co. in 2021 for $15.8 billion – one of the largest (if not the largest) luxury brand acquisitions in history.
Then there are Arnault’s five children (four sons and a daughter), all of whom work at LVMH in different capacities.
Delphine Arnault, 49, joined the company in 2000 as development director of John Galliano. She has moved around within the group ever since, with her most recent appointment (January 2023) making her the CEO of Christian Dior.
Antoine Arnault, 47, joined the company in 2005 and is currently the chairman of Loro Piana as well as head of communication at LVMH. Alexandre, 32, started at LVMH with Rimowa but moved to Tiffany & Co. in January 2021, becoming the newly acquired Maison’s executive vice president of product and communications.
The two youngest sons are the most closely associated with the watch world. First, Frédéric, 28, was one of the youngest CEO’s ever when he took over at TAG Heuer in 2020. Then, in April of this year, he joined the LVMH board, and became CEO of LVMH’s watch division.
And finally, Jean Arnault, 25, joined the Louis Vuitton brand in 2021 as director of marketing and development in the watch division. Then, in June 2023, shortly after being made the director of watches at Louis Vuitton, Jean gutted the brand’s watch catalog, retiring 130 timepieces, and made several operational changes, including raising prices.
It was a risky move, to be sure, but Jean’s gambit looks to have paid off, as Louis Vuitton watches are now spoken about with a level of respect the brand had spent years chasing.
The Hayek Family (Swatch Group)
There is no glossing over the fact that the Hayek family runs one of the most important groups in watchmaking, with individual family members heading up the overall conglomerate and several of its top-tier brands. It was Nicolas Hayek Sr. who started what is today known as the Swatch Group decades ago.
The Swatch Group was part of Hayek’s incredible efforts to save the Swiss watch industry during the Quartz Crisis – when Japanese quartz-powered watches nearly decimated the unprepared Swiss industry. But that is an entire story in and of itself and best left for another time.
However, with a re-alignment of the Swiss industry in the 1990s, Hayek brought many brands together and eventually purchased several key companies, including OMEGA, Longines, and movement maker ETA.
Today, the Swatch Group owns and operates brands like Harry Winston, Breguet, Blancpain, OMEGA, Longines, Hamilton, Rado, Tissot, Swatch, Flik Flak, and others. Owned by institutional investors, public companies, and individual investors, more than half of the Swatch Group is owned by the Estate of Nicolas Hayek Sr.
Fun Fact: In July 2024, the Hayek family continued to buy shares in the Swatch Watch Group, purchasing shares of more than $22 million in one day (and even more the following day).
At the helm of the group and with prominent positions on the Board of Directors: CEO Nick Hayek Jr. (Nicolas Hayek Sr.’s son); group chairwoman Nayla Hayek (Sr.’s daughter, she also runs Harry Winston); and Nayla Hayek’s son Marc, who is also instrumental in the group and avidly steers the Blancpain brand.
The Grinberg Family (Movado Group)
First established by Gedalio (Jerry) Grinberg as North American Watch Corp. after he fled Cuba for America with his family in the early 1960s, the Movado Group was a distribution arm for a host of brands that included Concord, Ebel, and even Piaget (now owned by Richemont).
Over the years, Grinberg also acquired brands and manufacturing licenses and ran the watch divisions of well-known fashion houses, such as Hugo Boss. It was his drive and determination, as well as his innovative marketing strategies, that grew the company that is today known as the Movado Group.
In 1983, North American Watch Corporation bought the Movado brand. However, it wasn’t until 1996 that North American Watch Corp. officially adopted the name Movado Group, Inc. By the late 1990s and into the 2000s, the company built its reputation on licenses with Coach, Tommy Hilfiger, Lacoste, and Calvin Klein and acquired Ebel watches.
Today, the publicly traded company (MOV on the NASDAQ) owns Movado, Olivia Burton, Ebel, and MVMT watch brands.
Jerry’s son Efraim grew up in the watch world and joined the company as a teenager, learning from the ground up as he worked his way through many jobs. In 1990, he took over as President and COO of the group. Today, he is Chairman and CEO of the Movado Group.
Last but not least, Grinberg’s daughter, Margot, also grew up in the industry and has been President of the Movado Brand since 2023.
Stay tuned for part two of our series covering the first families of watchmaking, which will focus on the independent brands and their next-gen influences. Here is a preview…
Chopard (The Scheufele Family)
Family-owned Chopard has an interesting background, and it all started in 1860 when the 24-year-old Louis-Ulysse Chopard founded a watch manufacture specializing in chronometers and pocket watches. Seventeen years later, in 1877, Karl Scheufele I was born.
After losing his parents at the age of 11, young Karl I was placed in an orphanage in Pforzheim, Germany, where he learned the trades of watchmaking and goldsmithing. Then, in 1904, he began his own eponymous company making pendants, bracelets, brooches, and more.
Over the ensuing decades, both companies grew and expanded without any interaction with one another. In 1941, Karl Scheufele II (Karl I’s son) took over the company. When he retired in 1958, he entrusted the company to his 20-year-old son Karl Scheufele III, who was also a goldsmith and watchmaker.
Then, in 1963, Karl III was determined to buy a Swiss watch manufacture, so he traveled to Geneva. While there, he met Paul-André Chopard (grandson of Louis-Ulysse) and struck a deal to acquire the Chopard watch company. Karl III and his wife, Karin, immediately got to work, expanding the brand’s product line and enhancing its reputation.
By 1980, Karin and Karl Scheufele III’s 22-year-old son, Karl-Friedrich, who had already joined the family business, designed the stainless steel St. Moritz collection (the forerunner to the brand’s current Alpine Eagle collection).
Then, in 1985, Karl-Friedrich’s sister, Caroline, designed Chopard’s first jewelry collection, the Happy Clown (which also became the Maison’s mascot).
By the 1990s, this dynamic sister-brother duo (along with their parents) were opening the Chopard Manufacture in Fleurier, officially partnering with the Cannes International Film Festival, and so much more.
Today, the family-owned Maison is a leader in the world of watches and jewelry, pioneering in ethical gold and transparent sourcing, as well as leading the way with new and innovative watches and jewelry. Additionally, a fifth generation of Scheufele’s are making their mark on the company.
Of course, now Karl-Friedrich Scheufele’s children, Caroline-Marie (29) and Karl-Fritz (27), are getting their education within the family business.
Caroline-Marie Scheufele joined the family business in 2020, focusing on finance and HR. However, the Scheufele passion for design could not be denied. Currently, she is working in product development, allowing her to merge her love for exquisite craftsmanship with her professional skills, including gemology.
Karl-Fritz, on the other hand, has developed a background in luxury brand management, hospitality, and entrepreneurship. Actively involved in the 2019 launch of the Alpine Eagle collection with his father and grandfather, Karl-Fritz has worked to expand the company’s wine and spirits import and distribution division, and he assisted with the opening of the brand’s first hotel: 1 Place Vendôme in Paris last year.
Most recently, in 2024, Karl-Fritz completed a master’s in management and digital Transformation from ESCP Business School in Paris, enhancing his capabilities in integrating traditional management with digital innovation – skills he brings to the Chopard brand.
Thank you for reading, and again, stay tuned to Watchonista for part two!