Watch from the Star Sea collection by Zenith

Thierry Nataf, CEO of the horology brand Zenith for the LVMH group, will be leaving his post.

After having joined the business in 2001, he must quit his position by the end of the month and will not be redeployed within the group.

This announcement comes as the leading horologer for the global leader in luxury goods suffers from current circumstances; its sales have plunged 41% in the first quarter.

LVMH has launched a savings plan, which translates to the cutting of twenty four jobs at Zenith – some 10% of its staff. Bought in 2000 by the Bernard Arnault group, this Swiss horology group is a “pure luxury” brand, with prices ranging from €4,000 to €500,0000.

Les Echos