On Tuesday, February 24th, 2015, Hermès announced that Laurent Dordet will become the head of their watch division, La Montre Hermès, beginning March 1st, 2015. Dordet will succeed Luc Perramond who left Hermès this month to become the president and CEO of Ralph Lauren jewelry and watches.
Dordet previously served as managing director of Hermès leather goods and saddlery division, a position he has held since 2011. He began his career working for Arthur Andersen in 1995 where he began in the luxury brand’s financial division. He has also served as the head of Hermès’ elite silk division based in Lyon, France before he became head of the precious leathers department in 2007.
While there is no doubt Dordet is certainly celebrating the news and is excited for his new position, he will certainly have his work cut out for him given the abysmal state of the European luxury goods market. Hermès actually had to lower its annual sales growth target this year to 8 percent from its traditional target of 10 percent. The luxury goods industry downturn is not alone to blame, as the brand also cited volatile currency swings as reason for slower growth this year as well.
Dordet will report to Guillame de Seynes, managing director at Hermès and president of La Montre Hermès, on March 1st. Having had success in his other roles being part of the team that helped catapult Hermés past Gucci in terms of sales last year, Dordet seems like just the man for the job to help the luxury retailer continue success even in a not so promising market. Given all his experiences, Hermés watches should continue on their path of success.