LVMH has unveiled a 10-point charger pledging to “preserve and recognize specialized skills in the luxury field”.
Executives from 75 LVMH brands, home to Bulgari, TAG Heuer, Hublot and Zenith, joined CEO Bernard Arnault for a ceremony to sign the charter in June.
The aim is to protect and grow the group’s master craftsmen, or Métiers d’Excellence, with a structured plan to pass on know-how from generation to generation.
The Swiss watchmaking industry is grappling with a ticking time bomb as the most experienced technicians and designers, many of whom began work in the post-quartz crisis era of the 1970s, approach retirement.
“The success of the LVMH Group and its Maisons is anchored in the unique savoir-faire of women and men who practice Creative, Craft and Sales Experience métiers, thus ensuring the excellence of exceptional products over centuries,” the company states.
The charter was signed by all 75 LVMH Maisons.
It builds on the creation in 2014 of the Institut des Métiers d’Excellence LVMH, an initiative designed to pass on this savoir-faire to new generations.
Since then, some 1,000 young people have received training in France, Switzerland, Italy, Spain and Japan.