Former Cartier CEO to Take the Reins of DB LV

LVMH and De Beers are placing former Dunhill and subsequently Cartier CEO Guy Leymarie to head the luxury retailing joint venture De Beers LV.

The news comes as a surprise as current CEO Alain Lorenzo was just seeing the venture doing better after a difficult start last year. The last quarter of 2003 so a pick up in sales, with November sales were triple the average sales in the first six months of the year.

Guy Leymarie left the post at Cartier last October after being appointed the year before.

“We thank Alain Lorenzo for his key contribution to the creation of our venture. The successful opening of our first stores in London and Japan is very promising for the future of the De Beers Brand,” says Gary Ralfe, Chairman of De Beers LV.

“We welcome Guy Leymarie and are confident that he will continue to develop the De Beers brand and company to the next level with his great experience in jewelry and luxury retail.”