Chaumet: The Challenges of Growth and Leadership in High-End Jewellery

What is the secret of longevity of a high-end Parisian jewellery company nearly 250 years old as it faces a major sea change in consumer preferences? Marie-Étienne Nitot (1750–1809) founded Chaumet in 1780 as a jeweller to the French aristocracy. It went on to provide most of the precious pieces for Napoleon I and jewels for the wife of Napoleon III. Today, under the ownership of LVMH, it is striving to build a fresh awareness and audience rather than imposing its historical legacy. Sales of Chaumet jewellery in Asia – long the fastest growing region – are being undermined by powerful external pressures on lifestyles. Can the brand survive the uncertainty of a less predictable and disordered world order, under new leader Charles Leung?

This case can be taught on many levels, from MBA participants taking courses in leadership, to Master’s degree students of the creative industries. It narrates the history of a high-end French jewellery house, exploring its cultivation of a base of customers that have gone through major profile changes in the previous two centuries of luxury consumption. It considers Chaumet’s leadership transformation, from a longstanding family-owned atelier to a modern organization under the governance of a luxury conglomerate, allowing for discussion about the future of luxury in a period of uncertainty.