Ex-CapitaLand’s Chris Chong to join LVMH as group president for South Asia and South-east Asia
The appointment will take effect from Jan 1, 2025
FRENCH luxury conglomerate LVMH has appointed Chris Chong, CapitaLand Investment’s (CLI) former chief executive officer of retail and workspace, as group president (South and South-East Asia).
The appointment will take effect from Jan 1, 2025, according to an internal memo seen by The Business Times on Wednesday (Sep 18).
In his new role, Chong will be responsible for the development of LVMH business activities in South Asia and South-east Asia, “a diverse geography representing ongoing growth and opportunity” for the group, LVMH said.
In the transition period, Chong will serve as LVMH’s executive vice-president for South and South-east Asia. He will assume this role immediately.
LVMH said Chong returns to the group bringing unique value as a result of his extensive experience in real estate and overseeing retail and commercial management platforms.
“He is recognised for having led innovative transformations of new retail malls and the turnaround of landmark properties including Raffles City and Clarke Quay in Singapore,” the group said.
Chong previously held senior internal audit roles with LVMH in Paris and Hong Kong. He became head of CapitaLand’s retail division in 2019, and, in 2021, the group’s workspace business was added to his portfolio. In August 2024, Chong announced he was stepping down from CLI.
“(Chong) will represent the group in the region, further developing external relationships with local partners and key stakeholders while supporting the development of our group brands,” said LVMH.
In his role, he will work closely with Nauman Hasan, deputy group president and group chief human resources officer for South East Asia and Oceania, to focus on people and organisational development for the region.
LVMH is Europe’s second-largest listed company, with a market capitalisation of over 301 billion euros (S$433 billion) as at Sep 18.
The luxury conglomerate has several business divisions, including wines and spirits, fashion and leather goods, perfumes and cosmetics, and watches and jewellery. Its most notable brands include Louis Vuitton, Christian Dior, Sephora and Tiffany & Co.
For the first half of 2024, LVMH recorded a net profit of 7.3 billion euros, down 14 per cent from the 8.5 billion euros in the year-ago period. Revenue stood at 41.7 billion euros, 1 per cent lower from the 42.2 billion euros recorded in the previous year.
Asia (excluding Japan) was the largest contributor by region, accounting for 30 per cent of LVMH’s H1 revenue. This was followed by the United States, which contributed 25 per cent, and Europe (excluding France), which made up 16 per cent of total revenue.
