LVMH's Watch Week in Milan was dominated by leadership changes, not new collections. The abrupt exit of Tag Heuer CEO Antoine Pin, citing "strategic differences," left the brand rudderless at its own showcase. This marks the seventh permanent chief executive for Tag Heuer since 2014, highlighting persistent instability.

Analysts view the shuffle as symptomatic of deeper issues. Despite being luxury's global leader, LVMH's watch division is only the fourth in the Swiss market, with a 5.8% share trailing Rolex, Swatch Group, and Richemont. The constant CEO turnover risks damaging retailer trust, a critical channel for luxury timepieces.

While leadership faltered, brands unveiled new collections. Bvlgari leaned into soaring gold prices with its Art of Gold line, while Tiffany returned to masculine designs with a platinum chronograph. Zenith confirmed it is not for sale, citing success with its 160th-anniversary pieces. The event underscored LVMH's challenge in competing at the very top of the watch industry.