Story Highlight
– Joel Chabanne appointed managing director of Maurice Lacroix.
– Stéphane Waser stepped down after 12 years in role.
– Waser transformed brand from near bankruptcy to success.
– Challenges in luxury watch market persist for Maurice Lacroix.
– Chabanne brings extensive experience from DKSH and Cartier.
Full Story
Joel Chabanne has been appointed as the new managing director of Maurice Lacroix, succeeding Stéphane Waser, who departed from the role in July after a 12-year tenure and 18 years with the company.
In a recent social media announcement, Mr. Waser expressed, “it is time to prepare for a new chapter,” marking the end of his impactful leadership.
Under Mr. Waser’s guidance, Maurice Lacroix transformed from a near-bankrupt entity into a prominent competitor in the affordable luxury sports watch sector, a fact he reflected on during an interview with Le Temps. The brand was notably recognized in the 2019 Morgan Stanley/LuxeConsult report, which listed it among the top 50 brands in the Swiss watch industry, where it reported annual sales of around CHF 40 million.
The last few years have posed challenges for watchmakers, particularly in Maurice Lacroix’s focus price range of $1,000 to $3,000. However, Mr. Waser remained optimistic about upcoming trends, as he discussed in his final interview. He noted, “In the coming year, I’m most excited about how the luxury watch world is evolving around three key trends. First, sustainability will become a real expectation, with consumers looking for responsible materials and transparent practices. Second, design will focus more on wearability and versatility — think mid-size cases and unisex styles that fit seamlessly into different lifestyles. Finally, storytelling and exclusivity will grow in importance, as both collectors and new buyers seek watches that feel personal, unique, and connected to heritage. At Maurice Lacroix, we’re embracing these changes while staying firmly rooted in our Swiss craftsmanship and identity,” he shared with Odalisque in February.
Chabanne’s initial tasks as managing director will involve implementing strategies and product launches devised by his predecessor. A spokesperson for Maurice Lacroix highlighted the importance of continuity, stating, “Maurice Lacroix looks forward to the continuity in leadership that he will provide with his experience and expertise.”
Prior to this role, Mr. Chabanne served as the general manager for DKSH in Guam over the past three years. DKSH, a Swiss-based market expansion services company, has been the majority owner of Maurice Lacroix since 2011. His background also includes 11 years at Cartier, where he held roles as general manager in Guam and commercial director in Hong Kong.
