Delvaux: Marco Probst succeeds Jean-Marc Loubier as CEO

By

Dominique Muret

Translated by
Nicola Mira

Published
Dec 20, 2019

Marco Probst has taken charge again of Delvaux, which he previously led from 2012 to 2018. In the last year and a half, the post of CEO for the long-established Belgian luxury leather goods brand had been held by Jean-Marc Loubier. The latter is leaving Delvaux but will continue as president of First Heritage Brands, the holding company that controls Delvaux, in which he holds a minority stake.

Jean-Marc Loubier is a highly experienced luxury industry executive. He was formerly Louis Vuitton’s executive vice-president in charge of product development, communication and distribution, and also the general manager of Céline and later Escada. Ten years ago, he teamed up with two Hong Kong distribution heavyweights, the brothers Victor and William Fung, to head their European luxury-oriented investment fund, Fung Brands, which later became First Heritage Brands, in which Singapore’s sovereign fund Temasek also has a stake.

“I bought Delvaux in 2011, when it was in great difficulty. The company has now become profitable, and generates a revenue well above the €100 million mark. I took charge of [Delvaux] for a time when Marco Probst left, to accelerate its diversification in terms of products and markets, and to turn it into a global brand. I have now decided to devote myself again full-time to the role of president and shareholder of First Heritage Brands,” Loubier told FashionNetwork.com.

The new CEO of Delvaux, Marco Probst, is a well-known name in the world of luxury labels. Before a stint at Richemont-owned Chloé, he was at Hugo Boss for seven years, and held a variety of senior positions in the Netherlands, Japan and Hong Kong.

Delvaux was founded in Brussels in 1829 and was bought by First Heritage Brands in 2011. Since then, it is has greatly expanded globally, opening stores in New York, Paris, London, Rome, Milan and Hong Kong. Following the acquisition, it has multiplied its sales by a factor of 10, and now operates 45 monobrand stores worldwide.

This latest senior management change has taken place in a busy year for First Heritage Brands. In addition to buying Delvaux and footwear brand Clergerie, in 2012 the group had also acquired Sonia Rykiel, which went into judicial liquidation this summer when, after years of disappointing results and slumping sales, First Heritage Brands eventually decided to throw in the towel.
The Sonia Rykiel trademark and archives, the label’s last remaining assets, were recently bought by two of the co-founders of Showroomprivé, Eric and Michael Dayan.