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Lars Peter Jung-Larsen joins Georg Jensen as President of Global Sales |
DENMARK. Luxury goods company Georg Jensen has announced the appointment of Lars Peter Jung-Larsen as President of Global Sales responsible for all distribution channels globally, effective 1 March.
Jung-Larsen worked for more than 15 years at Hugo Boss, starting out at its German headquarters in 1991 as Key Account Manager International Sales. In 1994 he moved to Hong Kong to set up the company’s Asian operation and was Managing Director of Hugo Boss Hong Kong until 2009.
He then set up FirstRow Ltd, his own consulting company, to help Asian fashion companies set global strategies and Western fashion companies move into China. In 2010 Jung-Larsen joined the Swiss Gaydoul Group (Hanhart, Fogal, Navyboot, Jetset) as Managing Director Asia before joining Georg Jensen.
Jung-Larsen, 44, studied at the Danish School of International Marketing & Exports in Copenhagen, Universität der Wirtschaft, Erfstadt, Germany, and has an MBA from the University of Western Ontario – Richard Ivey School of Business.
Georg Jensen President & CEO Ulrik Garde Due commented: “2011 was a historic turning point for Georg Jensen. For the first time in years, we managed to break into the black whilst creating a financially healthy and viable cost base. Whilst continuing to simplify, standardise and streamline our structure and processes internally, we need to focus on growing our top line.
“Lars Peter Jung-Larsen brings to Georg Jensen almost two decades of experience and in-depth knowledge from within the global luxury fashion business and will ensure the strengthening of our front-end business.”
Jung-Larsen will continue to be based in Hong Kong with his family. His presence in one of the most important regions for Georg Jensen is a huge benefit and will shorten the distance from Georg Jensen HQ to the markets, the company said.
“We want to continue our successful entry strategies for emerging markets in Asia, the Middle East and Eastern Europe and to build up a substantial franchise business there. China is, of course, our main target,” said Jung-Larsen.
“Our strategy in China is to develop the country with Shanghai as our starting point in high-quality malls, reinforcing our global position as a luxury brand. In 2010 we started this roll-out with two Shanghai Georg Jensen stores, and in 2011 we are expanding this network with another six stores.
“Another area is the global travel retail market in major airports and downtown locations, which is currently untapped and offers another huge opportunity for us. Our product range and shop concept are ideal for this industry.”
He added: “It’s a very exciting opportunity for me to work with Danish luxury lifestyle brand Georg Jensen with its excellent products that are full of tradition and heritage. Founded in 1904, the company is still a market leader in its segment. Our focus will be on gaining market share in existing markets by expanding our distribution channels. In many countries close to Denmark, such as Germany, Holland and the UK, we see large growth potential in the expansion of our existing distribution into new market segments. The same goes for North America.”
About Georg Jensen
As the leading Scandinavian luxury lifestyle brand, Georg Jensen represents business in three segments: at its headquarters, 40 silversmiths have been handcrafting signature hollowware and silver for more than 100 years. The company also has an extensive in-house jewellery and watch business with more than 100 Georg Jensen stores and shop-in-shops worldwide. In addition, Georg Jensen has a contemporary living business, with home products being distributed in Georg Jensen luxury lifestyle concept stores and through a wholesale distribution network.
