Chabi Nouri, CEO of Richmont-owned Piaget from 2017 to 2021, is set to join Geneva-based asset manager Mirabaud.
Nouri will work alongside David Wertheimer (son of Chanel co-owner Gérard Wertheimer) as co-manager of Mirabaud’s “lifestyle impact and innovation” unit, whose current investments include MycoWorks, a fast-growing supplier of mushroom-based leather substitutes, and streetwear publication Highsnobiety, as well as lab-grown gemstone-maker Diam Concept and refillable lipstick brand La Bouche Rouge.
Nouri will work with those holdings to “create value and growth and unleash their full potential” while also helping to identify future investments in companies “revolutionising” the lifestyle sector, Mirabaud said in a statement.
Renaud Dutreil, the former French minister and previous LVMH Americas CEO, will continue to help oversee the portfolio as Mirabaud’s head of private equity.
This year, Ralph Lauren and Lululemon have joined the likes of H&M Group, Kering and Chanel in pouring money into innovations that could reduce the industry’s environmental impact.