Rupert has come under fire from a Swiss newspaper for getting an early vaccine from a clinic in which one of his companies has a financial interest.
Richemont’s chairman said the China-focused, global partnership with Farfetch and Alibaba will help smaller luxury players “fight giants like Amazon,” and give fashion and accessories brands greater access to a market with explosive growth.
In May, Johann Rupert said he wanted to compensate shareholders after slashing last year’s dividend, and thank them for sticking with the company through COVID-19, and beyond.
In its newly published Sustainability Report 2020, the parent of Cartier has laid out short-, medium- and long-term environmental goals, and is looking to strengthen its relationship with staff and suppliers.
High-end watch sales may be down, but they’re not out, thanks to flush local customers and brands’ wholehearted embrace of e-commerce.
Having just inked a deal with Richemont, Alber Elbaz is looking at fashion, luxury and the act of making and dressing in a new light.
According to well-placed sources, Vallat is returning to his former company Rémy Martin.
In fiscal 2018-19 Cartier’s parent Richemont reported a 27 percent uptick in sales and a 128 percent rise in profit, due chiefly to a one-off accounting gain.
Sales climbed 22 percent to 5.67 billion euros, with Yoox Net-a-porter, Watchfinder now in the mix.
The big groups are buying factories, courting artisans and pumping up their accessories offers.
The Asia Pacific region delivered double-digit growth in the 12 months.