Money makes money – and these six South Africans have made a lot of it over the years. And by a lot, we mean a LOT! For the latest financial news, bookmark The South African website’s dedicated section for free-to-read content According to Forbes’ real-time tracking of billionaires, Johann Rupert and his family are the richest in South Africa, with a … Read more
LONDON – Cartier parent Compagnie Financière Richemont held steady in the first fiscal half despite the turbulent backdrop for luxury with sales falling 1 percent to 10.1 billion euros, and profit declining to 457 million due chiefly to the sale of Yoox Net-a-porter to Mytheresa. The declines came from continued weak demand in Asia-Pacific, where … Read more
Money makes money – and these six South Africans have made a lot of it over the years. And by a lot, we mean a LOT! NOTE: This article is updated with the latest figures According to Forbes’ real-time tracking of billionaires, Johann Rupert and his family are the richest in South Africa, with a net worth of $11.9 … Read more
LONDON – Louis Ferla, currently head of Vacheron Constantin, will take over from Cyrille Vigneron as chief executive officer of Cartier, effective Sept. 1. Vigneron, 63, is retiring after eight years at the helm of Richemont’s biggest brand, and will assume the position of chairman of Cartier Culture and Philanthropy. He’ll also work with Ferla on the … Read more
LONDON — Despite slowing sales growth, Richemont is weathering luxury’s challenges better than some of its peers, with chairman Johann Rupert focusing on the long-term management of the business and looking forward to an eventual rebound in consumer confidence, especially in China. “The Chinese will return — I have full confidence. There’s nothing wrong with … Read more
LONDON – Slowing demand for luxury goods hampered Compagnie Financière’s Richemont’s growth in the fiscal fourth quarter and full year. In the fourth quarter, the watches and jewelry giant posted a 1 percent decline in sales at actual rates, and a 3 percent rise in full-year sales to 20.62 billion euros. At constant exchange, fourth-quarter sales … Read more
LONDON – Richemont has added another jeweler to its burgeoning portfolio with the acquisition of the Italian brand Vhernier. The luxury giant, parent of brands including Cartier and Van Cleef & Arpels, said Tuesday that it has acquired 100 percent of Vhernier in a private transaction. Vhernier was founded in Valenza, Italy as a goldsmith’s … Read more
Money makes money – and these six South Africans have made a lot of it over the years. And by a lot, we mean a LOT! NOTE: This article is updated daily with the latest figures According to Forbes’ real-time tracking of billionaires, Johann Rupert and his family are the richest in South Africa with a net worth of … Read more
South Africa’s luxury goods tycoon Johann Rupert and his family have taken the crown as Africa’s top billionaire after Nigeria’s Aliko Dangote lost the prime spot. According to the latest Forbes billionaire ranking, Mr Rupert and his family are currently the 201st wealthiest in the world, while Mr Dangote is the 219th. The valuation of … Read more
