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
