LONDON, United Kingdom — Fabrizio Cardinali will takeover from Eraldo Poletto as CEO of Dunhill on June 1. Prior to his appointment Cardinali was CEO of Lancel, which he joined from Dolce and Gabbana.
ZURICH, Switzerland — While Richemont last week reported a 30 percent gain in annual profit as shoppers spent more on its Cartier jewelry and IWC watches, leather goods and fashion brands such as Lancel and Chloé have struggled. Earnings at Richemont’s so-called soft luxury unit fell by more than half in the last fiscal year.
LONDON, United Kingdom — Martha 'Marty' Wikstrom, chief executive of fashion and accessories at Compagnie Financière Richemont, has resigned from her post, the luxury group announced today. Richemont is the Swiss parent company of fashion, jewellery and watchmaking companies including Dunhill, Chloé, Cartier and Piaget.
PARIS, France — Growth in sales of luxury goods is expected to ease slightly this year, hit by subdued spending in Europe and slower growth in China, consultancy Bain & Co said in a study on Thursday.
ZURICH, Switzerland — Richemont's chairman and founder Johann Rupert is to take a year off from September, leaving management of the world's second-largest luxury goods group in the hands of a recently-named joint chief executive team.