LVMH-Backed L Catterton Agrees to Buy Majority Stake in Kiko
The private equity fund has entered into a definitive deal with the Percassi family, which will retain a “significant stake” in the business.
Bernard Fornas
Inside Richemont’s Leadership Crisis
An unconventional management structure, combined with serious ongoing business challenges, has upset senior ranks at the Swiss luxury conglomerate.
Dusting Off Cartier on Fifth Avenue and Beyond
Cartier chief executive Cyrille Vigneron discusses his vision for the world-famous jeweller, starting with the re-opening of its historic New York mansion.
Richemont Sees Challenging Market After April Sales Plunge
Richemont, the maker of Cartier jewelry and IWC Schaffhausen timepieces, forecast a difficult first half after sales plunged 18 percent in April.
Power Moves | Justin O'Shea to Brioni, Richemont Co-CEO Retires, Nike Hires Dave Dombrow
LONDON, United Kingdom — BoF compiles the most important professional moves of the week.
Richemont Co-CEO Fornas to Retire as Cartier Cuts Jobs
Richemont's co-chief executive officer Bernard Fornas will retire as the jewellery maker is in the midst of a job-cut plan at its top watchmaking brands, including Cartier, Vacheron Constantin and Piaget.
Richemont CEOs Are Top-Paid Europe Executives After VW Boss
Richemont co-chief executive officers Richard Lepeu and Bernard Fornas are catching up with Volkswagen AG’s Martin Winterkorn as the top-paid executives in Europe, according to a study by HKP.
Richemont Chairman Takes a Break to See Who's The (Next) Boss
ZURICH, Switzerland — Richemont boss Johann Rupert has promised to switch off his phone when he takes a break from the company in September.
Fabrizio Cardinali Appointed Dunhill CEO, as Change Continues at Richemont
LONDON, United Kingdom — Fabrizio Cardinali will take over from Eraldo Poletto as CEO of Dunhill on June 1. Prior to his appointment, Cardinali was
Is Fashion Just an Accessory at Richemont?
ZURICH, Switzerland — For luxury-goods maker Richemont, clothing and bags are going out of fashion. While Richemont last week reported a 30 percent
Richemont Chairman to Take Year Off as Growth Picks Up
ZURICH, Switzerland — Richemont 's chairman and founder Johann Rupert is to take a year off from September, leaving management of the world's
Market Pulse | Reassurance
LONDON, United Kingdom — The Savigny Luxury Index ('SLI') increased by almost 3 percent in November, while the MSCI World Index ('MSCI') slipped
Company Snapshot
As one of the most esteemed executives in the industry, he oversaw Richemont's fashion portfolio of Chloé, Alaïa and Dunhill.
The News in Brief
Zara Re-Enters Venezuelan Market
The company confirmed in January that it planned to restart activities in Venezuela in the first half of 2024 with local partner Grupo Futura.
EU Hits Fast-Fashion Giant Shein With New Digital Rules
The move means Shein could be liable for fines of as much as 6 percent of global revenue for violating the law, designed to curtail the spread of illegal content online.
Shares of Versace Owner Capri Seen Falling 30% If Deal With Coach Owner Tapestry Fails
Since the merger announcement, Capri has reported weaker-than-forecast earnings twice, spurring concern about its performance in the coming quarters.
Celine Adds To Fragrance Line-Up
The new scent, Zouzou, is the fashion house’s first new perfume since 2022.
Unilever Sales Rise More Than Expected, Led by Beauty
Unilever Plc sales jumped more than expected in the first quarter as Chief Executive Officer Hein Schumacher pushes ahead with his turnaround plan and shoppers come back to premium brands.
Biden Signs Possible TikTok Ban Into Law; ByteDance Vows Legal Challenge
President Biden signed the bill that gives China-based ByteDance 270 days to divest TikTok’s US assets or face a ban.
Google Postpones Phasing Out of Ad Cookies in Chrome Browser
The Alphabet Inc. company said in a blog post Tuesday that it’s still working with the ad industry and regulators on the plan.