Richemont

Bonhams appoints ex-De Beers London CEO as new CCO

Bonhams has appointed former De Beers London CEO Celine Assimon as its new chief commercial officer. With a career in luxury and fine jewellery, Assimon brings more than 20 years of experience leading commercial strategy, client engagement, and brand development across global markets. As CEO of De Beers London, she…

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Richemont FY25 sales rise to €21.4bn

Richemont has reported a 4% increase in FY25 group sales to €21.4bn (£18.0bn) led by high single-digit increase in its jewellery maisons over the year.  However, the group’s operating profit came in at €4.5bn (£3.79bn), down by 7% at actual rates, or by 4% at constant exchange rates. Profit for…

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Richemont announces board and executive committee changes

Richemont has announced a number of changes to its board of directors and senior executive committee (SEC). Catherine Rénier, CEO of Van Cleef and Arpels, Louis Ferla, CEO of Cartier, and Marie-Aude Stocker, chief people officer (CPO) of Richemont have been appointed to the SEC. Stocker, formerly director of people,…

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Richemont’s jewellery maisons boost Q3 sales

Richemont has reported a 10% increase in its Q3 sales to €6.2bn (£5.2bn), driven by its jewellery sales which saw a 14% rise to €4.5bn (£3.80bn), adding to 71% of group sales. The group’s four jewellery maisons, Buccellati, Cartier, Van Cleef and Arpels and Vhernier’s sales growth was fuelled by…

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Richemont profits drop 17% to €2.2bn

Richemont has reported a 17% decrease in operating profits to €2.2bn (£1.82bn) for the six-month period ended 30 September 2024, reflecting the impact of the decline in sales at its specialist watchmakers, a slight gross margin erosion and ongoing investments for its maisons’ long-term growth. The group also saw a…

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Bonhams appoints Chabi Nouri as global CEO

Bonhams has appointed Chabi Nouri as global CEO of the international auction house. Nouri, who will be based in Bonhams’ headquarters in New Bond Street, London, will take up the position in October 2024 at the 14-saleroom auction house. Swiss-born Nouri has deep knowledge and experience in international luxury and…

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Richemont appoints Louis Ferla as CEO of Cartier

Richemont has announced Louis Ferla as chief executive officer of Cartier, effective 1 September 2024. Currently chief executive officer of Vacheron Constantin, Ferla will succeed Cyrille Vigneron, who has decided to retire after eight successful years at the helm of the maison. Vigneron will assume the position of chairman of…

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Richemont sales rise 3% to €20.6bn in FY 2024

Richemont has reported a 3% increase in group sales to €20.6bn (£17.6bn) in FY 2024, driven by jewellery Maisons and retail, representing 69% of group sales. However, the group’s operating profit dropped by 5% to €4.8bn (£4.11bn). Profit for the year from continuing operations, which incorporated net one-time unallocated charges…

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Richemont acquires Italian brand Vhernier

Richemont has announced that it has reached an agreement to acquire 100% of Vhernier, the distinctive Italian jewellery Maison, in a private transaction. Founded in Valenza, Italy in 1984 and headquartered in Milan, Vhernier was acquired by the Traglio family in 2001. Vhernier is renowned for the “modern” aesthetic of…

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Chaumet appoints new CEO

Chaumet has announced the appointment of Charles Leung as its new CEO effective 1 January 2024. Leung is a graduate of the Chinese University of Hong Kong and ESSEC Business School in Paris. He began his career in High Jewellery at Cartier (Richemont), working in marketing and retail. He joined…

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