Richemont
Coverage of Richemont in the Nexus archive.
- Luxury stocks rally on Richemont sales beat — but the sector still needs China, says analyst
Richemont, the luxury company that owns Cartier, reported a 20% year-on-year sales increase, boosting its stock. An analyst noted the sector still relies heavily on China despite the positive sales performance.
- Richemont Sells Baume & Mercier to Italy After 38 Years
Richemont completed the sale of Baume & Mercier to Italy's Damiani Group on July 1, shifting focus to Cartier and Van Cleef & Arpels. The 196-year-old brand was sold after 38 years under Richemont's ownership.
- Richemont’s Record Year Can’t Shake Its China Risk
Richemont achieved a record €22.4 billion annual revenue, but faces ongoing risks from a shifting Chinese market and competition from Laopu Gold, according to the article. The company's reliance on China remains a key vulnerability for Johann Rupert.
- Johann Rupert Hits $20 Billion, Africa’s Second After Dangote
Johann Rupert has reached a $20 billion net worth on the Bloomberg index, becoming Africa's second-richest person after Aliko Dangote, driven by his stakes in Richemont and Mediclinic.