COMPAGNIE FINANCIERE RICHEMONT

CFR

CH0210483332

Apparel & Accessories

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Richemont Reshuffles Senior Executive Committee

Published on 02/14/2025 at 12:11 pm IST - Modified on 02/14/2025 at 12:12 pm IST

Dow Jones

COMPAGNIE FINANCIERE RICHEMONT

+3.53%

By Andrea Figueras

Swiss jeweler and watchmaker Richemont said it has appointed three executives, including the bosses of its flagship brands, to its senior executive committee.

Catherine Renier, chief executive officer of Van Cleef & Arpels, Louis Ferla, CEO of Cartier, and Marie-Aude Stocker, group chief people officer of Richemont, will join the committee, effective immediately, Richemont said Friday.

In July last year, the company reshuffled its core jewelry division, shortly after it tapped Nicolas Bos to replace Jerome Lambert as group CEO.

Lambert, who was appointed CEO of Jaeger-LeCoultre, will step down from the committee.

Boet Brinkgreve, CEO of Laboratoire de Haute Parfumerie et Beaute will be leaving the company at the end of April.

The changes come as Richemont has proven the resilience of its jewelry brands in the midst of a wider downturn in demand for luxuries. The jewelry division reported growth for its fiscal third quarter and showed positive signs in the U.S.

Write to Andrea Figueras at andrea.figueras@wsj.com

(END) Dow Jones Newswires

02-14-25 0141ET

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Chart COMPAGNIE FINANCIERE RICHEMONT

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Company Profile

Compagnie Financière Richemont SA is a world leader in luxury products. Net sales break down by family of products as follows: - jewelry items (71.6%): the brands Cartier (world No. 1 in jewelry), Van Cleef & Arpels, and Giampiero Bodino; - luxury watches (15.4%): Piaget, A. Lange & Söhne, Jaeger-LeCoultre, Vacheron Constantin, Officine Panerai, IWC Schaffhausen, Baume & Mercier and Roger Dubuis brands; - other (13%): primarily pens, fine leather goods articles and clothing under the following brands: Montblanc, Chloé, Old England, Purdey, and Alfred Dunhill. Net sales break down by activity between retail distribution (70.3%), wholesale distribution (23.4%) and online distribution (6.3%). Net sales are distributed geographically as follows: Switzerland (3.2%), the United Kingdom (3.8%), Europe (15.9%), China (19.6%), Japan (10.2%), Asia (13.8%), the United States (21%), Americas (3.5%), Middle East and Africa (9%).

Employees

38,896

Sector

Apparel & Accessories

Calendar

22/05 - Earnings release - Annual 2026

More about the company