With a special interest in Cartier, the French luxury group LVMH led by Bernard Arnault is now targeting Richemont, the Swiss luxury goods holding company.
As assured by the Swiss newspaper Finanz und Wirtschaft, LVMH would like to strengthen the position of Tiffany & Co with this possible purchase. With Cartier, the group would dominate the high-end jewelry segment.
Richemont was founded in 1988 by South African entrepreneur Anton Rupert. After his death in 2006, it was his son Johann Rupert who manages the family fortune and is opposed to ceding control of the company so far. “Our board may be slower and more conservative than others. But its openness and collegiality are precisely its advantage. I am not going to let myself be blackmailed,” were his words in an interview.
The Swiss group is currently ranked fourth among the world’s largest luxury companies by market capitalization, whose main companies include Cartier, Chloé, Piaget, IWC, Montblanc, Jaeger-LeCoultre, YOOX, Vacheron Constantin, and Van Cleef & Arpels.
Don’t miss any details about this news in the coming months on Highxtar.
In other news, Louise Trotter is the new creative director of Carven.
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