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Evening Standard

Business

Mark Banham

IWC and Jaeger-LeCoultre owner Richemont says Gen Z and millennials are getting into luxury watches

Richemont IWC Luxury Millennials Cartier Montblanc Johann Rupert Lewis Hamilton

Formula 1 champion Lewis Hamilton is a brand ambassador for IWC Schaffhausen watches
(Picture: IWC Schaffhausen)

Sales and profits have jumped at luxury group Richemont as millennials and Gen-Z get into high-end watches.

Chairman Johann Rupert noted the “increased appeal of high-quality watches” to both demographics in the Swiss group’s annual results, saying it was a “positive trend” for the future. Richemont owns luxury watch brands such as Jaeger-LeCoultre and IWC, advertised by Formula 1 star Lewis Hamilton.

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