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The Latest Breaking News from Richemont

Cartier-Maker Richemont's Johann Rupert Says Tariff 'Misunderstanding' Near Fix, As Switzerland Reportedly Nears Trade Deal With US

Johann Rupert, the chairman of luxury group Richemont, has expressed optimism about the swift resolution of the tariffs imposed by the U.S. on Swiss exports.

Benzinga

Swiss watchmaker stocks rally as Trump dangles relief from steep 39% US tariff

The president’s late-Monday remarks lifted sentiment, with Switzerland’s top watch groups gaining as September exports to the US fell 55.6% year on year.

Euronews

Switzerland scrambles to ink trade deal with US amid certain 'economic blow' due to tariffs

The tariffs, which come into effect on Thursday, are estimated to affect around 60% of Swiss exports to the United States, its largest market for its exports of pharmaceuticals, watches, machinery and chocolate.

Euronews

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Jérôme Lambert took an unlikely career step down from Richemont CEO to leading one of its 29 brands. He said he just wanted to return to ‘the job I love’

Jérôme Lambert went from being Richemont Group’s CEO to its COO, and then CEO of its Jaeger-LeCoultre maison—all in a span of six months.

Fortune

What Bernard Arnault's optimism for the U.S. could mean for LVMH's position under 'tariff man' Trump

"It's clear that we are being strongly pushed by the American authorities to continue to build out our presence," Bernard Arnault told reporters.

Fortune

Burberry’s pivot back to its roots is working as shares jump 15% following better-than-expected sales

Burberry is turning to its forte and "offering a range of products to attract a broad base of luxury customers," CFO Kate Ferry said.

Fortune

LVMH dethrones Novo Nordisk as Europe's most valuable company

Novo Nordisk has faced a massive selloff in recent months amid disappointing drug trials and U.S. pressure to cut its prices.

Fortune

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Overdone price hikes, the demise of ‘quiet luxury,’ and sluggish European tourism—here's what Bank of America expects will shape luxury in 2025

“We think that like the game of snakes and ladders, 2025 will see many ups and downs for the luxury sector,” Bank of America analysts said.

Fortune

Luxury stocks rally globally amid signs of recovery in demand

Watches of Switzerland and Burberry’s share prices climbed after Cartier-owner Richemont posted booming sales.

Evening Standard

Cartier owner Richemont shines with better-than-expected sales as poor China demand offset by rest of the world

Despite weakness in China, "Richemont has never been stronger," investment firm Vontobel's analyst said.

Fortune

Exclusive: Luxury house Richemont will automate a part of its hiring process across brands like Cartier and Van Cleef & Arpels

Richemont will partner with California-based Veritone to use AI to sift through scores of candidates looking to be hired by the company.

Fortune

Jay Monahan And Yasir Al-Rumayyan Paired Together At Alfred Dunhill Links Championship

The PGA Tour commissioner and PIF governor have been paired together in the DP World Tour's Alfred Dunhill Links Championship

Golf Monthly

Why Are So Many LIV Golfers Allowed To Play At The Alfred Dunhill Links Championship?

14 players who regularly ply their trade on the PIF-funded circuit are due to be in action in Scotland on the DP World Tour this week

Golf Monthly

Shares in LVMH and Kering down as shoppers rein in luxury spending

Shares down 4.4% on Wednesday as demand for fashion, watches, leather goods, perfumes and cosmetics slows

The Guardian - UK

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International Business Times

Richemont: Luxury Group In Sights Of LVMH'S Arnault?

The Swiss luxury group Richemont, which owns Cartier and other jewellery brands, is regularly the subject of takeover rumours which its founder, the South African billionaire Johann Rupert, always dismisses.

International Business Times

Cartier-owner Richemont Says China Sales Tumble 27%

Cartier-owner Richemont said Tuesday its quarterly sales in China tumbled by 27 percent as the deepening economic malaise in the world's second-largest economy lashes luxury firms.

Fortune

LVMH and Kering felt the pinch in 2023—but a new type of luxury is gaining a share of consumers' wallets

“What we’ve observed in 2023 is a rebalancing of customer appetite," Bain expert says of the luxury industry.

Fortune

Prices of high-end Rolex and Patek Philippe watches hit a 2-year low as luxury slump spreads beyond LVMH and Gucci

Pre-owned luxury watches saw a surge in demand during COVID-19—but there's been a sharp reversal since.

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Fortune

Cartier owner Richemont sales disappoint as economic pressures start to pinch even the rich

Luxury giants including Richemont and LVMH are seeing a slump in sales after a high-end spending boom during the COVID-19 pandemic.

Evening Standard

Luxury boom winds down as growth slows at Cartier and Vacheron owner Richemont

Even higher-end customers are starting to “feel the squeeze”, one commentator said

Evening Standard

Everything you need to know about Chloé’s new creative director, Chemena Kamali

The Chloé appointment makes Kamali one of very few female designers currently leading a luxury fashion house

Fortune

European luxury stocks may not have shaken off the impact of economic pressures just yet as a key index that tracks the top 10 luxury stocks declined the most in a quarter since 2020

The luxury stock index, which includes LVMH, Ferrari and Richemont, is under pressure due to tighter consumer spending globally—especially in China.

The Independent UK

Cartier's use of images of Amazon tribe prompts Indigenous advocates to allege hypocrisy

Until two months ago, Cartier’s website showed Indigenous children playing in a field of tall, green grass

Daily Mirror

Black worker snubbed by colleagues at Cartier and Montblanc company wins race case

Colleagues at the luxury firm where Cheryl Spragg worked refused to get in a lift with her and she was told there was a “preference for white continental Europeans" for a job she applied for

StockNews.com

4 Stocks Hedge Funds Are Selling Right Now

The Federal Reserve’s hawkish stance is expected to keep the markets volatile and might significantly affect the interest-rate-sensitive tech industry. Amid the uncertain market environment, hedge funds have been selling shares of Shopify (SHOP), Nu Holdings (NU), Snap (SNAP), and Farfetch (FTCH). Given these companies' weak financials and bleak growth…

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