The Richemont Group, led by main shareholder and president Johann Rupert, is making significant changes to its management team. The group announced that Louis Ferla, who has been leading the Vacheron Constantin brand for the past seven years, will take over as head of the most important revenue and profit generator, Cartier. This change in leadership comes after Nicolas Bos was appointed as the new CEO of the entire Richemont Group in mid-May.
Rupert has made it clear that neither Cartier nor Richemont as a whole are for sale, despite rumors of interest from Bernard Arnault, the head of LVMH. With these changes in leadership at Richemont, there are vacancies that need to be filled within the organization. Catherine Rénier, the current head of Jaeger-Le Coultre, will take over at Van Cleef & Arpels following the departure of Nicolas Bos. Philippe Hermann, Chief Financial Officer at Jaeger-Le Coultre, will serve as interim CEO until a permanent replacement is found.
Under the leadership of Cyrille Vigneron, Cartier has seen significant success. The brand has focused on classic designs and marketing strategies that have appealed to a younger generation. Vigneron’s focus on attracting a younger customer base and launching new collections has contributed to the brand’s growth and success. With these changes in leadership at Richemont, there are opportunities for new ideas and strategies to be implemented that could further propel Cartier forward in the luxury goods sector.
