Richemont profit misses estimates as online acquisitions weigh

2019-05-17 09:10

Richemont reported full-year operating profit that trailed analysts’ estimates as the company consolidated its acquisitions of online platforms YNAP and Watchfinder.

How Johann Rupert's charm offensive backfired

2018-12-06 15:17

Johann Rupert's interview seems to have been an attempt to speak directly to a demographic that he feels has misunderstood him. But it went horribly wrong.

Lunchtime Wrap: Stocks fall on oil, China concerns; dollar gains

2018-11-09 14:32

US equity-index futures fell for a second day as crude oil’s slide into a bear market and concerns over the health of China’s economy weighed on global stocks.

Radical economic transformation and the return of Johann Rupert

2018-11-02 07:00

His vilification as the embodiment of "white monopoly capital" has Johann Rupert disillusioned about South Africa. But President Cyril Ramaphosa's call to treat entrepreneur as "heroes" might entice him to lend a hand.

Naspers leads losses on the blue-chip index

2018-10-10 18:24

The bearish sentiment in Tencent has not spared Naspers on the JSE which is also under a sharp sell-off. In today’s session Naspers slumped 6.47% to close at R2656.98 per share.

Richemont buys watch firm, sells luxury leather goods company

2018-06-04 14:59

Swiss-based luxury goods group Richemont is adding UK retailer Watchfinder to its portfolio, but has sold French luxury leather goods company Lancel.

Richemont wraps up YNAP takeover, online retailer to delist

2018-05-17 12:59

Richemont has exceeded the minimum capital requirements for YNAP, and the online retailer will delist as Richemont completes its takeover.

Richemont bids R40bn to expand stake in Italian online retailer

2018-01-22 14:46

Swiss luxury goods company Richemont, owned by Johann Rupert, plans to increase its stake in an Italian e-retailer.

Richemont profit surges but full-year growth likely 'less exceptional'

2017-11-17 12:55

Luxury goods holding company Richemont has reported 80% growth of its bottom line for the half year, but chair Johann Rupert says growth for the year will not be as “exceptional”.

Richemont's hippie-chic Chloe bags sell as watches struggle

2017-07-21 18:05

$10 000 watches are a tough sell for Richemont these days, but shoppers are snapping up $2 000 Marcie handbags from the company’s fashion and leather label Chloe.


White monopoly capital according to Johann Rupert

2018-12-06 19:44

"What does white monopoly capital mean?" Rupert said, after Mkhari introduced him as the face of the concept. "Yes, I’m white, or I mean a white person. Show me a monopoly we have ever had, show me one monopoly I have ever had, just one, please."

Black Business Council to Rupert: 'We expect leaders to be considerate'

2018-12-05 21:00

The Black Business Council has hit back at remarks made by billionaire Johann Rupert during a controversial interview with PowerFM, saying leadership comes with responsibility.

Richemont shares down 5% after interim results announcement

2018-11-09 12:47

Chairperson Johann Rupert said the group was facing 'growing volatility in consumer demand, partly attributable to an uncertain economic and geopolitical environment,' but was confident in its 'ability to realise our long term ambitions'.

Richemont announces JV with Alibaba to sell luxury brands in China

2018-10-26 09:56

Richemont chairperson Johann Rupert says Chinese customers at home and abroad are an 'increasingly important customer base for Richemont and for the broader luxury industry'.

Richemont appoints new CEO

2018-09-10 08:32

The luxury jewelry and watchmaker announced the appointment of Jérôme Lambert as its new group chief executive officer with immediate effect.

Johann Rupert's Richemont slumps as buying back watches dents earnings

2018-05-18 12:48

Richemont shares fell the most in three years as the Swiss luxury-goods maker bought back more unsold watches from retailers, weighing on profit growth.

Richemont chief technology officer resigns

2018-05-03 09:24

Swiss luxury goods group, Richemont announced that its chief technology officer resigned, this comes after a management overhaul instituted by the company more than a year ago.

Montblanc expands sports watches in Rolex price range

2018-01-15 22:00

Montblanc, the penmaker that began making Swiss watches two decades ago, is shoring up its credentials as it expands with sports models near the Rolex price range.

Small independent watch shops are doomed – Richemont CFO

2017-11-12 19:15

The clock is ticking for small independent watch stores, according to the CFO of luxury goods holding company Richemont, owned by SA businessman Johann Rupert.

Rupert's luxury watch chief quits Richemont, buys stake in rival Breitling

2017-07-14 11:01

Richemont’s head of watchmaking, once seen as a candidate to lead the entire company, is leaving after a management reorganisation put him in control of a portfolio of brands.

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