In a surprising move, Richemont CEO Johann Rupert has appointed Louis Ferla to lead the flagship brand Cartier. This change comes after Nicolas Bos was appointed as the new CEO of the entire Richemont Group in May.
Cartier, which generates over 10 billion euros in turnover for Richemont, is a major player in the luxury goods sector and has been under the spotlight due to rumors that Bernard Arnault of LVMH plans to acquire it. However, Rupert has made it clear that neither Cartier nor Richemont as a whole are up for sale.
The departure of Cyrille Vigneron as CEO of Cartier marks the end of an era for the brand, which has seen significant success under his leadership. Vigneron’s focus on classic designs and marketing strategies that appealed to a younger generation helped position Cartier as one of the most popular luxury brands among millennials. He will take on a new role as Chairman of Cartier Culture & Philanthropy in 2024.
Ferla, who has been leading Vacheron Constantin for seven years, will bring his expertise and experience to Cartier. He has a long history with Richemont, having started his career at Alfred Dunhill before moving to Cartier in 2006. More recently, he has successfully positioned Vacheron Constantin within the world of haute horlogerie by focusing on attracting a younger customer base and launching new collections.
With these changes in leadership at Richemont, there are vacancies that need to be filled within the organization. Catherine Rénier will take over at Van Cleef & Arpels following the departure of Nicolas Bos, while Philippe Hermann will serve as interim CEO until a permanent replacement is found at Jaeger-Le Coultre. Despite these changes, Richemont continues to see growth and success in the luxury goods sector.
