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Richemont clarifies goals for beauty, watches and relations with the press

By Astrid Wendlandt
15 September 2024
Johann Rupert at the Richemont AGM in Geneva on Sept. 11, 2024

Johann Rupert at the Richemont AGM in Geneva on Sept. 11, 2024

Demand for watches globally appears to have passed its peak and many watchmakers have cut production, Johann Rupert, Richemont’s chairman, said at the group’s annual shareholders’ meeting in Geneva on Wednesday. Backtracking on plans announced a year ago, the South African billionaire also said that the group was no longer planning to create a beauty unit.

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