Audemars Piguet CEO expresses optimism for future

In a struggling sector, Audemars Piguet is hiring one hundred staff and building an extension to its museum together with an adjacent hotel. “We’re one of the few watch brands to be doing well,” CEO François-Henry Bennahmias declared in a recent interview to Bilanz magazine. “Revenue for 2016 broke through the CHF 900 million mark while production remained stable at 40,000 units. Over the next five years, there will be no question of boosting production any more than we intend to increase prices. Growth is largely down to the fact we [...]

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An exceptional luxury hotelier on disruptors and industry challenges (Lars Wagner)

How would you define the disrupters which have been impacting the hotel industry recently? Disruptors in my view can be recession, bomb attacks, new lodging facilities such as Air BnB. Recession and bomb attacks need to be dealt with on a case by case basis and recovery today takes much longer than in the past. We have seen that the bombings in Paris or shooting in Munich interrupt business for a longer period of time impacting revenues and profitability. Disruptors such as Air BnB or Uber are a new positive [...]

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Alexandre Arnault appointed co-CEO of Rimowa

The acquisition of Rimowa brings to over 80 the number of international brands owned by LVMH. Matter of fact, it would hard for any self-respecting person to spend a day without consuming something by LVMH. Seeing as its labels include everything from Louis Vuitton luggage, Christian Dior couture, Fendi furs, Guerlain perfumes, Hennessy brandy, Belvedere vodka, one quarter of all French champagne and the beauty retailing giant Sephora. We caught up with Alexandre at the official opening of Rimowa’s Paris flagship, when everyone from his Karl Lagerfeld to Bella Hadid [...]

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Yves Saint Laurent aims to surpass 3 billion euros in turnover

2016 was the sixth consecutive year of growth for Yves Saint Laurent, with sales reaching 1.22 billion (+ 25.3%), and operating profit of around 268.5 million (+ 59%), 22% of sales. But the company CEO Francesca Bellettini said in an interview to CorrierEconomia that she is not satisfied: “Our target is 3 billion in revenues, because we have the strength and the talent to do it. About Anthony Vaccarello? It was a long weighed decision. He is the perfect man.” In an interview to the FT, Belletini points to brand’s [...]

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Johann Rupert, Chairmain of Richemont, establishes Michelangelo Foundation with craftsmanship focus

Johann Rupert, 66-year-old South African billionaire, chairman and controlling shareholder of the luxury goods group Richemont, owner of brands such as Cartier, Montblanc and Van Cleef & Arpels has recently spoken about the  Michelangelo Foundation which he quietly and without much fanfare founded. A Geneva-based nonprofit organization, it aims to champion master craftsmanship (initially focusing on Europe) by building networks of like-minded artisans and their supporting institutions, facilitating apprenticeships and nurturing global recognition for the Continent’s applied arts culture, hoping to bolster its future. “Our society today honors all the wrong people. [...]

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