Africa’s third-richest man, Johann Rupert, has led his luxury goods company Richemont through a difficult moment in the global luxury business, delivering strong growth despite rising gold costs, trade tensions, and declining consumer mood.
The South African billionaire who heads the Cartier company saw Richemont outperform much of the sector in the fiscal year ending March 31.
Group sales for the year totaled €22.4 billion, an 11% rise at constant exchange rates (+5% at actual values), with growth in all business areas, geographies, and distribution channels.
This was aided by strong local demand and the advantages of the Group's diverse geographical presence.
These factors remained evident in the fourth quarter, allowing the Group to sustain its momentum, with sales growing 13% at constant exchange rates.
