Johann Rupert, the South African billionaire who has long kept a tight grip on luxury group Richemont, is finally giving investors a clearer picture of what comes next.
The 76-year-old chairman has appointed his 39-year-old son, Anton Rupert, as non-executive co-deputy chairman, putting him in charge of the group’s creative and commercial direction. Anton has been on Richemont’s board since 2017.
The move gives investors their clearest signal yet that succession planning is underway at the Swiss luxury group, which owns some of the world’s best-known jewellery and watch brands, including Cartier and Van Cleef & Arpels.
Investors have been asking for more clarity on the issue since Richemont reshuffled its senior management in 2024, per Bloomberg's report. Rupert controls the company through a family trust, owning about 10% of its equity but more than half of its voting rights.
“Richemont’s strength has always rested on the continuity that comes from close family involvement,” Rupert said, describing his son’s appointment as an important step in the group’s long-term succession plan.
