Business

South Africa’s richest man Johann Rupert’s golden child shines

Luke Fraser

 ·15 Jul 2026

Johann Rupert’s Richemont has seen strong sales growth across most of its businesses and regions, despite the volatile economic environment caused by the Iran war.

Rupert is the chairman of the Switzerland-based group. Although his family does not own a majority of the company, it owns all the private, unlisted B shares, giving it 51% voting control.

The vast majority of Rupert’s wealth comes from his family’s stake in Richemont, which owns Cartier, Van Cleef & Arpels, Montblanc, and many more luxury brands.

The group saw sales in the quarter ended 30 June 2026 rising by 20% in constant currency terms, supported by strong local clientele amid a volatile macroeconomic and geopolitical environment.

The group added that sales rose across all regions, with notable double-digit increases in Europe, the Americas, Asia Pacific and Japan. The Middle East & Africa also returned to growth.

In Europe, sales grew by 11%, against a double-digit comparative in the prior-year period, driven by strong demand from local clients and tourist spend, notably from North American and Middle Eastern clients.

In the Americas, sales growth accelerated sequentially to +27% amid increased demand, especially for the group’s Jewellery Maisons and Specialist Watchmakers.

Asia Pacific sales increased by 21%, with strong demand in Hong Kong and Macau and double-digit growth in China.

In the Middle East and Africa, sales increased by 3%, as robust local demand offset a significant drop in tourist spending owing to the conflict in Iran.

While the United Arab Emirates market saw modestly lower sales, other main markets in the region saw solid growth.

All distribution channels also saw growth, with retail sales rising by 24%, led by the Jewellery Maisons, which accounted for 71% of group sales.

Sales were up by double digits across all business areas and regions, excluding the Middle East & Africa. Wholesale sales also rose by 9%.

Its four jewellery Maisons, Buccellati, Cartier, Van Cleef & Arpels and Vhernier, posted a combined 24% rise in sales, marking a seventh straight quarter of double-digit growth.

The group’s specialist watchmakers delivered a notable sequential improvement, with sales up by 8% in the quarter.

It said that sales rose across the majority of Maisons, with Vacheron Constantin, Jaeger-LeCoultre and A. Lange & Söhne standing out.

The group’s net cash position at 30 June 2026 stood at €9.1 billion (2025: €7.4 billion), including a €0.4 billion cash inflow from the disposal of the stake in Avolta.