Business

Johann Rupert’s golden child is raking in money

Jonathan Hoyle

 ·13 Nov 2026

Compagnie Financière Richemont (Richemont) has continued to grow in the luxury goods industry despite a difficult global economic backdrop.

The Swiss company, chaired by South African billionaire Johann Rupert, increased its sales by 16% in its latest interim period.

The luxury goods giant saw group sales rise to €12.3 billion (R228.1 billion), while its gross profit increased by 18% to €8.2 billion (R152.1 billion)

Rupert said the growth in sales and profit during the interim period was achieved despite a volatile macroeconomic environment.

“In the first six months of the financial year, Richemont delivered strong results in a volatile geopolitical and macroeconomic environment,” he said.

He added that the sales growth had largely been seen across its operations, with most areas reporting double-digit increases.

“All business areas performed strongly, with double-digit rises across every region except the Middle East & Africa”

The largest regional sales increase was in the Americas, where sales grew 23% and accounted for 26% of the group’s total sales.

In its distribution channels, Richemont noted that sales through its physical stores grew by 20% at constant exchange rates, outpacing its online retail segment.

Retail sales, which refer to sales from the group’s physically owned stores, totalled €8.8 billion (R163.2 billion) for the six months ended 30 September 2026.

“Retail sales increased by 20% compared to the prior-year period, reflecting double-digit growth across all business areas, fuelled by notable strength at the Jewellery Maisons,” Richemont noted.

While the luxury goods company performed well during the period, Rupert noted that it expected the global environment to remain volatile for the foreseeable future.

“Whilst we cannot predict what lies ahead, we expect the macroeconomic and geopolitical environment to remain volatile for the foreseeable future,” he said.

He also noted that the company had faced upward pressure from raw material costs during the interim period, but had still maintained profitability.

“Sales growth and disciplined operational execution enabled the Group to increase profitability despite continued pressure from elevated raw material costs.”

Richemont interim results snapshot

Succession plans

In the interim results, Rupert also discussed long-term plans for the company related to his son, Anton Rupert’s appointment as Non-Executive Co-Deputy Chairman.

Anton Rupert was previously appointed to the executive position in September 2026, serving alongside Bram Schot.

“This appointment is an important step in our long-term succession planning and reflects our commitment to sound governance,” Johann Rupert said.

He further explained that the two adjacent executive positions for Anton Rupert and Schot are intended to complement each other.

“The two roles are designed to be complementary,” Johann Rupert said.

“Anton oversees matters relating to the Maisons’ Strategic Product and Communications Committee, helping to ensure continuity in the creative vision and product excellence that define our Maisons and underpin their long-term success.”

“Bram assumes responsibility for Board and Committee governance matters, including the effective coordination of the Board’s committees and oversight of the Group’s corporate governance framework.”

He added that the oversight from both executive roles was essential to Richemont’s continued success.

“A long-term perspective, sound governance and a commitment to creativity and craftsmanship remain central to Richemont’s culture. These principles have served our Maisons well and will continue to guide us,” he said.

Although based in Switzerland, Richemont has a secondary listing on the Johannesburg Stock Exchange (JSE), reflecting the Rupert family’s connection to the country.

The company has a market capitalisation of approximately R1.8 trillion and ended trading on 12 November 2026 with a share price of 354,132 cents.