{"id":831709,"date":"2025-07-16T08:17:41","date_gmt":"2025-07-16T06:17:41","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=831709"},"modified":"2025-07-16T08:18:51","modified_gmt":"2025-07-16T06:18:51","slug":"big-win-for-johann-ruperts-golden-child","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/831709\/big-win-for-johann-ruperts-golden-child\/","title":{"rendered":"Big win for Johann Rupert’s golden child"},"content":{"rendered":"\n

Richemont quarterly sales rose as the Cartier owner proved resilient amid a wider demand downturn for luxury goods.<\/p>\n\n\n\n

Chiarman Johann Rupert controls Richemont despite holding only 10% of its economic interest.\u00a0This is due to the family’s ownership of 51% of the company’s voting rights via its B shares. <\/p>\n\n\n\n

Sales at the jewelry division, its largest, surged 11% at constant exchange rates in the quarter ending in June, Richemont said in a statement Wednesday. Analysts had expected a gain of 8.6%. <\/p>\n\n\n\n

Richemont has withstood the weakening in demand for luxury goods better than most peers thanks to its jewelery brands Cartier and Van Cleef & Arpels. <\/p>\n\n\n\n

In times of economic uncertainty, high-end jewelry is often viewed as an investment with more intrinsic value than pricey apparel and leather goods.<\/p>\n\n\n\n

Overall, the luxury industry is struggling with a slowdown caused in part by Chinese shoppers reining in costly purchases amid high youth unemployment and a property crisis.<\/p>\n\n\n\n

US President Donald Trump\u2019s tariff threats have also\u00a0weighed\u00a0on consumer confidence in the US and elsewhere.<\/p>\n\n\n\n

Shares of Richemont have gained 10% so far this year, while those of rival LVMH Mo\u00ebt Hennessy Louis Vuitton SE, which is exposed to the more volatile ready-to-wear and handbag categories, are down around 25%.<\/p>\n\n\n\n

\"\"<\/a><\/figure>\n","protected":false},"excerpt":{"rendered":"

Richemont saw its quarterly sales rise in the first quarter of the 2025 financial year, with the group seeing a boost from Cartier. <\/p>\n","protected":false},"author":59,"featured_media":807163,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872],"tags":[1850,21065,4665],"class_list":["post-831709","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-bloomberg","tag-cartier","tag-richemont"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/831709","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=831709"}],"version-history":[{"count":4,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/831709\/revisions"}],"predecessor-version":[{"id":831717,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/831709\/revisions\/831717"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/807163"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=831709"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=831709"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=831709"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}