LVMH reportedly considers acquisition of Richemont, home to Cartier and other luxury brands

Richemont, a holding firm for luxury products situated in Switzerland, is apparently being considered
for acquisition by LVMH, the world’s largest luxury business and home to billionaire Bernard Arnault.
Swiss tabloid Finanz und Wirtschaft broke the news first, citing whispers from behind closed doors.
Cartier is apparently Arnault’s aim because he sees the Richemont jewellery and watch company as
essential to the expansion of LVMH’s jewellery division, which already comprises Tiffany & Co.,
Bvlgari, and Chaumet.
With a diverse portfolio of 26 maisons and businesses, including Cartier, Chloé, Montblanc, IWC, A.
Lange & Söhne, Van Cleef & Arpels, Jaeger-LeCoultre, Panerai, Piaget, and Vacheron Constantin, as
well as retail platforms under YOOX Net-a-Porter Group, Richemont is currently the fourth-largest
luxury company in the world by market cap.
Johann Rupert, a businessman from South Africa, founded Richemont in 1988, and ever since, his
family has owned a majority position in the organisation. Rupert has thus far been averse to ceding
control of the business; last year, he refused to alter the family-controlled boardroom structure.
“Our board might operate more slowly and cautiously than others. But precisely its openness and
collegiality are their benefits. In a rare interview, he stated, “I will not be blackmailed.