New top management for Cartier and Givenchy

On the same day, Richemont and Lvmh announced the renewal of the role of ceo of Cartier and Givenchy. The jewellery and watch brand, the Swiss group's most important (with estimated revenues of CHF 3.1 billion in 2023), will be led from 1 September by Louis Ferla, the current CEO of Vacheron Constantin, who will therefore take over the position occupied for eight years by Cyrille Vigneron. Vigneron has decided to leave the maison, indicating Ferla as his successor, although he will remain president of the Culture & Philanthropy division. Ferla started at Richemont in 2001 as sales manager of the Hong Kong area of Alfred Dunhill. He had then joined Cartier in 2006, where he was appointed ceo for China. Finally, in 2017, he was appointed ceo of Vacheron Costantin, another flagship brand of the group. Richemont appointed Nicolas Bos - former ceo Van Cleef & Arpels - as the group's new ceo, effective 1 June.

Lvmh, on the other hand, has a new ceo Givenchy, a brand founded by Hubert de Givenchy in 1952 and which after years of success, especially during the creative direction of Riccardo Tisci, who left in 2017 after 12 years, has been looking for its own more defined identity in recent years. The new ceo is Alessandro Valenti, who takes the place of Renaud de Lesquen, who decided, as a group note reads, "to give a new direction to his career". Valenti, a Bocconi graduate, is thus leaving his role as President Emea of Louis Vuitton. He had previously been manager for Gianni Versace, vice-president retail for Giorgio Armani and then Ralph Lauren. In 2014, he joined Lvmh as managing director of Louis Vuitton France and Monaco.

Lvmh emphasises that this appointment 'opens a new phase in the history of Givenchy', which currently has no creative leadership after the exit of Matthew Williams at the end of 2023.

In recent days there had been rumours, later vanished, of a possible takeover of Richemont by Lvmh, after Bernard Arnault's personal share purchase .