Richemont Restructures - Augustman
Augustman Logo
Style
Culture
Gear
Food & Drink
Travel
Wellness
AM Select
E-Magazine
Most Trending
Richemont Restructures
Most Recent
Richemont Restructures
Most Trending
Shawn Stussy x Dior B27 Is The ’90s Throwback Sneaker You Want Right Now
Most Recent
Luxury Watches To Welcome The Year Of The Ox
  • Fashion
  • Watches
  • Grooming
Most Trending
The Tokyo Olympics Will Be Held This Summer But Some In Japan Aren’t Too Keen On It
Most Recent
Shattered Faith. Broken Alliances.
  • Design
  • Events
  • Art
  • Music
  • Film & TV
Most Trending
The New, Unusually Restrained Rolls-Royce Ghost Is A Masterclass In Elegance
Most Recent
WhatsApp Has Updated Its Terms And Its Rivals Are Reaping The Benefits
  • Tech
  • Motoring
Most Trending
Drink To This: James Suckling’s Top 10 Wines Of 2020
Most Recent
The Brave Newer World Of Wines… And Other F+B Notes
  • Dining
  • Drinks
Most Trending
More Air Travel Bubbles (ATB) We’d Like To See
Most Recent
Detourism: Can The Past Year’s Lessons Teach Us To Become Better Tourists?
  • Travel Guides
  • Hotels & Resorts
Most Trending
Optimise your liver’s health with Swisse’s Ultiboost Liver Detox
Most Recent
Razer Has Created A Futuristic Face Mask Equipped With Built-In Microphones And Lighting Effects
  • Fitness
  • Health
Most Trending
AUGUSTMAN Singapore: Free Digital Issues For The Next 3 Months
Most Recent
Uncover Mindful Living with AUGUSTMAN x LIFESTYLEASIA
  • Men of the Year
  • MVMT
  • A-Listers
  • Hit List
  • sg
    • MY
    • SG
  • Search
Richemont Restructures
Sort & Filter
Close Filter
Sort By
Date
Relevance
Filter By Category
All Categories
All
Style
Culture
Gear
Food & Drink
Travel
Wellness
AM Select
Apply
Filter By Location
singapore
All Countries
Culture
Shattered Faith. Broken Alliances.
Culture
The Tokyo Olympics Will Be Held This Summer But Some In Japan Aren’t Too Keen On It
Culture
Legendary Songwriters Are Selling Off Their Song Catalogues. Here’s Why
Augustman Logo
sg
Richemont Restructures
Back
All  Style
  • Fashion
  • Watches
  • Grooming
Back
All  Culture
  • Design
  • Events
  • Art
  • Music
  • Film & TV
Back
All  Gear
  • Tech
  • Motoring
Back
All  Food & Drink
  • Dining
  • Drinks
Back
All  Travel
  • Travel Guides
  • Hotels & Resorts
Back
All  Wellness
  • Fitness
  • Health
Back
All  AM Select
  • Men of the Year
  • MVMT
  • A-Listers
  • Hit List
E-Magazine
  • Malaysia
  • Singapore
  • Facebook
  • Twitter
  • Instagram
Sort & Filter
Close Filter
Sort By
Date
Relevance
Filter By Category
All Categories
All
Style
Culture
Gear
Food & Drink
Travel
Wellness
AM Select
Apply
Filter By Location
singapore
All Countries
Culture

Richemont Restructures

Naomi Mathews
04 Nov 2016
Article Hero Image
Trending Now
WhatsApp Has Updated Its Terms And Its Rivals Are Reaping The Benefits
GearRead More
Luxury Watches To Welcome The Year Of The Ox
StyleRead More
Razer Has Created A Futuristic Face Mask Equipped With Built-In Microphones And Lightin...
WellnessRead More
Shattered Faith. Broken Alliances.
CultureRead More
Here's your ticket to incisive commentary and insights from the celebrity sphere. Sign up for our newsletter.

Luxury brand maker Richemont, announced a startling overhaul of its management as it sees eight directors stepping down to make way for new management. This drastic overhaul comes as the company saw a staggering 43 percent drop in the first-half profit due to sluggish Asia demand, volatile currencies and weakening tourism in Europe that is afflicting luxury brands globally at the moment. Few luxury brands have been spared by slowing economic growth in Asia, where the bulk of their clientele is based or an anti-corruption crackdown in China that targeted gift-giving as well as the recent spate of terror attacks that have deterred many tourists from travelling to the key French luxury market. The re-shuffle of management will see Johann Rupert remaining as executive chairman and deputy CFO Burkhart Grund replaces Gary Saage. 

Georges Kern, who leads the IWC brand, will head watchmaking, marketing and digital.

Montblanc CEO Jerome Lambert will head operations.

Rupert who will retain the role of executive chairman stated that Richemont intends to reduce production of watches and is considering a hiring freeze alongside closing boutiques in less important locations in China with the hope that under the new management structure, the heads of individual brands will report directly to the board allowing for a quicker reaction time to tackle challenges facing the business. 

Watches
style
Naomi Mathews
Talk to Me About:

Up Next For You

Upcoming Netflix Originals That You Will Want To Stream In 2021
Richard Augustin
Culture
Need To Keep Boredom Away? Here Are 5 Events You Should Catch In January 2021
Richard Augustin
Culture
From Money Heist To His Dark Materials, Here Are 15 TV Shows That Will End Their Run This Year
AFP Relaxnews
Culture
The Elder Statesman of Rock And Roll: Speaking With Foo Fighters' Dave Grohl
Jamie Tan
Culture
Here's your ticket to incisive commentary and insights from the celebrity sphere. Sign up for our newsletter.
×
Where are you?
Tell us so we can display what you want to see.
  • Malaysia
  • Singapore
Malaysia Singapore
Advertise About Privacy Policy Terms & Conditions
© 2021 Copyright Augustman