Richemont Boss Rupert Quashes Talk of Deals with LVMH or Kering
- Billionaire founder says LVMH never made any direct approach
- Rupert says Richemont decided against Kering deal years ago
Cartier luxury watches on display in Omaha, Nebraska.
Photographer: Houston Cofield/BloombergJohann Rupert, the controlling shareholder of Swiss luxury goods conglomerate Richemont, dismissed talk of a takeover by bigger rival LVMH or a combination with Kering SA.
The billionaire said he was in constant “friendly” dialogue with LVMH Chairman Bernard Arnault, but the Cartier owner has no interest in a deal with the French company and isn’t for sale. He referred to the speculation as an “erroneous story.”