Cartier Appeal Helps Richemont Reach CHF100 Billion Value
- Shares in luxury conglomerate controlled by Rupert have soared
- Richemont also owns exclusive Van Cleef & Arpels label
A Cartier luxury jewelry boutique in Hamburg, Germany.
Photographer: Maria Feck/BloombergThis article is for subscribers only.
Swiss luxury conglomerate Richemont’s stock market value surpassed 100 billion Swiss francs ($110 billion) for the first time, bolstered by the appeal of its blockbuster jewelry label Cartier.
Shares of the company controlled by billionaire Johann Rupert have risen for six straight days since the company last week reported better-than-expected sales for the most recent quarter. The period covered the crucial holiday shopping season.