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Andrea Felsted

Millennials Disrupt Luxury With Their Online Cartier Love

Richemont's new management needs to cope with the digital challenges.

Richemont has put the finishing touches to management changes it began a year ago. While the latest adjustments to the team might not be as eye-catching as, for instance, eliminating the CEO role, they underline the need for luxury to keep pace with far-reaching shifts in the industry.

The group on Friday elevated Jerome Lambert to chief operating officer, and also named Emmanuel Perrin, previously a senior director at Cartier, as head of distribution for its watch brands.