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Opinion
Andrea Felsted

Millennials Disrupt Luxury With Their Online Cartier Love

Richemont's new management needs to cope with the digital challenges.
SOTHEBYS CHER
GRAHAM BARCLAY/Bloomberg

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.