Richemont Family Succession Doesn't Quash Questions

Dow Jones09-11

0900 GMT - Questions linger over Richemont's long-term leadership, Alphavalue equity analyst Jie Zhang says after the Swiss luxury group appointed its powerful chairman's son to a senior role. Johann Rupert's son Anton was this week handed the role of nonexecutive co-deputy chairman of the group, which houses jewelers Cartier and Van Cleef & Arpels and watchmakers including Piaget alongside fashion brands like Chloe. Anton Rupert has limited experience in luxury and while he may be a natural choice for a leadership role in the family-dominated business, the quality of that leadership remains largely untested, Zhang notes. "Greater visibility around succession therefore does not necessarily translate into lower execution risk," she cautions. Alphavalue has a reduce rating and a target price of 179 Swiss francs on Richemont stock. Shares rise 0.55% to 173.85 francs.

 

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment