2024 JULY ISSUE
CASE STUDY
THE STORY OF RICHEMONT
Written by Andrew Sia
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From the Desk of the Publisher
This is the second story we wrote after the first one we published in our April issue as the Story of Kering. We mentioned earlier on that the luxury industry sect is resilient even going through so many crisises. Richemont owns iconic brands that went back to 1755, Vacheron Constantin, and other renowned brands like Cartier, Jaeger Le-Coultre, Piaget, Van Cleef & Arpels, and the like. All of these companies survived multiple revolutions, world wars, global pandemics, and recessions. For these brands to survive and to see them today growing from strength to strength is something not only we have to admire, but to learn and practice.
When I was preparing this writeup, I was most impressed when I came across Cartier, within the Richemont Group, established the Institut Superieur de Marketing du Luxe, also known as Sup de Luxe Paris. It provides luxury management programs from bachelor’s to MBAs. Sup de Luxe is part of the EDC Paris Business School. The institute is a “Chair Cartier” and was created by professionals working in the luxury goods sector. This institution is training students to become professionals to serve in the industry. What a dignified practice and so admirable that every industry should learn and to practice.
In this piece you will also find the initiative by Montblanc for instance. They all have shown their social responsibility. I found it very encouraging.
Please watch out for the third piece which I would be writing about LVMH and it is almost completed. I can assure you that I have learned equally as much from my research for the article. I’ll share it with you in our November issue.
By the way, Richemont is the luxury group that holds its No. 1 position in hard luxury category for jewelry and watches.
