ZURICH, July 2 (Reuters) – Richemont (CFR.S) has announced a new leader for its jewelry brand Cartier, known for adorning Hollywood stars and royalty. On Tuesday, the luxury group revealed that Louis Ferla, the current CEO of Swiss watchmaker Vacheron Constantin, will take over as Cartier’s chief executive officer on September 1.
Ferla will replace Cyrille Vigneron, who is retiring at the age of 63 after eight years at the helm of Cartier. Under Vigneron’s leadership, Cartier’s notable wearers included actresses Elizabeth Taylor, Grace Kelly, Nicole Kidman, Princess Diana, and Kate, Britain’s Princess of Wales.
Analysts foresee a smooth transition, viewing it as part of a broader generational shift at Richemont. In May, the company appointed Nicolas Bos as its group CEO. They also emphasized Cartier’s significance to Richemont, highlighting its contribution of over half of the group’s operating profit, which totaled 4.8 billion euros ($5.14 billion) last year.
Ferla, in his late 40s, has been CEO at Vacheron Constantin since 2017. He previously spent a decade at Cartier, including a stint leading its China business. Richemont CEO Bos expressed confidence in Ferla’s leadership. “I have always admired Louis’s strategic vision and inspiring management style, which have turned Vacheron Constantin into a leading luxury watchmaker,” Bos stated.
Kepler Cheuvreux analyst Jon Cox acknowledged that Ferla has “big boots to fill” but noted his familiarity with the Cartier business. Cox pointed out that changes at Richemont’s hard luxury brands, like Cartier, are less disruptive compared to fashion-led brands, which depend more on top executives and creative directors. “Richemont’s hard luxury brands rely on heritage and evergreen collections reinterpreted for growth,” Cox explained.
Bernstein analyst Luca Solca supported Ferla’s appointment, citing his success at Vacheron Constantin. “Vacheron Constantin has thrived in recent years, and Louis Ferla deserves much of the credit for that,” Solca commented.