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Richemont has installed a new chief executive at its jewellery brand Cartier, the biggest business at the Swiss luxury group now confronting an industry-wide downturn.
Louis Ferla, current head of Richemont’s luxury watchmaker Vacheron Constantin, will replace Cyrille Vigneron, who has led Cartier for eight years.
The change comes after Richemont chair Johann Rupert overhauled leadership of the wider group in May, with Nicolas Bos becoming chief executive in an expanded version of the role.
Bos reports to Rupert, Richemont’s controlling shareholder.
“I am delighted that Louis has accepted to take on the top role at Cartier,” Rupert said on Tuesday. “He has earned the admiration and respect of his colleagues across the Group and of the industry at large for having so brilliantly positioned Vacheron Constantin.”
Vigneron will step down at the start of September and help with the transition, Richemont said.
Ferla previously held various senior positions at Cartier, including running its China business.
