Louis Ferla, head of Vacheron Constantin, will succeed Cyrille Vigneron as CEO of Cartier, maintaining the strategic focus that cemented Cartier’s status as the leading global jewelry house and the second-largest luxury watchmaker. Vigneron, who boosted sales by streamlining product lines and emphasizing top-selling collections, will retire and transition to chairman of Cartier’s culture and philanthropy arm.

Richemont Appoints Louis Ferla as New Cartier CEO
Louis Ferla, the new CEO of Cartier

Analyst Jean-Philippe Bertschy of Vontobel remarked that this seamless transition should reassure investors, as Cartier and Vacheron Constantin drive Richemont’s sales and profits. Cartier generates approximately €10 billion ($10.7 billion) annually, while Vacheron Constantin contributes around €1 billion.

Since taking the helm at Vacheron in 2017, Ferla has propelled the brand into the top 10 Swiss watchmakers by revenue, notably increasing sales with the popularity of the Overseas sports watch and the reissue of the 222 model. Ferla’s leadership also reduced Vacheron’s dependence on China and expanded its presence in the US, enhancing direct consumer sales through its boutiques.

This leadership change follows the appointment of Nicolas Bos as Richemont’s group CEO in May, providing clarity on succession within the company led by Executive Chairman Johann Rupert. Cartier remains Richemont’s crown jewel, contributing significantly to the company’s sales and profits, alongside other brands like Buccellati and Vhernier SpA, which together account for about 70% of Richemont’s total sales.

Richemont shares remained stable in early Zurich trading but have declined about 6% over the past year. The company has not yet named new CEOs for Vacheron Constantin or Van Cleef & Arpels.