Anton Rupert, the son of South Africa’s richest man, Johann Rupert, has taken a major step toward leading the family’s luxury empire after being named nonexecutive co-deputy chairman of Compagnie Financière Richemont SA.

The appointment at the $120 billion Swiss conglomerate, which owns Cartier and Van Cleef & Arpels, takes effect immediately. The move sharpens the succession picture at one of the world’s biggest luxury groups as European and Swiss retail giants navigate generational handovers.

Anton Rupert joins Richemont leadership

Anton Rupert will serve alongside Bram Schot, the former Audi chief executive who took on the co-deputy role in 2024. Richemont said the two executives will split duties down the middle: Rupert will lead the committee steering product strategy, brand communications, and creative direction, while Schot handles board governance and oversight.

Johann Rupert, who founded the Bellevue, Switzerland-based group in 1988 and remains its chairman, described the appointment as part of a planned succession process that keeps the family involved while strengthening the company’s corporate governance.

“This appointment is an important step in the board’s long-term succession planning,” the elder Rupert said in a statement. “Richemont’s strength has always rested on the continuity that comes from close family involvement, on rigorous governance, and on an unwavering commitment to creativity and craftsmanship.”

Anton Rupert brings digital expertise

The 39-year-old Anton Rupert is not a newcomer to the boardroom. He joined Richemont’s board in 2017 and previously held a seat on the nominations committee until 2022. He spent nearly two years as a director at pre-owned watch seller Watchfinder.co.uk and currently sits on the board of South African investment holding firm Remgro Ltd.

Outside the family holdings, he serves as an adviser to Asia Partners Fund LP I, a Singapore-focused private equity firm, giving him hands-on experience in e-commerce and digital consumer habits.

The reshuffle comes with the Rupert family firmly in control of Richemont’s future. Johann Rupert has built a personal fortune of $20.1 billion, according to the Bloomberg Billionaires Index, largely through his holding in the company.

While he holds a 10.18 percent economic stake via 6.263 million publicly listed “A” shares and 522 million unlisted “B” shares, those holdings give him 51 percent of the group’s voting rights.

Richemont jewelry sales rise 24%

The younger Rupert steps into his expanded role as the business runs on solid footing. Richemont generated €6.3 billion ($7.2 billion) in revenue for the quarter ended June 30, 2026, marking a 20 percent increase at constant exchange rates and a 17 percent gain at actual rates.

Strong local buying across core regions helped cushion the company against stubborn inflation and higher raw material costs. High-end jewelry remains the company’s financial anchor. Together, the numbers underscore why the Rupert family is keeping a close, direct grip on the creative engine driving the business.

Sales across its four core jewelry brands—Cartier, Van Cleef & Arpels, Buccellati, and newly acquired Vhernier—jumped 24 percent, notching a seventh straight quarter of double-digit gains. The jewelry unit brought in €4.73 billion ($5.42 billion), generating nearly three-quarters of total group revenue.