Richemont reportedly considering sale of Jaeger-LeCoultre
Richemont is reportedly considering a management buyout of Jaeger-LeCoultre, led by CEO Jérôme Lambert, who is expected to invest personally alongside other backers. The potential deal values the brand at over CHF 1 billion and follows the recent sale of Baume & Mercier to Italian jeweler Damiani. Jaeger-LeCoultre’s turnover was estimated at CHF 524 million in 2024, while Richemont's Specialist Watchmakers division has faced declining sales and profits, contrasting sharply with the success of its Jewellery Maisons. The performance gap between these divisions has narrowed recently, with both sectors showing improvements in sales. Richemont's overall group sales rose by 11% in the last quarter, driven by strong growth in both retail and wholesale channels. The executive team has undergone changes, with Nicolas Bos appointed as CEO of Richemont and Jérôme Lambert remaining influential as COO, hinting at a strategic shift within the company that may see Jaeger-LeCoultre transition to an independent entity under Lambert's leadership.
