The CEO of Richemont subsidiary Van Cleef & Arpels Stanislas de Quercize will be replacing Bernard Fornas as chief executive of theCartier. Fornas is scheduled to retire at the end of the year.
Cartier is the largest luxury brand owned by Richemont, which is expanding into emerging markets including Brazil and China. Other brands owned by Richemont include Vacheron Constantin, IWC, and Montblanc.
De Quercize is known for this rapid success with the Van Cleef & Arpels brand, which had been losing money for Richemont. Since his operating of the brand, Van Cleef & Arpels has become profitable and is growing its reputation among high-end jewelry buyers. Richemont hopes to use De Quercize’s expertise to further Cartier’s profitability and reputation.