Ralph Toledano

The analysts are not happy. Chairman Yves-André Istel’s statement at the Richemont earnings report today that “No disposals are under consideration at this time or for the foreseeable future.” has been met with grim reaction in the city, which was hoping that Johan Rupert’s sabbatical, and the new leadership of co-CEOS Bernard Fornas and Richard Lepeuwould opt for a rationalisation of the Group, where the fashion brands – Chloe, Alfred Dunhill, Lancel, Shanghai Tang, Alaia – have always seemed an anomaly. Clearly, there’s something of a perception gap here between internal and external players. Why? 

After buying Hermes’ 45 per cent stake in Jean-Paul Gaultier last year and talking up its development potential, Spanish luxury group Puig has put yet more money where its mouth is and just announced the appointment of senior luxury executive Ralph Toledano to the newly created position of President of the fashion division. If you want to send a signal to the fashion community that you are intent on being a serious player, this is a pretty efficient way to do it.