Nicolas Bos, Van Cleef & Arpels’ current chief executive, has been appointed CEO of Richemont effective June 1, 2024, as the group’s luxury jewellery houses record a 6 per cent increase in sales for fiscal year 2023-2024.

Following the decision by the group’s board of directors, Bos will “directly and indirectly oversee all the maisons, functions and regions, notably the Jewellery Maisons, Finance and Human Resources” in his new role, according to Richemont.

He will continue to report to Johann Rupert, chairman of Richemont, and will join the senior executive committee when he assumes the role in June. He will be proposed for election to the board at the annual general meeting scheduled for September 11, 2024.

A graduate of the ESSEC Business School, Bos joined Richemont in 1992, initially working with the Fondation Cartier pour l’art contemporain in Paris. In 2000, he joined Van Cleef & Arpels where he held different positions until he became global president and CEO of Van Cleef & Arpels in 2013. Since September 2019, Bos has also been overseeing Buccellati. Richemont owns luxury jewellery brands Buccellati, Cartier and Van Cleef & Arpels. 

Rupert said Bos’ “vision and ability” to uphold Van Cleef & Arpels’ tradition of excellence and creativity have been critical to the maison’s remarkable growth. He noted, “Building on Richemont’s expanded scale and stronger focus on retail and jewellery, Nicolas will steer the group through the next phase of its evolution. The re-established CEO role will help streamline decision making and optimise operational management.”

Meanwhile, the group’s board of directors also named Bram Schot as non-executive deputy chairman of the board effective September 11, 2024 while Jérôme Lambert remains on the board and will continue in the group as COO, reporting to Bos, beginning June 2024.

In another development, Richemont's luxury jewellery houses reported a 6 per cent year-on-year increase in sales to €14.2 billion (around US$15.4 billion) for its fiscal year 2023-2024.

The group attributed this stellar performance to growth in retail and wholesale channels across all regions. The company explained that jewellery sales benefitted from the successful launches of high jewellery collections: Cartier's Le Voyage Recommence, Van Cleef & Arpels' Le Grand Tour and Buccellati's Mosaico.

Iconic collections likewise performed well. These include Opera Tulle and Macri at Buccellati; Trinity, Panthere and Baignoire at Cartier as well as Alhambra, Fauna and Perlee at Van Cleef & Arpels. 

Amid foreign exchange fluctuations impacting profitability, Richemont said its jewellery houses' operating results increased nonetheless to €4.7 billion (around US$5.08 billion), reflecting higher sales. Also noteworthy are network developments during the year such as store renovations and new shop openings.