Invest with people who worry all the time, says Rupert as Richemont smashes records

Shares in Richemont, the Swiss luxury goods group chaired by Johann Rupert, rocketed more than 9% to a record high on Friday, with the group smashing investor expectations across the board and ending the day valued at over R1.7 trillion on the JSE.

As investors cheered the results, Rupert himself, however, delivered some of his trademark bearishness, warning of tough conditions to come in the US, while declining to give any detailed guidance for a company that is trying to rapidly ramp its manufacturing to meet booming demand for its products.

“We can’t promise you margins, but what I can promise you that the same questions you ask of us we ask ourselves,” he said during an investor presentation.