There is no change on the podium of the greatest success in Switzerland in 2024, led by the co-owner of the Paris label Chanel.
Gérard Wertheimer, owner of the luxury fashion and perfume house Chanel, with his brother Alain, maintains his first place in the ranking of the 300 richest in the country published on Thursday night by Bilan magazine. And this despite the slowdown suffered by the luxury sector this year and the decrease in its fortune estimated at 37, even 38 billion francs.
“These uncertainties have consequences for our valuation of the company, estimated between 80 and 90 billion dollars, calculated in francs, the fall in the fortune of Gérard Wertheimer is the result of the sharp decline in the American currency in one year,” set highlight the magazine.
Gérard Wertheimer (Chanel) is still at the top of the ranking of 300 Swiss fortunes according to Bilan magazine. [Reuters – Charles Platiau]
In second place is the Hoffmann, Oeri and Duschmalé family, which controls the pharmaceutical giant Basel roche, with 28 to 29 billion francs. In 2023, the family received about 750 million francs in dividends, according to the document.
Rounding out the podium again is nonagenarian Klaus-Michael Kühne, who, with 27 to 28 billion francs, is the majority shareholder of the transport and logistics group Schwyz Kühne+Nagel.
the fourth place is again occupied by the Safra family, at the head of the private bank J. Safra Sarasin, whose nest is stabilized between 22 and 23 billion francs.
2 billion gain for Jorge Lemann
Then comes the Aponte family, who founded the cruise giant MSC, headquartered in Geneva, and also Swiss-Brazilian Jorge Lemann, 85 years old. He rose in the ranking with 17 to 18 billion francs,despite the disadvantages of Kraft Heinz,in which he had to liquidate his interest.
“Stock market gains from his shares in beer giant AB InBev, as well as Resturant Brands International, owner of Burger King and Tim Hortons, and other companies, have given him almost 2 billion francs – although this is still largely theoretical,” he according to Bilan.
In seventh place is businessman Andrey Melnichenko (assets 17 to 18 billion), who however does not feel so well in Switzerland anymore. He “continues to fight against Swiss and Western sanctions, which he considers unfair” and no longer goes to his home in Graubünden. the coal giant Suek, which he created, closed its Swiss office after twenty years of activity in the country.
The Blocher family still in the top 10
In eighth place, the Bertarelli family (15 to 16 billion) maintains connections in Switzerland, especially biotechnology activities and a residence in gstaad, despite acquiring a luxurious residence in London two years ago.
Then, the Blocher family saw its fortune increase, between 15 and 16 billion. The sisters Magdalena Martullo-Blocher,Rahel Blocher and Miriam Baumann-Blocher control about 70% of the shares of the chemicals group Grison Ems-Chemie,worth more than 11 billion francs,despite the difficulties the company is facing this year. Their brother, Markus Blocher, is benefiting from the expansion of his company Dottikon ES.
The tenth place is now occupied by the Genevan entrepreneur Guillaume Pousaz, with 14 to 15 billion euros and based in London to focus on checkout.com, his platform specializing in online payment processing for clients like Tiffany, TicketMaster or PlayStation again.
answer/practice
How do luxury brands adapt to changing consumer preferences in the current economic climate?
Time.news Editor: Welcome,everyone,to this special edition of our interview series! Today,we’re diving into the intricate world of luxury,wealth,and success in Switzerland. Joining us is a renowned expert in luxury markets and economics, Dr. Isabelle Verneuil. Thank you for being here, dr. Verneuil!
Dr. Isabelle Verneuil: Thank you for having me! I’m excited to discuss the latest developments in the luxury sector, especially in Switzerland.
Time.news Editor: let’s jump right in! Recent reports highlight that Gérard Wertheimer, the co-owner of Chanel, has maintained his position as the richest individual in Switzerland, despite the slowdown in the luxury sector this year. What factors do you think contribute to his sustained success?
Dr. Isabelle Verneuil: it’s quite captivating, really. Chanel has a legacy that not only encompasses high fashion but also a deeply entrenched lifestyle brand. Wertheimer’s ability to maintain top status can largely be attributed to Chanel’s iconic brand image, their strategic marketing, and perhaps importantly, their resilience in adapting to market shifts, even during economic downturns.
Time.news Editor: That resilience is key. Many industries face challenges when external conditions change. What specific strategies do luxury brands like chanel utilize to stay afloat during tougher times?
Dr. Isabelle Verneuil: Luxury brands frequently enough rely on their exclusivity and unique offerings.As an example, thay might limit production to maintain desirability. furthermore, investing in digital experiences and e-commerce has become crucial, especially post-pandemic. Chanel’s selective marketing and collaborations also keep their products in demand and endear them to younger consumers.
Time.news Editor: Absolutely! The younger demographics are an captivating target for luxury brands.How important is it for established luxury brands to connect with millennials and Gen Z,and what implications does that have for their market strategy?
Dr. Isabelle Verneuil: It’s incredibly important. These generations prioritize authenticity, sustainability, and social obligation. Brands like Chanel are not only creating products but are also building identities that resonate with younger consumers. They are investing in enduring practices, engaging storytelling, and even aligning with cultural movements to capture the attention of millennials and Gen Z.
Time.news Editor: That’s a great point. Speaking of culture, how do broader economic factors and luxury consumption trends in Switzerland reflect global patterns?
Dr. Isabelle Verneuil: Switzerland is frequently enough seen as a bellwether for luxury consumption due to its affluent population. Trends here can mirror global shifts; for example, as wealth concentrations increase in emerging markets, we see a corresponding rise in luxury brand sales. However, Switzerland also experiences a unique stability – the affluent tend to hold onto luxury items even during economic slowdowns, maintaining a buffer for luxury goods.
Time.news Editor: Interesting insight! As we look towards the future, what do you envision for the luxury sector in Switzerland? will it continue to thrive?
Dr. Isabelle Verneuil: I believe so. The luxury market has always shown resilience. The ongoing shift toward experiential luxury and the integration of technology within the shopping experience will further transform the sector. In Switzerland, with its rich heritage in luxury, we could see innovative collaborations and even greater personalization in offerings.
Time.news Editor: Thank you, Dr. Verneuil, for sharing your expertise today. It’s enlightening to hear your perspectives on the luxury sector’s dynamics, especially in relation to the continued success of individuals like Gérard Wertheimer.
Dr. Isabelle Verneuil: It was a pleasure to discuss these important trends! Thank you for having me.
Time.news Editor: And thank you, dear audience, for tuning in. Stay with us for more insightful discussions on the latest trends shaping our world!
