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Front Row
Cartier struggles to find successor to style and heritage director Pierre Rainero

Pierre Rainero, guardian of the Cartier style, will soon be retiring from the jeweller’s after over 40 years of service.© Studio Pachamama

Finding a replacement for Rainero, a leading light of Richemont who has been in his current post since 2003 and employed by company ever since 1984, is proving to be a tricky proposition.

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Spotlight
The key hearing that was awaiting the asset manager in the missing Hermès shares scandal

Éric Freymond, who died on 23 July, was under investigation in both Bern and Paris over his asset management practices.© Studio Pachamama

One month after his sudden death, the Swiss asset manager Éric Freymond was due to appear before magistrates in Bern in a case involving misappropriation of assets similar to the one involving Hermès heir Nicolas Puech.

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In Focus
The last confession of Eric Freymond, the shadow financier in the missing Hermès shares scandal

Implicated in the Hermès affair, the Swiss businessman Éric Freymond committed suicide on 23 July at the age of 67.© Studio Pachamama

A few weeks before throwing himself onto the railway tracks near his chalet in Gstaad on the morning of 23 July, the Swiss asset manager Freymond agreed to meet with journalist Philippe Vasset, editor-in-chief of Glitz, for Revue XXI magazine.

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Hermès family dividends jump by more than 40%

Three months after Hermès briefly surpassed LVMH in market capitalisation, the Dumas, Puech and Guerrand families, who own 54% of the Faubourg-Saint-Honoré leather goods manufacturer, collectively pocketed a windfall.

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Christian Louboutin repatriates profits from Luxembourg in dribs and drabs

Though he generally prefers to keep the profits from his business in his Swiss and Luxembourg holding companies, the designer of the stilettos with red-lacquered soles has recently repatriated a small fraction to France.

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Houses

Kering to give Luca de Meo €20m 'golden hello'

Kering's general meeting on 9 September will be asked to approve a princely salary for its future CEO.

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Pinault family tops up coffers of struggling Courrèges

Despite the success of Nicolas Di Felice's collections, the iconic Paris fashion house had run up heavy debts, most of which the Pinaults, who own 100% of its shares, recently wiped clean.

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Hôtel Costes secures court order targeting Gucci megastore

The 5-star Paris hotel had taken the fashion house to court over the disruption being caused by the works on the Gucci store near Place Vendôme.

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Entourage

Monogram contends with angry customers and potential lawsuits after going bust

The luxury second-hand e-commerce platform founded by Beverly Senego went into receivership on 24 July. This has prompted a string of complaints and threats of legal action, as customers seek to recover proceeds from sales as well as the items they had put up for sale on the website.

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Centre Pompidou banks on Saudis and luxury advertising to fund renovation

The Paris contemporary art gallery will soon be closing down for five years for a root-and-branch overhaul. It is hoping that the granting of an exhibition space in the renovated building to Saudi Arabia and giant advertising on its façades will go a long way to paying the bill.

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French MPs seek to ban fashion shows involving minors

Building on the work of the National Assembly's committee on violence in the French cultural sector, politicians are currently drawing up legislation to regulate the use of models under the age of 18.

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