R1m for a watch? Johann Rupert's Cartier proves luxury is alive
Richemont, owned by Johann Rupert, one of South Africa's billionaires, has seen remarkable growth for the quarter ended 30 June 2025, a time when luxury goods are not a priority for many.
In a time when most people are struggling to make ends meet and are living hand-to-mouth, one would assume that everyone is struggling. However, just beneath the surface of this collective hardship lies a vastly different reality where luxury is thriving.
Richemont is a luxury goods holding company that owns brands such as Cartier. Watches from this brand range between R59 000 and R4 million. Rupert's company's sales went up by 6% at constant exchange rates and by 3% at the actual exchange rate.
ALSO READ: Johann Rupert the wealthiest person in SA according to two rich lists
Rupert is richer, thanks to watches
According to a media statement by Richemont, sales from the jewellery division increased by 11%.
However, analysts had predicted an 8% growth. Richemont's jewellery division includes Cartier, Van Cleef & Arpels, and Buccellati.
One item from any of these brands would cost more than R100 000, showing that the economic crisis experienced by people does not apply to everyone.
This unsettling truth echoes the message from George Orwell's Animal Farm, where the animals rise for equality, only to find that some are more equal than others. While many line up for groceries, a few browse exclusive boutiques, untouched by the economic strain that defines the daily life for most.
Watches are an investment
People who can often afford high-end jewellery buy it as a form of investment. A Cartier watch, after a few years, can be worth more than it was purchased for.
Richemont's data show that for the first quarter, Europe led in sales, while the Middle East and Africa contributed the least to growth.
ALSO READ: Jannie Mouton back on Forbes' list – Here are South Africa's dollar-billionaires
'Retail sales accounted for 69% of Group sales, with growth across all regions, excluding Japan.
'Wholesale sales growth was driven by solid increases in the Americas, Europe and Middle East and Africa. Online retail sales showed robust growth across almost all regions.'
How much is it worth?
According to Cartier's website, the cheapest watch is Tank Must de Cartier, which is worth R59 156,63 ($3 300). The most expensive is Santos de Cartier wwatch,worth R4 230 654 ($236,000).
However, there are some older collections worth significantly more than the ones available in-store and online. Like the Cartier Cheich Montre Bracelet in Yellow Gold Circa 1983, which was sold for $1.1 million in 2022.
One of the most popular items from Cartier is their Love bracelet. The bracelet is worth R109 326,03 ($6 100).
NOW READ: 'Imagine if he took the Guptas': Is Rupert's place in US delegation double standards or good for business?
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