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In many cases, the end of the year gives you time to step back and take stock of the last 12 months. This is when many of us take a hard look at what worked and what did not, complete performance reviews, and formulate plans for the coming year. For me, it is all of those things plus a time when I u...
SYS-CON.TV
Combined Net Worth Of Luxury Watch Titans Exceeds US$60.1 Billion
Wealth-X Releases List Of Top 10 UHNW Luxury Watch Manufacturers And Retailers

SINGAPORE, Nov. 26, 2012 /PRNewswire/ -- Wealth-X, the ultra high net worth (UHNW) business development solution for Global Private Banks, Luxury Brands, Educational Institutions and Non-Profits, unveiled a list of the top 10 UHNW global watch titans. The resilience of the luxury industry is clearly reflected in the growing affluence of luxury retail giants and the UHNW individuals (UHNWIs) behind them.

With a net worth of US$26 billion, Bernard Arnault, chairman and CEO of LVMH, is the world's richest watch titan. The strong growth in LVMH's watch portfolio catapulted Arnault to the top of the list. Francois Pinault, founder of PPR, ranked second with a net worth of US$9.9 billion. In third place is Johann Rupert, chairman of Compagnie Financiere Richemont, with a net worth of US$5.1 billion.

Rank

 

Name

 

Company

 

Est. Net Worth
(US$ billion)

1

Bernard Arnault

LVMH Group

26.0

2

Francois Pinault

PPR

9.9

3

Johann Rupert

Compagnie Financiere Richemont

5.1

4

Francois-Henri Pinault

PPR

4.5

5

Bertrand Puech

Emile Hermes SARL

4.1

6

Ginette Moulin

Groupe Galeries Lafayette

3.1

7

Hussein Gazzaz

Hussein Bakry Gazzaz & Company

2.4

8

Esther Grether

Swatch Group

2.0

9

Nicolas Hayek Jr.

Swatch Group

1.7

10

Chamnong Bhirombhakdi

Pendulum The Watch Specialist

1.3

The collective net worth of the top 10 UHNW watch titans stands at US$60.1 billion, representing 86% of the US$70 billion that UHNW individuals spent on luxury goods last year.

Mykolas D. Rambus, CEO of Wealth-X, said, "The UHNWIs on the list are prominent names in the luxury sector and watches form an important part of their business portfolios."

"These watch titans have developed a taste for luxury themselves, with several notable art, wine and watch collectors amongst them. Their collections include watches from Patek Philippe, FP Journe, and Vacheron Constantin," he noted.

For the full list and supplemental analysis, please visit: http://www.wealthx.com/articles/2012/luxury-watch-titans/

About Wealth-X

Wealth-X provides detailed intelligence on ultra high net worth (UHNW) individuals globally. The firm's Wealth-X Professional solution is the standard for banking, marketing and not-for-profit professionals working with the ultra affluent. Wealth-X is headquartered in Singapore with offices in all major financial centres.

For more information about Wealth-X, please visit: www.wealthx.com  

SOURCE Wealth-X

About PR Newswire
Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

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