It was a few years ago that luxury goods makers woke up to the reality that more consumers, even high-net-worth individuals looking for intricate timepieces or perfumes, are happy to shift their spending online.

Richemont, the Switzerland-based luxury firm and watchmaker behind brands such as Cartier, snapped up an online portal Yoox Net-A-Porter in 2018. It was an embarrassing but necessary about-turn by the company — which counts SA’s richest man, Johann Rupert, as the biggest shareholder — acknowledging that consumers, especially tech-savvy millennials, are perfectly comfortable buying fine jewellery while sipping whisky on a couch...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now