Richemont CEO tells Europe To Shape Up
Europe is at risk of becoming nothing more than a tourist attraction for wealthy Chinese if it does not reform, CEO of luxury goods group Richemont Johann Rupert said.
Rupert, the South African chairman and chief executive of Richemont told a results conference call on Wednesday that a few years ago he had said, “If people do not watch it Europe will become an open-air museum for traveling Chinese…Well, we are halfway there.”
Rupert, the South African chairman and chief executive of Richemont told a results conference call on Wednesday that a few years ago he had said “If people do not watch it Europe will become an open-air museum for traveling Chinese,” he continued with, “Well, we are halfway there.”
Rupert added, “You cannot work 35 hours a week, want to retire by 50 with full pension, have eight weeks of holiday and expect to be bailed out by people who work their butts off either in northern Europe or in China. Life does not work like that.” Currently, South Africans are debating how much credit they should extend to Europe.
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