Over the last few years, Swiss luxury goods powerhouse Richemont has been growing rapidly in Asia-Pacific, where is has a presence in 10 countries. The region now accounts for 8,000 of its 35,000 employees, and almost 40% of the group's revenues thanks to iconic brands such as Cartier and Van Cleef & Arpels. Alain Li, CEO for the Asia-Pacific region tells mind RH how the group has coped in terms of hiring, training and cultural adaptation.
What is the HR strategy for Richemont Asia Pacific?
Before Covid, we were in a business development phase. We opened new stores, developed new markets and multiplied our revenues sixfold in the space of 20 years. It was really a growth strategy aimed at meeting our new needs. Our HR policy focused on hiring and developing and local talent. While expatriates and people sent from headquarters help define the strategy, you then need local talent to execute and develop the strategy over the longer term. Most of the people we hired were fairly young and at the early stages of their careers. While well-educated and well-spoken, they only had very limited experience in luxury goods.
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Article authors
Nathalie Tran
Editor-in-Chief Mind HR