Johann Rupert's Richemont converts €100 million debt to equity to prop up Belgian handbag maker Delvaux
Billionaires Africa | 18.04.2026 16:21
Johann Rupert's Richemont is writing off debt to keep Delvaux alive. The Swiss luxury group has converted €100.6 million ($109 million) in loans owed by its Belgian leather goods subsidiary into equity, stabilising a balance sheet that has been weakening since Richemont took over the brand in 2021.
