PROFILE: A Man of the C's
A closer look at Gérard Wertheimer, co-owner of Chanel and one of the richest people in Switzerland.
Dear Insider,
Today we bring you an (extra) special PROFILE edition of The Swiss Insider.
And it isn’t ‘just any’ profile…
The man in question is one of the richest in Switzerland. The brand he (and his brother) own is one of the most renowned in the world.
Meet Gérard Wertheimer, co-owner of Chanel.
**Don’t miss The Insider Advantage at the end - to get our take on what you can learn from the life and work of Gérard Wertheimer.
Wealth whispers
The phrase ‘wealth whispers’ fits Gérard Wertheimer extremely well.
With a fortune reputedly over $15 billion, the 72 year-old Wertheimer is one of the wealthiest persons in Switzerland and his native France as well.
The grandson of Pierre Wertheimer, the wealthy Jew who got into the fashion business early on, Gérard keeps the lowest of profiles.
Even if he turns up at a Chanel fashion show he is not likely to sit in the front row - and most probably arrived in his own car…driven by himself.
🎇Lifestyle
But being a ‘wealthy whisperer’ doesn’t mean being completely passive.
Gérard Wertheimer and his brother have been actively involved in supporting the Paris Opéra - and raising race horses.
It is in the latter passion that Gérard in particular has excelled. As an avid equestrian, he shared a close connection to another discreet billionaire - Her Majesty Queen Elizabeth II. Horses from the family stables - aptly named Wertheimer et Frère - have won the Breeder’s Cup an amazing four times - and the Queen Elizabeth Stakes in 2015.
Perhaps the loudest and boldest move that the Wertheimer brothers ever made was hiring Karl Lagerfeld to run the Chanel brand as Creative Director in 1983.
The silvery, white-haired genius made sure that everyone was talking - and not just whispering - about the red-hot brand he helped to reinvent.
🎀(Chanel)ling success
The name “Chanel” is inextricably linked to is iconic namesake, Coco Chanel.
But it might not be nearly as well-known today without the Wertheimer family.
It was the entrepreneurial Pierre who first befriended Coco Chanel in the early 1920’s. With funding secured to start the Société des Parfums Chanel, Chanel opened boutiques and pushed her legendary perfume Chanel No. 5 to a broader - and very willing - public.
When war came, Pierre Wertheimer was forced to flee - but not before savily making sure he could retain control of the company, which Chanel herself tried to take back (allegedly by using the anti-Jewish laws prevalent at the time.)
By 1954, she gave in completely and - in return for more financial support - turned the firm over to the Wertheimer. In 1996, Pierre Wertheimer’s son Jaques passed it on to his sons Alain and Gérard.
Day-to-day operations are controlled by CEO Leena Nair, who has been in her post since 2021.
Today the brand is the mainstay of Gérard Wertheimer’s empire - though not the only jewel in his crown. The brothers have a small, 1% stake in beauty chain Ulta and own multiple properties in France as well as wineries (Chateau Rauzan-Segla in France and St. Supery in Napa Valley) and the aforementioned thoroughbred stables.
💡The Insider Advantage
The story of Gérard Wertheimer is one of opportunity - combined with business saviness.
His grandfather Pierre recognized a winner when he saw one. Coco Chanel - despite her prejudices - recognized the potential of their relationship as well.
The story the Wertheimer brothers and the powerhouse brand of Chanel is one of “capital and creativity.”
The combination is one that fits the Swiss model of business very well.
Quiet investors, elegant returns.
Nothing could be more Swiss….