South Africa billionaire and Chairman of Richemont, Johann Rupert, will be going on a year long sabbatical after the group’s annual general meeting in September.

Rupert who has already reduced some of his day-to-day duty as the group’s Chief executive said he is taking a year leave to read books and possibly travel to Antarctica.

”After 25 years, I think I have got the right to just take a break,” he said.

”There are things I want to see and do. I want to be a master of my own time for sometime. It is ironic that someone in the watch business should not be in control of his time.”

Rupert, who founded Richemont as an offshoot of his father’s business today owns the world’s second largest luxury goods group. His company has luxurious brand such as Alfred Dunhill (Men clothing brand), Jaeger-Le Coultre (wristwatch) and online fashion retail business- Net-a-profit.

In his absence, the company will be controlled by Co-chief executives Bernard Fornas, Richard Lepeu; Chief finance officer, Gary Saage and Deputy Yves-Andre Istel who will chair group’s board meeting.

None of these executives are family members, a rather suprising move since Richemont is a family business.

Rupert however said that he has confidence in them.

Rupert’s announcement came at a time when his company recorded its strongest growth ever. The company recorded a 14 percent rise in sales to €10.15billion for the year ended March 31. Its pretax profit rose 32 percent.

The company however face weaker demands in recent time.

Rupert said despite slow down, Richemont sales were 12 percent higher than the same month in 2012.

”However, one month of sales should not necessarily be taken as an indication of the year as a whole. ”