Mytheresa has signed an equity deal to acquire luxury e-tail giant Yoox Net-a-Porter (YNAP) from Richemont. Under the terms of the transaction, Richemont will sell …
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Richemont
Richemont Chairman Says Luxury Watchmakers Must Cut Production
The head of Richemont, the owner of Cartier and Vacheron Constantin, said the luxury watch industry must reduce production after a downturn in demand for …
Bernard Arnault Confirms He Owns ‘Very Minor Stake’ in Richemont
Bernard Arnault confirmed he bought a small stake in Cartier owner Richemont, as the chief executive officer of rival luxury conglomerate LVMH seeks to cool …
Richemont Jewellery Sales Solid, Offsetting Drop in China Demand
The Cartier owner reported a sales gain of 1% at constant currencies to €5.3 billion ($5.8 billion). That was in line with analyst forecasts and …
This Week: Richemont and Burberry Have Some Explaining to Do
Richemont, which reports first-quarter results on July 16, has been in the headlines lately. There was the top management shuffle at the start of July, …
Richemont Names New Brand CEOs
Richemont is reshuffling its top management team once again in a sign that long-awaited succession planning is underway at the luxury group tightly controlled by …
Richemont Names New Cartier CEO
Vigneron led Cartier for eight years and boosted sales by reducing model lines and focusing on the storied brand’s best-selling jewelery collections and watch designs. …
Op-Ed | Could LVMH Buy Richemont?
So now we know. In January, Bernard Arnault sang the praises of Cartier owner Cie Financiere Richemont SA. He also quipped that if its chairman Johann …
Arnault Said to Have Bought Stake in Richemont
Bernard Arnault has taken a personal equity stake in Cartier parent company Richemont, according to people familiar with the French billionaire’s investments. It’s unclear exactly …
Richemont Acquires Italian Jeweller Vhernier
Cartier owner Richemont is acquiring 100 percent of the Italian jewellery house Vhernier, best known for its foldover Abbraccio ring, from the Traglio family. The …
Richemont Shares Surge As Demand for Cartier, Van Cleef Boosts Holiday Sales
Demand for Richemont’s jewellery brands, including Cartier and Van Cleef, gave the group a boost over the Christmas period against a challenging backdrop for the …
Is Richemont Ready to Reveal Net-a-Porter’s Future?
With Farfetch rescued by Coupang and Matches by Frasers Group, the final loose thread from December’s luxury e-commerce drama is the fate of Yoox Net-a-Porter. …
Cartier Owner Richemont Won’t Inject Cash Into Farfetch
Farfetch founder Jose Neves is considering the move after a troubled New York Stock Exchange listing for the loss-making British company, and is working with …
Richemont Says Yoox Net-a-Porter Lost $137 Million In First Half As Sales Fell 10%
Richemont reported a six-month operating loss of €0.7 million in its “discontinued operations” unit comprising Yoox Net-a-Porter (YNAP), citing continued losses at the e-commerce group …
Richemont Takes Controlling Stake in Gianvito Rossi
Richemont has acquired a majority stake in Italian shoemaker Gianvito Rossi, the luxury giant said Friday. The news adds to a week of deal-making, following on …
Richemont Shares Drop 7 Percent as US Revenue Declines
Richemont shares declined after the Swiss luxury-goods maker reported an unexpected decline in sales from the Americas, raising concern over how weak the US market …
Richemont CFO Burkhart Grund Earned $14 Million Last Year, Annual Report Says
Richemont awarded chief financial officer Burkhart Grund 12.9 million Swiss francs ($14.3 million) in total compensation last year, making him the highest-paid employee at the …
Richemont Bolsters Sustainability Expertise In its Top Ranks
The Swiss luxury group has promoted its chief sustainability officer and plans to add to its board a car-industry veteran who worked on the shift to electric …
UK Watchdog Casts Eye on Richemont Deal to Sell Online Retailer to Farfetch
Britain’s competition watchdog on Tuesday said it was seeking comment on whether Richemont’s deal to offload most of its online fashion retailer YOOX Net-A-Porter (YNAP) …
LVMH, Richemont Set to Benefit From Middle East’s Fast Growth
The Middle East is expected to become one of the fastest growing markets for luxury in 2023, according to Barclays Plc analysts, with the owners …