Richemont

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For other uses, see Richemont (disambiguation).
Compagnie Financière Richemont SA
Public
Traded as SIX: CFR, JSE: CFR [1]
Industry Management
Predecessor Rembrandt Group Limited [1]
Founded Geneva, Switzerland (1988 (1988)) [1]
Founder Johann Rupert [1]
Headquarters Bellevue, Switzerland [1]
Area served
 Worldwide
Key people
 Johann Rupert, Chairman [1]
Services
  • Management
  • Logistics
Revenue
  • Increase €10.410 billion (2015)
  • €10.023 billion (2014)
[1]
  • Increase €2.670 billion (2015)
  • €2.427 billion (2014)
[1]
Profit
  • Decrease €1.334 billion (2015)
  • €2.067 billion (2014)
[1]
Total assets
  • Increase €20.450 billion (2015)
  • €15.918 billion (2014)
[1]
Total equity
  • Increase €14.420 billion (2015)
  • €11.958 billion (2014)
[1]
Owner
  • Compagnie Financière Rupert (9.1%)
[1]
Number of employees
  • Increase 28,324 (2015)
  • 26,786 (2014)
[1]
Divisions
  • Jewellery Maisons
  • Specialist Watchmakers
  • Other Businesses
[1]
Subsidiaries See article section
Website richemont.com

Compagnie Financière Richemont SA is a Switzerland-based luxury goods holding company founded in 1988 by South African businessman Johann Rupert. Through its various subsidiaries, Richemont designs, manufactures, distributes and sells premium jewellery, watches, leather goods, writing instruments, firearms, clothing and accessories. Richemont is publicly traded as CFR on the SIX Swiss Exchange and the JSE Securities Exchange.

The brands it owns include A. Lange & Söhne, Azzedine Alaïa, Baume & Mercier, Cartier, Chloé, Dunhill, IWC Schaffhausen, Giampiero Bodino, Jaeger-LeCoultre, Lancel, Montblanc, Officine Panerai, Piaget, Peter Millar, Purdey, Roger Dubuis, Shanghai Tang, Vacheron Constantin, and Van Cleef & Arpels.

As of November 2012, Compagnie Financière Richemont SA is the sixth largest corporation by market capitalization in the Swiss Market Index. As of 2014, Richemont is the second-largest luxury goods company in the world after LVMH.[2]

History

Johann Rupert founded Compagnie Financière Richemont SA in 1988 when he spun off the international assets of Rembrandt Group Ltd. (now Remgro Limited), a South Africa-based company founded in the 1940s by his father, Dr. Anton Rupert.[3][4] The luxury goods investments of Rembrandt Group combined with Rothmans International formed the initial group of Richemont subsidiaries.[5][6]

In March 2007, Richemont and Polo Ralph Lauren Inc. announced the formation of a 50/50 joint venture, the Polo Ralph Lauren Watch and Jewelry Company SÀRL.[7]

In October 2008, the Group divested all of its remaining interests in the tobacco industry.[8]

As of November 2012, Compagnie Financière Richemont SA is the sixth largest corporation by market capitalization in the Swiss Market Index.[9] As of 2014, Richemont is the second-largest luxury goods company in the world after LVMH.[2]

Organization

Compagnie Financière Richemont SA organizes its business activities into three operating divisions: Jewellery Maisons, Specialist Watchmakers and Other Businesses.[1]

Cartier and Van Cleef & Arpels constitute the Jewellery Maisons.

The Specialist Watchmakers group is composed of A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Officine Panerai, Piaget, Roger Dubuis, Vacheron Constantin and the joint venture with the Ralph Lauren Watch & Jewelry Co.

The Other Businesses division includes Azzedine Alaïa, Chloé, Dunhill, Lancel, Montblanc, Peter Millar, Purdey and Shanghai Tang.[1]

Ownership and control

The largest significant shareholder of Compagnie Financière Richemont SA is Compagnie Financière Rupert, a Swiss company that holds shares controlled and principally owned by Johann Rupert. Compagnie Financière Rupert owns 522,000,000 Class "B" shares of Compagnie Financière Richemont SA, representing 9.1% of the equity and 50% of the voting rights. Johann Rupert and Compagnie Financière Rupert also hold 2,836,664 class "A" shares or "A" share equivalents as of the end of March 2015.[1]

Investments

Subsidiaries

The following companies are wholly owned subsidiaries of Compagnie Financière Richemont SA unless otherwise noted.[1]

  • A. Lange & Söhne — watches; based in Glashütte, Germany
  • Azzedine Alaïa — women's fashions; based in Paris, France
  • Baume & Mercier — watches; based in Geneva, Switzerland
  • Cartier — jewellery and watches; based in Paris, France
  • Chloé — women's clothing; based in Paris, France
  • Dunhill — men's clothing, watches and leather goods; based in London, United Kingdom
  • Giampiero Bodino — high jewellery; based in Milan, Italy
  • IWC Schaffhausen — watches; based in Schaffhausen, Switzerland
  • Lancel — leathergoods; based in Paris, France and with, as of February 2014, Marianne Romestain as chief executive officer[10][11]
  • Jaeger-LeCoultre — watches; based in Le Sentier, Switzerland
  • Montblanc — writing instruments and watches; based in Hamburg, Germany
  • Officine Panerai — watches; based in Florence, Italy
  • Peter Millar — men's and women's apparel; based in Durham, NC, USA
  • Piaget — jewellery, watches; based in Geneva, Switzerland
  • Purdey — firearms, ammunition; based in London, United Kingdom
  • Roger Dubuis — watches; based in Geneva, Switzerland
  • Shanghai Tang — men's and women's fashions; based in Hong Kong
  • Vacheron Constantin — watches; based in Geneva, Switzerland
  • Van Cleef & Arpels — jewellery, watches; based in Paris, France

Joint ventures

Other investments

Former investments

In 2000, the Group sold its minority stake in Vivendi, representing its exit from all previous media interests, which had included NetHold and Canal+.

Richemont acquired British clothing retailer Hackett Limited in 1992.[14] On 2 June 2005, Richemont announced its sale to Spanish investment company Torreal S.C.R., S.A.[15][16]

Richemont and Mimi So formed a joint venture in 2004 ,[17][18] Richemont's first investment in an American brand.[19] In 2007, Richemont requested to become the majority partner of the joint venture. Mimi So declined and purchased Richemont's stake in the venture.

In 2008, Richemont spun off all of its non-luxury goods businesses, principally Richemont's stake in British American Tobacco, into a newly formed, separately traded holding company, Reinet Investments S.C.A.[20][21][22]

In 2015, the Net-a-Porter Group was merged with the YOOX Group in an all-share transaction. Richemont is the largest shareholder in the enlarged Group.[1][23]

Website blocking

In October 2014 the first blocking order against trademark infringing consumer goods was passed against the major UK ISPs by Richemont, Cartier International and Montblanc to block several domains selling trademark infringing products.[24]

Notes

  1. ↑ 1.00 1.01 1.02 1.03 1.04 1.05 1.06 1.07 1.08 1.09 1.10 1.11 1.12 1.13 1.14 1.15 1.16 1.17 1.18 Lua error in package.lua at line 80: module 'strict' not found.
  2. ↑ 2.0 2.1 European Sales Help Luxury Group Richemont Balance a Decline in Asia
  3. ↑ Remgro 2011.
  4. ↑ International Directory of Company Histories 2007.
  5. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  6. ↑ Domisse & Esterhuyse 2009, pp. 322-324.
  7. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  8. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  9. ↑ Swiss Exchange 2012.
  10. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  11. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  12. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  13. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  14. ↑ Menkes 2010.
  15. ↑ Butler 2005.
  16. ↑ Richemont 2005.
  17. ↑ Thompson 2004.
  18. ↑ Karimzadeh 2004.
  19. ↑ Elite Traveler 2010.
  20. ↑ Richemont 2012a.
  21. ↑ Gelnar 2007, p. A.13.
  22. ↑ Reinet 2012.
  23. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  24. ↑ Lua error in package.lua at line 80: module 'strict' not found.

References

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  • Lua error in package.lua at line 80: module 'strict' not found. (subscription required)
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External links

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