Topic
40 stories in this topic
Luxury jewelry brand Cartier has announced the appointment of Damien Licciardi as the Managing Director (MD) for its operations in Thailand. This appointment is effective immediately. Licciardi’s Professional Background Damien Licciardi steps into the role of…
Switzerland’s luxury conglomerate Richemont has transferred the ownership of the distinguished watchmaker Baume & Mercier to Damiani Group of Italy. The financial details of this transaction remain undisclosed. Merging Into Damiani’s Luxury Portfolio…
The Swiss luxury conglomerate, Richemont, reported a six per cent increase in quarterly sales, attributing the growth to the continued popularity of its fine jewelry brands, Cartier and Van Cleef & Arpels, among affluent consumers. Quarterly Sales Figures For…
Richemont, maker of brands Cartier and Van Cleef & Arpels, on Wednesday posted a 5% increase in quarterly sales led by strong growth at its jewelry brands in Asia Pacific and the Middle East. Luxury watch sales have contracted sharply during the COVID-19…
After dismal updates from luxury goods groups this week, the company behind Cartier could be forgiven for a 47-per-cent slump in sales in its first financial quarter, writes Bloomberg’s Andrea Felsted. More disappointing is that Richemont’s powerful digital…
Protests in Hong Kong have likely contributed to an unexpected drop in revenues for Richemont sales in a key luxury market. The Cartier timepiece brand owner saw a 2-per-cent drop in sales in the last quarter and experienced a 3.9-per-cent fall in its stock…
Richemont has brushed aside the gloom and doom of the global watch market, reporting sales of its watches and jewelry grew by 10 percent in the year to March. While figures for Swiss watch exports show sluggish sales to Hong Kong and the US this year,…
Richemont Group sales soared 24 per cent in December quarter, to €3.915 billion. It was largely down to the inclusion of online acquisitions Yoox-Net-A-Porter (YNAP) and Watchfinder, which were consolidated into the group’s accounts on May 1 and June 1,…
While 2018 saw several luxury conglomerates consolidating their empires through brand acquisitions, others like Yoox Net-a-Porter looked to strategic partnerships. With the new Richemont and Alibaba deal, the company is now able to better bring its retail…
Global luxury group Richemont has joined the Alibaba Anti-Counterfeiting Alliance, a partnership between the e-commerce giant and brands that works to protect intellectual property rights on Alibaba’s platforms. Geneva, Switzerland-based Richemont is now…
Richemont sales in Asia Pacific surged 20 per cent in the first half of this year with the region the group’s single-largest market, accounting for 37 per cent of total sales. The increase was fuelled by the inclusion of the Yoox Net-A-Porter (YNAP) business…
Last month, Chanel reported its financials for the first time in its 108-year history, lifting the company’s traditional veil of secrecy, in part, to quash speculation that it could be acquired. The disclosure revealed that the French luxury giant generated…
Richemont group is in talks to buy Italian jewellery brand Buccellati from its new Chinese owner, according to reports from the Italian press this week. The italian press has reported the Milanese brand was being negotiated for sale with Richemont. The deal…
Alibaba is to launch Yoox Net-A-Porter China after entering into a partnership with Yoox’s owner, Swiss luxury fashion group Richemont. Under the partnership, YNAP and Alibaba will establish a joint venture (JV) to launch two mobile apps for YNAP’s…
Swiss luxury holding firm Richemont is in talks to acquire jewellery manufacturer Buccellati from Chinese holding company Gansu Gangtai. The Chinese company took an 85 per cent shareholding in the Italian company a year ago for US$226 million, but the brand…
On Monday, after holding the post vacant for almost two years, Richemont Group has appointed Group Chief Operating Officer, Jérôme Lambert, as Group Chief Executive Officer with immediate effect. Swiss watch and jewellery companies went through hard times…
