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Double-digit growth in Mainland China, Hong Kong, Korea and Macau have helped boost sales for Swiss luxury goods group Richemont. Results for the year to the end of March show Richmont sales grew by 3 per cent at actual rates and by 8 per cent at constant…
Luxury goods group Richemont has launched a new watch brand, Baume, offering trendy time pieces priced in the hundreds rather than the thousands of dollars to lure young people away from their smartphones for reading the time. Swiss watchmakers have seen…
Richemont’s takeover bid for Yoox Net-a-Porter (YNAP) has been handed some uncertainty amid reports that a long term shareholder will vote against it. US-based value investor Robotti & Co – which has a stake of less than one per cent in the YNAP Group – did…
Swiss luxury goods holding company Richemont has moved to take full ownership of e-commerce company Yoox Net-a-Porter (YNAP). Nearly three years after Richemont merged Net-a-Porter with Italian rival Yoox, the company has made a public tender offer to buy the…
Asia Pacific has continued double-digit growth for heritage brand owner Richemont for its third quarter to the end of December. Total sales in the quarter increased by 7 per cent at constant exchange rates and by 1 per cent at actual rates over the same…
Hong Kong fashion brand Shanghai Tang is to go global with stores in Paris and Milan as well as more cities in Mainland China over the next two years. Bought by Italian textile businessman Alessandro Bastagli and other investors on June 30, the company will…
Swiss luxury goods holding company Richemont Group has bought out Italian leather supplier Serapian, with the purchase price not disclosed. A managing director is to be appointed, with the founding Serapian family no longer a stakeholder. However, it will…
Asia Pacific sales accounted for 39 per cent of group sales for Swiss luxury-goods holding company Richemont for its half-year to September 30. Sales in Asia Pacific rose by by 25 per cent, with double-digit growth in most markets led by Mainland China, Hong…
With demand picking up for high-end watches, Swiss luxury goods company Richemont Group says it expects an 80 per cent increase in net profit for the six months to the end of September. After a collapse of the Hong Kong market, Richemont was forced to buy…
Richemont has sold Hong Kong-based dressmaker Shanghai Tang, showing that a Chinese name still doesn’t have the same ring to luxury shoppers as a French or Italian one. Italian fashion entrepreneur Alessandro Bastagli and private equity fund Cassia…
In big breaking news, Richemont Luxury Group has taken a stake of just over 5% stake in the world’s leading travel retailer Dufry. Under Swiss Stock Exchange (SIX) regulations, any holding of more than 3.0% must be publicly disclosed with 24 hours. Richemont…
One year after a “garage” pop-up store in Paragon Singapore, British men’s luxury brand Alfred Dunhill has opened its first-ever concept store. Its fourth outlet in Singapore brings to life the brand’s heritage of motoring, saddlery and gentlemanly inventions…
With Chinese shoppers buying fewer watches, Richemont sales continue to slide, prompting the luxury brand owner to announce uncharacteristically radical moves. While continuing to cull its store network, Richemont has axed its CEO role, placing more…
Rebounding luxury goods sales in Mainland China and improvements in Hong Kong have boosted third-quarter Hermes results. Analysts are pointing to these and last week’s strong Kering numbers in tipping the worst may now be over for both luxury markets. Hermes…
Luxury goods maker Richemont said on Wednesday that it expected operating profit in the six months to September to decline by 45% from a year ago. The Luxembourg-and JSE-listed group said in a statement that the decline reflected the effect of one-off…
Italian online fashion retailer Yoox Net-A-Porter (YNAP) aims to double sales and boost profits by 2020 as it expands in new markets, including Asia, but says it is still committed to Britain despite the vote to leave the European Union. The group says it is…
