Richemont
Strong third quarter for Richemont
The Swiss-based luxury group has reported a strong third quarter, underpinned by double-digit growth in all regions except Asia, where Mainland China remains the weak spot
Mytheresa acquires Yoox Net-a-Porter from Richemont
Richemont will sell Yoox Net-a-Porter (YNAP) to luxury e-commerce platform Mytheresa, ending years of efforts to dispose of YNAP. The transaction is expected to create a leading global multi-brand digital luxury group
Yoox Net-a-Porter to exit China
The luxury fashion e-tailer Yoox Net-a-Porter (YNAP) is believed to be in the process of closing its China operations in order to focus investment and resources on its more profitable regions
South Korean Coupang acquires Farfetch
The South Korean e-commerce giant has agreed to buy Farfetch in a bailout deal, providing the online luxury platform with 500 million USD in emergency funding. Deal to acquire a 47.5% stake in Yoox Net-a-Porter is off
Partnership between Richemont and Farfetch receives antitrust clearance
The European Commission (EC) has “unconditionally” approved Farfetch’s acquisition of a 47.5% stake in Yoox Net-a-Porter. The EC was the last regulatory authority required to give authorisation
Richemont acquires a controlling stake in the Italian shoemaker Gianvito Rossi
The Swiss-based luxury group has announced the acquisition of a controlling stake in the Italian shoemaking Maison Gianvito Rossi. The amount of the transaction was not disclosed
Gabriela Hearst leaves Chloé
The Richemont-owned luxury fashion house has confirmed that its creative director, Gabriela Hearst, will step down later this year. No reference was made to the creative succession plan
Fashion brands halt sales in Russia
Pressure has been mounting on the Fashion industry to cut off commercial trading with Russia in the aftermath of Russia’s invasion of Ukraine on the 24th of February
Richemont: profits rise despite falling sales
Despite a still uncertain economic scenario, luxury giant Richemont managed to register net profit rising by almost 40% in the fiscal year ending at the end of March 2021
Alibaba and Richemont invest in Farfetch
Hangzhou-based e-commerce business Alibaba and Swiss-based luxury goods conglomerate Richemont SA will invest 1.1 billion US dollars (0.93 billion euros) in online luxury fashion retailer Farfetch and its new Chinese market operations
Richemont: quarter sales down by 47%
During the quarter under review, the group’s trading and operations were strongly impacted by Covid-19 and sales contracted significantly across all regions, channels and business areas, notwithstanding a 49% increase in China
New appointment to Richemont Senior Executive Committee
Philippe Fortunato has been nominated to head the fashion and accessories division of the luxury group, which includes brands such as Chloé, Dunhill or Montblanc, amongst others
Richemont with two-digit sales drop
The luxury group closed the financial year with a 2% growth in sales, but the last quarter (ended 31st March 2020) was heavily impacted by Covid-19
Richemont sells Lancel to Piquadro
Switzerland-based luxury goods holding company Compagnie Financiere Richemont SA confirmed it has sold its French leather-goods subsidiary Lancel to Italian-based company Piquadro SpA
Richemont appoints Eric Vallat as Head of Fashion & Accessories
The Swiss-based luxury goods group announced the appointment of Mr Eric Vallat to the newly created role of Head of Fashion & Accessories Maisons. He has joined the Group’s Senior Executive Committee, effective since the 1st of June 2018- 1
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