Richemont

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Compagnie Financière Richemont SA

logo
legal form Corporation
ISIN CH0210483332
founding 1988
Seat Bellevue , SwitzerlandSwitzerlandSwitzerland 
management
Number of employees around 35,640 (2019)
sales 14 billion euros ( FY  2018/19)
Branch Luxury goods
Website www.richemont.com

The Compagnie Financiere Richemont SA is a Swiss luxury goods group based in Bellevue in the canton of Geneva , the 1988 by Anton Rupert was founded son, Johann Rupert. Over the course of time, the group has bought numerous companies whose main business areas are jewelry, watches, writing implements and clothing. The on the Swiss Exchange SIX Swiss Exchange -listedRichemont SA employs around 35,640 people, around 8,400 of whom are in Switzerland, and generated sales of 14 billion euros with a net profit of 2.79 billion euros in the 2018/19 financial year. This makes Richemont one of the largest luxury goods groups in the world. In the 2019 financial year, sales rose to 14.2 billion francs.

Companies

Ownership
9.1% Compagnie Financière Rupert (50% of the votes)
10.9% Richemont Sec.
80.0% Free float

Company history

The Richemont Group was split up from the South African Rembrandt Group Ltd. (Remgro), which Johann Rupert's father, Anton Rupert, founded in 1948. The Rembrandt Group held numerous interests in tobacco, luxury goods, finance and jewelry companies. In 1954 Rembrandt acquired a majority stake in the British tobacco company Rothmans International. In 1958, the British tobacco brand Carreras Tobacco Company was bought up and merged with Rothmans. In 1967 this bought the majority of shares in Alfred Dunhill . In 1983 Rothmans acquired a little more than 20% of the shares in the French jewelry and watch manufacturer Cartier (sold by the Cartier family from 1964 to 1968) and increased this to almost 50% by 1988. In 1988 the Rupert family decided to split off their European activities and founded Richemont SA under the direction of Johann Rupert. In the same year Cartier acquired the watch manufacturers Piaget and Baume & Mercier. In 1992 Dunhill bought the fashion brand Karl Lagerfeld from the French fashion company Cora Revillon , which in turn had acquired in 1987.

In 1993 the Dunhill Holding, which was 57% owned by Rothmans at the time - at that time consisting of Alfred Dunhill, Montblanc (acquired in 1977), Chloé (acquired in 1985), Hackett London (acquired in 1992) and Karl Lagerfeld (acquired in 1992) - merged with Cartier (47% owned by Rothmans and nearly 53% owned by Richemont) and renamed Groupe Vendôme to separate the luxury goods business from the tobacco division. Richemont then owned 62% of Rothmans and 70% of Groupe Vendôme. In 1998, the Groupe Vendôme was completely taken over by Richemont by buying up the remaining minority interests. The Karl Lagerfeld and Hackett brands were sold in 1997 and 2005, respectively. In 1999, Richemont merged its subsidiary Rothmans International with British American Tobacco and held just over 20% of the shares in the new company. From the mid to late 1990s, Richemont diversified into broadcasting (NetHold, Canal +, Vivendi), which made further investments possible. In 2000, Richemont bought Les Manufactures Horlogères (LMH) from Schaffhausen, which was acquired by Mannesmann in 1994 and to which the brands Jaeger-Lecoultre, IWC and A. Lange & Söhne belonged , for 1.8 billion euros . 2007 Richemont went to the Ralph Lauren Corporation , a joint venture one about watches. In 2008 the shares of Richemont and Remgro of around 30% in British American Tobacco were spun off into the Luxembourg investment company Reinet.

At the end of October 2019, Richemont announced a joint venture under the name AZfashion with the fashion designer Alber Elbaz , who had been fired at the end of 2015 after 14 years as creative director at Lanvin .

Subsidiaries

The following companies are now part of the Richemont Group:

All companies are 100% owned by Richemont, with the exception of Yoox-Net-A-Porter (95%) and Roger Dubuis (60%). The fashion brand Karl Lagerfeld was shut down by Groupe Vendôme in 1997 and the trademark rights were transferred to the German fashion designer. The men's clothing chain Hackett , owned by Dunhill since 1992, was sold by Richemont to the Spanish investor group Torreal ( Pepe Jeans London ) in 2005 .

Jewelers:

  • Buccellati (1919, Milan) - jewelry, watches etc. (acquired in 2019)
  • Cartier (1847, Paris) - jewelry, watches, etc.
  • Van Cleef & Arpels (1906, Paris) - jewelry, watches, etc. (acquired 1999–2003)

Watch manufacturer:

Online dealers:

  • Yoox- Net-A-Porter (2015, Milan) - luxury clothing and accessories (Richemont acquired shares in Net-A-Porter (2000, London) from 2002 to 2010; in 2015 Net-A-Porter became with Yoox (2000, Milan ) merged; in 2018 Richemont acquired Yoox-Net-A-Porter)
  • Watchfinder & Co. (2002, London) - used watches (acquired in 2018)

Fashion & Accessories:

  • Alaïa (1981, Paris) - women's designer clothes, accessories, perfume (acquired in 2007)
  • Chloé (1952, Paris) - women's designer clothing, accessories, perfume (acquired via Dunhill in 1998)
  • Dunhill (1893, London) - clothing, leather goods and tobacco products, namely tobacco pipes (acquired in 1998)
  • James Purdey & Sons (1814, London) - clothing and hunting weapons (acquired in 1994)
  • Montblanc (1906, Hamburg) - writing implements, watches, leather goods, accessories etc. (acquired via Dunhill in 1998)
  • Peter Millar (2001, Cary / North Carolina) - casual clothing for women, men and children as well as accessories (acquired in 2012)
  • Serapian (1928, Milan) - leather accessories (acquired in 2017)

former brands (selection) :

  • Hackett London (1979/1983, London) - menswear (acquired by Dunhill in 1992, sold by Richemont to Torreal in 2005)
  • Karl Lagerfeld (1984, Paris) - fashion and accessories (acquired from Dunhill in 1992, closed down in 1997 and rights transferred to Lagerfeld)
  • Lancel (1876, Paris) - leather goods (acquired in 1997, sold to Piquadro in 2018)
  • Shanghai Tang (1994, Hong Kong) - clothing for women, men and children as well as accessories (acquired from 1998-2008, sold in 2017)
  • Sulka (1895, New York City ) - men's outfitter (acquired in 1989, closed in 2001)

Web links

Commons : Richemont  - collection of images, videos and audio files

Individual evidence

  1. ↑ Richemont is growing significantly thanks to acquisitions handelszeitung.ch, May 17, 2019
  2. ↑ Richemont with significantly less profit - dividend falls. Retrieved May 16, 2020 .
  3. ↑ ROTHMANS devient actionnaire de Cartier lemonde.fr, April 4, 1983
  4. ↑ Cartier s'installe dans le "triangle d'or" lemonde.fr, October 27, 1988
  5. ↑ La société Karl Lagerfeld cesse son activité lesechos.fr, November 21, 1997
  6. ^ Mannesmann luxury watches go to Richmont welt.de, July 22, 2000
  7. ↑ Richemont says goodbye to tobacco nzz.ch, October 10, 2008
  8. ↑ Weixin Zha: Designer Alber Elbaz returns to the fashion world with Richemont's help. In: fashionunited.de. October 25, 2019, accessed November 6, 2019 .