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Retail Asia22/01/2021

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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 pandemic, but the jewelry category led by Richemont’s Cartier brand has fared […]

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Retail Asia20/07/2020

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 platform did a little better. Sales at the company’s online distributors, led by Yoox Net-a-Porter, fell 42 […]

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Retail Asia05/08/2019

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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 price. The effect has not been across the board within the […]

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Retail Asia13/06/2019

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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’s brands, which include Baume & Mercier, IWC Schaffhausen, […]

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Retail Asia17/01/2019

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, respectively. But even excluding that, the sales growth was still strong at 5 per cent […]

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Retail Asia15/01/2019

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 offerings to the world’s largest luxury audience: China. As Richemont’s takeover of e-commerce giant Yoox Net-a-Porter has come […]

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Retail Asia31/12/2018

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 among the 115 members from 16 countries and regions that are a part of the IP alliance, as well as the latest from the luxury […]

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Retail Asia14/11/2018

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 into the Swiss-headquartered multibrand luxury retailers figures for the first time. […]

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Retail Asia07/11/2018

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 $9.6 billion in sales last year – just a shade behind LVMH cash cow Louis Vuitton. What’s […]

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Retail Asia06/11/2018

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 had apparently hit problems due to restrictions from the Chinese government regarding investments from overseas. Qatari […]

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Retail Asia30/10/2018

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 Net-A-Porter and Mr Porter multi-brand, in-season online stores for consumers in China. Alibaba will provide technology […]

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Retail Asia08/10/2018

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 has performed poorly during the first half of this year. Gansu Gangtai’s initial plans […]

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Retail Asia14/09/2018

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 back in 2016 as sluggish economical growth and terrorism in Europe hit sales adding to the challenge of meeting […]

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Retail Asia22/05/2018

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 rates to €10.9 billion (US$12.8 billion). Richemont’s brands […]

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Retail Asia21/05/2018

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 sales improve recently, after a prolonged downturn, but are struggling to reach young people who wear […]

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Retail Asia21/02/2018

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 not see the deal as being “synergistic” or that […]

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Retail Asia23/01/2018

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 shares in YNAP it does not already own, equivalent to half of the company. It […]

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Retail Asia15/01/2018

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 period a year earlier. Retail sales were mainly driven by […]

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Retail Asia19/12/2017

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 also expand its online sales channels, Bastagli said in Hong […]

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Retail Asia16/11/2017

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 continue to fill key roles in the company. Richemont’s relationship with Serapian dates back to the […]

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