Delvaux news and archive

Chronic deficits and recapitalisations: The challenge of Richemont's 'Soft Luxury' division

Swiss leader Richemont, driven by the strength of its jewellery houses, is seeing the weaknesses of its fashion and accessories division intensify. Amid repeated capital injections and slowing growth, the group faces a structural profitability challenge. While the strength of Richemont's jewellery and watchmaking divisions is well-established,...

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Richemont forgives 100 million euros of debt for Belgian brand Delvaux

Belgian luxury brand Delvaux has had its financial burden lightened. Parent company Richemont has forgiven 100.6 million euros (118.7 million dollars) of its debt, according to a report by Belgian business-focussed newspaper De Tijd. The debt has been converted into shares. This move strengthens Delvaux's balance sheet. It is not the first time...

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Richemont acquires Belgian luxury goods house Delvaux

Switzerland-based luxury giant Richemont has acquired a 100 percent stake of Delvaux, the renowned Belgian luxury leather goods company, in a private transaction. Commenting on the acquisition, Philippe Fortunato, CEO of fashion and accessories maisons at Richemont, said: “Delvaux’s rich archives and creative momentum over the last 10 years...