Richemont news and archive

Richemont chairman hopeful of negotiated solution on US tariffs

Zurich - Richemont chairman Johann Rupert expressed optimism for a negotiated solution regarding US tariffs on Swiss goods. He stated on Wednesday that the luxury group remains "well-positioned" for the long term. "I am in contact with the Swiss government and the heads of the negotiations in the US", Rupert said at the annual general meeting in...

Culture

New book from Federico Marchetti, "The Geek of Chic," set for September release

Federico Marchetti's new book, with a foreword by Giorgio Armani, will be released in English on September 9th. The book, "The Geek of chic: an american dream italian style" (304 pages, 18.99 dollars), is published by the American publisher Post Hill Press. The book is described as an "inspiring story full of successes, mistakes, honesty and...

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Business

Richemont starts financial year with sales growth

Jewellery and watch group Richemont increased sales in the first three months of the 2025/26 financial year. The important Asian market is also showing signs of stabilisation. This comes after the company, like many other luxury companies, felt the effects of a recent consumer slump in China. Between April and June, Richemont's sales increased...

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Business

Richemont stock rises following Third Point investment rumours

Richemont surged on the Swiss stock exchange on Monday on press reports that the US activist hedge fund Third Point has bought a stake in the luxury goods group. According to the Financial Times newspaper and the Miss Tweed online news portal, the New York-based hedge fund founded by US activist investor Daniel Loeb has bought into the...

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Business

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...

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Business

Richemont posts sales growth, profit increases 38 percent

Richemont’s fourth quarter sales increased by 30 percent and 36 percent, at actual and constant exchange rates, respectively. Overall, the company said that the decline in sales for the year was contained to 8 percent at actual exchange rates and to 5 percent at constant exchange rates to 13, 144 million euros. Profit for the year increased by...

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People|Breaking News

Alber Elbaz dies from Covid-19

Alber Elbaz, the designer best known for his feminine, whimsical collections at Lanvin, has suddenly died at the age of 59. Industry sources say Elbaz was ill with Covid-19 for three weeks. Elbaz had only recently launched AZ Factory, backed by Swiss-based luxury group Richemont. “We are devastated – Alber passed away from Covid after being in...

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Business

LVMH, Prada and Cartier join forces to form blockchain consortium

Fashion conglomerate LVMH is joining forces with the Prada Group and Cartier, part of Richemont, to form the Aura Blockchain Consortium to address the “shared challenges” of communicating authenticity, responsible sourcing and sustainability in a secure digital format. The move marks the first global blockchain consortium dedicated to the luxury...

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Business

Net-a-Porter launches localised site for Middle East

Leading luxury pureplayer Net-a-Porter has launched a localised site and app for the Middle Eastern market. The dual-language site will be available in both Arabic and English and will encompass local editorial content and product curation. Customers can shop curated edits in local currencies, as well as consult specialised personal shopping....

People

Maison Alaïa appoints Pieter Mulier as Creative Director

Paris-based fashion house Alaïa has appointed Belgian designer Pieter Mulier as its new creative director. A significant appointment, it is the brand’s first creative head since the passing of founder Azzedine Alaïa in November 2017. The Richemont-owned Maison made the announcement on Friday, with Mulier’s first collection to debut for Spring...

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Fashion

Alber Elbaz returns to fashion with AZ Factory

Alber Elbaz marked his return to fashion with his start-up AZ Factory with a personality-filled digital presentation during Paris Haute Couture Week. Offering what he calls a “digital entertainment take on luxury,” Elbaz used his presentation to share not only his fashion creations but also the ethos of the company, “smart fashion that cares”. “...

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Business

Growth in Asia drives 5 percent sales increase at Richemont

For the third quarter to December 31, 2020, sales at Compagnie Financière Richemont SA increased by 1 percent at actual exchange rates and by 5 percent at constant exchange rates to 4,186 million euros compared to the prior year period. In the nine-month period, the company recorded sales decrease of 16 percent at actual exchange rates and by 14...