Richemont

Johann Rupert founded Compagnie Financière Richemont S.A. when he spun off the international assets of Rembrandt Group Ltd. (now Remgro Limited), a South Africa-based company founded in the 1940s by his father, Anton Rupert.[4][5] The division, originally founded on 5 March 1979 as Intercontinental Mining and Resources S.A., was later renamed IMR Group S.A. on 31 March 1987 and finally Richemont S.A. on 17 August 1988. The spin-off was completed on 20 September 1988. The luxury goods investments of Rembrandt Group combined with Rothmans International formed the initial group of Richemont subsidiaries.[6][7]

In March 2007, Richemont and Polo Ralph Lauren Inc. announced the formation of a 50/50 joint venture, the Polo Ralph Lauren Watch and Jewelry Company SÀRL.[8]

In October 2008, the Group divested all of its remaining interests in the tobacco industry.[9]

As of November 2012, Compagnie Financière Richemont S.A. is the sixth largest corporation by market capitalization in the Swiss Market Index.[10] As of 2014, Richemont is the second-largest luxury goods company in the world after LVMH.[11]

The compensation of the Richemont group's executives increased by an average of 14% in 2018.[12]

Compagnie Financière Richemont S.A. organizes its business activities into three operating divisions: Jewellery Maisons, Specialist Watchmakers and Other Businesses.[1]

Cartier, Van Cleef & Arpels, and Buccellati constitute the Jewellery Maisons.

The Specialist Watchmakers group is composed of A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Officine Panerai, Piaget, Roger Dubuis, Vacheron Constantin and the joint venture with the Ralph Lauren Watch & Jewelry Co.

The Other Businesses division includes Azzedine Alaïa, Chloé, Delvaux, Dunhill, Montblanc, Peter Millar, and Purdey.[1]

The largest significant shareholder of Compagnie Financière Richemont S.A. is Compagnie Financière Rupert, a Swiss company that holds shares controlled and principally owned by Johann Rupert. Compagnie Financière Rupert owns 522,000,000 Class "B" shares of Compagnie Financière Richemont S.A., representing 9.1% of the equity and 50% of the voting rights. Johann Rupert and Compagnie Financière Rupert also hold 2,836,664 class "A" shares or "A" share equivalents as of the end of March 2016.[13]

Richemont acquired British clothing retailer Hackett Limited in 1992.[20] On 2 June 2005, Richemont announced its sale to Spanish investment company Torreal S.C.R., S.A.[21][22]

In 1998, Richemont bought a controlling stake in Shanghai Tang.[23] In July 2017, Richemont announced that it had sold Shanghai Tang to a group of investors headed by Italian entrepreneur Alessandro Bastagli.[24][25]

In 2000, the Group sold its minority stake in Vivendi, representing its exit from all previous media interests, which had included NetHold and Canal+.

Richemont and Mimi So formed a joint venture in 2004,[26][27] Richemont's first investment in an American brand.[28] In 2007, Richemont requested to become the majority partner of the joint venture. Mimi So declined and purchased Richemont's stake in the venture.

In 2008, Richemont spun off all of its non-luxury goods businesses, principally Richemont's stake in British American Tobacco, into a newly formed, separately traded holding company, Reinet Investments S.C.A.[29][30][31]

In 2015, the Net-a-Porter Group was merged with the YOOX Group in an all-share transaction. Richemont is the largest shareholder in the enlarged group.[1][32]

In 2018, Richemont sold Lancel to the Italian leather goods company Piquadro Group.

In October 2014, the first blocking order against trademark-infringing consumer goods was passed against the major British Internet service providers by Richemont, Cartier International and Montblanc to block several domains selling trademark-infringing products.[33]

• Official website