|Traded as||SIX: CFR, JSE: CFR|
|Predecessor(s)||Rembrandt Group Limited|
|Founded||Geneva, Switzerland (1988 )|
|Key people||Johann Rupert, Executive Chairman and CEO|
|Subsidiaries||See article section|
Compagnie Financière Richemont SA is a Switzerland-based luxury goods holding company founded in 1988 by South African businessman Johann Rupert. Through its various subsidiaries, Richemont designs, manufactures, distributes and sells premium jewellery, watches, leather goods, writing instruments, firearms, clothing and accessories. Richemont is a publicly traded company listed on the SIX Swiss Exchange and on the JSE Securities Exchange.
As of November 2012[update] Compagnie Financière Richemont SA is the sixth largest corporation by market capitalization in the Swiss Market Index. As of 2009[update], Richemont is the third-largest luxury goods company in the world.
Johan Rupert founded Compagnie Financière Richemont SA in 1988 when he spun out the international assets of Rembrandt Group Ltd. (now Remgro Limited), a South Africa-based company founded in the 1940s by his father, Dr. Anton Rupert. The luxury goods investments of Rembrandt Group combined with Rothmans International formed the initial group of Richemont subsidiaires.
As of November 2012[update] Compagnie Financière Richemont SA is the sixth largest corporation by market capitalization in the Swiss Market Index. As of 2009[update], Richemont is the third-largest luxury goods company in the world, but, losing this position to PPR in 2010 trailing market leader LVMH Moët Hennessy - Louis Vuitton SA.
Compagnie Financière Richemont SA organizes its business activities into four operating divisions: Jewellery Maisons, Specialist Watchmakers, Montblanc Maison and Other Businesses. Cartier and Van Cleef and Arpels constitute the Jewellery Maisons. The Specialist Watchmakers group is composed of A. Lange & Söhne, Baume & Mercier, IWC, Jaeger-LeCoultre, Officine Panerai, Piaget, Roger DuBuis, Vacheron Constantin and the Ralph Lauren Watch & Jewelry Co. Montblanc is the sole member of the Montblanc Maison. The Other Businesses division includes Alfred Dunhill, Alaïa, Chloé, Lancel, The Net-A-Porter Group, James Purdey & Sons and Shanghai Tang.
Ownership and control
The largest significant shareholder of Compagnie Financière Richemont SA 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 SA, 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 2012.
The following companies are wholly owned subsidiaries of Compagnie Financière Richemont SA unless otherwise noted.
- Alfred Dunhill Limited — men's clothing, watches and leather goods; based in London, United Kingdom
- Baume & Mercier SA — watches; based in Geneva, Switzerland
- Société Cartier — jewellery and watches; based in Paris, France
- Chloé International — women's clothing; based in Paris, France
- IWC International Watch Co. AG — watches; based in Schaffhausen, Switzerland
- James Purdey & Sons Limited — firearms, ammunition; based in London, United Kingdom
- Lancel — leathergoods; based in Paris, France
- Lange Uhren GmbH — watches; based in Glashütte, Germany
- Maison Azzedine Alaïa — women's fashions; based in Paris, France
- Manufacture Jaeger-LeCoultre SA — watches; based in Le Sentier, Switzerland
- Manufacture Roger Dubuis SA (60%) — watches; based in Geneva, Switzerland
- Montblanc – Simplo GmbH — writing instruments and watches; based in Hamburg, Germany
- Net-a-Porter — clothing sold via the Internet; based in London, United Kingdom
- Officine Panerai Marketing e Communicazione Srl — watches; based in Florence, Italy
- Peter Millar — men's and women's apparel; based in Durham, NC, USA
- Piaget SA — jewellery, watches; based in Geneva, Switzerland
- Shanghai Tang — men's and women's fashions; based in Hong Kong, China
- Vacheron Constantin SA — watches; based in Geneva, Switzerland
- Van Cleef & Arpels SA — jewellery, watches; based in Paris, France
- Ralph Lauren Watch and Jewelry Company SÀRL (50%) — watches, jewellery; based in Geneva, Switzerland
Richemont acquired British clothing retailer Hackett Limited in 1992. After the acquisition, Hackett Limited became a wholly owned subsidiary of Richemont. On 2 June 2005, Richemont announced that it had entered into an agreement to sell Hackett Limited to Spanish investment company Torreal S.C.R., S.A.
Richemont and Mimi So formed a joint venture in 2004, planning to expand the business. This joint venture was Richemont's first investment in an American brand. In 2007, Richemont requested to become the majority partner of the joint venture. So declined and purchased Richemont's stake in the venture.
Due to changes in the tax laws of Luxemborg, Richemont decided to spin-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.
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