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* [[Hackett (clothing store)|Hackett]] - Richemont acquired Hackett in 1992. In early June 2005 Richemont sold Hackett to Spanish investment company Torreal.
* [[Hackett (clothing store)|Hackett]] - Richemont acquired Hackett in 1992. In early June 2005 Richemont sold Hackett to Spanish investment company Torreal.
* [[Mimi So|Mimi So Fine Jewelery]] - In 2004, Mimi So sold a stake in her business to Richemont, forming a partnership.{{Sfn|Thompson|2004}} In 2007, So declined Richemont's request to take a majority position in the partnership, purchased Richemont's stake and exited the partnership.{{Sfn|Elite Traveler|2010}}
* [[Mimi So|Mimi So International]]<ref>{{cite web|url=http://appext9.dos.ny.gov/corp_public/CORPSEARCH.ENTITY_INFORMATION?p_nameid=3014202&p_corpid=2993557&p_entity_name=Mimi%20So&p_name_type=%25&p_search_type=BEGINS&p_srch_results_page=0|title=NY Dept of State Registration, Dec 30, 2003}}</ref> and Mimi So Japan<ref>{{cite web|url=http://www.japantimes.co.jp/text/fv20050121a1.html|title=Japan Times - Mimi So boutique in Mitsukoshi}}</ref> - Richemont and Mimi So formed a joint venture in 2004<ref>{{cite web|url=http://www.wwd.com/beauty-industry-news/financial/richemont-acquires-stake-in-mimi-so-1490585|title=WWD - Richemont Acquires Stake in Mimi So}}</ref>, with the plan to launch the New York designer's jewelry boutiques in New York, Tokyo<ref>{{cite web|url=http://www.professionaljeweler.com/archives/news/2004/021804story.html|title=Professional Jeweler article: Richemont Partners with Mimi So}}</ref> and Beverly Hills CA.<ref>{{cite web|url=http://books.google.com/books?id=WF8EAAAAMBAJ|title=Los Angeles Magazine, Dec 2005, Page 89}}</ref> In 2007, So declined Richemont's request to take a majority position in the partnership, purchased Richemont's stake and exited the partnership.{{Sfn|Elite Traveler|2010}}
* [[Reinet Investments|Reinet Investments S.C.A.]] 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|Reinet Investments S.C.A.]]{{Sfn|Richemont|2012a}}{{Sfn|Reinet|2012}}
* [[Reinet Investments|Reinet Investments S.C.A.]] 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|Reinet Investments S.C.A.]]{{Sfn|Richemont|2012a}}{{Sfn|Reinet|2012}}


Revision as of 06:58, 19 November 2012

For other uses, see Richemont (disambiguation).
Compagnie Financière Richemont SA
Company typePublic
SIX: CFR, JSE: CFR[1]
IndustryRetail
PredecessorRembrandt Group Limited[2]
FoundedGeneva, Switzerland (1988 (1988))[3]
FounderJohann Rupert[3]
Headquarters
Bellevue
,
Switzerland[4]
Area served
Worldwide
Key people
Johann Rupert, Executive Chairman and CEO[5]
ServicesManagement
Revenue
  • Increase €8.867 billion (2012)
  • €6.892 billion (2011)
[6]
  • Increase €2.040 billion (2012)
  • €1.355 billion (2011)
[6]
  • Increase €1.540 billion (2012)
  • €1.079 billion (2011)
[6]
Total assets
  • Increase €11.753 billion (2012)
  • €9.693 billion (2011)
[7]
Total equity
  • Increase €8.618 billion (2012)
  • €6.992 billion (2011)
[7]
OwnerCompagnie Financière Rupert (9.1%)[4]
Number of employees
  • Increase 24,609 (2012)
  • 21,387 (2011)
[8]
Divisions
  • Jewellery Maisons
  • Specialist Watchmakers
  • Montblanc Maison
  • Other Businesses
[9]
Subsidiaries
List
Websiterichemont.com

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 jewelery, watches, leather goods, writing instruments, clothing and accessories. Richemont is a publicly-traded company listed on the SIX Swiss Exchange and on the JSE Securities Exchange.

As of 2009, Richemont is the second-largest luxury goods company in the world.

History

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.[10][11] The luxury good investments of Rembrandt Group combined with Rothmans International formed the initial group of Richemont subsidiaires.[2][3][12]

In March 2007, Richemont and Polo Ralph Lauren Inc. announced the formation of a 50/50 joint venture, the Polo Ralph Lauren Watch and Jewelery Company SÀRL.[13]

Compagnie Financière Richemont SA is the eighth biggest company in the Swiss Market Index.[citation needed] As of 2009, Richemont is the second-largest luxury goods company in the world, trailing market leader LVMH Moët Hennessy - Louis Vuitton SA.[14]

Organization

Compagnie Financière Richemont SA organizes its business activities into four subsidiary groups: Jewellery Maisons, Specialist Watchmakers, Montblanc Maison and Other Businesses.[15] 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 & Jewelery 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.[16]

Ownership and control

The largest significant shareholder of Compagnie Financière Richemont SA is Compagnie Financière Rupert, a Swiss company that hold 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.[4]

Investments

Subsidiaries

The following companies are wholly owned subsidiaries of Compagnie Financière Richemont SA unless otherwise noted.[17]

Joint ventures

  • Ralph Lauren Watch and Jewelry Company SÀRL (50%) — watches, jewelery; based in Geneva, Switzerland[17]

Former investments

  • Hackett - Richemont acquired Hackett in 1992. In early June 2005 Richemont sold Hackett to Spanish investment company Torreal.
  • Mimi So Fine Jewelery - In 2004, Mimi So sold a stake in her business to Richemont, forming a partnership.[18] In 2007, So declined Richemont's request to take a majority position in the partnership, purchased Richemont's stake and exited the partnership.[19]
  • Reinet Investments S.C.A. 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.[2][20]

References

  1. ^ Richemont 2012, p. 39.
  2. ^ a b c Richemont 2012a.
  3. ^ a b c Richemont 2012, p. 42.
  4. ^ a b c Richemont 2012, p. 38.
  5. ^ Richemont 2012, p. 2.
  6. ^ a b c Richemont 2012, p. 28.
  7. ^ a b Richemont 2012, p. 54.
  8. ^ Richemont 2012, p. 91.
  9. ^ Richemont 2012, p. 32.
  10. ^ Remgro 2011.
  11. ^ International Directory of Company Histories 2007.
  12. ^ Domisse & Esterhuyse 2009, pp. 322–324.
  13. ^ Richemont 2010.
  14. ^ Campbell & Mulier 2009.
  15. ^ DeMarco 2012.
  16. ^ Richemont 2012, p. 21.
  17. ^ a b Richemont 2012, p. 106.
  18. ^ Thompson 2004.
  19. ^ Elite Traveler 2010.
  20. ^ Reinet 2012.
  • Campbell, Keith; Mulier, Thomas (2009-11-13). "Hyperinflation Worries? Buy My Jewelry, Richemont's Rupert Says". Bloomberg Businessweek. Bloomberg LLC. ISSN 0007-7135. Archived from the original on 2012-11-03. Retrieved 2012-11-03. {{cite web}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)
  • DeMarco, Anthony (2012-01-16). "Richemont Q3 Revenue Soars 24%". forbes.com. Forbes.com LLC. ISSN 0015-6914. Archived from the original on 2012-11-03. Retrieved 2012-11-03. {{cite web}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)CS1 maint: ref duplicates default (link)
  • Dommisse, Ebbe; Esterhuyse, Willie (2009). Anton Rupert, A Biography. Cape Town, South Africa: Tafelberg Publishers. ISBN 9780624048190.
  • Thompson, Michael (2004-02-18). "Richemont Partners with Mimi So". professionaljeweler.com. Archived from the original on 2012-11-16. Retrieved 2012-11-16. {{cite web}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)CS1 maint: ref duplicates default (link)
  • "About Reinet Investments S.C.A". reinet.com. Reinet Investments S.C.A. 2012. Archived from the original on 2012-11-16. Retrieved 2012-11-16. {{cite web}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)
  • "Company History". remgro.com. Remgro Group. 2011. Archived from the original on 2012-11-03. Retrieved 2012-11-03. {{cite web}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)
  • "History, including Significant Investments and Divestments". richemont.com. Compagnie Financière Richemont S.A. 2012. Archived from the original on 2012-11-03. Retrieved 2012-11-03. {{cite web}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)
  • International Directory of Company Histories. Vol. 50. Farmington Hills, Michigan: St. James Press. 2007. ISBN 9781558627031. {{cite book}}: |access-date= requires |url= (help); Unknown parameter |month= ignored (help)
  • "Leaders In Luxury - Mimi So". elitetraveler.com. Elite Traveler. 2010. Archived from the original on 2012-11-16. Retrieved 2012-11-16. {{cite web}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)
  • "Our Businesses". richemont.com. Compagnie Financière Richemont S.A. 2011. Archived from the original on 2011-01-15. Retrieved 2011-01-15. In 2007, Compagnie Financière Richemont SA and Ralph Lauren combined their expertise to create the Ralph Lauren Watch & Jewelry Company in a joint-venture. {{cite web}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)
  • Richemont Annual Report and Accounts 2012. Compagnie Financière Richemont S.A. 2012-05-16. ISBN 9782970070948. Archived from the original (PDF) on 2012-11-03. Retrieved 2012-11-03. {{cite book}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)
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