|Predecessor||Rembrandt Group Limited|
|Founded||Geneva, Switzerland (1988 )|
|Johann Rupert (Chairman)|
Jérôme Lambert (Group CEO)
|Revenue||€13.14 billion (2021)|
|€1.48 billion (2021)|
|€1.29 billion (2021)|
|Total assets||€35.36 billion (2021)|
|Total equity||€17.88 billion (2021)|
|Owner||Compagnie Financière Rupert (Rupert family) (9.1% equity, 50% voting power)|
Number of employees
|Subsidiaries||See article section|
Compagnie Financière Richemont S.A., commonly known as Richemont, is a Switzerland-based luxury goods holding company founded in 1988 by South African businessman Johann Rupert. Through its various subsidiaries, Richemont produces and sells jewellery, watches, leather goods, pens, firearms, clothing, and accessories. Richemont is publicly traded as CFR on the SIX Swiss Exchange and the JSE.
The brands it owns include A. Lange & Söhne, Azzedine Alaïa, Baume & Mercier, Buccellati, Cartier, Chloé, Dunhill, IWC Schaffhausen, Giampiero Bodino, Jaeger-LeCoultre, Montblanc, Officine Panerai, Piaget, Peter Millar, Purdey, Roger Dubuis, Vacheron Constantin, Van Cleef & Arpels and Delvaux.
As of November 2012[update], Compagnie Financière Richemont S.A. was the sixth-largest corporation by market capitalization in the Swiss Market Index. As of 2017, Richemont was the third-largest luxury goods company in the world after LVMH and Estée Lauder Companies.
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. 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.
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.
In October 2008, the Group divested all of its remaining interests in the tobacco industry.
As of November 2012[update], Compagnie Financière Richemont S.A. is the sixth largest corporation by market capitalization in the Swiss Market Index. As of 2014, Richemont is the second-largest luxury goods company in the world after LVMH.
The compensation of the Richemont group's executives increased by an average of 14% in 2018.
Compagnie Financière Richemont S.A. organizes its business activities into three operating divisions: Jewellery Maisons, Specialist Watchmakers and Other Businesses.
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.
Ownership and control
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.
The following companies are wholly owned subsidiaries of Compagnie Financière Richemont S.A., unless otherwise noted.
- A. Lange & Söhne — watches; based in Glashütte, Germany
- Azzedine Alaïa — women's fashions; based in Paris, France
- BAUME — watches; based in Geneva, Switzerland 
- Buccellati — fine jewellery and watches; based in Milan, Italy
- Giampiero Bodino — fine jewellery; based in Milan, Italy
- IWC Schaffhausen — watches; based in Schaffhausen, Switzerland
- Jaeger-LeCoultre — watches; based in Le Sentier, Switzerland
- Officine Panerai — watches; based in Geneva, Switzerland
- Peter Millar — men's and women's apparel; based in Raleigh, North Carolina, U.S.
- Purdey — firearms, clothing, gifts, leather goods, Royal Berkshire Shooting School; based in London, United Kingdom
- Roger Dubuis — watches; based in Geneva, Switzerland
- Van Cleef & Arpels — jewellery, watches; based in Paris, France
- Vendôme Luxury Group, including:
- Baume & Mercier — watches; based in Geneva, Switzerland
- Cartier — jewellery and watches; based in Paris, France
- Chloé — women's clothing; based in Paris, France
- Dunhill — men's clothing, watches and leather goods; based in London, United Kingdom
- Montblanc — writing instruments and watches; based in Hamburg, Germany
- Piaget — jewellery, watches; based in Geneva, Switzerland
- Vacheron Constantin — watches; based in Geneva, Switzerland
- Watchfinder & Co. — second-hand watches; based in Kings Hill, United Kingdom
- Ralph Lauren Watch and Jewelry Co. (50%) — watches and jewellery; based in Geneva, Switzerland.
- YOOX NET-A-PORTER GROUP — ecommerce; based in Milan, Italy.
Richemont acquired British clothing retailer Hackett Limited in 1992. On 2 June 2005, Richemont announced its sale to Spanish investment company Torreal S.C.R., S.A.
In 1998, Richemont bought a controlling stake in Shanghai Tang. In July 2017, Richemont announced that it had sold Shanghai Tang to a group of investors headed by Italian entrepreneur Alessandro Bastagli.
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, Richemont's first investment in an American brand. 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.
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.
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.
- ^ a b c d e f "Richemont Annual Report and Accounts 2015" (PDF). Richemont.com. Retrieved 5 June 2015.
- ^ a b c d e f "Annual Report 2020" (PDF). Richemont. Retrieved 12 April 2022.
- ^ Global Powers of Luxury Goods 2019
- ^ Remgro 2011.
- ^ International Directory of Company Histories 2007.
- ^ Richemont. "History, including Significant Investments and Divestments". Retrieved 7 January 2017.
- ^ Domisse & Esterhuyse 2009, pp. 322–324.
- ^ "Richemont and Polo Ralph Lauren announce the formation of The Polo Ralph Lauren Watch and Jewellery Company". Richemont.com. Retrieved 5 March 2007.
- ^ "Richemont to Spin Off Its Tobacco Holdings". The Wall Street Journal. Retrieved 2 August 2008.
- ^ Swiss Exchange 2012.
- ^ European Sales Help Luxury Group Richemont Balance a Decline in Asia
- ^ "Salaires en hausse pour les dirigeants de Richemont". Le Temps. 29 May 2019.
- ^ "Richemont Company Announcement issued on 20 May 2016" (PDF). Richemont. Retrieved 20 May 2016.
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- ^ "Richemont lance Baume, une nouvelle marque de montres". Archived from the original on 15 February 2019. Retrieved 15 February 2019.
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- ^ Butler 2005.
- ^ Richemont 2005.
- ^ Mulier, Thomas (3 July 2017). "Richemont Sells Shanghai Tang as China Prefers Foreign Swank". Bloomberg.com. Retrieved 31 March 2019.
- ^ Muret, Dominique (6 December 2018). "Chinese label Shanghai Tang sold to Lunar Capital group". Fashion Network. Retrieved 31 March 2019.
- ^ Segreti, Giulia (21 February 2018). "Italian investor looks to rev up Shanghai Tang sales". Reuters. Retrieved 27 May 2019.
- ^ Thompson 2004.
- ^ Karimzadeh 2004.
- ^ Elite Traveler 2010.
- ^ Richemont 2012a.
- ^ Gelnar 2007, p. A.13.
- ^ Reinet 2012.
- ^ Richemont, Richemont. "Merger of Net-A-Porter with YOOX completed with a significant one-off accounting gain estimated between € 610 and € 670 million". Retrieved 5 October 2015.
- ^ Little, Trevor. "Landmark judgment handed down in dispute between Richemont and ISPs". Retrieved 17 October 2014.
- Butler, Sarah (3 June 2005). "Spanish buy Hackett for 15m". The Times. London: Times Newspapers Ltd. ISSN 0140-0460. OCLC 488231355. Retrieved 3 November 2012. (subscription required)
- Campbell, Keith; Mulier, Thomas (13 November 2009). "Hyperinflation Worries? Buy My Jewelry, Richemont's Rupert Says". Bloomberg Businessweek. Bloomberg. ISSN 0007-7135. Archived from the original on 1 November 2013. Retrieved 3 November 2012.
- DeMarco, Anthony (16 January 2012). "Richemont Q3 Revenue Soars 24%". Forbes. ISSN 0015-6914. Archived from the original on 18 November 2012. Retrieved 3 November 2012.
- Dommisse, Ebbe; Esterhuyse, Willie (2009). Anton Rupert, A Biography. Cape Town, South Africa: Tafelberg Publishers. ISBN 9780624048190.
- Gelnar, Martin (20 November 2007). "Richemont Raises Profile With Tobacco-Spinoff Plan". Wall Street Journal. New York: Dow Jones & Company. p. A.13. ISSN 0099-9660. Archived from the original on 9 February 2013. Retrieved 21 November 2012. (subscription required)
- Karimzadeh, Marc (4 January 2004). "Richemont Acquires Stake in Mimi So". Women's Wear Daily. New York: Condé Nast Publications. 187 (8): 3. ISSN 0043-7581. Retrieved 21 November 2012.
'We are confident with the backing of Richemont, Mimi So will grow at both retail and wholesale,' [Ed McQuigg] said....We are confident her philosophy and unparalleled talent will translate into significant brand expansion both domestically and internationally for Mimi So.'(subscription required)
- Menkes, Suzy (11 January 2010). "Hackett: A 'Heritage' That's Oh-So-British". The New York Times. New York. ISSN 0362-4331. OCLC 1645522. Archived from the original on 14 May 2012. Retrieved 18 November 2012.
- Thompson, Michael (18 February 2004). "Richemont Partners with Mimi So". Professional Jeweler. Philadelphia: Bond Communications/The Industry Group. ISSN 1097-5314. OCLC 38172124. Archived from the original on 22 December 2010. Retrieved 16 November 2012.
- "About Reinet Investments S.C.A". reinet.com. Reinet Investments. 2012. Archived from the original on 26 June 2012. Retrieved 16 November 2012.
- "Compagnie Financiere Richemont". Gale Business Insights: Essentials. Gale. 2012. OCLC 798738293. Retrieved 21 November 2012. (subscription required)
- "Company History". remgro.com. Remgro Group. 2011. Archived from the original on 28 October 2012. Retrieved 3 November 2012.
- "History, including Significant Investments and Divestments". richemont.com. Compagnie Financière Richemont. 2012. Archived from the original on 28 October 2012. Retrieved 3 November 2012.
- International Directory of Company Histories. Vol. 50. Farmington Hills, Michigan: St. James Press. June 2007. ISBN 9781558627031.
- "Leaders In Luxury - Mimi So". elitetraveler.com. Elite Traveler. 2010. Archived from the original on 22 January 2013. Retrieved 16 November 2012.
- "Our Businesses". richemont.com. Compagnie Financière Richemont. 2011. Archived from the original on 2 January 2011. Retrieved 15 January 2011.
In 2007, Compagnie Financière Richemont SA and Ralph Lauren combined their expertise to create the Ralph Lauren Watch & Jewelry Company in a joint-venture.
- Richemont Annual Report and Accounts 2012 (PDF). Compagnie Financière Richemont. 16 May 2012. ISBN 9782970070948. Archived (PDF) from the original on 14 March 2016. Retrieved 3 November 2012.
- "Richemont sells Hackett Limited to Torreal, S.A." richemont.com. Compagnie Financière Richemont. 2 June 2005. Archived from the original on 10 March 2013. Retrieved 18 November 2012.
- "SMI – the Blue-Chip Index". six-swiss-exchange.com. SIX Swiss Exchange. 2012. Archived from the original on 29 October 2012. Retrieved 23 November 2012.
- Luxury brand holding companies
- Companies based in Geneva
- Holding companies established in 1988
- Watchmaking conglomerates
- Watch manufacturing companies of Switzerland
- Multinational companies headquartered in Switzerland
- Companies listed on the SIX Swiss Exchange
- Companies listed on the Johannesburg Stock Exchange