Following its 2022 annual general meeting, luxury conglomerate Richemont has announced that its shareholders have voted in favour of the re-appointment of all board members who had stood for re-election this year. The move follows tension between the group and its activist investor Bluebell Capital Partners, which had put forward Francesco...
Sep 8, 2022
Luxury conglomerate Richemont has confirmed that it is selling its stake in online fashion retailer Yoox Net-A-Porter (YNAP) to Farfetch and Alabbar, while also announcing its brands and YNAP will be switching to Farfetch Platform Solutions as part of its Luxury New Retail vision. Richemont said in a statement that Farfetch will acquire a 47.5...
Aug 24, 2022
Johann Rupert, the chairman of luxury conglomerate Richemont, has slammed an activist shareholder’s proposal to nominate former Bulgari CEO Francesco Trapani to its board. Fund manager Bluebell proposed that, alongside the board election, the company designated Trapani as representative of all holders of the company’s ‘A’ shares. In a letter to...
Aug 15, 2022
Luxury group Richemont has requested for its shareholders to vote against a candidate backed by its activist investor Bluebell Capital Partners. The request comes ahead of the group’s annual general meeting, set to be held on September 7. Bluebell said it is hoping to gain a board seat for Francesco Trapani, the former head of Bulgari and the...
Aug 8, 2022
The Watch and Jewellery initiative 2030 (WJI2030), a sustainable collaboration founded by Cartier, Richemont and Kering in October 2021, has appointed Iris Van der Veken as executive director and secretary general. Van der Veken has more than twenty years of experience in the jewellery, fashion and technology industries and was the former...
Jul 25, 2022
Compagnie Financière Richemont has said that Bluebell Capital Partners, a fund manager, has requested a number of board changes be added to the agenda for the luxury conglomerate’s upcoming annual meeting. As part of its request, Bluebell is asking that the company designates a representative of the holders of ‘A’ shares, which are listed on the...
Jul 19, 2022
Luxury conglomerate Richemont has announced that its former deputy chairman, Maître Jean-Paul Aeschimann, has passed away. Aeschimann served in his role on the group’s board of directors for 22 years, from its foundation in 1988 to 2010. During his time at the company, he was also chairman of the audit committee and a member of the compensation...
Jul 1, 2022
Swiss luxury group Richemont has released its annual Sustainability Report, sharing details of its ongoing Environmental, Social and Governance (ESG) performance for the past year and its achievements in the area. Its position in ESG has been driven by new appointments within its leadership team, including the introduction of a chief...
Jun 2, 2022
Share in Richemont fell sharply on Friday, the lowest in two years since the pandemic, after the luxury group missed expectations and failed to address the uncertainty regarding its divestment of YNAP, the online luxury and discounting sites. Last year discussions emerged with Farfetch as a possible contender, but complications with various...
May 20, 2022
Compared to the prior year, sales at Richemont grew by 46 percent at actual exchange rates and by 44 percent at constant exchange rates to 19,181 million euros, as growth rebounded in all major markets and distribution channels. The company said strong sales growth rates experienced throughout the first three quarters of the fiscal year...
Richemont has sold a minority stake in Swiss watchmaker Greubel Forsey, making its founders and chief executive 100 percent shareholders. Robert Greubel, Stephen Forsey and Chief Executive Antonio Calce are the full owners of the company’s shares, reported Reuters. Greubel Forsey was founded in 2004 and is known for its complicated timepieces....
Mar 25, 2022
E-commerce fashion giants Net-a-Porter, Mr Porter and Yoox have suspended shipping to Russia. A notice on their respective Russian websites reads: “Due to the current situation, we are unable to complete any new orders in your country. All order fulfillment has been suspended until further notice,” written in both Russian and English. YNAP,...
Mar 2, 2022
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