Home

Tags

richemont

richemont news and archive

Net-a-Porter launches localised site for Middle East

Leading luxury pureplayer Net-a-Porter has launched a localised site and app for the Middle Eastern market. The dual-language site will be available in both Arabic and English and will encompass local editorial content and product curation. Customers can shop curated edits in local currencies, as well as consult specialised personal shopping....

Mar 10, 2021

People

Maison Alaïa appoints Pieter Mulier as Creative Director

Paris-based fashion house Alaïa has appointed Belgian designer Pieter Mulier as its new creative director. A significant appointment, it is the brand’s first creative head since the passing of founder Azzedine Alaïa in November 2017. The Richemont-owned Maison made the announcement on Friday, with Mulier’s first collection to debut for Spring...

Feb 5, 2021

Fashion

Alber Elbaz returns to fashion with AZ Factory

Alber Elbaz marked his return to fashion with his start-up AZ Factory with a personality-filled digital presentation during Paris Haute Couture Week. Offering what he calls a “digital entertainment take on luxury,” Elbaz used his presentation to share not only his fashion creations but also the ethos of the company, “smart fashion that cares”. “...

Jan 27, 2021

Management

Growth in Asia drives 5 percent sales increase at Richemont

For the third quarter to December 31, 2020, sales at Compagnie Financière Richemont SA increased by 1 percent at actual exchange rates and by 5 percent at constant exchange rates to 4,186 million euros compared to the prior year period. In the nine-month period, the company recorded sales decrease of 16 percent at actual exchange rates and by 14...

Jan 20, 2021

Fashion

Alber Elbaz’s AZ Factory partners with Farfetch and Net-a-Porter

Alber Elbaz is making his long-awaited return to fashion as an invited guest member of the Fédération de la Haute Couture et de la Mode with his joint venture with Richemont, AZ Factory. In a statement, AZ Factory said it will present its first product stories as part of Paris Haute Couture Week on January 26 at 8pm CET, which will then go to...

Jan 19, 2021

Management

Farfetch announces major tie-up with Alibaba and Richemont

Chinese e-tailer Alibaba and Swiss luxury group Richemont, two titans of the fashion industry, have invested 1.1 billion dollars in London-based fashion marketplace Farfetch as it looks to expand its presence in China. The tie-up will see Alibaba launch Farfetch luxury shopping channels on its Tmall Luxury Pavilion and Luxury Soho. Alibaba and...

Nov 6, 2020

Management

Richemont H1 profit drops as Covid-19 hits sales

In the six month period under review, Richemont said, trading was significantly impacted by the worldwide spread of the Covid-19 pandemic and its resulting negative impact on trading conditions. Sales decreased by 26 percent at actual exchange rates and by 25 percent at constant exchange rates to 5.5 billion euros. The company added that as...

Nov 6, 2020

People

Alber Elbaz appoints CEO to new Richemont-owned venture

Paris-based designer Alber Elbaz has appointed Laurent Malecaze as the Chief Executive Officer of his new startup AZfashion. The company was formed in partnershp with luxury group Richemont at the end of 2019 and is yet to unveil its first womenswear collection. WWD confirmed the appointment: “Currently CEO of luxury retailer The Webster in New...

Sep 18, 2020

Report

Richemont unveils shareholder loyalty scheme

Swiss luxury goods group Compagnie Financiere Richemont AG (CFRUY.PK) Friday announced a shareholder loyalty scheme, under which tradable warrants will be issued to shareholders. This will allow them either to trade the warrant or, subject to the terms and conditions of the warrants, acquire new Richemont A shares in three years at a potentially...

Aug 7, 2020

Management

Covid-19 impact reduces Richemont's Q1 sales by 47 percent

During the first quarter under review, the Richemont Group’s trading and operations were strongly impacted by Covid-19 resulting in sales decline of 47 percent at constant and actual basis to 1,193 million euros (1,360 million dollars). The company said in a statement that sales contracted significantly across all regions, channels and business...

Jul 16, 2020

Retail

Net-a-Porter: The company that revolutionised luxury fashion turns 20

It’s hard to imagine twenty years ago marked the dawn of luxury e-commerce. Before the launch of Net-a-Porter in 2000 there was brick-and-mortar, multi brand retailers, department stores and brand-operated websites. There was no online destination that sold an exceptionally curated mix of high-end fashion until Net-a-Porter transformed the...

Jun 29, 2020

Report

Richemont appoints Philippe Fortunato as CEO of fashion and accessories business

Richemont has announced that effective September 1, 2020, Philippe Fortunato will assume the role of CEO of Fashion & Accessories Maisons and will join the group’s senior executive committee. The company said in a statement that Fortunato will report to Jérôme Lambert, Chief Executive Officer of Richemont. Fortunato, the company added, joins...

Jun 26, 2020