High jewellery from brands such as Cartier and Van Cleef & Arpels continue to drive business for the luxury group.
Richemont UK reports rise in full-year sales and profits
Sales at Richemont UK and its subsidiary brands including Cartier rose by 12% in its latest financial year to £306 million. Cartier’s UK sales rose by 19% to £163 million; over half of Richemont UK’s turnover. The data covers the year ending March 31, 2018, and all turnover figures are are a mixture of wholesale…
Richemont completes acquisition of Yoox Net-A-Porter
Shares in Yoox Net-A-Porter have been de-listed from the Milan Stock Exchange, marking the final stage of Richemont’s acquisition of the company. The deal gives Richemont full control of Yoox, Net-A-Porter and its subsidiary Mr Porter. It has been a convoluted journey to get to this point. British entrepreneur Natalie Massenet, who created Net-A-Porter in…
Net-A-Porter invests in luxury jewellery with dedicated online platform
Luxury fashion retail group YOOX Net-A-Porter (YNAP) has launched its first dedicated online destination for fine jewellery and luxury watches to serve a fast-growing customer base seeking to purchase high-value items in a single click. The Fine Jewelry & Watch Suite, which is part of Net-A-Porter’s website, features an extensive fine jewellery collection from more…
Jewellery brands boost business for Richemont in Q3
Luxury goods group Richemont has revealed better than expected sales growth for the third quarter as demand for jewellery and watches in Asia offset a challenging UK market. Company accounts for the third quarter ended December 31 2017 show a continued double digit growth of 13% in retail sales, underpinned by solid performances from the Jewellery Maisons…
Richemont profit rockets as jewellery sales lift
Worldwide operating profits at Richemont have surged by 46% to €1.2 billion (£1bn) in the six months ended September 30. Unaudited accounts show sales increased by 12% at constant exchange rates, although the figure is flattered by the end of 2016’s inventory buy-back, which was recorded as a net negative for sales. “The positive sales…
Senior Richemont employee jumps across to Kiki McDonough as managing director
A luxury London jeweller has welcomed a new managing director to oversee its plans for international wholesale expansion. Céline Larose, who worked at Richemont for 15 years most recently as brand director for Vacheron, has joined Kiki McDonough as managing director with immediate effect. Brand founder, Kiki McDonough, said: “I am very much looking forward…
Richemont reports a tough third quarter
Swiss luxury goods group Richemont is steeling itself for a tough few months following a disappointing third quarter. Third quarter sales for the three months to the end of December fell 4% at constant exchange rates (but increased 3% at actual rates) as the company saw business toughen in key markets. One highlight was the…
Richemont reaches out to LVMH to create online megastore for all luxury brands
Richemont’s executive chairman has reached out to the heads of LVMH and Kering with an offer to join forces to create a global online portal for their luxury brands. LVMH houses luxury jewellery brands Chaumet, Bvlgari and De Beers, Richemont boasts Cartier, Piaget, Van Cleef & Arpels, while Kering has Gucci and Belanciaga. The path…
Re-worked Serenity collection pays off for Fei Liu
Fei Liu has started the year with a surge of interest for its reworked 2015 jewellery collections. The Birmingham-based brand spent 2014 speaking directly to stockists about how to tailor jewellery to sell through. The company has funnelled that feedback into the re-designed Serenity collection that received its first public outing at Jewellery & Watch…
