From the sale of Mannesmann to the British phone giant Vodafone, the brands A. Lange & Söhne, IWC and Jaeger-LeCoultre, which were first possessed by the Mannesmann watches group LMH, newly arrived in 2000. Compagnie Financière Richemont SA, ... BAUME watches based in Geneva, Switzerland ; ... On 2 June 2005, Richemont announced its sale to Spanish investment company Torreal S.C.R., S.A. Strong jewellery and watches sales drive Richemont’s full-year growth by Jason Holland jason@moodiedavittreport.com Source: ©The Moodie Davitt Report 20 May 2019 Swiss luxury goods group Richemont has reported a +8% increase (at constant exchange rates) in group sales for the year ended 31 March 2019, excluding online retailer Yoox Net-A-Porter Group (YNAP) and Watchfinder. As such, it is no surprise to see Richemont reporting sales down by 47%, impacted mostly by the coronavirus pandemic – sales dropped from EUR 3,740 million for the first quarter 2019 to EUR 1,993 million for the first quarter 2020. This acquisition took the world by surprise, and remains one of the largest luxury acquisitions in history at over CHF 3 billion. Discover the Sale of Giorgio Armani, Emporio Armani, EA7 and Armani Junior for women and men. In 1998, Richemont bought a controlling stake in Shanghai Tang. Excluding the impact of Online Distributors and one-time net charges of €118 million, the operating margin increased to 19.5%.Profit for the year rose to €2,787 million, including a post-tax non-cash gain of €1,378 million on the revaluation of YNAP shares held prior to the takeover.Richemont Chairman Johann Rupert described the year under review as “one of transition and consolidation”. Watchfinder, the pre-owned luxury watch specialist owned by Richemont, is a perfect place to research how “good looking” brands are, not least because they treat all watches the same way in terms of authentication, cleaning and servicing before listing them for sale. Watches on Sale - Up to 75% off from Authorized Dealer Watches.com Richemont, the Swiss luxury goods group, is pleased to announce that it has reached agreement to acquire 100% of the share capital of Watchfinder.co.uk Limited (“Watchfinder” or “the Company”), the leading pre-owned premium watch specialist, in a private transaction with its shareholders. 2020 Monochrome Full-year sales rose 27% including YNAP and Watchfinder [grouped as Online Distributors], to €13,989 million.Cartier performed strongly and benefited from the launch of the rejuvenated ‘Santos de Cartier’ watch line and the “enduring appeal” of its jewellery collections, Richemont said.Richemont registered growth in all business areas and most regions, including double-digit increases in Asia Pacific and the Americas. Richemont Group starts its fiscal year on April 1st, meaning that the first-quarter 2020 results account for the month of April, May and June 2020 – right in the middle of what is potentially one of the worst sanitary and economical situations ever. © 2006– Story continues below . The decline in sales for online retail is ‘only’ 22%, compared to minus 43% for classic retail.Also, the most impacted businesses of Richemont are the specialist watchmakers, with a 56% drop in sales. To subscribe and manage your alerts from The Moodie Davitt Report Swiss luxury goods group Richemont has reported a +8% increase (at constant exchange rates) in group sales for the year ended 31 March 2019, excluding online retailer Yoox Net-A-Porter Group (YNAP) and Watchfinder.Richemont took full control of YNAP in May 2018 and then acquired Watchfinder, an omnichannel platform for premium pre-owned timepieces, shortly thereafter. We will foster a collaborative and inclusive working environment where talent thrives and sustainability is embedded across all our operations.” IWC SCHAFFHAUSEN BOUTIQUE – LONDON 138 New Bond Street, London W1S 2TJ, GB +44 20 3618 3900 Established in 2002 in the United Kingdom, Watchfinder has grown organically under the … In July 2017, Richemont announced that it had sold Shanghai Tang to a group of investors headed by Italian entrepreneur Alessandro Bastagli. Decreases were less pronounced in the Middle East and Africa, and in Asia Pacific – the latter benefiting from 47% sales growth in mainland China and delivered triple-digit online sales growth. 15 et seq. The Group accounts double-digit sale decline “Looking more closely, we can see that Europe, the Americas and Japan all report an average 60% drop in sales. Jewellery Maisons, including Cartier and Van Cleef & Arpels, and the retail channel posted the strongest performance.Among the Specialist Watchmakers, Richemont particularly noted the performance of Vacheron Constantin, Jaeger-LeCoultre and IWC.Group operating profit was up 5% to € 1,943 million. Jewellery Maisons (mostly Cartier and Van Cleef) fared better than the other business areas (-41% sales).Richemont Reports Quarterly Sales Down 47% Due To Covid-19Business News – Richemont Announces Solid Double-Digit Sales Growth a...Richemont Sales Show Growth in Last Quarter 2019, Mainly Driven by its Jewe...Business News – Richemont 2016/2017 Revenues & Results Down, New...Richemont Announces Strong 2017-2018 Results – Sales and Operating Pr...Richemont Announces Strong Quarterly Results just before SIHH 2018 Your Nearest Boutique. Without surprises, online businesses – mostly represented by Yoox-Net-A-Porter – showed better resilience than traditional retail, as online sales contributed 8% of Group sales compared to 2% in the prior year period. Advertisement. Following the monthly announcements made by the FHS regarding Swiss watch exports and half-year results by Swatch Group a couple of days ago, it is now time for the other giant of the Swiss watch industry, Compagnie Financière Richemont SA, to announce its first-quarter 2020 results… And, as expected from the current coronavirus situation, lockdown […] ... company with sole shareholder subject to direction and coordination of Compagnie Financière Richemont S.A. You may exercise your rights (Art. I agree to my personal data being stored and used to receive the newsletter or other updates about Monochrome Watches.I agree to my personal data being stored and used to receive the newsletter or other updates about Monochrome Watches.


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