Richemont was created in 1988 by the spin-off of the international assets owned by Rembrandt Group Limited of South Africa (now known as Remgro Limited). Established by Dr Anton Rupert in the 1940s, Rembrandt Group owned significant interests in the tobacco, financial services, wines and spirits, gold and diamond mining industries as well as the luxury goods investments that, along with the investment in Rothmans International, would form Richemont.
Compagnie Financière Richemont SA is the ultimate holding Company for some of the world’s leading luxury goods companies - its Maisons - encompassing jewellery, watches, premium accessories and other luxury products. The Group is managed with the objective of growing value for shareholders over the long-term, recognising that the most important assets of the Group - its Maisons - have almost all been in existence for over a century.
The independence of each Maison within the Group is fundamental to Richemont’s overall growth strategy. Each Maison focuses on increasing awareness and desirability by developing creative products and appropriate marketing programmes. The Maisons’ products are sold through a network of boutiques owned by the Group, through franchise operations and through boutiques owned by third parties.
The Group’s luxury businesses operate globally. The largest market is Europe, which generates some 40 per cent of sales. Details of sales by geographic region are given on theKey Figures page. The Group believes the diversity of its geographical operations, with a lack of dependency on any one market, represents a long-term competitive advantage.
Specifically, the Group’s strategic objectives are:
- for long term organic growth through investment in Maisons
- to maintain high product quality and outstanding customer service
- to attract and retain creative management and skilled craftsmen
- to increase investments in manufacturing (R&D, integration, flexibility and capacity)
- to adapt the selective distribution model to changes in the environment
- to maintain long-standing commitment to doing business responsibly
- to further enhance our business model (shared services / platforms / ERP) allowing leverage and control
Richemont falls within the luxury consumer goods sector. Through its Maisons, the Group’s activities and products include jewellery, fine watchmaking and premium accessories.
Within Richemont, those Maisons which are principally engaged in a specific business area have been grouped together for reporting purposes. By way of example, those businesses which have a heritage as producers of high jewellery and jewellery watches – Cartier and Van Cleef & Arpels – are grouped together as ‘Jewellery Maisons’. Their entire product ranges, including watches and premium accessories, are reflected in the financial result for that business area. The relative weight of each business area within the Group in terms of financial results is presented on other pages of the Richemont website.
Cartier and Van Cleef & Arpels enjoy leading positions in the global, branded jewellery sector. Whilst no single industry body exists, the French language-only website of Fédération Nationale d'Horlogerie, Bijouterie, Joaillerie et Orfevrerie contains helpful information about the jewellery industry (http://www.fedehbjo.com/).
The Group’s eight specialist watchmakers are among the most renowned in the fine watchmaking industry, which is concentrated in Switzerland. The Federation of the Swiss Watch Industry represents all Swiss watchmakers: its English and French language website (http://www.fhs.ch/en/) contains monthly export statistics and other business information. In addition, the Fondation de la Haute Horlogerie, an independent body established to promote the arts and crafts of fine watchmaking, also has an informative website about the industry (http://www.hautehorlogerie.org/).
The industry for the design, manufacture and distribution of premium accessories, including writing instruments, leather goods and fashion, is highly fragmented. The combined sales of such products together represent some 30 per cent of Group turnover. Montblanc enjoys a leading position in the luxury writing instruments industry.
Compagnie Financière Richemont SA
Richemont North America, Inc
|Richemont Japan Limited
Hanzomon First Bldg, 1-4 Kojimachi,
Chiyoda-ku, Tokyo 102-0083, Japan
|Richemont Asia Pacific Limited
6/F Jardine House, 1 Connaught Place
Central, Hong Kong
Europe(covering Russia/CIS, Middle East, Latin America and South Africa)
50, chemin de la Chênaie, CP30
1293 Bellevue, Geneva, Switzerland