Richemont

Richemont’s Johan Rupert redefines luxury as a year off

May 16, 2013 3:26 pm by Vanessa Friedman

The announcement that came along with Richemont’s 2012 annual results this morning that chairman Johan Rupert (left), is taking a year off from running the world’s second biggest luxury company starting this September is by far, to me at least, the most interesting part of the statement. For a man who has built the largest watch and jewellery Group to take a year off at age 62 – which, let’s face is not so old — at a time when the exponential growth trajectory of the luxury sector has started to slow is a little, well, surprising. And leads to all sorts of interesting speculation.

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Posted in Fashion, Financial results, Jewellery, Luxury goods |

Are luxury CEOs more depressed about China than they admit?

April 23, 2013 1:59 pm by Vanessa Friedman

Ledbury Research is releasing its latest Luxury Market Insights report, which includes a CEO Outlook study tomorrow, and guess what? Those chief execs aren’t totally convinced the Chinese consumer demand for luxury, which has been slowing, will zoom back, despite what they often say.

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Posted in China, Financial results, Luxury goods |

Outlets, Gen Z, Chinese power women – Bain’s surprising luxury revelations

October 15, 2012 8:37 pm by Vanessa Friedman

Earlier today I wrote about the odd idea that came to me after reading Bain’s 11th Luxury Goods Market report, but now I’d like to simply list a few more notable — and surprising — conclusions from that exciting document, including facts on outlet shopping, Gen Z, and a new Chinese consumer segment. Read more

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Posted in Accessories, China, Fashion, Luxury goods |

In Paris, Lady Gaga’s next fashion favourite

September 28, 2012 8:53 am by Vanessa Friedman

This has been a good week for Richemont’s fashion brands. Tonight a Chloe retrospective opens at the Palais de Tokyo, and last weekend Lady Gaga gave a shout-out in front of millions of fans at the Stade de France to the designer Azzedine Alaia, calling him a genius. You know what that means: sales! Read more

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Posted in Fashion, Luxury goods, Shows, Womenswear |

Richemont gets into the sports lifestyle game

September 24, 2012 2:53 pm by Vanessa Friedman

Take that, PPR! You’re not the only luxury player on the block that’s recognised the potential of “sports lifestyle” brands (though you may be the only one with an entire division, and strategy, dedicated to the sector). Compagnie Financiere Richemont, the Swiss luxury group that is normally known for its watch and jewellery expertise – they own Cartier, Van Cleef & Arpels, Piaget, Jaeger LeCoutre, and so on – just announced it has acquired US-based high-end casual clothing/golf brand Peter Millar. The move raises so many interesting questions! Read more

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Posted in Financial results, Luxury goods, Ready-to-wear, Shows |

When is China going to blow?

August 9, 2012 3:58 pm by Vanessa Friedman

Last May, Johan Rupert, Richemont’s chairman, issued what is still my favourite quote on the subject of China and luxury, the implication of which was: China is a volcano, and it’s gonna blow. But when? This is, numerous luxury brand H1 results now in, the question bedevilling analysts, investors, and the brands themselves. Read more

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Posted in China, Financial results, Luxury goods |

Rulers of their own domains

June 20, 2012 2:35 pm by Vanessa Friedman

Here’s a tip: go poke through the applications for ICANN’s new top-level domain name program – you know, the one that will allow companies to have their own .whatever denomination, instead of just .com or .org or .fr. It makes for fascinating reading. You’d think this would get luxury and fashion all a-lather, given their obsession with brand control and intellectual property protection and all that, but it seems not.
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Posted in Fashion, Internet, Luxury goods |

Mr Prada courts flattery through imitation

May 25, 2012 3:18 pm by Vanessa Friedman

Prada CEO: “We don’t want to be a brand that nobody wants to copy.” This is a quote from an interview Patrizio Bertelli, aka Mr Prada, gave yesterday to Bloomberg TV, and it is probably going to set off something of a hoo-ha in fashion, which has of late become very publicly litiginous when it comes to copying. Read more

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Posted in China, Fashion |

Richemont’s Russian ruling is good for luxury

April 25, 2012 9:54 am by Vanessa Friedman

So a precedent has been set in Russia. Yesterday the Swiss conglomerate won their case in the Russian Federal Supreme Court, where in they sued a Russian company that had registered the trademark Vacheron Constantin and applied it to middle-market clothes. The result is a new legal standard in Russia regarding trademark protections that will be very useful not only to any other luxury brand doing business in the country but any luxury brand doing business in other emerging markets.

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Posted in Luxury goods, Politics |

Richemont mounts the trademark barricades

April 23, 2012 5:14 pm by Vanessa Friedman

After YSL and Louboutin, after LVMH and eBay, comes Richemont and Russia. Yes, tomorrow the Swiss luxury giant comes out of the shadows and joins the fight against trademark infringement and IP theft that has been picking up steam across the globe. See, tomorrow the Arbitrazh court of Moscow will hear an appeal by Richemont’s Vacheron Constantin brand that, says the Chairman of the Chamber of Russian patent attorneys, could well determine the shape of Russian IP law going forward. And that, of course, will have wide repercussions for the greater luxury industry.
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Posted in Fashion, Luxury goods |
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