The heritage of Richemont's Maisons is rooted deep in the
knowledge, experience and tradition of the luxury goods industry.
Looking ahead, Richemont strives to ensure that its businesses are
in a position to continue to develop and manufacture products, which
will continue to thrill and enchant their owners.
Richemont owns several of the world's leading companies in the field
of luxury goods, with particular strengths in jewellery, luxury watches
and premium accessories. The Group’s luxury interests encompass several
of the most prestigious names in the luxury industry including Cartier,
Van Cleef & Arpels, Piaget, Vacheron Constantin, Jaeger-LeCoultre, IWC
Schaffhausen, Panerai and Montblanc.
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.
Formation of Richemont. Richemont owns minority holdings in Cartier
Monde SA and Rothmans International, which also holds investments in
Cartier Monde, Alfred Dunhill and, through Alfred Dunhill, Montblanc and
Richemont acquires Philip Morris' 30 per cent interest in Rothmans
Separation of Richemont's tobacco and luxury goods operations into
Rothmans International NV/PLC and Vendôme Luxury Group SA/PLC
Richemont acquires Purdey.
Buyout of Rothmans International minority shareholders. Formation of
NetHold pay television group, in which Richemont holds 50 per cent
Merger of Richemont's tobacco interests with those in South Africa held
by Rembrant Group Limited, Richemont owns 67 per cent of the enlarged
tobacco group. Acquisition of watchmakers Vacheron Constantin by Vendôme
Merger of NetHold with Canal+ of France, Richemont acquires 15 per cent
of Canal+. Acquisition of watchmaker Officine Panerai and leather goods
brand Lancel by Vendôme Luxury Group.
Buyout of Vendôme Luxury Group minority shareholders, Richemont owns 100
per cent of luxury goods interests.
Merger of Rothmans International with British American Tobacco.
Richemont holds 23.3 per cent effective interest in the enlarged British
American Tobacco. Acquisition of a controlling 60 per cent interest in
Van Cleef & Arpels, one of the world's most renowned jewellery Maisons.
Richemont disposes of its 15 per cent interest in Canal+ in exchange for
a 2.9 per cent interest in Vivendi.
Reduction in the Group's effective interest in British American Tobacco
to 21 per cent through partial disposal of holding of preference shares.
Disposal of Vivendi interest, which represents Richemont's exit from
pay-television and electronic media investments. Acquisition of
Jaeger-LeCoultre, IWC Schaffhausen and A. Lange & Söhne.
Richemont acquires a further 20 per cent interest in Van Cleef & Arpels.
In November 2001, Richemont units were split in the ratio of 100 to 1.
Richemont acquires the remaining 20 per cent interest in Van Cleef &
Arpels that it did not previously own, bringing that company into full
ownership by the Group.
Richemont acquires the final 10 per cent of A. Lange & Söhne that was
previously held by members of the Lange family.
In June 2004, holders of warrants over British American Tobacco
preference shares exercise their rights and have preference shares
converted into new ordinary shares in British American Tobacco.
Richemont's effective interest in British American Tobacco reduced to
18.6 per cent in June 2004.
Richemont announces in March 2005 that it has marginally reduced its
interest in British American Tobacco to 18.2 per cent through the
indirect sale of 12,854,457 British American Tobacco shares to its joint
venture partner, Remgro Limited.
Richemont announces sale of Hackett Limited.
Richemont announces in March that it has entered into an agreement for
the sale of its interest in Old England SA.
Richemont acquires Fabrique D'Horlogerie Minerva SA.
Richemont announces that it has entered into a long-term partnership
with Greubel Forsey (20 per cent).
Richemont and Remgro reach agreement with British American Tobacco
whereby their combined equity interest in British American Tobacco may
increase through the 30 per cent limit without any obligation to make a
full bid for the shares that they do not already own. Richemont and
Remgro's effective interests have increased as British American
Tobacco's share buyback programme reduces the overall number of shares
in issue; Richemont and Remgro do not participate in the buyback.
Richemont and Polo Ralph Lauren announce the formation of a 50/50
joint venture - the Ralph Lauren Watch and Jewelry Company.
Richemont acquires an interest in Azzedine Alaïa, the Parisian fashion
Richemont acquires component manufacturing operations of Manufacture
Roger Dubuis SA. This entity is named Manufacture Genevoise de Haute
Richemont acquires the watch case manufacturer Donzé-Baume SA.
Richemont acquires 60 per cent interest in Manufacture Roger Dubuis SA.
Richemont announces its planned restructuring. This involves the
separation of Richemont's luxury goods business from its other
Formation of Reinet Investments S.C.A. as a separately traded vehicle
for holding the non-luxury goods businesses formerly held by Richemont.
January - Launch of the first watch collection from Ralph Lauren Watch
and Jewelry Company, a joint venture between Richemont and Ralph Lauren,
at the SIHH Geneva.
Richemont acquires the majority of the shares of NET-A-PORTER.COM, the
premier online luxury fashion retailer. NET-A-PORTER operates as an
independent entity alongside Richemont's other luxury goods businesses.
Richemont acquires 100 per cent of the capital of Varin-Etampage &
Varinor SA (VVSA), a high-end manufacturer of stamped exterior
components for watches, gold refiner and producer of semi-finished
precious metal products destined for the watch and jewellery industry.
Richemont acquires Peter Millar LLC, a US-based, international luxury
Richemont merges The Net-A-Porter Group with YOOX Group in an all-share
transaction. Shares in the combined entity, the YOOX Net-A-Porter Group,
are traded on Borsa Italiana, the Italian stock exchange. Following the
merger, Richemont holds 50 % of the share capital while its voting
rights are limited to 25 %.
The Richemont 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.
Above is only portion of the companies history. This list of
accomplishments continues. Visit their site for more details