A new performance ranking of companies in the luxury goods sector made the headlines in the German media this morning. The ranking isn’t very kind to Richemont. As a report card to CEO Johann Rupert it also isn’t particularly flattering. [Read on]
Swiss-based luxury goods firm Richemont wants control of UK-based fashion portal Net-a-porter.com. It already owns roughly 33% of the portal and offered to buy the rest of the business last week, Financial Times Deutschland (FTD) reported. According to FTD, Richemont valued Net-a-porter at €393 million. [Read on]
Paloma Castro Martinez is a woman with a mission. Or, simply one with ants in her pants.
Whatever, she can’t sit still for long. Or stay with the same employer for long. Many (including this writer) would walk on water for a job at luxury goods manufacturer Richemont. Not Martinez. For her, ten months are enough, thank you. Next.
The daily Handelsblatt reported today that Spanish beauty (my description…look here) Martinez has job-hopped from Richemont to competitor LVMH (probably just around the corner in Brussels), where she’ll be director of Global Corporate Affairs.
The good relationship between LVMH and the European Commission is among her many new responsibilities. Media relations another. Not shabby. But, still. Before Richemont, she was with McDonalds, and before that with eBay. All Brussels jobs.
In her defence, one could say at Richemont she was “only” head of the division Global Government Affairs. And a career is something which suggests upward movement, per definition…
Johann Rupert has had an amazing “run” in the media since the announcement last week that he’ll come back as CEO of Richemont early next year. I’ve written (see article below) about the dailies FTD and Handelsblatt, which both called Rupert “Africa’s Warren Buffett”. [Read on]
Ralph Lauren and luxury goods manufacturer Richemont launced a new collection of luxury watches, reported the National Jeweler Network.
Rumours are flying in the Chinese media that China Investment Corporation (CIC), with reserves of $200 billion, is considering stakes in luxury goods firms such as LVMH Moet Hennessy Louis Vuitton, Richemont or PPR, reported the German business daily Handelsblatt this morning. [Read on]
Swiss watchmaker Roger Dubuis SA, a company bought by luxury goods manufacturer Richemont in August last year, announced the retrenchment of 70 employees (16% of the workforce), saying the move has more to do with an over-eager employment policy in the period before August 2008, than with the new owner, or the current economic environment. Full report here.
The global economic crisis has arrived at Swiss-based luxury goods manufacturer Richemont. Turnover dropped dramatically in recent weeks in the US, Europe and Japan and late today the company’s share price came under strong downward pressure. [Read on]