The story
Founded by Johann Rupert on Mar 31, 1987, in Geneva.1
Johann Rupert founded Compagnie Financière Richemont S.A. when he spun off the international assets of Rembrandt Group Ltd. (now Remgro Limited), a South Africa-based company founded in the 1940s by his father, Anton Rupert. The division, originally founded on 5 March 1979 as Intercontinental Mining and Resources S.A., was later renamed IMR Group S.A. on 31 March 1987 and finally Richemont S.A. on 17 August 1988. The spin-off was completed on 20 September 1988. The luxury goods investments of Rembrandt Group combined with Rothmans International formed the initial group of Richemont subsidiaries.
In October 2008, the Group divested all of its remaining interests in the tobacco industry.
As of 2014, Richemont is the second-largest luxury goods company in the world after LVMH.
In 2015, Richemont's Net-a-Porter Group was merged with the YOOX Group in an all-share transaction. In August 2022, Richemont announced the prospective sale of a 47.5% stake in Yoox Net-a-Porter (YNAP) to Farfetch in exchange for Farfetch shares, and the sale of a 3.2% stake to Mohamed Alabbar. In January 2024, Farfetch was acquired by Korean e-commerce company Coupang, and delisted, which ended Richemont's planned sale of the YNAP majority stake.
In 2018, Jérôme Lambert was named CEO of Richemont Group.
The compensation of the Richemont group's executives increased by an average of 14% in 2018.
In March 2023, Richemont launched Enquirus.com to combat jewelry and watch theft.
In July 2023, Richemont acquired a 70% stake in Italian shoemaker Gianvito Rossi.
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As of October 2023, Compagnie Financière Richemont S.A. was the sixth-largest corporation by market capitalization in the Swiss Market Index.
In May 2024, Nicolas Bos, the head of Van Cleef & Arpels was appointed CEO effective 1 June 2024, replacing Jérôme Lambert. Lambert would stay at Richemont as chief operating officer reporting to Bos.
In May 2024, Richemont acquired Italian jewellery brand Vhernier for an undisclosed sum.
From Wikipedia’s article on Richemont, shared under CC BY-SA 4.0.5