Press releases and news

Richemont’s Maisons have been collaborating with peers since 2015 through the Coloured Gemstones Working Group that aims to unite the industry through shared commitments to catalyse positive change, for people and planet. A key objective of our collaboration was to create a vehicle to promote responsible business practices within the gemstone industry. The fruit of all our efforts, the 'Gemstones and Jewellery Community Platform' (GJCP), was launched on 29 April during the OECD’s Forum for Responsible Mineral Supply Chains. The GJCP is committed to a transparent, responsible and vibrant jewellery industry and providing all members of the gemstone and jewellery industry with tools and resources to be more responsible in all that they do, including enabling companies move towards RJC and other industry certifications.

Matthew Kilgarriff, Director Corporate Social Responsibility at Richemont explains why the CWCG’s new platform will be so important for the sector. “As we believe in the power of industry collaboration to tackle responsible supply chain challenges, Richemont, Cartier, Van Cleef & Arpels and other actors of the industry co-founded the Coloured Gemstones Working Group (CGWG) to tackle the challenges of this complex industry and develop the first coloured gemstones supply chain responsible practices tool set. With rubies, sapphires and emeralds being incorporated in the RJC Code of Practices in 2019, the tools, research and platform developed by the CGWG will be key for the Group and its suppliers to progress on our due diligence efforts towards improved traceability and transparency in our supply chains. The launch of the Gemstones and Jewellery Community Platform is a milestone in the industry’s responsible journey, and we encourage all our suppliers and actors of the value chain to join the community and leverage its tools.”

Further details about the platform and collaboration opportunities may be found on https://gemstones-and-jewellery.com/.

The management and employees of Richemont and AZ Factory wish to express their deep sorrow at the passing of Alber Elbaz.

Paying tribute to Alber Elbaz, Johann Rupert, Chairman, said:

“It was with shock and enormous sadness that I heard of Alber’s sudden passing. Alber had a richly deserved reputation as one of the industry’s brightest and most beloved figures. I was always taken by his intelligence, sensitivity, generosity and unbridled creativity. He was a man of exceptional warmth and talent, and his singular vision, sense of beauty and empathy leave an indelible impression.

It was a great privilege watching Alber in his last endeavour as he worked to realise his dreams of ‘smart fashion that cares’. His inclusive vision of fashion made women feel beautiful and comfortable by blending traditional craftsmanship with technology - highly innovative projects which sought to redefine the industry.

Alber will be greatly missed by all of us who had the good fortune to know him or work with him. On behalf of all of my colleagues at Richemont and AZ Factory, I wish to extend our sincerest condolences to his family and friends.

On a personal note I would like to add that I have lost not only a colleague but a beloved friend.

Rest in peace Alber.”

Alber Elbaz (Portrait credit: A.KOO)

The Responsible Jewellery Council (RJC), the leading standard-setting organisation for the jewellery and watch industry supply chain, has announced the launch of an SDG Taskforce to create a unified platform to benchmark members’ progress in the implementation of the 17 UN Sustainable Development Goals (SDGs). The SDG Taskforce will report on progress made within member companies and the industry through the annual RJC Progress Report and updates will be published to a dedicated web page.

The SDG Taskforce will:

• Establish an SDG action Platform to coordinate the efforts of the industry
• Launch a global library of best practices on the SDGs implementation
• Function as a think-tank for new and collaborative projects on SDG implementation
• Report regularly about the progress made through the Annual RJC Progress Report and case studies
• Provide input into the RJC 2030 Roadmap and supporting member metrics, which will enable members to measure and report progress on the SDGs

“Nothing is more important than the continuous improvement in the integrity of the global jewellery supply chain to help strengthen consumer confidence and underpin its future with greater trust. That is why the RJC SDG Taskforce is critical to the future of our industry,” said David Bouffard, Chair of Responsible Jewellery Council.

The SDG Taskforce consists of 26 members and the Executive Director of RJC and is co-chaired by Feriel Zerouki, Senior Vice President, Corporate Affairs, De Beers Group, and Matthew Kilgarriff, Director Corporate Social Responsibility, Richemont, with strategic guidance provided by Georg Kell, founder and former Executive Director of the United Nations Global Compact.

Today, Cartier together with LVMH and the Prada Group announced the creation of the #AuraBlockchain Consortium, supporting the first global blockchain solution dedicated to the luxury industry. The Consortium will promote the use of a single global blockchain solution open to all luxury brands worldwide to provide consumers with additional transparency and traceability. Cartier, LVMH and Prada Group have created together a single solution to address the shared challenges of communicating authenticity, responsible sourcing and sustainability in a secure digital format.

The technology offered by the Aura Blockchain Consortium enables direct-to-consumer access to product history and proof of authenticity. Consumers can easily and transparently follow a product’s lifecycle, from conception through distribution, with trusted data throughout, and thus strengthen their relationship with their favourite luxury brands.

Cyrille Vigneron, President and CEO of Cartier International and Member of Richemont’s Board and Senior Executive Committee: “The Aura Consortium represents an unprecedented cooperation in the luxury industry. Blockchain is a key technology to enhance customer service, relationship with partners and traceability. The luxury industry creates timeless pieces, and must ensure that these rigorous standards will endure and remain in trustworthy hands. We therefore invite the entire profession to join this consortium to design a new luxury era enabled by blockchain technology.”

On 14-18 April 2021, 19 brands will exhibit at the West Bund Art Center for Watches and Wonders Shanghai, including 10 Richemont Maisons: A. Lange & Söhne, Baume & Mercier, Cartier, IWC Schaffhausen, Jaeger-LeCoultre, Montblanc, Panerai, Piaget, Roger Dubuis and Vacheron Constantin.

Set over 5 days, Watches and Wonders Shanghai has a fast-paced programme of activities around the theme of watchmaking: learn a watchmaker’s secrets by assembling a mechanical movement, admire the craftsman’s seasoned hand at workshops, delve into new technologies and innovations at the LAB, and learn more about the challenges and trends in the industry at the many talks and panels. Not only will visitors have the chance to discover some of the watches unveiled online at Watches and Wonders Geneva, they will also be the first to see new models created especially for the Chinese market. Certain Maisons will present unique pieces and iconic heritage watches.

Close to 500 press conferences, over 40 keynotes, a daily live “Morning Show”, six expert-led panels and a wealth of exceptional creations revealed by 38 prestigious participating brands including A. Lange & Söhne, Baume & Mercier, Cartier, IWC Schaffhausen, Jaeger-LeCoultre, Montblanc, Panerai, Piaget, Roger Dubuis, Vacheron Constantin.

Follow the event live on watchesandwonders.com

This year, the partnership takes on a two-phase journey integrating physical and digital events and campaigns, giving customers “first-to-market” access to a curated selection of launches.

MR PORTER is pleased to showcase one novelty from each of the 11 participating Maisons and NET-A-PORTER is pleased to present one novelty from each of the six Maisons currently available on NET-A-PORTER.

NET-A-PORTER and MR PORTER will follow up their April activity with a second campaign in September 2021, displaying additional novelties and further celebrating the intersection of fine watches and their luxury style and fashion offering.

Richemont supports the New York Fashion Tech Lab 2021 programme featuring global, women-led, emerging technology companies.

MyBody dress by AZ Factory

At the Extraordinary General Meeting of Compagnie Financière Richemont SA (“the Company”) held in Geneva on 17 November 2020, shareholders approved the creation of the conditional capital and the corresponding amendment to the Company’s articles of association required to implement the shareholder loyalty scheme as reconfirmed by the Company on 16 October 2020.

As part of the scheme, warrants will be distributed to shareholders on 27 November 2020. The A warrants, which relate to A shares, will be listed on SIX Swiss Exchange on the same date. The "Exercise Price" of the A warrants, or the price at which holders of A warrants will be entitled to purchase one Richemont A share in three years, has been set at CHF 67.00, which is the volume-weighted average price of the A shares on SIX Swiss Exchange between 19 October and 13 November 2020. The "Specified Number" of A warrants to be exercised in order to purchase one A share at the Exercise Price has been set at 67.

Further information regarding the scheme, the creation of conditional share capital, and the amendment to the Company’s articles of association can be found in the information memorandum (the ‘Information Memorandum’) published by the Company on 19 October 2020: www.richemont.com/investor-relations/reports

About Richemont

Richemont owns a portfolio of leading international Maisons recognised for their distinctive heritage, craftsmanship and creativity. The Group operates in four business areas: Jewellery Maisons, namely Buccellati, Cartier and Van Cleef & Arpels; Specialist Watchmakers, namely A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis and Vacheron Constantin; Online Distributors, namely YOOX NET-A-PORTER GROUP (NET-A-PORTER, MR PORTER, YOOX, THE OUTNET) and Watchfinder & Co.; and Other, primarily Fashion & Accessories Maisons, including Alaïa, Chloé, dunhill, Montblanc and Peter Millar.

Richemont ‘A’ shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

Investor/analyst and media enquiries

Sophie Cagnard, Group Corporate Communications Director
James Fraser, Investor Relations Executive

Investor/analyst enquiries: +41 22 721 30 03; investor.relations@cfrinfo.net
Media enquiries: +41 22 721 35 07; pressoffice@cfrinfo.net; richemont@teneo.com

Richemont announces the publication of its interim report and accounts for the six months ended 30 September 2020. The report is available for download from the Richemont website at : www.richemont.com/investor-relations/reports

The interim report reflects the information contained in the Richemont results announcement issued on 6 November 2020 as well as the unaudited condensed interim consolidated financial statements posted on the Group’s website the same day.

In accordance with stock exchange regulations in Switzerland and South Africa, Richemont no longer prints its interim report.

About Richemont

Richemont owns a portfolio of leading international Maisons recognised for their distinctive heritage, craftsmanship and creativity. The Group operates in four business areas: Jewellery Maisons, namely Buccellati, Cartier and Van Cleef & Arpels; Specialist Watchmakers, namely A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis and Vacheron Constantin; Online Distributors, namely YOOX NET-A-PORTER GROUP (NET-A-PORTER, MR PORTER, YOOX, THE OUTNET) and Watchfinder & Co.; and Other, primarily Fashion & Accessories Maisons, including Alaïa, Chloé, dunhill, Montblanc and Peter Millar.

Richemont ‘A’ shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

Investor/analyst and media enquiries

Sophie Cagnard, Group Corporate Communications Director
James Fraser, Investor Relations Executive

Investor/analyst enquiries: +41 22 721 30 03; investor.relations@cfrinfo.net
Media enquiries: +41 22 721 35 07; pressoffice@cfrinfo.net; richemont@teneo.com

Download the announcement in English

Download the abridged announcement in French

*The official and signed version of this document will be distributed by post to holders of South African depositary receipts on 19 October 2020.

European Sustainable Development Week (ESDW), which took place from September 20-26th, is a European-wide initiative to promote sustainable development and the UN’s Sustainable Development Goals (SDGs).

For 2020’s event, Richemont’s European Regional Sustainability team, together with all European markets, organised a broad programme of activities and projects including webinars on topics such as Digital Pollution, Diversity & Inclusion and the Circular economy. Additional activities such as donations or equipment to schools took place but much of the week was focused on building awareness and learning.

We also hosted informative and engaging panel discussions with both external and internal guests, to share the essence of Sustainable Development, the 17 UN Sustainable Development Goals and how we, as Richemont Europe and the Group, are contributing to progress on this front.

Patricia Gandji, Group CEO of Regions and leading Human Resources Function, opened a key session hosting special external guests such as Antonio Hautle, Executive Director, Global Compact Switzerland, and Isabelle Gattiker, General and Artistic Director – International Film festival on Human Rights. Both shared their views on sustainable development and what it means to them in their respective spheres. We also had the opportunity to hear from our internal colleagues: Giorgia Roversi, YNAP Group Sustainability & Inclusion Director, Matthew Kilgarriff, Group Director of Corporate Social Responsibility, and Alexander Foersch, CEO Richemont Europe. This engaging session was co-hosted by Michela Boni and Hazel Annikin, Logistics and Sustainability Director, Richemont Europe.

Richemont is a proud sponsor of the Michelangelo Foundation, which aims to celebrate and preserve Métiers d’Art in Europe. On 17 September 2020, the Foundation launched Homo Faber Guide, a digital platform focused on fine craftsmanship allowing visitors to discover artisans, experiences, and galleries across 25 European countries

In partnership with the Fondation de la Haute Horlogerie (FHH), nine of Richemont’s prestigious watch and jewellery Maisons participated in the exclusive event in Shanghai and the digital showcase on Tmall’s Luxury Pavilion that took place on 9-13 September 2020.

The Board of Directors of Compagnie Financière Richemont SA (Richemont) announces its intention to study the possibility of delivering Richemont A shares to holders of South African depository receipts, thereby cancelling the Company’s depository receipt programme in South Africa. The contemplated simplified structure is intended to reduce administrative complexity and facilitate cross-border trading in Richemont A shares between investors on the SIX Swiss Exchange and the Johannesburg Stock Exchange.

Consequently, the Board has taken the decision to temporarily postpone the issuance of warrants under the proposed shareholder loyalty scheme, to study the possible impact of this contemplated change in cross-border trading.

The Board will therefore no longer propose the creation of a conditional capital as listed under Item 3 ("Creation of a conditional share capital") in the notice of meeting dated 12 August 2020, at its Annual General Meeting (AGM) due on 9 September 2020. The Board's proposal under Item 3 will therefore be withdrawn from the agenda of the AGM.

The Board will submit a revised proposal on the matter at an Extraordinary General Meeting of shareholders, which will be held later this year.

About Richemont

Richemont owns a portfolio of leading international Maisons recognised for their distinctive heritage, craftsmanship and creativity. The Group operates in four business areas: Jewellery Maisons, namely Buccellati, Cartier, and Van Cleef & Arpels; Specialist Watchmakers, namely A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis and Vacheron Constantin; Online Distributors, namely YOOX NET-A-PORTER GROUP (NET-A-PORTER, MR PORTER, YOOX, THE OUTNET) and Watchfinder & Co.; and Other, primarily Fashion & Accessories Maisons, including Alaïa, Chloé, dunhill, Montblanc and Peter Millar.

Investor/analyst and media enquiries

Sophie Cagnard, Group Corporate Communications Director
James Fraser, Investor Relations Executive

Investor/analyst enquiries: +41 22 721 30 03; investor.relations@cfrinfo.net
Media enquiries: +41 22 721 35 07; pressoffice@cfrinfo.net; richemont@teneo.com

At the Annual General Meeting of Compagnie Financière Richemont SA held today in Geneva, the shareholders approved the results for the year, including the proposals of the Board of Directors for the appropriation of retained earnings at 31 March 2020.

A dividend of CHF 1.00 per share will be paid on the listed A registered shares and a dividend of CHF 0.10 per share will be paid on the B registered shares in the Company. The dividend in respect of the A shares will be payable on Friday, 18 September 2020. It will be subject to Swiss withholding tax at the rate of 35%. The remaining available retained earnings of the Company, after payment of the dividend, are to be carried forward to the next business year.

All other Board proposals were also approved by the shareholders by an overwhelming majority.

About Richemont

Richemont owns a portfolio of leading international Maisons recognised for their distinctive heritage, craftsmanship and creativity. The Group operates in four business areas: Jewellery Maisons, namely Buccellati, Cartier, and Van Cleef & Arpels; Specialist Watchmakers, namely A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis and Vacheron Constantin; Online Distributors, namely YOOX NET-A-PORTER GROUP (NET-A-PORTER, MR PORTER, YOOX, THE OUTNET) and Watchfinder & Co.; and Other, primarily Fashion & Accessories Maisons, including Alaïa, Chloé, dunhill, Montblanc and Peter Millar.

Investor/analyst and media enquiries

Sophie Cagnard, Group Corporate Communications Director
James Fraser, Investor Relations Executive

Investor/analyst enquiries: +41 22 721 30 03; investor.relations@cfrinfo.net
Media enquiries: +41 22 721 35 07; pressoffice@cfrinfo.net; richemont@teneo.com

Since 2000, Richemont has been supporting Laureus, a global organisation that celebrates sporting excellence and uses the power of sport to transform lives and transcend national boundaries.

Dear Shareholder,

In the next few days, you will receive an invitation to the 2020 Annual General Meeting (AGM) of shareholders of Compagnie Financière Richemont SA which will be held on Wednesday, 9 September 2020.

Although the Swiss Government has gradually lifted the main restrictions imposed in the fight against COVID-19 (Coronavirus) disease due to some improvement of the general health situation, the number of infections is again on the rise since mid-June.

The health of Richemont's shareholders and its colleagues is our absolute priority. At the same time, the Company is under a legal obligation to hold its AGM and to ensure the smooth functioning of the Group.

In view of this special situation and to avoid any risk to the health of Richemont's shareholders and colleagues, the Board of Directors has decided to hold this year’s AGM on 9 September 2020 without the attendance of shareholders, in accordance with article 27 of the COVID-19 Ordinance 3 adopted by the Swiss Federal Council on 19 June 2020.

The exercise of your voting rights will be fully guaranteed. Shareholders may exercise their rights in writing or by electronic means, by submitting voting instructions through the Company's registrar, Computershare Schweiz AG, or by sending them directly to the independent representative of the shareholders Etude Gampert Demierre Moreno, Notaires. You will find detailed instructions on how you can participate and provide your voting instructions in the notice of meeting which will be posted on our website: http://www.richemont.com.

Shareholders are entitled to raise questions in advance of the meeting by emailing our Company Secretary, Mr Swen H. Grundmann, email: secretariat@cfrinfo.net, by 11:00 CEST on Monday, 24 August 2020. Answers to questions on key themes will be provided during a webcast at 14:00 CEST on Wednesday, 26 August 2020. The webcast will be available to view on the Richemont website until Wednesday, 9 September 2020.

We thank you for your kind understanding and look forward to welcoming you again in person at our 2021 Annual General Meeting.

Sincerely,

On behalf of the Board of Directors of Compagnie Financière Richemont SA

Johann Rupert
Chairman

*The official and signed version of this document will be distributed by post to holders of South African depositary receipts on 12 August 2020.

Richemont announces the publication of its sustainability report for the year ended 31 March 2020.

Richemont’s Transformational CSR Strategy, which launched last year, is centred on four focus areas – People, Communities, Sourcing and Environment – encompassed by strong governance, active engagement and continuous innovation in materials and processes. It is expressed by a series of short, medium and long term targets. This year’s report describes our progress against those targets, in particular our short term targets due for completion by December 2020.

Our Group has a long-standing commitment to doing business responsibly. We recognise the need for continual progress and strive to improve each year, embodying Richemont’s Movement for Better Luxury.

The report is available for download at www.richemont.com/sustainability

About Richemont

Richemont owns a portfolio of leading international Maisons recognised for their distinctive heritage, craftsmanship and creativity. The Group operates in four business areas: Jewellery Maisons, namely Buccellati, Cartier and Van Cleef & Arpels; Specialist Watchmakers, namely A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis and Vacheron Constantin; Online Distributors, namely YOOX NET-A-PORTER GROUP (NET-A-PORTER, MR PORTER, YOOX, THE OUTNET) and Watchfinder & Co.; and Other, primarily Fashion & Accessories Maisons, including Alaïa, Chloé, dunhill, Montblanc and Peter Millar.

Investor/analyst and media enquiries

Sophie Cagnard, Group Corporate Communications Director
James Fraser, Investor Relations Executive

Investor/analyst enquiries: +41 22 721 30 03; investor.relations@cfrinfo.net
Media enquiries: +41 22 721 35 07; pressoffice@cfrinfo.net; richemont@teneo.com

Richemont announces that, effective 1 September 2020, Philippe Fortunato will assume the role of CEO of Fashion & Accessories Maisons and will join the Group's Senior Executive Committee.

Philippe Fortunato will report to Jérôme Lambert, Chief Executive Officer of Richemont.

Mr Fortunato joins from Givenchy, where he has served as CEO since 2014. Prior to that, he has held several positions at the Chalhoub Group and across LVMH, at Christian Dior Couture, Fendi and Louis Vuitton. A graduate from the EDHEC business school and the University of Brighton, Mr Fortunato brings over 30 years of managerial experience in the luxury industry and strong international exposure.

About Richemont

Richemont owns a portfolio of leading international Maisons recognised for their distinctive heritage, craftsmanship and creativity. The Group operates in four business areas: Jewellery Maisons, namely Buccellati, Cartier, and Van Cleef & Arpels; Specialist Watchmakers, namely A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis and Vacheron Constantin; Online Distributors, namely YOOX NET-A-PORTER GROUP (NET-A-PORTER, MR PORTER, YOOX, THE OUTNET) and Watchfinder & Co.; and Other, primarily Fashion & Accessories Maisons, including Alaïa, Chloé, dunhill, Montblanc and Peter Millar.

Investor/analyst and media enquiries

Sophie Cagnard, Group Corporate Communications Director
James Fraser, Investor Relations Executive

Investor/analyst enquiries: +41 22 721 30 03; investor.relations@cfrinfo.net
Media enquiries: +41 22 721 35 07; pressoffice@cfrinfo.net; richemont@teneo.com

Richemont announces that Sophie Guieysse is stepping down from the Senior Executive Committee with immediate effect, and will not stand for re-election to the Board of Directors at the annual general meeting on 9 September 2020.

About Richemont

Richemont owns a portfolio of leading international Maisons recognised for their distinctive heritage, craftsmanship and creativity. The Group operates in four business areas: Jewellery Maisons, namely Buccellati, Cartier, and Van Cleef & Arpels; Specialist Watchmakers, namely A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis and Vacheron Constantin; Online Distributors, namely YOOX NET-A-PORTER GROUP (NET-A-PORTER, MR PORTER, YOOX, THE OUTNET) and Watchfinder & Co.; and Other, primarily Fashion & Accessories Maisons, including Alaïa, Chloé, dunhill, Montblanc and Peter Millar.

Investor/analyst and media enquiries

Sophie Cagnard, Group Corporate Communications Director
James Fraser, Investor Relations Executive

Investor/analyst enquiries: +41 22 721 30 03; investor.relations@cfrinfo.net
Media enquiries: +41 22 721 35 07; pressoffice@cfrinfo.net; richemont@teneo.com

Further to media reports, Richemont confirms that it has initiated a comprehensive review of its Human Resources function, which may have an impact on the composition of its Senior Executive Committee.

No decision has been made so far.

The Company has no further comments to make at this stage.

About Richemont

Richemont owns a portfolio of leading international Maisons recognised for their distinctive heritage, craftsmanship and creativity. The Group operates in four business areas: Jewellery Maisons, namely Buccellati, Cartier, and Van Cleef & Arpels; Specialist Watchmakers, namely A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis and Vacheron Constantin; Online Distributors, namely YOOX NET-A-PORTER GROUP (NET-A-PORTER, MR PORTER, YOOX, THE OUTNET) and Watchfinder & Co.; and Other, primarily Fashion & Accessories Maisons, including Alaïa, Chloé, dunhill, Montblanc and Peter Millar.

Investor/analyst and media enquiries

Sophie Cagnard, Group Corporate Communications Director
James Fraser, Investor Relations Executive

Investor/analyst enquiries: +41 22 721 30 03; investor.relations@cfrinfo.net
Media enquiries: +41 22 721 35 07; pressoffice@cfrinfo.net; richemont@teneo.com

Richemont’s increasing focus on Diversity, Equity and Inclusion (DEI) continues to grow throughout the organisation. Back in January 2019, Marina Corti was appointed Group DEI Director, responsible for defining the Group strategy and driving key initiatives in this important area, which Richemont believes is core to fostering creativity, innovation and entrepreneurship in our employees. 

Ensuring group-wide progress towards DEI objectives requires increasing awareness and engagement throughout our global team of colleagues.  With this in mind, we have formed a Group DEI Council to add to our already existing framework of DEI Champions and DEI Allies. 

This cross-functional team includes five senior leaders from our Maisons, functions and markets, and five employees from across the Group. The inaugural team is made up of five Gen-Z employees to offer their perspective on what DEI means to them. Future appointments to the Council will be on a rotating 12month basis to ensure the many and varied views and perceptions of all our colleagues have the potential to contribute to and have impact on our DEI journey. Council members are given specific training to develop DEI expertise and are charged with sponsoring and guiding Group DEI initiatives as well as monitoring overall progress. 

In addition to this important step, we have created Regional DEI Directors for Europe and Richemont North America. The increasing commitment of our Maisons to the Group DEI programme is shown among others by the nomination of a dedicated DEI representative for Cartier North America.

Richemont announces the publication of its annual report and accounts for the year ended 31 March 2020. The report is available for download from the Richemont website at www.richemont.com/investor-relations/reports

Regarding the year under review, the report reflects the information contained in the Richemont annual results announcement issued on 15 May 2020, as well as the audited consolidated financial statements which were posted on the Group’s website the same day. The report also contains the audited Company financial statements and Compensation Report.

The report will be mailed at the end of June to parties who have requested it. Only the printed report is definitive. The report may be obtained from the Company’s registered office at the address below or by contacting the Company via the website at www.richemont.com/group/contact

In South Africa, the report may be obtained directly from the Depository Agent at the following address: Computershare Investor Services Proprietary Limited, Rosebank Towers, 15 Biermann Avenue, Rosebank, Johannesburg, 2196, South Africa.

About Richemont

Richemont owns a portfolio of leading international Maisons recognised for their distinctive heritage, craftsmanship and creativity. The Group operates in four business areas: Jewellery Maisons, namely Buccellati, Cartier and Van Cleef & Arpels; Specialist Watchmakers, namely A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis and Vacheron Constantin; Online Distributors, namely YOOX NET-A-PORTER GROUP (NET-A-PORTER, MR PORTER, YOOX, THE OUTNET) and Watchfinder & Co.; and Other, primarily Fashion & Accessories Maisons, including Alaïa, Chloé, dunhill, Montblanc and Peter Millar.

Richemont ‘A’ shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

Investor/analyst and media enquiries

Sophie Cagnard, Group Corporate Communications Director
James Fraser, Investor Relations Executive

Investor/analyst enquiries: +41 22 721 30 03; investor.relations@cfrinfo.net
Media enquiries: +41 22 721 35 07; pressoffice@cfrinfo.net; richemont@teneo.com

Richemont announces that its 2017 share buy-back programme expired on 20 May 2020. During the three years of the 2017 share buy-back programme, the Company repurchased 4'200'000 shares.

Details of purchases under the 2017 share buy-back programme are available at: www.richemont.com/investor-relations/share-buy-back-information/share-buy-back-information-archive

About Richemont

Richemont owns a portfolio of leading international Maisons recognised for their distinctive heritage, craftsmanship and creativity. The Group operates in four business areas: Jewellery Maisons, namely Buccellati, Cartier, and Van Cleef & Arpels; Specialist Watchmakers, namely A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis and Vacheron Constantin; Online Distributors, namely YOOX NET-A-PORTER GROUP (NET-A-PORTER, MR PORTER, YOOX, THE OUTNET) and Watchfinder & Co.; and Other, primarily Fashion & Accessories Maisons, including Alaïa, Chloé, dunhill, Montblanc and Peter Millar.

Investor/analyst and media enquiries

Sophie Cagnard, Group Corporate Communications Director
James Fraser, Investor Relations Executive

Investor/analyst enquiries: +41 22 721 30 03; investor.relations@cfrinfo.net
Media enquiries: +41 22 721 35 07; pressoffice@cfrinfo.net; richemont@teneo.com

Richemont announces that it has successfully placed a Euro denominated bond transaction today with a volume of €2.0 billion.

The transaction launched on 18 May with three tranches maturing in 2028, 2032 and 2040. The notes are priced with a coupon of 0.750% for the €0.50 billion 8 year maturity note, 1.125% for the €0.85 billion 12 year note and 1.625% for the €0.65 billion 20 year note.

The notes are expected to receive a rating of A+. S&P Global Ratings recently affirmed the A+ rating of Compagnie Financière Richemont SA and revised the outlook to negative from stable.

Net proceeds of the notes issued will be used for the Group’s general corporate purposes.

Commenting on the bond transaction, Burkhart Grund, Chief Finance Officer of Richemont, said:

“The significant interest from investors demonstrates recognition of our strong cash generation profile and unique business model around Maisons with centuries of heritage as well as digital native businesses. Whilst Richemont has a robust balance sheet and more than adequate cash resources, we view it prudent to secure additional liquidity to weather potentially tougher times ahead. This bond transaction will support the long term development of our Maisons and businesses.”

Richemont will make an application for the notes to be listed on the regulated market of the Luxembourg Stock Exchange.

About Richemont

Richemont owns a portfolio of leading international Maisons recognised for their distinctive heritage, craftsmanship and creativity. The Group operates in four business areas: Jewellery Maisons, namely Buccellati, Cartier, and Van Cleef & Arpels; Specialist Watchmakers, namely A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis and Vacheron Constantin; Online Distributors, namely YOOX NET-A-PORTER GROUP (NET-A-PORTER, MR PORTER, YOOX, THE OUTNET) and Watchfinder & Co.; and Other, primarily Fashion & Accessories Maisons, including Alaïa, Chloé, dunhill, Montblanc and Peter Millar.

Richemont ‘A’ shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

Investor/analyst and media enquiries

Sophie Cagnard, Group Corporate Communications Director
James Fraser, Investor Relations Executive

Investor/analyst enquiries: +41 22 721 30 03; investor.relations@cfrinfo.net
Media enquiries: +41 22 721 35 07; pressoffice@cfrinfo.net; richemont@teneo.com

Download the press release in English

Download the abridged press release in French

As the pandemic continues to impact our lives on a global scale, it is imperative that we give back and support our communities in any way that we can. 

This summer, our Annual CSR Report highlights our very first APAC CSR initiative launched in January - a fundraising campaign led by our Richemont colleagues in Australia. In order to support those who were affected by the bushfire crisis, Richemont came together as a region and supported charities that worked hard to help those who were in need. This included: Red Cross Australia, Rural Fire Service RFS, and WIRES Wildlife Rescue. 

This was the first ever APAC Regional CSR collaboration, and its success really highlights how compassionate Richemont APAC is as a region. We look forward to more initiatives in the future!

Richemont announces the publication of its annual report and accounts for the year ended 31 March 2019. The report is available for download from the Richemont website at www.richemont.com/investor-relations/reports

Regarding the year under review, the report reflects the information contained in the Richemont annual results announcement issued on 17 May 2019, as well as the audited consolidated financial statements which were posted on the Group’s website the same day. The report also contains the audited Company financial statements and Compensation Report.

The report will be mailed at the end of June to parties who have requested it. Only the printed report is definitive. The report may be obtained from the Company’s registered office at the address below or by contacting the Company via the website at www.richemont.com/group/contact

In South Africa, the report may be obtained directly from the Depository Agent at the following address: Computershare Investor Services Proprietary Limited, Rosebank Towers, 15 Biermann Avenue, Rosebank, Johannesburg, 2196, South Africa.

The official notice for the 2019 annual general meeting and the definitive resolutions to be considered by shareholders will be published on the Group’s website and in the Swiss Gazette on or around 17 July 2019.

About Richemont

Richemont owns a portfolio of leading international ‘Maisons’ which are recognised for their distinctive heritage, craftsmanship and creativity. The Group operates in four business areas: Jewellery Maisons, namely Buccellati, Cartier and Van Cleef & Arpels; Specialist Watchmakers, namely A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis and Vacheron Constantin; Online Distributors, namely YOOX NET-A-PORTER GROUP (NET-A-PORTER, MR PORTER, YOOX, THE OUTNET) and Watchfinder & Co.; and Other, mostly Fashion & Accessories Maisons, including dunhill, Alaïa, Chloé, Montblanc and Peter Millar.

‘A’ shares issued by Compagnie Financière Richemont SA are listed and traded on SIX Swiss Exchange, the Company’s primary listing (Reuters ‘CFR.VX’/Bloomberg ‘CFR:VX’/ISIN CH0210483332). South African depository receipts in respect of Richemont ‘A’ shares are traded on the Johannesburg stock exchange, the Company’s secondary listing (Reuters ‘CFRJ.J’/Bloomberg ‘CFR:SJ’/ISIN CH0045159024).

Richemont and Alber Elbaz are pleased to announce the signing of an agreement to form a joint venture, called “AZfashion” (AlberelbaZfashion). AZfashion will be an innovative and dynamic start up, meant to turn dreams into reality.

Commenting on the partnership, Johann Rupert, Chairman of Richemont, said:

“Upon hearing Alber Elbaz describe his vision for fashion and the projects it inspires in him, I was again struck by his creativity and insight. His talent and inventiveness, with his sensitivity towards women and their wellbeing, will be of great value to our Group and its Maisons. We warmly welcome Alber to Richemont and look forward to an exciting partnership.”

Commenting on the partnership, Alber Elbaz said:

“I am very happy to partner with Richemont and to establish my “dream factory”, which will focus on developing solutions for women of our times. I am extremely excited to collaborate with good people, talented and smart individuals and look forward to also having a lot of fun with this new adventure.”

About Richemont

Richemont owns a portfolio of leading international ‘Maisons’ which are recognised for their distinctive heritage, craftsmanship and creativity. The Group operates in four business areas: Jewellery Maisons, namely Buccellati, Cartier and Van Cleef & Arpels; Specialist Watchmakers, namely A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis and Vacheron Constantin; Online Distributors, namely YOOX NET-A-PORTER GROUP (NET-A-PORTER, MR PORTER, YOOX, THE OUTNET) and Watchfinder & Co.; and Other, mostly Fashion & Accessories Maisons, including dunhill, Alaïa, Chloé, Montblanc and Peter Millar.

‘A’ shares issued by Compagnie Financière Richemont SA are listed and traded on SIX Swiss Exchange, the Company’s primary listing (Reuters ‘CFR.VX’/Bloomberg ‘CFR:VX’/ISIN CH0210483332) and are included in the Swiss Market Index (‘SMI’) of leading stocks. South African depository receipts in respect of Richemont ‘A’ shares are traded on the Johannesburg stock exchange, the Company’s secondary listing (Reuters ‘CFRJ.J’/Bloomberg ‘CFR:SJ’/ISIN CH0045159024).

Richemont is pleased to announce that it has acquired 100% of Buccellati Holding Italia S.p.A., the owner of Buccellati, the renowned Italian jewellery Maison, in a private transaction with Gangtai Group Corporation Limited, a privately held conglomerate, which captures the growth in the consumer, culture, finance, and health industries.

Buccellati was founded in Milan in 1919 by Mr Mario Buccellati. The Maison has a rich history and patrimony, distinguished by exceptional craftsmanship and unique know-how. Its jewellery creations are renowned for their highly distinctive look-and-feel evoking silk, damask, tulle and linen. All jewellery pieces are handcrafted with techniques dating back to the Renaissance, in Buccellati’s four in-house workshops, all located in Italy. Buccellati is also active in the fields of watchmaking and silverware.

Commenting on the acquisition, Mr Johann Rupert, Chairman of Richemont, said:

“Distinguished by strong heritage, craftsmanship and family spirit, Buccellati is one of the few Maisons in the dynamic branded jewellery market which is complementary to our existing jewellery Maisons, in terms of style, origins and craftsmanship. Buccellati meets the needs of today’s customers who are looking for creative jewellery, with a highly distinctive style.

We welcome Andrea Buccellati, his family and his team. With them, we share a culture of constant quest for creativity, innovation, quality and excellence. We look forward to ensuring the long term development of this unique jewellery Maison.”

Mr Xu Jiangang, founder and Chairman of Gangtai Group, commented:

“We are extremely glad to have successfully contributed to the introduction of the prestigious Buccellati brand in the Greater China market, strengthening Buccellati’s identity and enhancing all of the elements which make it one of the best-known brands worldwide in the fine jewellery sector. We are now honoured and proud that Richemont will continue the journey, ensuring Buccellati’s great success, starting from the celebration of its 100th Anniversary.”

Mr Andrea Buccellati, Honorary Chairman and Creative Director of Buccellati, said:

“We are proud to join Richemont, a family-spirited Group and nurturer of prestigious luxury Maisons, with an undisputed expertise in jewellery. We value their long term strategic thinking and look forward to seeing the potential of Buccellati realised as part of Richemont.”

The transaction closed on 26 September 2019 and will have no material financial impact on Richemont’s consolidated net assets or operating result for the year ending 31 March 2020. The results of Buccellati will be reported under the Jewellery Maisons business area.

About Richemont

Richemont owns a portfolio of leading international ‘Maisons’ which are recognised for their distinctive heritage, craftsmanship and creativity. The Group operates in four business areas: Jewellery Maisons, namely Cartier and Van Cleef & Arpels; Specialist Watchmakers, namely A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis and Vacheron Constantin; Online Distributors, namely YOOX NET-A-PORTER GROUP (NET-A-PORTER, MR PORTER, YOOX, THE OUTNET) and Watchfinder & Co.; and Other, mostly Fashion & Accessories Maisons, including dunhill, Alaïa, Chloé, Montblanc and Peter Millar.

‘A’ shares issued by Compagnie Financière Richemont SA are listed and traded on SIX Swiss Exchange, the Company’s primary listing, (Reuters ‘CFR.VX’/Bloomberg ‘CFR:VX’/ISIN CH0210483332). South African depository receipts in respect of Richemont ‘A’ shares are traded on the Johannesburg stock exchange, the Company’s secondary listing (Reuters ‘CFRJ.J’/Bloomberg ‘CFR:SJ’/ISIN CH0045159024).

About Gangtai Group

Gangtai Group is a privately held conglomerate which captures the growth in the consumer, culture, finance, and health industries. Gangtai Group aims at being a multinational leader in improving quality of life. Its subsidiary, Gangsu Gangtai Holding (Group) Co. Ltd, is one of largest gold jewelry distributers and a leading internet jewelry retailer in China.

About Buccellati

Buccellati is one of the world’s most renowned high jewellery houses, celebrated for its craftsmanship, design, and one-of-a-kind masterpieces. Buccellati jewels are admired worldwide not only for their design and genuine craftsmanship, but also for the house’s signature engraving techniques, which date back to the ancient traditions of the goldsmith’s ateliers of the Italian Renaissance. Buccellati boutiques can be found worldwide in Milan, Venice, Florence, Cala Di Volpe, Capri, Monte Carlo, Paris, London, Moscow, Dubai, Beirut, Kuwait, Doha, New York, Chicago, Aspen, Beverly Hills, Bal Harbour, Palm Beach, Houston, Hong Kong, Tokyo, Seoul, Osaka, Nagoya, Shanghai, Beijing and Macau. In 2019, Buccellati celebrates its 100th Anniversary.

#OneRichemont  

On Saturday, September 21, 2019 Richemont and Maison employees from New York and Shelton participated in the RBC Race for the Kids held in downtown Manhattan. This is the second year Richemont has participatedin this charitable global race. 

The money raised goes towards programs that provide access to quality education and vocational training opportunities to kids and youth.   

More than 3,700 runners, supporters, families, and friends from over 30 companies came together for a day of friendly competition and fun – all while raising critical funds for New York City youth. Together, RBC Race for the Kids raised $1.7M (and counting!) to support the tireless efforts of Youth INC’s 80 nonprofit partners and  four charity beneficiaries, all of whom are working to transform the lives of young people in every corner of our city.   

Although the event has passed, anyone who missed it can still show their support by donating through the RBC Race for the Kids website.

At the Annual General Meeting of Compagnie Financière Richemont SA held today in Geneva, the shareholders approved the results for the year, including the proposals of the board of directors for the appropriation of retained earnings at 31 March 2019.

A dividend of CHF 2.00 per share will be paid on the listed ‘A’ registered shares and a dividend of CHF 0.20 per share will be paid on the ‘B’ registered shares in the Company. The dividend in respect of the ‘A’ shares will be payable on Friday, 20 September 2019, free of charges but subject to Swiss withholding tax at the rate of 35%. The remaining available retained earnings of the Company, after payment of the dividend, are to be carried forward to the next business year.

All other matters on the agenda were also approved by the shareholders by an overwhelming majority.

About Richemont

Richemont owns a portfolio of leading international ‘Maisons’ which are recognised for their distinctive heritage, craftsmanship and creativity. The Group operates in four business areas: Jewellery Maisons, namely Cartier and Van Cleef & Arpels; Specialist Watchmakers, namely A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis and Vacheron Constantin; Online Distributors, namely YOOX NET-A-PORTER GROUP (NET-A-PORTER, MR PORTER, YOOX, THE OUTNET) and Watchfinder & Co.; and Other, mostly Fashion & Accessories Maisons, including dunhill, Alaïa, Chloé, Montblanc and Peter Millar.

‘A’ shares issued by Compagnie Financière Richemont SA are listed and traded on SIX Swiss Exchange, the Company’s primary listing (Reuters ‘CFR.VX’/Bloomberg ‘CFR:VX’/ISIN CH0210483332) and are included in the Swiss Market Index (‘SMI’) of leading stocks. South African depository receipts in respect of Richemont ‘A’ shares are traded on the Johannesburg stock exchange, the Company’s secondary listing (Reuters ‘CFRJ.J’/Bloomberg ‘CFR:SJ’/ISIN CH0045159024).

Richemont announces that Mr Eric Vallat, Head of Fashion & Accessories Maisons, will step down from his current position and from the Senior Executive Committee for personal reasons. This change is effective 26 October 2019.

Commenting on Mr Vallat's decision, Mr Johann Rupert, Chairman, said:

“Eric has been offered a wonderful opportunity outside the Group and I fully understand his decision to pursue it.

We would like to thank Eric for his many contributions to the Group’s fashion and accessories businesses, positioning them well for the future. We wish him well.”

Richemont's Fashion & Accessories Maisons will report to Mr Jérôme Lambert, Group Chief Executive Officer.

About Richemont

Richemont owns a portfolio of leading international ‘Maisons’ which are recognised for their distinctive heritage, craftsmanship and creativity. The Group operates in four business areas: Jewellery Maisons, namely Cartier and Van Cleef & Arpels; Specialist Watchmakers, namely A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis and Vacheron Constantin; Online Distributors, namely YOOX NET-A-PORTER GROUP (NET-A-PORTER, MR PORTER, YOOX, THE OUTNET) and Watchfinder & Co.; and Other, mostly Fashion & Accessories Maisons, including dunhill, Alaïa, Chloé, Montblanc and Peter Millar.

‘A’ shares issued by Compagnie Financière Richemont SA are listed and traded on SIX Swiss Exchange, the Company’s primary listing (Reuters ‘CFR.VX’/Bloomberg ‘CFR:VX’/ISIN CH0210483332) and are included in the Swiss Market Index (‘SMI’) of leading stocks. South African depository receipts in respect of Richemont ‘A’ shares are traded on the Johannesburg stock exchange, the Company’s secondary listing (Reuters ‘CFRJ.J’/Bloomberg ‘CFR:SJ’/ISIN CH0045159024).

Corporate calendar

The Group’s annual general meeting will be held on Wednesday, 11 September 2019 in Geneva, and its interim results for the current financial year will be announced on Friday, 8 November 2019.

 Investor/analyst and media enquiries

Download

Richemont announces the publication of its annual report and accounts for the year ended 31 March 2019. The report is available for download from the Richemont website at www.richemont.com/investor-relations/reports

Regarding the year under review, the report reflects the information contained in the Richemont annual results announcement issued on 17 May 2019, as well as the audited consolidated financial statements which were posted on the Group’s website the same day. The report also contains the audited Company financial statements and Compensation Report.

The report will be mailed at the end of June to parties who have requested it. Only the printed report is definitive. The report may be obtained from the Company’s registered office at the address below or by contacting the Company via the website at www.richemont.com/group/contact

In South Africa, the report may be obtained directly from the Depository Agent at the following address: Computershare Investor Services Proprietary Limited, Rosebank Towers, 15 Biermann Avenue, Rosebank, Johannesburg, 2196, South Africa.

The official notice for the 2019 annual general meeting and the definitive resolutions to be considered by shareholders will be published on the Group’s website and in the Swiss Gazette on or around 17 July 2019.

For the English version of the annual results company announcement please click here

For the abridged French version of the annual results company annoucement please click here

The management and employees of Richemont wish to express their deep sorrow at the news of the passing of Mr Karl Lagerfeld.

Mr Johann Rupert, Chairman of Richemont, paid the following tribute to Mr Karl Lagerfeld:

“On behalf of all of my colleagues at Richemont, allow me to extend our most sincere condolences to Mr Lagerfeld’s family and to his friends.

“Mr Karl Lagerfeld’s exceptional talent shaped the Maison Chloé for over twenty five years. In 1992, he joined our Group having sold his fashion business to Richemont. After many years of working together and admiring his extremely successful career, I was deeply saddened to learn of his passing.

“Karl was a man of immense culture, creativity and refinement, marked by a vast and eclectic array of interests. He was incredibly successful in reinterpreting a Maison DNA, year after year. As such, he was and will remain an inspiration to many.”

Richemont, the Swiss luxury goods group, announces the publication of its interim report and accounts for the six months ended 30 September 2018. The report is available for download from the Richemont website at https://www.richemont.com/investor-relations/reports.html

The interim report reflects the information contained in the Richemont results announcement issued on 9 November 2018 as well as the unaudited condensed interim consolidated financial statements posted on the Group’s website the same day.

In accordance with stock exchange regulations in Switzerland and South Africa, Richemont no longer prints its interim report.

About Richemont

Richemont owns a portfolio of leading international ‘Maisons’ which are recognised for their distinctive heritage, craftsmanship and creativity. The Group operates in four business areas: Jewellery Maisons, being Cartier and Van Cleef & Arpels; Specialist Watchmakers, being A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Officine Panerai, Piaget, Roger Dubuis and Vacheron Constantin; Online Distributors, being YOOX NET-A-PORTER GROUP and Watchfinder.co.uk; and Other, including Alfred Dunhill, Azzedine Alaïa, Chloé, Montblanc and Peter Millar.

For the financial year ended 31 March 2018, Richemont reported sales of € 10 979 million, operating profit of € 1 844 million and profit for the year of € 1 221 million.

Richemont ‘A’ shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index (‘SMI’) of leading stocks. Richemont South African Depositary Receipts are listed in Johannesburg, Richemont’s secondary listing.

Ahead of the meeting, the Group announces that its sales for the five months ended 31 August 2018 increased by 25% at constant exchange rates and by 22% at actual exchange rates.

Excluding YOOX NET-A-PORTER GROUP (YNAP) and Watchfinder.co.uk (Watchfinder), which have been consolidated in the Group’s accounts since 1 May 2018 and 1 June 2018 respectively, sales for the period increased by 10% at constant exchange rates and by 7% at actual exchange rates.

Current trading - five month period ended 31 August 2018

* Movements at constant exchange rates are calculated by translating underlying sales in local currencies into euros in both the current five-month period and the comparative period at the average exchange rates applicable for the financial year ended 31 March 2018

The following commentary on the Group’s performance refers to year-on-year movements at constant exchange rates.

Double digit sales growth during the first five months was primarily driven by strong performance by the Jewellery Maisons, where sales grew 14%, and the first-time consolidation of Online Distributors. For this new business area, which regroups YNAP and Watchfinder, sales grew at a double digit rate.

In order to provide meaningful comparisons to the prior year period, the comments below relate to current period sales excluding YNAP and Watchfinder.

All regions, with the exception of the Middle East, posted growth, led by solid momentum in Asia Pacific and the Americas. Hong Kong, Korea and Macau all generated double digit increases while China showed good growth. Europe had mixed performances throughout the region and was impacted by the strength of the euro and a challenging year-on-year comparison in the United Kingdom. In Japan, growth reflected both higher domestic and tourist spending.

Retail sales increased by 14%, with growth in all regions, most notably in Asia Pacific and the Americas. Retail sales were driven by strong performances by the Jewellery Maisons and the Specialist Watchmakers. Wholesale sales increased 2%, reflecting our continued focus to align inventories with end-client demand.

Richemont’s other businesses reported a 4% sales growth, partly impacted by the divestments of Lancel and Shanghai Tang. Most Maisons performed positively, led primarily by Peter Millar and Azzedine Alaïa, and a solid performance from Montblanc.

The results for the six months ending 30 September 2018 will be announced on 9 November 2018.

Disclaimer

The foregoing financial information is unaudited.

About Richemont

Richemont owns a portfolio of leading international ‘Maisons’ which are recognised for their distinctive heritage, craftsmanship and creativity. The Group operates in four business areas: Jewellery Maisons, being Cartier and Van Cleef & Arpels; Specialist Watchmakers, being A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Officine Panerai, Piaget, Roger Dubuis and Vacheron Constantin; Online Distributors, being YOOX NET-A-PORTER GROUP and Watchfinder.co.uk; Other, including Alfred Dunhill, Azzedine Alaïa, Chloé, Montblanc and Peter Millar.

For the financial year ended 31 March 2018, Richemont reported sales of € 10'979 million, operating profit of € 1'844 million and profit for the year of € 1'221 million.

Richemont ‘A’ shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index (‘SMI’) of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

At the Annual General Meeting of Compagnie Financière Richemont SA held today in Geneva, the shareholders approved the results for the year, including the proposals of the board of directors for the appropriation of retained earnings at 31 March 2018.

A dividend of CHF 1.900 per share will be paid on the listed 'A' registered shares and a dividend of CHF 0.190 per share will be paid on the 'B' registered shares in the Company. The dividend in respect of the ‘A’ shares will be payable on 21 September 2018, free of charges but subject to Swiss withholding tax at the rate of 35 %. The remaining available retained earnings of the Company, after payment of the dividend, are to be carried forward to the next business year.

All other matters on the agenda were also approved by the shareholders by an overwhelming majority.

About Richemont shares

Richemont ‘A’ shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

Richemont is pleased to announce the appointment of Mr Jérôme Lambert, currently Group Chief Operating Officer, as Group Chief Executive Officer with immediate effect.

Mr Lambert has had an extensive career with Richemont, having led Jaeger-LeCoultre and Montblanc and overseen the Group’s Specialist Watchmakers, Montblanc and the Group’s Fashion and Accessories businesses prior to taking on the role of Group Chief Operating Officer last year.

“Jérôme’s new role sees him taking responsibility for the Group’s future growth at a time when consumer habits are changing significantly. As we position the Group to meet these challenges, he will lead the development of strategic plans reflecting the long-term objectives and priorities established by the Board.

As first amongst equals, he will work in partnership with his fellow senior executives on the Board: Cyrille Vigneron, Chief Executive of Cartier, Nicolas Bos, Chief Executive of Van Cleef & Arpels and Burkhart Grund, Chief Finance Officer, to ensure a coherent approach to achieving our common goals while respecting the individuality of our Maisons.”

Richemont’s Specialist Watchmakers, Online Distributors and Other businesses, as well as central and regional functions, will report to Jérôme. Jérôme will continue to be supported by Sophie Guieysse, Group Human Resources Director, Federico Marchetti, CEO of YOOX NET-A-PORTER GROUP, Emmanuel Perrin in overseeing the Group’s Specialist Watchmaker Maisons and by Eric Vallat, Head of Fashion and Accessories Maisons.

About Richemont

Richemont owns a portfolio of leading international ‘Maisons’ which are recognised for their distinctive heritage, craftsmanship and creativity. The Group operates in four business areas: Jewellery Maisons, being Cartier and Van Cleef & Arpels; Specialist Watchmakers, being A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Officine Panerai, Piaget, Roger Dubuis and Vacheron Constantin; Online Distributors, being YOOX NET-A-PORTER GROUP and Watchfinder.co.uk; Other, including Alfred Dunhill, Azzedine Alaïa, Chloé, Montblanc and Peter Millar.

For the financial year ended 31 March 2018, Richemont reported sales of € 10'979 million, operating profit of € 1'844 million and profit for the year of € 1'221 million.

Richemont ‘A’ shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index (‘SMI’) of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

Richemont, the Swiss luxury goods group, announces that it proposes Ms Sophie Guieysse for election as an Executive Director to the Board of Directors of Compagnie Financière Richemont SA. The election will take place at the next Annual General Meeting, to be held on 10 September 2018.

Ms Guieysse is currently Group Human Resources Director of Richemont and a member of its Senior Executive Committee. Ms Guieysse will report to Mr Lambert, Group Chief Operating Officer, equally member of the Senior Executive Committee and a Director on the Board of Compagnie Financière Richemont SA.

Ms Guieysse joined Richemont in her current capacity in October 2017 from Dior where she had been advising on the future of luxury in a connected world. She serves on the Board of Directors of Maisons du Monde and is Chairman of the Nominations & Compensation Committee. In addition, Ms Guieysse is a member of the Remuneration Committee of Paris 2024 Olympic Games Organising Committee and of the 2023 Rugby World Cup Organising Committee.

Details regarding the Board of Directors may be found on the Group’s website at: http://www.richemont.com/about-richemont/corporate-governance/board-of-cfr-sa.html

About Richemont

Richemont owns a portfolio of leading international ‘Maisons’ which are recognised for their distinctive heritage, craftsmanship and creativity. The Group operates in three segments: Jewellery Maisons, being Cartier, Van Cleef & Arpels and Giampiero Bodino; Specialist Watchmakers, being A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Officine Panerai, Piaget, Roger Dubuis and Vacheron Constantin; and Other, including Alfred Dunhill, Azzedine Alaïa, Chloé, Montblanc and Peter Millar as well as watch component manufacturing activities.

In addition, Richemont owns YOOX NET-A-PORTER GROUP S.p.A., the world’s leading online luxury retailer.

For the financial year ended 31 March 2018, Richemont reported sales of € 10'979 million, operating profit of € 1'844 million and profit for the year of € 1'221 million.

Richemont ‘A’ shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index (‘SMI’) of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

Richemont, the Swiss luxury goods group, announces that it has completed the sale of its wholly-owned subsidiary, Lancel, a French luxury leather goods company, on 2 June 2018 to Piquadro S.p.A., an Italian leather goods group listed on the Milan Stock Exchange. The transaction will have no material impact on Richemont’s balance sheet, cash flow or results for the year ending 31 March 2019.

About Richemont

Richemont owns a portfolio of leading international ‘Maisons’ which are recognised for their distinctive heritage, craftsmanship and creativity. The Group operates in three segments: Jewellery Maisons, being Cartier, Van Cleef & Arpels and Giampiero Bodino; Specialist Watchmakers, being A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Officine Panerai, Piaget, Roger Dubuis and Vacheron Constantin; and Other, including Alfred Dunhill, Azzedine Alaïa, Chloé, Montblanc and Peter Millar as well as watch component manufacturing activities.

In addition, Richemont’s voluntary public tender offer for all ordinary shares of YOOX NET-APORTER GROUP S.p.A. is expected to complete in June 2018.

For the financial year ended 31 March 2018, Richemont reported sales of € 10'979 million, operating profit of € 1'844 million and profit for the year of € 1'221 million.

Richemont ‘A’ shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index (‘SMI’) of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

Richemont, the Swiss luxury goods group, is pleased to announce that it has reached agreement to acquire 100% of the share capital of Watchfinder.co.uk Limited (“Watchfinder” or “the Company”), the leading pre-owned premium watch specialist, in a private transaction with its shareholders.

Established in 2002 in the United Kingdom, Watchfinder has grown organically under the careful stewardship of co-founder Stuart Hennell to become the leading platform to research, buy and sell premium pre-owned watches, both online and through its seven boutiques. In addition, Watchfinder operates a highly qualified customer service centre and employs c.200 employees worldwide.

Commenting on the transaction, Mr Johann Rupert, Chairman of Richemont, said:

“Sixteen years ago, Watchfinder’s founders foresaw the need for an online marketplace for premium pre-owned timepieces. Watch enthusiasts themselves, they established Watchfinder to provide excellence in customer experience. We believe there are substantial opportunities to help grow the Company further. Today, Watchfinder operates both as an ‘online’ and ‘offline’ business in a complementary, growing, and still relatively unstructured segment of the industry.

Together with YOOX NET-A-PORTER and our stake in Dufry, the acquisition of Watchfinder is another step in Richemont’s strategy. It will enable us to better serve the sophisticated needs of a discerning clientele.

We welcome Stuart Hennell and his team, and look forward to ensuring Watchfinder remains the compelling destination for premium pre-owned timepieces.”

The transaction is expected to close in the summer of 2018 and will have no material impact on Richemont’s consolidated net assets or operating result for the year ending 31 March 2019.

About Richemont

Richemont owns a portfolio of leading international ‘Maisons’ which are recognised for their distinctive heritage, craftsmanship and creativity. The Group operates in three segments: Jewellery Maisons, being Cartier, Van Cleef & Arpels and Giampiero Bodino; Specialist Watchmakers, being A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Officine Panerai, Piaget, Roger Dubuis and Vacheron Constantin; and Other, including Alfred Dunhill, Azzedine Alaïa, Chloé, Lancel, Montblanc and Peter Millar as well as watch component manufacturing activities.

In addition, Richemont’s voluntary public tender offer for all ordinary shares of YOOX NET-APORTER GROUP S.p.A. is expected to complete in June 2018.

For the financial year ended 31 March 2018, Richemont reported sales of € 10'979 million, operating profit of € 1'844 million and profit for the year of € 1'221 million.

Richemont ‘A’ shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index (‘SMI’) of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

Richemont, the Swiss luxury goods group, announces the publication of its annual report and accounts for the year ended 31 March 2018. The report is available for download from the Richemont website at www.richemont.com/investor-relations/reports.html

Regarding the year under review, the report reflects the information contained in the Richemont annual results announcement issued on 18 May 2018, as well as the audited consolidated financial statements which were posted on the Group’s website the same day. The report also contains the audited Company financial statements and Compensation Report.

The report will be mailed on 27 June 2018 to holders of Richemont shares and South African depositary receipts and other parties who have requested it. Only the printed report is definitive. The report may be obtained from the Company’s registered office at the address below or by contacting the Company via the website at www.richemont.com/group/contact.html

In South Africa, the report may be obtained directly from the Depository Agent at the following address: Computershare Investor Services (Proprietary) Limited, Rosebank Towers, 15 Biermann Avenue, Rosebank, 2196, South Africa.

The official notice for the 2018 annual general meeting and the definitive resolutions to be considered by shareholders will be published on the Group’s website and in the Swiss Gazette on or around 18 July 2018.

About Richemont

Richemont owns a portfolio of leading international ‘Maisons’ which are recognised for their distinctive heritage, craftsmanship and creativity. The Group operates in three segments: Jewellery Maisons, being Cartier, Van Cleef & Arpels and Giampiero Bodino; Specialist Watchmakers, being A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Officine Panerai, Piaget, Roger Dubuis and Vacheron Constantin; and Other, including Alfred Dunhill, Azzedine Alaïa, Chloé, Lancel, Montblanc and Peter Millar as well as watch component manufacturing activities.

In addition, Richemont’s voluntary public tender offer for all ordinary shares of YOOX NET-APORTER GROUP S.p.A. is expected to complete in June 2018.

For the financial year ended 31 March 2018, Richemont reported sales of € 10'979 million, operating profit of € 1'844 million and profit for the year of € 1'221 million.

Richemont ‘A’ shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index (‘SMI’) of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

Richemont, the Swiss luxury goods group, announces Mr Eric Vallat has been appointed to the newly created role of Head of Fashion & Accessories Maisons and will join the Group’s Senior Executive Committee, effective 1 June 2018.

Mr Eric Vallat will report to Mr Jérôme Lambert, Chief Operating Officer.

A graduate from the HEC business school (France), Mr Vallat brings over 20 years of managerial experience across Louis Vuitton Europe, Christian Dior Couture Japan, Bonpoint and J.M. Weston and, since 2014, Rémy Martin as CEO. In his latest position, Mr Vallat was also a member of the Rémy Cointreau Group’s Executive Committee and, since 2016, chairman of Mount Gay Rum.

About Richemont

Richemont owns a portfolio of leading international ‘Maisons’ which are recognised for their distinctive heritage, craftsmanship and creativity. The Group operates in three segments: Jewellery Maisons, being Cartier, Van Cleef & Arpels and Giampiero Bodino; Specialist Watchmakers, being A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Officine Panerai, Piaget, Roger Dubuis and Vacheron Constantin; and Other, including Alfred Dunhill, Azzedine Alaïa, Chloé, Lancel, Montblanc and Peter Millar as well as watch component manufacturing activities.

For the financial year ended 31 March 2018, Richemont reported sales of € 10'979 million, operating profit of € 1'844 million and profit for the year of € 1'221 million.

Richemont ‘A’ shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index (‘SMI’) of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

Compagnie Financière Richemont SA (Richemont), the Swiss luxury goods group, announces that Dr Jean-Jacques Van Oosten has relinquished his responsibilities as Chief Technology Officer for personal reasons and has stepped down from the Senior Executive Committee with effect from 2 May 2018.

We respect Dr Jean-Jacques Van Oosten’s decision to pursue his career outside the Group and wish him every success in his future endeavours.

About Richemont

Richemont owns a portfolio of leading international ‘Maisons’ which are recognised for their distinctive heritage, craftsmanship and creativity. The Group operates in three segments: Jewellery Maisons, being Cartier, Van Cleef & Arpels and Giampiero Bodino; Specialist Watchmakers, being A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Officine Panerai, Piaget, Roger Dubuis and Vacheron Constantin; and Other, including Alfred Dunhill, Azzedine Alaïa, Chloé, Lancel, Montblanc and Peter Millar as well as watch component manufacturing activities.

In addition, Richemont holds a 49% equity-accounted interest in YOOX NET-A-PORTER GROUP, a publicly traded company.

For the financial year ended 31 March 2017, Richemont reported sales of € 10'647 million, operating profit of € 1'764 million and profit for the year of € 1'210 million.

Richemont ‘A’ shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index (‘SMI’) of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

Richemont, the Swiss luxury goods group, announces that it has successfully placed its inaugural Euro denominated bond transaction today with a volume of €3.75 billion, following a roadshow with fixed income investors across Europe.

The transaction launched on 15 March with three tranches maturing in 2026, 2030 and 2038. The notes are priced with a coupon of 1.0% for the €1.5bn 8 year maturity note, 1.5% for the €1.25bn 12 year note and 2.0% for the €1.0bn 20 year note.

The notes are expected to receive a rating of A+ (stable) in line with the rating assigned to Compagnie Financière Richemont SA by S&P Global Ratings.

The net proceeds of the issue of the notes will be used for the Group’s general corporate purposes, which may include funding the acquisition of the ordinary shares of YOOX NET-A-PORTER GROUP S.p.A. (YNAP), in whole or in part, pursuant to the YNAP voluntary public tender offer.

Commenting on the bond transaction, Johann Rupert, Chairman of Richemont, said:

Richemont will make an application for the notes to be listed on the regulated market of the Luxembourg Stock Exchange.

About Richemont

Richemont owns a portfolio of leading international ‘Maisons’ which are recognised for their distinctive heritage, craftsmanship and creativity. The Group operates in three segments: Jewellery Maisons, being Cartier, Van Cleef & Arpels and Giampiero Bodino; Specialist Watchmakers, being A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Officine Panerai, Piaget, Roger Dubuis and Vacheron Constantin as well as the Ralph Lauren Watch and Jewelry joint venture; and Other, including Alfred Dunhill, Azzedine Alaïa, Chloé, Lancel, Montblanc and Peter Millar as well as watch component manufacturing activities.

In addition, Richemont holds a 49% equity-accounted interest in YOOX NET-A-PORTER GROUP, a publicly traded company.

For the financial year ended 31 March 2017, Richemont reported sales of € 10'647 million, operating profit of € 1'764 million and profit for the year of € 1'210 million.

Richemont ‘A’ shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

Tribute to Mr Azzedine Alaïa

Paying tribute to Mr Azzedine Alaïa Mr Johann Rupert, Chairman, said:

“Azzedine Alaïa was not only a colleague but a great friend, so it was with shock and enormous sadness that I heard of his untimely passing. The industry has lost an exceptional talent. He was a man of integrity and kindness who was also a true creative genius. With his unique approach to couture, he created a distinctive style that will forever set his creations apart.

Azzedine will be missed by all of us who had the good fortune to work with him. I wish to extend my sincerest condolences to his family and his friends.”

Established in 1983, the Maison Azzedine Alaïa, under the artistic control of Mr Alaïa, developed a reputation for originality in design as well as the choice and cut of materials. Each piece is unique, crafted with traditional dressmaking skills and passion in Mr Alaïa’s Parisian atelier.

Richemont is pleased to announce the publication of its interim report and accounts for the six months ended 30 September 2017. The report may be downloaded from the Richemont website at https://www.richemont.com/investor-relations/reports.html

The interim report reflects the information contained in the Richemont results announcement issued on 10 November 2017 as well as the unaudited condensed interim consolidated financial statements posted on the Group’s website the same day.

In accordance with stock exchange regulations in Switzerland and South Africa, Richemont no longer prints its interim report.

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Richemont 'A' shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Depository Receipts in respect of Richemont ‘A’ shares are listed on the Johannesburg stock exchange operated by JSE Limited, Richemont’s secondary listing.

Chief Operating Officer

Mr Jérôme Lambert has been appointed to the newly created role of Chief Operating Officer. Mr Lambert will be responsible for all Maisons other than Cartier and Van Cleef & Arpels. In addition, he will continue to be responsible for the Richemont regional support platforms and central support services, excluding Finance, Human Resources and Technology.

Specialist Watchmakers

To assist Mr Lambert, Mr Emmanuel Perrin, currently International Sales Director of Cartier, will be appointed Head of Specialist Watchmakers Distribution. In this newly created position, he will be responsible for the coordination of all Specialist Watchmakers’ distribution strategies. Mr Perrin will join the Senior Executive Committee effective immediately.

Commenting on the changes, Mr Johann Rupert, Chairman, said:

SIX Swiss Exchange requires that issuers make an announcement without delay where the foreseeable profit or loss for a given period is expected to deviate significantly from the profit or loss achieved in the prior year period. Both significant increases and decreases in the anticipated, unaudited profit or loss require the publication of an ad hoc notice to the market. In accordance with these requirements, Richemont makes the following announcement:

Trading for the six months ended 30 September 2017 showed sales rising 10% on a reported basis and 12% on a constant currency basis compared to the prior year period. On this basis, Richemont’s operating profit for the six months ended 30 September 2017 is likely to show an increase of approximately 45% against the comparative period. The corresponding profit for the period is expected to increase by approximately 80%. These increases predominantly reflect the non-recurrence of the exceptional inventory buy-backs in the prior year period, improved trading performance and the positive net impact of movements in period-end exchange rates.

Disclaimer

The foregoing financial information is unaudited.

About Richemont

Richemont owns a portfolio of leading international ‘Maisons’ which are recognised for their distinctive heritage, craftsmanship and creativity. The Group operates in three segments: Jewellery Maisons, being Cartier, Van Cleef & Arpels and Giampiero Bodino; Specialist watchmakers, being A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Officine Panerai, Piaget, Roger Dubuis and Vacheron Constantin as well as the Ralph Lauren Watch and Jewellery joint venture; and Other, including Alfred Dunhill, Azzedine Alaïa, Chloé, Lancel, Montblanc and Peter Millar as well as watch component manufacturing activities.

In addition, Richemont holds a 49% equity-accounted interest in the YOOX Net-A-Porter Group, a publicly traded company.

For the financial year ended 31 March 2017, Richemont reported sales of € 10 647 million, operating profit of € 1 764 million and profit for the year of € 1 210 million.

Richemont ‘A’ shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

Cautionary statement regarding forward-looking statements

This document contains forward-looking statements as that term is defined in the United States Private Securities Litigation Reform Act of 1995. Words such as ‘may’, ‘should’, ‘estimate’, ‘project’, ‘plan’, ‘believe’, ‘expect’, ‘anticipate’, ‘intend’, ‘potential’, ‘goal’, ‘strategy’, ‘target’, ‘will’, ‘seek’ and similar expressions may identify forward-looking statements. Such forward-looking statements are not guarantees of future performance. Actual results may differ materially from the forward-looking statements as a result of a number of risks and uncertainties, many of which are outside the Group’s control.

Richemont, the Swiss luxury goods group, wishes to announce the following appointments to its Senior Executive Committee.

Chief Technology Officer

Dr Jean-Jacques van Oosten has been appointed to the newly created role of Chief Technology Officer and will join the Senior Executive Committee effective 1 January 2018.

Dr van Oosten’s twenty one-year career has been primarily in the retail and digital sectors. Prior to his latest role as Group Chief Digital Officer and CEO of Rewe Digital, Dr van Oosten held a number of CIO positions at Travis Perkins Group, Tesco, Kingfisher, EDS and Unilever. Through his consulting company, Dr van Oosten advised retailers on their multichannel strategy, roadmap and transformation programmes. He graduated from the London Business School and holds a PhD in molecular genetics.

Group Human Resources Director

Ms Sophie Guieysse has been appointed Group Human Resources Director and will join the Senior Executive Committee effective 1 October 2017.

A graduate from the Ecole Polytechnique and Ecole Nationale des Ponts et Chaussées, Ms Guieysse began her career holding operational functions at a number of French Ministries. From 1997 until 2005, she held various human resources roles at LVMH. Her ultimate role there was as Director of Human Resources of the LVMH group. In 2005, Ms Guieysse joined Canal + group where she spent ten years as Human Resources Director and member of the Executive Committee. Since 2016, Ms Guieysse had been advising Dior on the future of luxury in a connected world.

Ms Guieysse will succeed Mr Thomas Lindemann who will leave Richemont for personal reasons and step down from the Group Management Committee with effect from 31 October 2017. Mr Lindemann was appointed Group Human Resources Director and member of the Group Management Committee in 2005. Prior to that, he held the role of Human Resources Director first at Montblanc and then at Richemont Northern Europe.

Commenting on the changes, Mr Johann Rupert, Chairman, said:

About Richemont

Richemont owns a portfolio of leading international ‘Maisons’ which are recognised for their distinctive heritage, craftsmanship and creativity. The Group operates in three segments: Jewellery Maisons, being Cartier, Van Cleef & Arpels and Giampiero Bodino; Specialist watchmakers, being A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Officine Panerai, Piaget, Roger Dubuis and Vacheron Constantin as well as the Ralph Lauren Watch and Jewellery joint venture; and Other, including Alfred Dunhill, Azzedine Alaïa, Chloé, Lancel, Montblanc and Peter Millar as well as watch component manufacturing activities.

In addition, Richemont holds a 49% equity-accounted interest in the YOOX Net-A-Porter Group, a publicly traded company.

For the financial year ended 31 March 2017, Richemont reported sales of € 10 647 million, operating profit of € 1 764 million and profit for the year of € 1 210 million.

Richemont ‘A’ shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

* Movements at constant exchange rates are calculated by translating underlying sales in local currencies into euros in both the current five-month period and the comparative period at the average exchange rates applicable for the financial year ended 31 March 2017.

Compagnie Financière Richemont SA’s Annual General Meeting will be held later today in Geneva, Switzerland.

Ahead of that meeting, the Group announces that its sales for the five months ended 31 August 2017 increased by 12% at constant exchange rates and by 10% at actual exchange rates. Excluding the exceptional inventory buy-backs in the comparative period, constant currency sales increased by 7% for the period.

Current trading - five month period ended 31 August 2017

The following comments on the Group’s performance refer to year-on-year movements at constant exchange rates.
The double digit sales growth during the first five months was primarily driven by strong performance in the Jewellery Maisons and easier comparative figures.

Sales increased in all regions, led by Asia Pacific. The strong performance in Asia Pacific was supported by double digit increases in most markets, including China and Hong Kong, where a large part of the exceptional inventory buy-backs took place in the comparative period. The 3% growth in Europe reflects contrasted performances within the region as well as the emerging negative impact of a strong euro on tourist spending. In the United Kingdom, however, sales grew at a double digit rate benefitting from favourable currency movements. In Japan, growth reflected higher domestic and tourist spending. Sales in the Middle East showed subdued growth, impacted by geopolitical uncertainties.

Retail sales increased in most regions, with solid growth in Asia Pacific, Japan and the Americas. Retail sales were driven by strong performances in the Jewellery Maisons and the Specialist Watchmakers as well as by the reopening of the Cartier flagship stores in New York and Tokyo a year ago. The 11% increase in wholesale sales primarily reflects the impact of the non-recurrence of the exceptional inventory buy-backs.

Richemont’s other businesses reported sales growth overall, with most Maisons showing continued progress.

The results for the six-months ending 30 September 2017 will be announced on 10 November 2017.

Disclaimer

The foregoing financial information is unaudited.

About Richemont

Richemont owns a portfolio of leading international ‘Maisons’ which are recognised for their distinctive heritage, craftsmanship and creativity. The Group operates in three segments: Jewellery Maisons, being Cartier, Van Cleef & Arpels and Giampiero Bodino; Specialist watchmakers, being A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Officine Panerai, Piaget, Roger Dubuis and Vacheron Constantin as well as the Ralph Lauren Watch and Jewellery joint venture; and Other, including Alfred Dunhill, Azzedine Alaïa, Chloé, Lancel, Montblanc and Peter Millar as well as watch component manufacturing activities.

In addition, Richemont holds a 49% equity-accounted interest in the YOOX Net-A-Porter Group, a publicly traded company.

For the financial year ended 31 March 2017, Richemont reported sales of € 10 647 million, operating profit of € 1 764 million and profit for the year of € 1 210 million.

Richemont ‘A’ shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

At the Annual General Meeting of Compagnie Financière Richemont SA held today in Geneva, the shareholders approved the results for the year, including the proposals of the board of directors for the appropriation of retained earnings at 31 March 2017.

A dividend of CHF 1.800 per share will be paid on the listed 'A' registered shares and a dividend of CHF 0.180 per share will be paid on the unlisted 'B' registered shares of the Company. The dividend in respect of the ‘A’ shares will be payable on 22 September 2017, free of charges but subject to Swiss withholding tax at the rate of 35 %. The remaining available retained earnings of the Company, after payment of the dividend, are to be carried forward to the next business year.

All other matters on the agenda were also approved by the shareholders by an overwhelming majority.

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Richemont ‘A’ shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

Richemont regrets to announce the resignation with immediate effect of Mr Georges Kern. Mr Kern was Head of Watchmaking, Marketing and Digital. He has stepped down from the Senior Executive Committee and the Group Management Committee and will no longer be standing for election to the Board of Directors of Compagnie Financière Richemont SA at the forthcoming annual general meeting of shareholders.

Commenting on Mr Kern's decision, Mr Johann Rupert, Chairman, said:

Richemont's watchmaking, marketing and digital activities will report to the Senior Executive Committee.

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Richemont owns a portfolio of leading international brands or ‘Maisons’ which are managed independently of one another, recognising their individuality and uniqueness. The businesses operate in three business areas: Jewellery Maisons, being Cartier, Van Cleef & Arpels and Giampiero Bodino; Specialist Watchmakers, being A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Officine Panerai, Piaget, Roger Dubuis and Vacheron Constantin, as well as the Ralph Lauren Watch and Jewelry joint venture; and Other, including Alfred Dunhill, Chloé, Lancel, Montblanc as well as other smaller Maisons and unbranded watch component manufacturing activities.

In addition, Richemont holds a 49% equity-accounted interest in the YOOX Net-A-Porter Group, a publicly traded company.

For its financial year ended 31 March 2017, Richemont reported sales of € 10 647 million. Operating profit for the year amounted to € 1 764 million. Net profit for the year amounted to € 1 210 million.

Richemont ‘A’ shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

Richemont, the Swiss luxury goods group, announces that it has completed the sale of its wholly-owned subsidiary, Shanghai Tang, on 30 June 2017 to an entity controlled by Mr Alessandro Bastagli, an Italian entrepreneur. The transaction will have no material impact on Richemont’s balance sheet, cash flow or results for the year ending 31 March 2018.

Established in 1994 in Hong Kong by Sir David Tang, Shanghai Tang was the first contemporary luxury brand from China. Its modern and sophisticated range of men’s and women’s clothing, accessories and home decorations combine the style and heritage of the orient with western design influences. Richemont took a controlling stake in 1998 and acquired 100% ownership in 2008.

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Richemont owns a portfolio of leading international brands or ‘Maisons’ which are managed independently of one another, recognising their individuality and uniqueness. The businesses operate in three business areas: Jewellery Maisons, being Cartier, Van Cleef & Arpels and Giampiero Bodino; Specialist Watchmakers, being A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Officine Panerai, Piaget, Roger Dubuis and Vacheron Constantin, as well as the Ralph Lauren Watch and Jewelry joint venture; and Other, including Alfred Dunhill, Chloé, Lancel, Montblanc as well as other smaller Maisons and unbranded watch component manufacturing activities.

In addition, Richemont holds a 49% equity-accounted interest in the YOOX Net-A-Porter Group, a publicly traded company.

For its financial year ended 31 March 2017, Richemont reported sales of € 10 647 million. Operating profit for the year amounted to € 1 764 million. Net profit for the year amounted to € 1 210 million.

Richemont ‘A’ shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

Richemont is pleased to announce the publication of its annual report and accounts for the year ended 31 March 2017. 

Regarding the year under review, the report reflects the information contained in the Richemont results announcement issued on 12 May 2017, as well as the audited consolidated financial statements which were posted on the Group’s website the same day. The report also contains the audited Company financial statements and Compensation Report.

The report will be mailed on 23 June 2017 to all holders of Richemont shares and South African depositary receipts and to other parties who have requested it. Only the printed report is definitive. The report may be obtained from the Company’s registered office at the address below.

In South Africa, the report may be obtained directly from the Depository Agent at the following address: Computershare Investor Services (Proprietary) Limited, Rosebank Towers, 15 Biermann Avenue, Rosebank, 2196, South Africa.

The official notice for the 2017 annual general meeting and the definitive resolutions to be considered by shareholders will be published on the Group’s website and in the Swiss Gazette on or around 19 July 2017.

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Richemont “A” shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

Richemont’s three-year share buy-back programme announced on 15 May 2014 ended today. Under the programme, the Company repurchased a total of 5 185 000 ‘A’ shares, representing 0.9 % of the capital and 0.5 % of the voting rights of Compagnie Financière Richemont SA. Richemont’s share purchase history can be found on the Company’s website at:
https://www.richemont.com/investor-relations/share-buy-back-information.html

In addition, Richemont announces a new programme to buy-back up to 10 million Richemont ‘A’ shares through the market over the next three years, representing 1.7 % of the capital and 1.0 % of the voting rights of Compagnie Financière Richemont SA.

Purchases will be effected through ‘A’ share purchases on SIX Swiss Exchange at prevailing market prices. The ‘A’ shares acquired will not be cancelled and no second trading line will be introduced as a consequence of the buy-back programme. The ‘A’ shares to be acquired will be held in treasury to hedge awards to executives under the Group’s stock option plan.

Richemont currently holds 9.4 million ‘A’ shares in treasury as a consequence of previous buy-back programmes, which were also linked to the Group’s stock option plan. Those shares represent 1.6 % of the capital and 0.9 % of the voting rights of the Company.

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Richemont ‘A’ shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

Richemont is pleased to announce the publication of its interim report and accounts for the six months ended 30 September 2016. The report may be downloaded from the Richemont website at https://www.richemont.com/investor-relations/reports.html

The interim report reflects the information contained in the Richemont results announcement issued on 4 November 2016 as well as the unaudited condensed interim consolidated financial statements posted on the Group’s website the same day.

In accordance with stock exchange regulations in Switzerland and South Africa, Richemont no longer prints its interim report.

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Richemont 'A' shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

For the English version of the consolidated results for the six months period ended 30 September 2016 company announcement please click here

For the abridged French version of the consolidated results for the six months period ended 30 September 2016 company announcement please click here

The Nominations Committee and Board of Compagnie Financière Richemont SA met yesterday and, inter alia, considered succession planning issues. The Board considered the impact on the Group’s management structure of the impending retirement of key executives. It also considered the composition of the Board itself, recognising that rapidly changing technologies bring significant challenges to traditional business models.

Mr Richard Lepeu, Chief Executive Officer, has intimated his intention to retire with effect from 31 March 2017, when he will have reached retirement age. Mr Gary Saage, Chief Financial Officer, will re-join his family in the United States and retire from his current role effective 31 July 2017.

The Board has therefore decided to restructure the responsibilities of senior management in the Group, recognising the need to be able to react quickly to the challenges facing businesses in general and the luxury industry at this time.

Mr Johann Rupert will remain as Executive Chairman of the Group. The following senior executives will be nominated to the Board of Compagnie Financière Richemont SA for shareholder approval at the annual general meeting to be held in September 2017:

Mr Nicolas Bos, who will join the Board in his capacity as CEO of Van Cleef & Arpels;

Mr Burkhart Grund, currently Deputy Chief Financial Officer, who will become Chief Financial Officer;

Mr Georges Kern, currently CEO of IWC Schaffhausen, who will be Head of Watchmaking, Marketing and Digital;

Mr Jérôme Lambert, currently CEO of Montblanc, who will be Head of Operations responsible for central and regional services and all Maisons other than jewellery and watchmaking.

Further nominees to the Board of Directors of the Company may be intimated ahead of the annual general meeting to be held in 2017.

The following directors will retire from the Board of Directors of Compagnie Financière Richemont SA at the 2017 annual general meeting: Mr Yves-André Istel, Mr Bernard Fornas, Mr Richard Lepeu, Mr Simon Murray, Mr Norbert Platt, Lord Renwick of Clifton, Professor Juergen Schrempp and The Duke of Wellington.

Recognising the importance of continuity in the decision making process, the Board wishes to retain the wealth of knowledge that long-serving members and former executives bring to the decision-making process. Mr Istel, Mr Murray, Lord Renwick, Professor Schrempp and The Duke of Wellington will join a new International Advisory Council. The function of the Council will be to act as a sounding board for the Board of Directors, drawing on the significant expertise of its members. Messrs Fornas, Lepeu and Platt, together with Mr Alain-Dominique Perrin, will be appointed as senior advisors to Group management, liaising directly with the Executive Chairman and senior executives.

Mr Burkhart Grund, Deputy Chief Financial Officer, and Mr Frank Vivier, Chief Transformation Officer, will join the Group Management Committee with immediate effect.

Commenting on the proposals, Mr Johann Rupert, Chairman, said:

About Richemont

Richemont owns a portfolio of leading international brands or ‘Maisons’ which are managed independently of one another, recognising their individuality and uniqueness. The businesses operate in four areas: Jewellery Maisons, being Cartier, Van Cleef & Arpels and Giampiero Bodino; Specialist watchmakers, being A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Officine Panerai, Piaget, Roger Dubuis and Vacheron Constantin, as well as the Ralph Lauren Watch and Jewelry joint venture and Other, being Alfred Dunhill, Chloé, Lancel, Montblanc as well as other smaller Maisons and watch component manufacturing activities for third parties. In addition, Richemont holds a 50% equity-accounted interest in the YOOX Net-A-Porter Group, a publicly traded company.

Richemont ‘A’ shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

Compagnie Financière Richemont SA’s Annual General Meeting will be held later today in Geneva.

Ahead of that meeting, the Group announces that its sales for the first five months of the current financial year ended 31 August 2016 decreased by 13% at constant exchange rates and 14% at actual rates. Excluding exceptional watch returns taken back from our multi-brand retail partners, constant currency sales decreased by 10% for the period. The Group also comments on the outlook for the six months ending 30 September 2016.

Following the merger of the Net-A-Porter Group with YOOX S.p.A in October 2015, the figures in the table above exclude The Net-A-Porter Group’s sales in the prior period.
As expected, sales for the five-month period ended 31 August 2016 were below the prior year’s level, reflecting the challenging comparative figures in 2015, the repurchase of slow moving watch inventory and the difficult global environment. Overall currency movements also adversely impacted the Group’s sales.

The following comments on the Group’s underlying performance refer to year-on-year movements at constant exchange rates.

Sales in the United Kingdom have shown growth since the weakening of sterling against most currencies at the end of June following the EU referendum. Elsewhere in Europe, sales were down, particularly in France, due to a significantly lower level of tourist activity. The Americas saw positive momentum in both jewellery and accessories but saw an overall decline in sales due to a weaker performance in watches. In the Asia-Pacific region, growth in mainland China and Korea was more than offset by the continuing weakness of the Hong Kong and Macau markets. The policy of buying back inventory to assist our multi-brand retail partners was primarily focused on these two markets. Japan reported significantly lower sales against very high comparative figures. The strength of the yen also depressed tourist spending in the country, with a noticeable impact on sales.

Retail declined overall, primarily due to Europe and Japan. All other regions’ sales declines were low single digits, supported by jewellery and accessories. The marked decrease in wholesale sales reflected the continuing negative trend overall, and the above mentioned watch inventory buy backs.

Richemont’s other businesses, as a whole, reported sales growth, thanks to positive performances at Montblanc, Chloé, Azzedine Alaïa and Peter Millar.

Outlook
We consider that the difficult trading conditions are likely to continue during September. Operating profit for the six months ending 30 September 2016 is therefore expected to be approximately 45% below the prior year’s level, reflecting the effect of one-off restructuring charges of approximately €65 million, and the additional effect of the product buy-backs.

Consequently, we anticipate profit for the period for the six months ending 30 September 2016 will also be impacted at a broadly similar level to the decline in operating profit. Profit for the period reflects not only the movement in operating profit but also the impact of movements in period-end exchange rates, interest, taxation and discontinued operations and therefore cannot be determined absolutely at this time. The results for the six months ending 30 September 2016 will be announced on 4 November 2016.

We are of the view that the current negative environment as a whole is unlikely to reverse in the short term. However, we remain convinced of the long-term prospects for luxury goods globally, and in particular for watches and jewellery. Richemont is well positioned, with a strong balance sheet and a portfolio of long-established Maisons.

Disclaimer

The foregoing financial information is unaudited.

Investor and Media contact

Sophie Cagnard
Group Corporate Communications Director

Investor relations

Press enquiries

Tel: +33 1 58 18 25 97

Tel: +41 22 721 3507 

investor.relations@cfrinfo.net

pressoffice@cfrinfo.net

About Richemont

Richemont owns a portfolio of leading international brands or ‘Maisons’ which are managed independently of one another, recognising their individuality and uniqueness. The businesses operate in three areas: Jewellery Maisons, being Cartier, Van Cleef & Arpels and Giampiero Bodino; Specialist watchmakers, being A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Officine Panerai, Piaget, Roger Dubuis and Vacheron Constantin, as well as the Ralph Lauren Watch and Jewelry joint venture; and Other, being Alfred Dunhill, Chloé, Azzedine Alaïa, Lancel, Montblanc and Peter Millar as well as other smaller Maisons and watch component manufacturing activities for third parties.

For its financial year ended 31 March 2016, Richemont reported sales of € 11 076 million. Operating profit for that year amounted to € 2 061 million and profit for the year amounted to € 2 227 million.

Richemont ‘A’ shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

At the Annual General Meeting of Compagnie Financière Richemont SA held today in Geneva, the shareholders approved the results for the year, including the proposals of the board of directors for the appropriation of retained earnings at 31 March 2016.

A dividend of CHF 1.700 per share will be paid on the listed 'A' registered shares and a dividend of CHF 0.170 per share will be paid on the unlisted 'B' registered shares of the Company. The dividend in respect of the ‘A’ shares will be payable on 23 September 2016, free of charges but subject to Swiss withholding tax at the rate of 35 %. The remaining available retained earnings of the Company, after payment of the dividend, are to be carried forward to the next business year.

All other matters on the agenda were also approved by the shareholders by an overwhelming majority.

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Investor and Media enquiries

Sophie Cagnard
Group Corporate Communications Director

Tel: +33 1 5818 2597 (investor relations)
E-mail: investor.relations@cfrinfo.net

Tel: +41 22 721 3507 (press enquiries)
E-mail: pressoffice@cfrinfo.net

Richemont ‘A’ shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

Richemont is pleased to announce the publication of its annual report and accounts for the year ended 31 March 2016. The report may be downloaded from the Richemont website at http://www.richemont.com/investor-relations/reports.html

Regarding the year under review, the report reflects the information contained in the Richemont results announcement, which was issued on 20 May 2016, as well as the audited consolidated financial statements which were posted on the Group’s website the same day. The report also contains the audited Company financial statements and Compensation Report.

The report will be mailed on 24 June 2016 to all holders of Richemont shares and South African depositary receipts and to other parties who have requested it. Only the printed report is definitive. The report may be obtained from the Company’s registered office at the address below or by contacting the Company via the website at http://www.richemont.com/about-richemont/contact.html

In South Africa, the report may be obtained directly from the Depository Agent at the following address: Computershare Investor Services (Proprietary) Limited, 70 Marshall Street, Johannesburg 2001.

The official notice for the 2016 annual general meeting and the definitive resolutions to be considered by shareholders will be published in the Swiss Gazette on or around 20 July 2016.

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Richemont “A” shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

For the English version of the annual results company announcement please click here

For the abridged French version of the annual results company annoucement please click here

Compagnie Financière Richemont SA announces the retirement of Mr Bernard Fornas from his current role as Co-Chief Executive Officer with effect from 31 March 2016. He will also retire from Richemont’s Senior Executive Committee and the Group Management Committee.

From 1 April, Mr Fornas will continue to serve on the Board of Directors as a Non-Executive Director and will serve on its Nominations Committee. He will stand for re-election by the shareholders at the next Annual General Meeting (‘AGM’).

Mr Fornas has served as Co-Chief Executive Officer, alongside Mr Richard Lepeu, since April 2013 and as a member of the Board since September 2013. He joined Cartier in 1994 and, over the following 22 years, has made an outstanding contribution to the profitable growth of that Maison and to the Group in general. The Board looks forward to his contribution in the years ahead.

Mr Johann Rupert, Chairman of Richemont, said:

Richemont also announces that Mr Cyrille Vigneron, Chief Executive Officer of Cartier, will become a member of the Senior Executive Committee with effect from 1 April 2016. He will continue to be a member of the Group Management Committee. As previously announced, Mr Vigneron will stand for election to the Board of Directors at the next AGM.

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About Richemont

Richemont owns a portfolio of leading international brands or ‘Maisons’ which are managed independently of one another, recognising their individuality and uniqueness. The businesses operate in four areas: Jewellery Maisons, being Cartier, Van Cleef & Arpels and Giampiero Bodino; Specialist watchmakers, being A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Officine Panerai, Piaget, Roger Dubuis and Vacheron Constantin, as well as the Ralph Lauren Watch and Jewelry joint venture and Other, being Alfred Dunhill, Chloé, Lancel, Montblanc as well as other smaller Maisons and watch component manufacturing activities for third parties. In addition, Richemont holds a 50% equity-accounted interest in the YOOX Net-A-Porter Group, a publicly traded company.

Richemont ‘A’ shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

Enquiries

Sophie Cagnard
Head of Investor Relations

Tel: +33 1 58 18 25 97

Email: investor.relations@cfrinfo.net, pressoffice@cfrinfo.net

Compagnie Financière Richemont SA announces that Mr Alain Dominique Perrin will not be standing for re-election at the next Annual General Meeting (‘AGM’), to be held on 14 September 2016. He will continue to serve as a member of the Board of Directors and of its Nominations Committee until that date. Thereafter, to ensure that Richemont and its Maisons can continue to benefit from his wide experience, he will serve as a consultant. The 2016 annual report will contain further information regarding this change.

Richemont also announces the nomination of Mr Jeff Moss for election to the Board of Directors. His appointment is subject to the approval of the shareholders at the next AGM. Mr Moss will serve as a Non-Executive Director and become a member of the Board’s Nominations and Strategic Security Committees.

Mr Moss is a computer security and internet security expert. He currently serves as: a member of the U.S. Department of Homeland Security Advisory Council; a member of the Council on Foreign Relations; a Nonresident Senior Fellow at the Atlantic Council; and a member of the Georgetown University School of Law Cybersecurity Advisory Committee. Previously Mr Moss has served as: Chief Security Officer of the Internet Corporation for Assigned Names and Numbers (‘ICANN’); and a director at Secure Computing Corporation. He is the founder of the Black Hat Briefings and DEF CON. He is a graduate of Gonzaga University, U.S.A.

Details regarding the Board of Directors may be found on the Group’s website at: http://www.richemont.com/about-richemont/corporate-governance/board-of-cfr-sa.html

__________________________________________

About Richemont

Richemont owns a portfolio of leading international brands or ‘Maisons’ which are managed independently of one another, recognising their individuality and uniqueness. The businesses operate in four areas: Jewellery Maisons, being Cartier, Van Cleef & Arpels and Giampiero Bodino; Specialist watchmakers, being A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Officine Panerai, Piaget, Roger Dubuis and Vacheron Constantin, as well as the Ralph Lauren Watch and Jewelry joint venture and Other, being Alfred Dunhill, Chloé, Lancel, Montblanc as well as other smaller Maisons and watch component manufacturing activities for third parties. In addition, Richemont holds a 50% equity-accounted interest in the YOOX Net-A-Porter Group, a publicly traded company.

Richemont ‘A’ shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

Enquiries

Sophie Cagnard
Head of Investor Relations

Download

Richemont is pleased to announce the publication of its interim report and accounts for the six months ended 30 September 2015. The report may be downloaded from the Richemont website at https://www.richemont.com/investor-relations/reports.html

The interim report reflects the information contained in the Richemont results announcement issued on 6 November 2015 as well as the unaudited condensed interim consolidated financial statements posted on the Group’s website the same day.

In accordance with stock exchange regulations in Switzerland and South Africa, Richemont no longer prints its interim report.

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Richemont 'A' shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

For the English version of the consolidated results for the six months period ended 30 September 2015 company announcement please click here

For the abridged French version of the consolidated results for the six months period ended 30 September 2015 company announcement please click here

Richemont announces that Mr Stanislas de Quercize, the Chief Executive Officer of Cartier, has requested that he be allowed to step down from his current position and from the Group Management Committee for personal reasons. This change is effective immediately. Mr de Quercize will remain as a Group executive, taking over the role of Chairman of Richemont France.

Succeeding Mr de Quercize as Chief Executive Officer of Cartier will be Mr Cyrille Vigneron, currently the President of LVMH Japan. Prior to joining the LVMH Group, Mr. Vigneron worked with Richemont from 1988 to 2013. He worked principally with Cartier, rising to become Managing Director of Cartier Japan, President of Richemont Japan, and finally, Managing Director of Cartier Europe.

LVMH and Richemont have agreed that Mr Vigneron will formally assume his new position on 1 January 2016.

In his capacity as Chief Executive Officer of Cartier, Mr Vigneron will become a member of the Group Management Committee from 1 January 2016. Thereafter, he will be nominated for election to Compagnie Financière Richemont’s Board of Directors in September 2016.

Johann Rupert, Chairman of Richemont, said:

Further details regarding the Richemont Group Management Committee may be found on the Group’s website at: https://www.richemont.com/group/corporate-governance/senior-executive-committee.html

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Richemont ‘A’ shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

Richemont announces that the merger of its subsidiary, The Net-A-Porter Group, with YOOX S.p.A. (‘YOOX’ or ‘YOOX Group’) has been completed.

As a consequence of the all-share transaction, Richemont has received 65’599’597 shares in the enlarged YOOX Net-A-Porter Group. Those shares represent in aggregate, on a fully diluted basis, 50 % of the share capital of the combined entity’s listed parent company. In order to preserve the independence of YOOX Net-A-Porter Group, Richemont’s voting rights are limited to 25 %. Two representatives from Richemont will serve on the Board of the combined entity’s listed parent company. Richemont will equity account its investment in YOOX Net-A-Porter Group.

Richemont has committed to a lock-up period of three years in respect of shares equivalent to 25 % of the total share capital of the combined entity.

The all-share transaction will generate a significant one-off, non-cash, accounting gain in Richemont’s financial statements for the full-year ending 31 March 2016. The gain will be reported within ‘Profit from discontinued operations’. No gain will be recorded in the interim results for the period ended 30 September 2015. Based on the 2 October closing YOOX share price of € 28.06, the amount of the pre- and post-tax accounting gain is estimated to be between € 610 million and € 670 million.

Richemont is currently in a silent period and will be available for comments regarding this transaction after the announcement of its interim results on 6 November 2015.

About Richemont

Richemont owns a portfolio of leading international brands or ‘Maisons’ which are managed independently of one another, recognising their individuality and uniqueness. The businesses operate in three areas: Jewellery Maisons, being Cartier, Van Cleef & Arpels and Giampiero Bodino; Specialist watchmakers, being A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Officine Panerai, Piaget, Roger Dubuis and Vacheron Constantin, as well as the Ralph Lauren Watch and Jewelry joint venture; and Other, being Alfred Dunhill, Chloé, Lancel, Montblanc, Peter Millar as well as other smaller Maisons and watch component manufacturing activities for third parties. Richemont also holds an investment in YOOX Net-A-Porter Group.

For its financial year ended 31 March 2015, Richemont’s net profit amounted to € 1 334 million.

Richemont ‘A’ shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

About YOOX Net-A-Porter Group

YOOX Net-A-Porter Group S.p.A. is incorporated in Italy and is listed on Borsa Italiana, the Italian stock exchange. Further details regarding YOOX Net-A-Porter Group may be found at: www.yooxgroup.com

Ahead of its Annual General Meeting to be held today in Geneva, Richemont announces that its sales for the five months ended 31 August 2015 increased by 4 % at constant exchange rates. At actual exchange rates, sales rose by 16 %, positively impacted by the weakening of the euro against the US dollar and related currencies, as well as the strong performance of the Maisons’ boutiques. The Cartier and Van Cleef & Arpels Maisons performed exceptionally well in a volatile environment.

Following the agreement to merge the Net-A-Porter Group with YOOX S.p.A announced on 31 March 2015, the figures in the table above exclude The Net-A-Porter Group’s sales in both periods. That transaction is expected to be completed in October 2015.
The following comments refer to changes at constant exchange rates.

Sales performance was mixed, with double-digit increases in Europe and Japan offsetting decreases in Asia Pacific and soft demand in Americas and the Middle East.

European sales benefitted from good tourist numbers, helped by the weakness of the euro versus the US dollar and other currencies. In the Asia Pacific region, sales in Hong Kong and Macau were significantly lower. Mainland China resumed growth with retail sales growing at a strong double-digit rate, overcoming lower wholesale demand; other markets in the region saw positive developments. Sales growth in the Americas was subdued, supported by High Jewellery, Fashion & Accessories and e-commerce. Japan enjoyed strong momentum, both from local and tourist demand, helped by a weak Yen.

Retail was strong overall, with many Maisons reporting double-digit growth supported by strong jewellery, High Jewellery, and Leather sales. Of particular note was the high growth in sales through the Maisons’ own boutiques in Europe and Japan. The marked decrease in wholesale sales reflected the negative trend in the Asia Pacific region, where the environment continues to be extremely challenging.

By business area, the performance reflected the comments above for sales by region and channel. In their own boutiques, the Jewellery Maisons also reported growth in watch sales.The Specialist Watchmakers suffered from weak demand in the Asia Pacific region, offsetting good momentum elsewhere. Richemont’s other businesses reported good growth overall, with the negative impact on sales from ongoing reorganisations at Alfred Dunhill and Lancel being more than counterbalanced by the positive performances at Montblanc, Chloé and Peter Millar.

Richemont’s interim results for the six-month period to 30 September 2015 will be released on 6 November 2015.

Disclaimer

The foregoing financial information is unaudited.

Press enquiries

Alan Grieve
Director of Corporate Affairs
Tel: +41 22 721 3507
E-mail: pressoffice@cfrinfo.net 

Analysts' enquiries

Sophie Cagnard
Head of Investor Relations
Tel: +33 1 58 18 25 97
E-mail: investor.relations@cfrinfo.net

About Richemont

Richemont owns a portfolio of leading international brands or ‘Maisons’ which are managed independently of one another, recognising their individuality and uniqueness. The businesses operate in three areas: Jewellery Maisons, being Cartier, Van Cleef & Arpels and Giampiero Bodino; Specialist watchmakers, being A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Officine Panerai, Piaget, Roger Dubuis and Vacheron Constantin, as well as the Ralph Lauren Watch and Jewelry joint venture; and Other, being Alfred Dunhill, Chloé, Lancel, Montblanc and Peter Millar as well as other smaller Maisons and watch component manufacturing activities for third parties.

For its financial year ended 31 March 2015, Richemont reported sales of € 10 410 million. Operating profit for that year amounted to € 2 670 million and net profit amounted to € 1 334 million.

Richemont ‘A’ shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

At the Annual General Meeting of Compagnie Financière Richemont SA held today in Geneva, the shareholders approved the results for the year, including the proposals of the board of directors for the appropriation of retained earnings at 31 March 2015.

A dividend of CHF 1.600 per share will be paid on the listed 'A' registered shares and a dividend of CHF 0.160 per share will be paid on the unlisted 'B' registered shares of the Company. The dividend in respect of the ‘A’ shares will be payable on 22 September 2015, free of charges but subject to Swiss withholding tax at the rate of 35 %. The remaining available retained earnings of the Company, after payment of the dividend, are to be carried forward to the next business year.

All other matters on the agenda were also approved by the shareholders by an overwhelming majority.

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Richemont ‘A’ shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

Richemont is pleased to announce the publication of its annual report and accounts for the year ended 31 March 2015. The report may be downloaded from the Richemont website at http://www.richemont.com/investor-relations/reports.html

Regarding the year under review, the report reflects the information contained in the Richemont results announcement, which was issued on 22 May 2015, as well as the audited consolidated financial statements which were posted on the Group’s website the same day. The report also contains the audited Company financial statements and Compensation Report.

The report will be mailed to all holders of Richemont shares and South African depositary receipts and to other parties who have requested it on 26 June 2015. Only the printed report is definitive. The report may be obtained from the Company’s registered office at the address below or by contacting the Company via the website at http://www.richemont.com/about-richemont/contact.html

In South Africa, the report may be obtained directly from the Depository Agent at the following address: Computershare Investor Services (Proprietary) Limited, 70 Marshall Street, Johannesburg 2001, (PO Box 61051, Marshalltown 2107).

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Richemont “A” shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

For the English version of the annual results company announcement please click here

For the abridged French version of the annual results company annoucement please click here

SIX Swiss Exchange requires that issuers make an announcement without delay where the foreseeable profit or loss for a given period is expected to deviate significantly from the profit or loss achieved in the prior year. Both significant falls and increases in the anticipated, unaudited profit or loss require the publication of an ad-hoc notice to the market. In accordance with these requirements, Richemont makes the following announcement:

Significant movement in net profit

Compared to the previous financial year, Richemont’s net profit for the year ended 31 March 2015 is expected to show a decrease of some 36 %. This significant decrease reflects non-cash, mark-to-market losses on financial instruments, which include monetary items and derivatives. The majority of such non-cash losses are not subject to tax. Accordingly, the Group’s effective tax rate for the year is expected to significantly increase.

Non-cash, mark-to-market losses had no material impact on the Group’s net cash position, which amounted to some € 5.4 billion at 31 March 2015.

Other matters

Richemont takes the opportunity of a mandatory ad-hoc notice to publish other information relating to its current financial year-end.

1. Discontinued operation and re-presented financial statements

Following the announcement made on 31 March 2015, Richemont’s current interest in The Net-A-Porter Group will be classified as ‘held for sale’ at the current year-end. The results of that business will be reported as a ‘discontinued operation’ in the Group’s consolidated statement of comprehensive income for the two years ended 31 March 2015 and 2014. As a consequence, previously reported Richemont sales and operating profit will be re-presented, excluding the results of The Net-A-Porter Group.

2. Trading update and expected operating profit

Including The Net-A-Porter Group’s results, Richemont’s sales for the year ended 31 March 2015 would have increased by 5 % on a reported basis and by 2 % on a constant currency basis compared to the previous financial year.

On a re-presented basis, excluding the results of the discontinued operation, Richemont’s sales in the year ended 31 March 2015 increased by 4 % on a reported basis and by 1 % on a constant currency basis. Richemont’s operating profit for the year ended 31 March 2015 is expected to show an increase of 10 %, including the previously disclosed gain on an investment property disposal. The re-presentation has no material impact on the Group’s operating profit or net profit in the 2015 and 2014 financial years, nor on the Group’s net cash position at 31 March 2015.

3. Corporate calendar

The Group’s results for the year ended 31 March 2015 will be announced in detail on 22 May 2015.

About Richemont

Richemont ‘A’ shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

Cautionary statement regarding forward-looking statements

This document contains forward-looking statements as that term is defined in the United States Private Securities Litigation Reform Act of 1995. Words such as ‘may’, ‘should’, ‘estimate’, ‘project’, ‘plan’, ‘believe’, ‘expect’, ‘anticipate’, ‘intend’, ‘potential’, ‘goal’, ‘strategy’, ‘target’, ‘will’, ‘seek’ and similar expressions may identify forward-looking statements. Such forward-looking statements are not guarantees of future performance. Actual results may differ materially from the forward-looking statements as a result of a number of risks and uncertainties, many of which are outside the Group’s control.

Richemont announces that it has entered into a binding, conditional agreement to merge the operations of its subsidiary, The Net-A-Porter Group, with YOOX S.p.A. (“YOOX” or “YOOX Group”) in an all-share transaction. YOOX Group is the global Internet retailing partner for leading fashion brands, which has established itself amongst the market leaders with the multi-brand online stores yoox.com, thecorner.com and shoescribe.com, as well as with numerous mono-brand online stores. YOOX S.p.A. is incorporated in Italy and is listed on Borsa Italiana, the Italian stock exchange. Information on YOOX Group can be found at www.yooxgroup.com

The agreement is conditional upon the approval of YOOX shareholders at a meeting which it is expected to be held in June 2015. Upon completion of the transaction, the combined entity will be renamed ‘YOOX Net-A-Porter Group’, will continue to be incorporated in Italy and listed on Borsa Italiana. Ms Natalie Massenet, Founder and Executive Chairman of The Net-A-Porter Group, will serve as Executive Chairman and Mr Federico Marchetti, Founder and CEO of YOOX Group, will be CEO of the combined entity.

Richemont will receive, in aggregate, on a fully diluted basis 50 % of the share capital of the combined entity’s listed parent company. In order to preserve the independence of YOOX Net-A-Porter Group, Richemont’s voting rights will be limited to 25%. Richemont has committed to a lock-up period of three years in respect of shares equivalent to 25% of the total share capital of the combined entity. Upon completion, Richemont will appoint two representatives to the combined company’s board of directors, which will have a minimum of twelve members. Following completion, YOOX Net-A-Porter Group is expected to launch a capital increase of up to € 200 million to fund future growth opportunities and allow for the entry of strategic investors. Richemont is expected to participate in this capital increase.

Johann Rupert, Chairman of Richemont said:

The transaction is expected to complete in September 2015 after shareholder and regulatory approval. Thereafter, Richemont will equity account its investment in the enlarged YOOX Net-A-Porter Group. This transaction will generate a one-off, non-cash, accounting gain in Richemont’s financial statements for the year ending 31 March 2016 of approximately € 317 million (at both the pre- and post- tax levels), based on currently available information. Excluding the one-off, non-cash accounting gain, the transaction is otherwise expected to be broadly earnings neutral in terms of Richemont’s net income for the financial year ending 31 March 2016, based on currently available information.

About Richemont

Richemont owns a portfolio of leading international brands or ‘Maisons’ which are managed independently of one another, recognising their individuality and uniqueness. The businesses operate in four areas: Jewellery Maisons, being Cartier and Van Cleef & Arpels; Specialist watchmakers, being A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Officine Panerai, Piaget, Roger Dubuis and Vacheron Constantin, as well as the Ralph Lauren Watch and Jewelry joint venture; and Other, being Montblanc, Alfred Dunhill, Chloé, Lancel and Net-A-Porter as well as other smaller Maisons and watch component manufacturing activities for third parties.

Richemont ‘A’ shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

About YOOX Group

YOOX Group is the global Internet retailing partner for leading fashion & design brands. It has established itself amongst the market leaders with the multi-brand online stores yoox.com, thecorner.com and shoescribe.com, as well as with numerous mono-brand online stores, all of which are "Powered by YOOX Group." The Group is also a partner of Kering, with which it has created a joint venture dedicated to the management of the mono-brand online stores of several of the Kering Group's luxury brands. The Group has offices and operations in Europe, the United States, Japan, China and Hong Kong and delivers to more than 100 countries worldwide. Listed on the Milan stock exchange, the Group posted consolidated net revenues of € 524 million in 2014. For further information: www.yooxgroup.com

With reference to what has appeared in the press, Compagnie Financière Richemont SA clarifies that discussions are currently underway with YOOX S.p.A. regarding a potential business combination between YOOX S.p.A. and The Net-A-Porter Group Ltd.

The Company will update the market as appropriate in due course and cannot comment further at this stage.

Cautionary statement regarding forward-looking statements

This document contains forward-looking statements as that term is defined in the United States Private Securities Litigation Reform Act of 1995. Words such as ‘may’, ‘should’, ‘estimate’, ‘project’, ‘plan’, ‘believe’, ‘expect’, ‘anticipate’, ‘intend’, ‘potential’, ‘goal’, ‘strategy’, ‘target’, ‘will’, ‘seek’ and similar expressions may identify forward-looking statements. Such forward-looking statements are not guarantees of future performance. Actual results may differ materially from the forward-looking statements as a result of a number of risks and uncertainties, many of which are outside the Group’s control.

About Richemont

Richemont owns a portfolio of leading international brands or ‘Maisons’ which are managed independently of one another, recognising their individuality and uniqueness. The businesses operate in four areas: Jewellery Maisons, being Cartier and Van Cleef & Arpels; Specialist watchmakers, being A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Officine Panerai, Piaget, Roger Dubuis and Vacheron Constantin, as well as the Ralph Lauren Watch and Jewelry joint venture and Other, being Alfred Dunhill, Chloé, Lancel, Montblanc and Net-A-Porter as well as other smaller Maisons and watch component manufacturing activities for third parties.

Richemont ‘A’ shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

Compagnie Financière Richemont SA announces that Dr Frederick Mostert will resign from the Board of Directors and the Group Management Committee with effect from 31 December 2014.

Dr Mostert joined the Group in 1990 and was appointed to its Group Management Committee in 1994. He has served as a member of the Board of Directors since 2010. Dr Mostert, Chief Legal Counsel, will continue to serve the Company as an employee until retirement in 2015.

Thereafter, he will continue to serve the Group as a consultant in intellectual property matters.

The Board of Directors would like to thank Dr Mostert for his contributions to the Group since 1990.

Mr Johann Rupert, Chairman of the Board, said

Further details regarding the Board of Directors may be found on the Group’s website at: http://www.richemont.com/about-richemont/corporate-governance/board-of-cfr-sa.html

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About Richemont
Richemont owns a portfolio of leading international brands or ‘Maisons’ which are managed independently of one another, recognising their individuality and uniqueness. The businesses operate in three areas: Jewellery Maisons, being Cartier and Van Cleef & Arpels; Specialist watchmakers, being A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Officine Panerai, Piaget, Roger Dubuis and Vacheron Constantin, as well as the Ralph Lauren Watch and Jewelry joint venture; and Other, being Alfred Dunhill, Chloé, Lancel, Montblanc and Net-a-Porter as well as other smaller Maisons and watch component manufacturing activities for third parties.

Richemont ‘A’ shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

Richemont is pleased to announce the publication of its interim report and accounts for the six months ended 30 September 2014. The report may be downloaded from the Richemont website at https://www.richemont.com/investor-relations/reports.html

The interim report reflects the information contained in the Richemont results announcement issued on 7 November 2014 as well as the unaudited condensed interim consolidated financial statements posted on the Group’s website the same day.

Copies of the printed interim report will be mailed in due course to all holders of Richemont shares and South African depositary receipts and to other parties who have requested them.

In Switzerland, the report may be obtained from the Company’s registered office at the address below or by contacting the Company via the website at https://www.richemont.com/index.php?option=com_requestreport

In South Africa, the report may be obtained directly from the Depository Agent at the following address: Computershare Investor Services (Proprietary) Limited, 70 Marshall Street, Johannesburg 2001 (PO Box 61051, Marshalltown 2017) or by contacting Computershare at ecomms@computershare.co.za

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Richemont 'A' shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

For the English version of the consolidated results for the six months period ended 30 September 2014 company announcement please click here

For the abridged French version of the consolidated results for the six months period ended 30 September 2014 company announcement please click here

Ahead of its Annual General Meeting to be held today in Geneva, Richemont announces that its sales for the five months ended 31 August 2014 increased by 4% at constant exchange rates. At actual exchange rates, sales rose by 1%, negatively impacted by the weakening of the US dollar and the yen against the euro during the period.

The following comments refer to changes at constant exchange rates.
Sales growth was subdued overall, with double-digit increases in the Middle East and Americas largely offset by low growth in Europe and decreases in Asia-Pacific and Japan.

European and Middle-Eastern sales continued to benefit from tourism. In the Asia-Pacific region, sales were lower in Hong Kong, Macau and mainland China, offsetting positive developments in other markets. In mainland China, retail sales grew while the rate of decline in wholesale sales softened. Sales growth in the Americas remained strong. In Japan, prudent consumer sentiment and a surge in purchases in March 2014 ahead of a sales tax increase combined to dampen sales in the April to August period, as expected.

Retail sales growth continued to outperform wholesale sales, albeit at a lower level than a year ago. Of particular note were the retail performances at Van Cleef & Arpels and at Net-A-Porter.

By business area, the performance reflected the comments above for sales by region and channel. Cartier jewellery continued to outperform watch sales, which have suffered from weak demand and destocking, particularly in Asia-Pacific. As announced last May, the Montblanc Maison, which was previously considered a separate reporting segment, is now aggregated and disclosed in Other. The prior year comparatives have been restated to reflect this change.

Richemont’s interim results for the six-month period to 30 September 2014 will be released on 7 November 2014.

Disclaimer

The foregoing financial information is unaudited.

About Richemont

Richemont owns a portfolio of leading international brands or ‘Maisons’ which are managed independently of one another, recognising their individuality and uniqueness. The businesses operate in three areas: Jewellery Maisons, being Cartier and Van Cleef & Arpels; Specialist watchmakers, being A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Officine Panerai, Piaget, Roger Dubuis and Vacheron Constantin, as well as the Ralph Lauren Watch and Jewelry joint venture; Montblanc Maison; and Other, being Alfred Dunhill, Chloé, Lancel and Net-a-Porter as well as other smaller Maisons and watch component manufacturing activities for third parties.

For its financial year ended 31 March 2014, Richemont reported sales of € 10 649 million. Operating profit for that year amounted to € 2 419 million.

Richemont ‘A’ shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

At the Annual General Meeting of Compagnie Financière Richemont SA held today in Geneva, the shareholders approved the results for the year, including the proposals of the board of directors for the appropriation of retained earnings at 31 March 2014.

A dividend of CHF 1.400 per share will be paid on the listed 'A' registered shares and a dividend of CHF 0.140 per share will be paid on the unlisted 'B' registered shares of the Company. The dividend in respect of the ‘A’ shares will be payable on 24 September 2014 against presentation of coupon number 17, free of charges but subject to Swiss withholding tax at 35 %. The remaining available retained earnings of the Company, after payment of the dividend, are to be carried forward to the next business year.

All other matters on the agenda were also approved by the shareholders by an overwhelming majority.

During the meeting, the outgoing Chairman, Mr Yves-Andre Istel, welcomed the shareholders’ appointment of Mr Johann Rupert as Chairman of the Board. In light of the pending change of Chairman, during a meeting held the previous day the Board had appointed both Mr Istel and Mr Malherbe to serve as Deputy Chairmen.

Also during the meeting, the shareholders warmly thanked Dr Cologni, who was not standing for re-election, for his 45-years of service to Richemont and its predecessors.

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Richemont ‘A’ shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

Richemont is pleased to announce the publication of its annual report and accounts for the year ended 31 March 2014. The report may be downloaded from the Richemont website at http://www.richemont.com/investor-relations/reports.html

Regarding the year under review, the annual report reflects the information contained in the Richemont results announcement, which was issued on 15 May 2014, as well as the audited Group and Company financial statements which were posted on the Group’s website the same day.

The report will be mailed to all holders of Richemont shares and South African depositary receipts and to other parties who have requested them on 20 June 2014. Only the printed report is definitive. The report may be obtained from the Company’s registered office at the address below or by contacting the Company via the website at http://www.richemont.com/about-richemont/contact.html

In South Africa, the report may be obtained directly from the Depository Agent at the following address: Computershare Investor Services (Proprietary) Limited, 70 Marshall Street, Johannesburg 2001, (PO Box 61051, Marshalltown 2107).

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Richemont “A” shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

For the English version of the annual results company announcement please click here

For the abridged French version of the annual results company annoucement please click here

Richemont’s two-year share buy-back programme announced on 16 May 2012 ended today. Under the programme, the Company repurchased a total of 6 980 620 ‘A’ shares, representing 1.2 % of the capital and 0.7 % of the voting rights of Compagnie Financière Richemont SA. Richemont’s share purchase history can be found on the Company’s website at:
http://www.richemont.com/investor-relations/share-buy-back-information.html

In addition, Richemont announces a new programme to buy-back up to 10 million Richemont ‘A’ shares through the market over the next three years, representing 1.7 % of the capital and 1.0 % of the voting rights of Compagnie Financière Richemont SA.

Purchases may be effected through ‘A’ share purchases on SIX Swiss Exchange at prevailing market prices. The ‘A’ shares acquired will not be cancelled and no second trading line will be introduced as a consequence of the buy-back programme. The ‘A’ shares to be acquired will be held in treasury to hedge awards to executives under the Group’s stock option plan.

Richemont currently holds 11.3 million ‘A’ shares, representing 2.0 % of the capital and 1.1 % of the voting rights of the Company, in treasury as a consequence of previous buy-back programmes, which have also been linked to the Group’s stock option plan.

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Richemont “A” shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

Richemont and EPFL announce the creation of an academic chair in “Multi-scale Manufacturing Technologies.” The future professor will work at EPFL’s Neuchâtel Microcity Campus, home to its Institute of Microengineering.

The continuous optimisation of manufacturing processes for mechanical components is one of the key success factors of the Swiss watchmaking industry. While traditional machining and stamping processes will continue to play an important role, emerging technologies such as laser machining, 3D printing and plasma etching are pushing the current limits to new heights of quality and performance. In order to capture this outstanding potential, Richemont and EPFL are creating an academic chair in “Multi-scale Manufacturing Technologies”. Richemont, a key Swiss player in the watchmaking and jewellery industry, will sponsor the activities of the future professor in EPFL’s Institute of Microengineering. The recruitment process has already started.

Microengineering, and the watchmaking sector in particular, are essential components of the industrial landscape in Western Switzerland. EPFL’s stake in the Microcity Campus in Neuchâtel is a clear sign of its ambition to support innovation and academic research in this field. Richemont, with its prestigious Maisons, which include Cartier, Van Cleef & Arpels, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Officine Panerai, Piaget, Roger Dubuis, Vacheron Constantin and Montblanc, is a leading employer with 10,000 employees in Switzerland and a total of 30,000 around the world. This new step is a self-evident continuation of the collaboration between the two institutions.

“The creation of this new chair with Richemont is totally in line with our overall strategy for the region,” explains EPFL's President, Patrick Aebischer. “This collaboration will allow us to develop new technologies and stimulate innovation for a key economic sector in Neuchâtel.”

Multi-scale manufacturing combines disruptive technologies to produce high quality parts on any scale and at any level of precision. The integration of these new technologies in production will reinforce Switzerland’s leadership position in high-precision industries and high-end watchmaking. In particular, it will improve the performance and quality of watches, allowing for the use of new materials and enabling the fabrication of the most complex components.

“We are faced with a demanding and sophisticated client base, increasing competition and continuous technological progress. Innovation is a necessity for a major global company like Richemont,” says Co-CEO of Richemont, Richard Lepeu. “These new technologies open a wide range of technical possibilities to respond to future industrial requirements.”

By investing in this high-potential sector, Richemont and EPFL confirm their determination to play a leading role in innovation. The future professor, who will start at the Institute of Microengineering in 2015, will create an integrated platform of the very latest manufacturing technologies for the benefit of the high precision industry.

About Richemont

Richemont owns a portfolio of leading international brands or ‘Maisons’ which are managed independently of one another, recognising their individuality and uniqueness. The businesses operate in four areas: Jewellery Maisons, being Cartier and Van Cleef & Arpels; Specialist watchmakers, being A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Officine Panerai, Piaget, Roger Dubuis and Vacheron Constantin, as well as the Ralph Lauren Watch and Jewelry joint venture; Montblanc Maison; and Other, being Alfred Dunhill, Chloé, Lancel and Net-a-Porter as well as other smaller Maisons and watch component manufacturing activities for third parties.

Richemont ‘A’ shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

About Ecole polytechnique fédérale de Lausanne (EPFL)

EPFL is Europe’s most cosmopolitan technical university. It receives students, professors and staff from over 120 nationalities. With both a Swiss and international calling, it is therefore guided by a constant wish to open up; its missions of teaching, research and partnership impact various circles: universities and engineering schools, developing and emerging countries, secondary schools and gymnasiums, industry and economy, political circles and the general public.

Compagnie Financière Richemont SA announces that Dr Franco Cologni has informed us that he does not wish to stand for re-election to the Board of Directors at the Company’s next Annual General Meeting (‘AGM’), to be held on 17 September 2014.

In advance of that date, the Board of Directors would like to thank Dr Cologni for his immeasurable contributions to the Group and its predecessor companies since 1969, when he joined Cartier. Following the AGM, Dr Cologni will continue to serve the Group as a consultant and will continue to support the Maisons in a range of creativity- and craftsmanship-related matters.

Mr Yves-André Istel, Chairman of the Board, said

Further details regarding the Board of Directors may be found on the Group’s website at: http://www.richemont.com/about-richemont/corporate-governance/board-of-cfr-sa.html

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About Richemont
Richemont owns a portfolio of leading international brands or ‘Maisons’, which are managed independently of one another, recognising their individuality and uniqueness. The businesses operate in four areas: Jewellery Maisons, being Cartier and Van Cleef & Arpels; Specialist watchmakers, being Jaeger-LeCoultre, Piaget, IWC, Baume & Mercier, Vacheron Constantin, Officine Panerai, A. Lange & Söhne and Roger Dubuis, as well as the Ralph Lauren Watch and Jewelry joint venture; the Montblanc Maison; and Other, being Alfred Dunhill, Chloé, Lancel and Net-a-Porter as well as other smaller Maisons and watch component manufacturing activities for third parties.

Richemont 'A' shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

Richemont announces the following changes to its Group Management Committee.

Mr Albert Kaufmann, General Counsel, will retire from Richemont’s operational business and from the Group Management Committee on 31 March 2014.

On behalf of the Group, Richemont’s Board of Directors would like to thank Mr Kaufmann for his immense contribution since 1974. During his 40-year tenure, which began at Cartier, Mr Kaufmann led the development of the legal department and affairs for Richemont’s luxury goods businesses.

Richemont’s Board of Directors also announces two appointments to the Group Management Committee, effective from 1 April 2014: Mr Nicolas Bos, Chief Executive Officer of Van Cleef & Arpels; and Mr Daniel Riedo, Chief Executive Officer of Jaeger-LeCoultre.

Further details regarding the Group Management Committee may be found on the Group’s website at: http://www.richemont.com/about-richemont/corporate-governance/group-management-committee.html

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About Richemont

Richemont owns a portfolio of leading international brands or ‘Maisons’, which are managed independently of one another, recognising their individuality and uniqueness. The businesses operate in four areas: Jewellery Maisons, being Cartier and Van Cleef & Arpels; Specialist watchmakers, being Jaeger-LeCoultre, Piaget, IWC, Baume & Mercier, Vacheron Constantin, Officine Panerai, A. Lange & Söhne and Roger Dubuis, as well as the Ralph Lauren Watch and Jewelry joint venture; the Montblanc Maison; and Other, being Alfred Dunhill, Chloé, Lancel and Net-a-Porter as well as other smaller Maisons and watch component manufacturing activities for third parties.

Richemont 'A' shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

Richemont is pleased to announce the publication of its interim report and accounts for the six months ended 30 September 2013. The report may be downloaded from the Richemont website at http://www.richemont.com/investor-relations/reports.html

The interim report reflects the information contained in the Richemont results announcement, which was issued on 8 November 2013, as well as the unaudited condensed interim consolidated financial statements, which were posted on the Group’s website the same day. Only the printed interim report is definitive.

Copies of the printed interim report will be mailed on 26 November 2013 to all holders of Richemont shares and South African depositary receipts and to other parties who have requested them.

In Switzerland, the report may be obtained from the Company’s registered office at the address below or by contacting the Company via the website at http://www.richemont.com/index.php?option=com_requestreport

In South Africa, the report may be obtained directly from the Depository Agent at the following address: Computershare Investor Services (Proprietary) Limited, 70 Marshall Street, Johannesburg 2001 (PO Box 61051, Marshalltown 2017) or by contacting Computershare at ecomms@computershare.co.za

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Richemont 'A' shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

For the English version of the consolidated results for the six months period ended 30 September 2013 company announcement please click here

For the abridged French version of the consolidated results for the six months period ended 30 September 2013 company announcement please click here

Richemont has a long-standing policy of not commenting on market rumours. Exceptionally in this case, Richemont wishes to make it clear that The Net-A-Porter Group is not for sale.

Richemont advises that it has no further comment.

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About Richemont

Richemont owns a portfolio of leading international brands or ‘Maisons’, which are managed independently of one another, recognising their individuality and uniqueness. The businesses operate in four areas: Jewellery Maisons, being Cartier and Van Cleef & Arpels; Specialist watchmakers, being Jaeger-LeCoultre, Piaget, IWC, Baume & Mercier, Vacheron Constantin, Officine Panerai, A. Lange & Söhne and Roger Dubuis, as well as the Ralph Lauren Watch and Jewelry joint venture; the Montblanc Maison; and Other, being Alfred Dunhill, Chloé, Lancel and Net-a-Porter as well as other smaller Maisons and watch component manufacturing activities for third parties.

Richemont ‘A’ shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

Ahead of its Annual General Meeting to be held today in Geneva, Richemont announces that its sales for the five months ended 31 August 2013 increased by 9 % at constant exchange rates. At actual exchange rates, sales rose by 4 %, negatively impacted by the weakening of the US dollar and the yen against the euro.

The following comments refer to changes at constant exchange rates.
Sales growth was satisfactory across all regions in view of demanding comparatives in Europe, the Middle-East and Asia-Pacific. European and Middle-Eastern sales continued to benefit from visitors in major tourist destinations. Asia-Pacific was led by good growth in Hong Kong and Macau, offset by lower sales in mainland China, largely reflecting a prudent consumer sentiment after several years of exceptional expansion. Sales growth in the Americas was strong, primarily achieved through the sustained momentum of jewellery sales. The acquisition of Peter Millar in October 2012 also assisted the performance in the Americas. Sales growth in Japan was robust, benefiting from strong domestic consumption.

Retail sales growth continues to outperform wholesale sales, reflecting a good performance in the Maisons’ existing boutiques as well as the opening of new ones, primarily in Europe, Middle-East and Asia-Pacific.

The Jewellery Maisons and Specialist Watchmakers performed well in an uncertain economic environment. Montblanc’s sales were flat, the Maison being less exposed to tourist purchases than many of the Group’s other businesses. Within ‘Other’ sales, Net-a-Porter reported double-digit growth.

Richemont’s interim results for the six-month period to 30 September 2013 will be released on 8 November 2013.

Disclaimer

The foregoing financial information is unaudited.

Press enquiries

Alan Grieve
Director of Corporate Affairs
Tel: +41 22 721 3507
E-mail: pressoffice@cfrinfo.net 

Analysts' enquiries

Sophie Cagnard
Head of Investor Relations
Tel: +33 1 58 18 25 97
E-mail: investor.relations@cfrinfo.net

About Richemont

Richemont owns a portfolio of leading international brands or ‘Maisons’ which are managed independently of one another, recognising their individuality and uniqueness. The businesses operate in four areas: Jewellery Maisons, being Cartier and Van Cleef & Arpels; Specialist watchmakers, being A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Officine Panerai, Piaget, Roger Dubuis and Vacheron Constantin, as well as the Ralph Lauren Watch and Jewelry joint venture; Montblanc Maison; and Other, being Alfred Dunhill, Chloé, Lancel and Net-a-Porter as well as other smaller Maisons and watch component manufacturing activities for third parties.

For its financial year ended 31 March 2013, Richemont reported sales of € 10 150 million. Operating profit for that year amounted to € 2 426 million.

Richemont ‘A’ shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

At the Annual General Meeting of Compagnie Financière Richemont SA held today in Geneva, the shareholders approved the results for the year, including the proposals of the board of directors for the appropriation of retained earnings at 31 March 2013.

A dividend of CHF 1.000 per share will be paid on the listed 'A' bearer shares and a dividend of CHF 0.100 per share will be paid on the unlisted 'B' registered shares of the Company. The dividend in respect of the ‘A’ shares will be payable on 19 September 2013 against presentation of coupon number 16, free of charges but subject to Swiss withholding tax at 35 %. The remaining available retained earnings of the Company, after payment of the dividend, are to be carried forward to the next business year.

At the meeting, the Chairman, Mr Johann Rupert, indicated that in light of his forthcoming sabbatical year, he would not stand for re-election to the Board for the year ahead. Mr Yves-Andre Istel will assume the role of Chairman during Mr Rupert's absence and Mr Josua Malherbe will assume the role of Deputy Chairman.

All other matters on the agenda were approved by the shareholders.

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Richemont ‘A’ shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

Compagnie Financière Richemont SA announces that Maître Dominique Rochat will not be standing for re-election to the Board of Directors at the Company’s next Annual General Meeting (‘AGM’) for health reasons. The Board of Directors would like to thank Maître Rochat for his valuable contributions to the Group since his appointment in 2010 and wishes him a return to good health.

Compagnie Financière Richemont SA also announces the nomination of Maître Jean-Blaise Eckert for election to the Board of Directors at the next AGM, to be held on 12 September 2013. His appointment is subject to the approval of the shareholders at that meeting. Maître Eckert will serve as a Non-Executive Director and become a member of the Board’s Audit and Nominations Committees.

Maître Eckert has been a practising lawyer since 1991 and a Partner of Lenz & Staehelin since 1999, advising on national and international corporate, commercial and tax law. He serves on the Board of several Swiss companies, including Ladurée International SA and UL (Underwriters Laboratories) AG, and on the Board of several not-for-profit organisations, including Fondation pour la Musique et la Culture, Genève. He teaches in the Master programmes of the University of Geneva and of Lausanne. Maître Eckert is also a member of a number of Swiss and international professional organisations.

Further details regarding the Board of Directors may be found on the Group’s website at: http://www.richemont.com/about-richemont/corporate-governance/board-of-cfr-sa.html

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About Richemont

Richemont owns a portfolio of leading international brands or ‘Maisons’, which are managed independently of one another, recognising their individuality and uniqueness. The businesses operate in four areas: Jewellery Maisons, being Cartier and Van Cleef & Arpels; Specialist watchmakers, being Jaeger-LeCoultre, Piaget, IWC, Baume & Mercier, Vacheron Constantin, Officine Panerai, A. Lange & Söhne and Roger Dubuis, as well as the Ralph Lauren Watch and Jewelry joint venture; the Montblanc Maison; and Other, being Alfred Dunhill, Chloé, Lancel and Net-a-Porter as well as other smaller Maisons and watch component manufacturing activities for third parties.

Richemont 'A' shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

Richemont is pleased to announce the publication of its annual report and accounts for the year ended 31 March 2013. The report may be downloaded from the Richemont website at http://www.richemont.com/investor-relations/reports.html

Regarding the year under review, the annual report reflects the information contained in the Richemont results announcement, which was issued on 16 May 2013, as well as the audited Group and Company financial statements which were posted on the Group’s website the same day.

The report will be mailed to all holders of Richemont shares and South African depositary receipts and to other parties who have requested them on 19 June 2013. Only the printed report is definitive. The report may be obtained from the Company’s registered office at the address below or by contacting the Company via the website at http://www.richemont.com/about-richemont/contact.html

In South Africa, the report may be obtained directly from the Depository Agent at the following address: Computershare Investor Services (Proprietary) Limited, 70 Marshall Street, Johannesburg 2001, (PO Box 61051, Marshalltown 2107).

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Richemont “A” shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

Compagnie Financière Richemont SA announces the resignation of Marty Wikstrom from her role as Chief Executive Officer of Richemont Fashion and Accessories with immediate effect. She will continue to serve as a Non-Executive Director on the Board of Compagnie Financière Richemont SA until the shareholders meeting to be held on 12 September 2013.

Ms Wikstrom was first appointed to the Board in 2005 and served as a Non-Executive Director until 2009. In 2009, she became an Executive Director upon her appointment as Chief Executive Officer of Richemont Fashion and Accessories. In that role, she has overseen the strategic development of six of Richemont’s Maisons, including Alfred Dunhill, Azzedine Alaїa, Chloé and Lancel. Since 2009, Ms Wikstrom has also served as a member of the Chairman’s Committee and the Group Management Committee. She steps down from those Committees.

The Board of Directors would like to thank Ms Wikstrom for her many contributions to the Group, transitioning the fashion and accessories businesses and positioning them for further prosperous growth.

Further details regarding the Board of Directors may be found on the Group’s website at: http://www.richemont.com/about-richemont/corporate-governance/board-of-cfr-sa.html

About Richemont

Richemont owns a portfolio of leading international brands or ‘Maisons’, which are managed independently of one another, recognising their individuality and uniqueness. The businesses operate in four areas: Jewellery Maisons, being Cartier and Van Cleef & Arpels; Specialist watchmakers, being Jaeger-LeCoultre, Piaget, IWC, Baume & Mercier, Vacheron Constantin, Officine Panerai, A. Lange & Söhne and Roger Dubuis, as well as the Ralph Lauren Watch and Jewelry joint venture; the Montblanc Maison; and Other, being Alfred Dunhill, Chloé, Lancel and Net-a-Porter as well as other smaller Maisons and watch component manufacturing activities for third parties.

Richemont 'A' shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

For the English version of the annual results company announcement please click here

For the abridged French version of the annual results company annoucement please click here

The Board of Directors of Compagnie Financière Richemont SA announces its intention to propose amendments to the Company’s Articles of Incorporation at the annual general meeting to be held on Thursday, 12 September 2013 in Geneva (‘2013 AGM’). The amendment will enable the Company to bring its ‘A’ bearer shares, which are traded on SIX Swiss Exchange, on to a share register. Accordingly, the Richemont ‘A’ bearer shares shall be defined thereafter as Richemont ‘A’ registered shares.

The proposal brings Richemont further into line with other leading Swiss companies, reflecting the move away from bearer shares across Europe. The proposed change also seeks to relieve those bearer shareholders who wish to exercise their right to vote at general meetings of the ‘share blocking’ constraint applicable in the days immediately preceding such meetings. Consequently, trading in the Company’s shares will be facilitated.

The Company’s share capital comprises 522 million ‘A’ bearer shares and 522 million Richemont ‘B’ registered shares. The proposal would see the A’ bearer shares, which are traded on SIX Swiss Exchange, transformed into ‘A’ registered shares. No changes are proposed in respect of the ‘B’ registered shares.

The economic rights attaching to the ‘A’ bearer shares will not be changed. ‘A’ registered shares will enjoy all of the rights currently conferred upon the ‘A’ bearer shares, including dividend and voting rights.

The envisaged transformation of the Company’s bearer shares into registered shares is not expected to involve the publication of a listing prospectus as the transformation will not involve a share capital increase. However, the registered shares will be assigned a new International Security Identification Number (‘ISIN’) and a new Swiss security number (‘Valorennummer’). ‘CFR’, the current ‘ticker’ of the ‘A’ bearer shares, will be preserved.

In addition to the listing of ‘A’ shares on SIX Swiss Exchange, Richemont has a secondary listing of registered South African Depository Receipts (‘DRs’) in Johannesburg on the exchange operated by JSE Limited. DRs trade in the ratio of ten DRs to each Richemont ‘A’ share. Neither the amendment to the Company’s Articles of Incorporation, nor the envisaged transformation of the ‘A’ shares to registered form and the creation of a share register in Switzerland is expected to have any economic impact on the DRs.

The proposed change to the Company’s Articles of Incorporation will be voted upon at the 2013 AGM. In accordance with Swiss company law, a resolution to change the Company’s Articles requires the approval of two thirds of the shares and an absolute majority of the nominal share capital represented at a general meeting of shareholders. Subject to the proposed changes being approved, Richemont’s bearer shares will be replaced by registered shares and a record date be established for voting purposes at future general meetings.

The new registered shares are expected to be traded for the first time on SIX Swiss Exchange on Tuesday 24 September 2013. The change will be effective in the custody accounts of shareholders three trading days after the first trading day, i.e. on Friday, 27 September 2013.

Further details regarding Richemont’s publicly traded ‘A’ shares may be found on the Group’s website at: http://www.richemont.com/investor-relations/share-history.html

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About Richemont

Richemont owns a portfolio of leading international brands or ‘Maisons’, which are managed independently of one another, recognising their individuality and uniqueness. The businesses operate in four areas: Jewellery Maisons, being Cartier and Van Cleef & Arpels; Specialist watchmakers, being Jaeger-LeCoultre, Piaget, IWC, Baume & Mercier, Vacheron Constantin, Officine Panerai, A. Lange & Söhne and Roger Dubuis, as well as the Ralph Lauren Watch and Jewelry joint venture; the Montblanc Maison; and Other, being Alfred Dunhill, Chloé, Lancel and Net-a-Porter as well as other smaller Maisons and watch component manufacturing activities for third parties.

Richemont 'A' shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

Richemont announces the following changes to its Group Management Committee.

Mr Lutz Bethge, currently Chief Executive Officer of Montblanc International, will be appointed as non-executive Chairman and Head of Supervisory Board of Montblanc. In this capacity, Mr Bethge will represent the Maison externally and will be an advisor to the Maison on strategic matters. He will step down from operational business and from the Group Management Committee on 30 June 2013.

On behalf of the Group, Richemont’s Board of Directors would like to thank Mr Bethge for his immense contribution to the development of Montblanc from a traditional writing instrument manufacturer to a strong luxury Maison. During his 23-year tenure in various roles, the Maison has been recognised as a legitimate player in the watch business, providing continued and significant growth. The Board wishes Mr Bethge every success in his new role.

Richemont’s Board of Directors is also pleased to announce the appointment of Mr Jérôme Lambert, currently Chief Executive Officer of Jaeger-LeCoultre, as Chief Executive Officer of Montblanc. Mr Lambert will remain a member of the Group Management Committee. Montblanc’s new management organisation will be effective from 1 July 2013.

Mr Daniel Riedo, currently Industrial Director of Jaeger-LeCoultre, will succeed Mr Lambert as Chief Executive Officer of Jaeger-LeCoultre.

Further details regarding the Group Management Committee may be found on the Group’s website at: http://www.richemont.com/about-richemont/corporate-governance/group-management-committee.html

Richemont is currently in a ‘closed period’. The Group’s results for the year ended 31 March will be announced on 16 May 2013.

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About Richemont

Richemont owns a portfolio of leading international brands or ‘Maisons’, which are managed independently of one another, recognising their individuality and uniqueness. The businesses operate in four areas: Jewellery Maisons, being Cartier and Van Cleef & Arpels; Specialist watchmakers, being Jaeger-LeCoultre, Piaget, IWC, Baume & Mercier, Vacheron Constantin, Officine Panerai, A. Lange & Söhne and Roger Dubuis, as well as the Ralph Lauren Watch and Jewelry joint venture; the Montblanc Maison; and Other, being Alfred Dunhill, Chloé, Lancel and Net-a-Porter as well as other smaller Maisons and watch component manufacturing activities for third parties.

Richemont 'A' shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

SIX Swiss Exchange requires that issuers make an announcement without delay where the foreseeable profit or loss for a given period is expected to deviate significantly from the profit or loss achieved in the prior-year period. Both significant falls and increases in the anticipated profit or loss require the publication of an ad hoc notice to the market. In accordance with these requirements Richemont makes the following announcement:

Trading for the year to March 2013 showed sales rising 14 % on a reported basis and 9 % on a constant currency basis against the comparative period. On this basis, Richemont’s operating profit for the year to 31 March 2013 is likely to show an increase of approximately 18 % compared to the previous year. Net profit for the year is likely to increase by approximately 30% compared to the previous year.

Disclaimer

The foregoing financial information is unaudited.

Corporate calendar

The Group’s results for the year to 31 March 2013 will be announced on 16 May 2013.

Richemont ‘A’ shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

Cautionary statement regarding forward-looking statements

This document contains forward-looking statements as that term is defined in the United States Private Securities Litigation Reform Act of 1995. Words such as ‘may’, ‘should’, ‘estimate’, ‘project’, ‘plan’, ‘believe’, ‘expect’, ‘anticipate’, ‘intend’, ‘potential’, ‘goal’, ‘strategy’, ‘target’, ‘will’, ‘seek’ and similar expressions may identify forward-looking statements. Such forward-looking statements are not guarantees of future performance. Actual results may differ materially from the forwardlooking statements as a result of a number of risks and uncertainties, many of which are outside the Group’s control.

Richemont announces the retirement of Ms Pilar Boxford, effective 1 April 2013. She will step down from the Group Management Committee at that time. Reflecting the changed role of the Group Management Committee announced in November 2012, Ms Boxford will not be replaced on the Committee.

Ms Boxford joined Cartier Paris in 1979 as Product Manager for the launch of Cartier Parfums and subsequently became responsible for Cartier’s worldwide public relations strategy. Five years later, she transferred to Cartier London as Communications Director. In 2004, Ms Boxford was appointed Group Public Relations Director and joined the Group Management Committee. Following her retirement, she will continue as a consultant, supporting the Maisons on key public relations matters.

Mr Johann Rupert, Richemont Executive Chairman and Chief Executive Officer, said

“After 33 years, Pilar's knowledge and her contribution to Cartier and our other Maisons’ unique position are demonstrated by their worldwide reputations.”

Further details regarding the Group Management Committee may be found on the Group’s website at: http://www.richemont.com/about-richemont/corporate-governance/group-management-committee.html

About Richemont

Richemont owns a portfolio of leading international brands or ‘Maisons’, which are managed independently of one another, recognising their individuality and uniqueness. The businesses operate in four areas: Jewellery Maisons, being Cartier and Van Cleef & Arpels; Specialist watchmakers, being Jaeger-LeCoultre, Piaget, IWC, Baume & Mercier, Vacheron Constantin, Officine Panerai, A. Lange & Söhne and Roger Dubuis, as well as the Ralph Lauren Watch and Jewelry joint venture; the Montblanc Maison; and Other, being Alfred Dunhill, Chloé, Lancel and Net-a-Porter as well as other smaller Maisons and watch component manufacturing activities for third parties.

Richemont 'A' shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

Richemont announces the nomination of Mr Bernard Fornas to the Board of Directors of Compagnie Financière Richemont SA.

Mr Fornas is currently Joint Deputy Chief Executive Officer of Richemont and is a member of its Group Management Committee. Mr Fornas was Chief Executive of Cartier from 2002 to 2012 and first joined that Maison in 1994.

With effect from 1 April 2013, Mr Fornas will become Co-Chief Executive Officer of Richemont. Mr Richard Lepeu will also become Co-Chief Executive Officer of Richemont from that date.

Mr Fornas has been nominated for election to the Board of Directors at the Company’s Annual General Meeting, to be held on 12 September 2013. His appointment is subject to the approval of the shareholders at that meeting. Mr Fornas will serve as an executive director.

About Richemont

Richemont owns a portfolio of leading international brands or ‘Maisons’, which are managed independently of one another, recognising their individuality and uniqueness. The businesses operate in five areas: Jewellery Maisons, being Cartier and Van Cleef & Arpels; Specialist watchmakers, being A. Lange & Söhne, Baume & Mercier, IWC, Jaeger-LeCoultre, Officine Panerai, Piaget, Roger Dubuis and Vacheron Constantin, as well as the Ralph Lauren Watch and Jewelry joint venture; Montblanc Maison; and Other businesses, which include Alfred Dunhill, Chloé, Lancel and Net-a-Porter as well as other smaller Maisons and watch component manufacturing activities for third parties. For more information, please visit www.richemont.com.

Download

Richemont is pleased to announce the publication of its interim report and accounts for the six months ended 30 September 2012. The report may be downloaded from the Richemont website at http://www.richemont.com/investor-relations/reports.html

The interim report reflects the information contained in the Richemont results announcement, which was issued on 9 November 2012, as well as the unaudited condensed consolidated financial statements, which were posted on the Group’s website the same day. Only the printed interim report is definitive.

Copies of the printed interim report will be mailed on 27 November 2012 to all holders of Richemont shares and South African depositary receipts and to other parties who have requested them. Copies may be obtained from the Company’s registered office at the address below or by contacting the Company via the website at http://www.richemont.com/index.php?option=com_requestreport

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Richemont 'A' shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

For the English version of the consolidated results for the six months period ended 30 September 2012 company announcement please click here

For the abridged French version of the consolidated results for the six months period ended 30 September 2012 company announcement please click here

The Board of Compagnie Financière Richemont SA is pleased to announce the following appointments.

As announced on 26 March 2012, Mr Stanislas de Quercize will succeed Mr Bernard Fornas as Chief Executive Officer of Cartier with effect from 1 January 2013. From the same date, Mr Fornas and Mr Richard Lepeu, currently Deputy Chief Executive Officer, will be appointed as Joint Deputy Chief Executive Officers, reporting to Mr Johann Rupert, Executive Chairman and Chief Executive Officer.

Mr Rupert returned to the role of Richemont Chief Executive Officer when Mr Norbert Platt took early retirement due to ill health in 2010. Mr Rupert will step down from that role on 31 March 2013.

From 1 April 2013, Mr Fornas and Mr Lepeu will become Joint Chief Executive Officers. Mr Fornas’ specific role will be to oversee Richemont’s operating companies, or ‘Maisons’. Mr Lepeu will continue to oversee Richemont’s central functions. Mr Fornas and Mr Lepeu together with Mr Gary Saage, Chief Financial Officer, will form a Senior Executive Committee.

In addition, the Board approved certain changes to Richemont’s Group Management Committee.

The following executives will join the Group Management Committee with immediate effect: Mr Lutz Bethge, Chief Executive Officer of Montblanc; Mr Hans-Peter Bichelmeier, Group Operations Director; Mr Stanislas de Quercize, currently Chief Executive Officer of Van Cleef & Arpels and designated Chief Executive Officer of Cartier; Mr Georges Kern, Chief Executive Officer of IWC Schaffhausen; Mr Jérôme Lambert, Chief Executive Officer of Jaeger-LeCoultre; and Mr Philippe Léopold-Metzger, Chief Executive Officer of Piaget.

The following executives will retain their responsibilities but, reflecting the changed role of the Group Management Committee, will resign from that Committee by the end of the current financial year: Mr Giampiero Bodino, Group Art Director; Mr Alan Grieve, Director of Corporate Affairs; Mr Eloy Michotte, Corporate Finance Director; and Mr Jan Rupert, Executive Director.

Further details regarding the current Group Management Committee may be found in section 4 of the Corporate Governance Report published in Richemont’s Annual Report and Accounts 2012, www.richemont.com/investor-relations/reports.html

About Richemont

Richemont owns a portfolio of leading international brands or ‘Maisons’, which are managed independently of one another, recognising their individuality and uniqueness. The businesses operate in four areas: Jewellery Maisons, being Cartier and Van Cleef & Arpels; Specialist watchmakers, being Jaeger-LeCoultre, Piaget, IWC, Baume & Mercier, Vacheron Constantin, Officine Panerai, A. Lange & Söhne and Roger Dubuis, as well as the Ralph Lauren Watch and Jewelry joint venture; the Montblanc Maison; and Other, being Alfred Dunhill, Chloé, Lancel and Net-a-Porter as well as other smaller Maisons and watch component manufacturing activities for third parties.

Richemont 'A' shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

Richemont, the Swiss luxury goods group, is pleased to announce that it has acquired 100 % of the capital of VVSA in a private transaction with the shareholder group.

Based in Delémont since 1962, VVSA is 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.

A historical partner of Richemont's Maisons and Manufactures, VVSA and its 250 employees will reinforce the Group's industrial capabilities via their established technical know-how and state-of-the-art equipment.

The current Directors of VVSA, Mr Damien Donzé, Mr Alain Munier and Mr Béat Chételat, have confirmed their commitment to manage the company, which will continue to serve its existing clients.

The transaction will have no material impact on Richemont’s consolidated net assets and is not expected to have any impact on the Group’s profitability for the year ending 31 March 2013.

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About Richemont

Richemont owns a portfolio of leading international brands or ‘Maisons’, which are managed independently of one another, recognising their individuality and uniqueness. The businesses operate in five areas: Jewellery Maisons, being Cartier and Van Cleef & Arpels; Specialist watchmakers, being A. Lange & Söhne, Baume & Mercier, IWC, Jaeger-LeCoultre, Officine Panerai, Piaget, Roger Dubuis and Vacheron Constantin, as well as the Ralph Lauren Watch and Jewelry joint venture; Montblanc Maison; and Other businesses, which include Alfred Dunhill, Chloé, Lancel and Net-a-Porter as well as other smaller Maisons and watch component manufacturing activities for third parties. For more information, please visit www.richemont.com.

Richemont ‘A’ shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

GENEVA, SWITZERLAND, CHICAGO, IL, and RALEIGH, NC – September 21, 2012 – Compagnie Financière Richemont SA (“Richemont”) and Winona Capital Management LLC (“Winona Capital”) are pleased to announce that an agreement has been reached whereby Richemont will acquire Peter Millar LLC (“Peter Millar”), a US-based, international luxury apparel business, in a private transaction.

The acquisition by Richemont will position Peter Millar for its next stage of development and growth. “We are incredibly fortunate to have partnered with Winona Capital. Together we have developed and built the Peter Millar brand, expanded the product range, and grew sales and distribution,” said Scott Mahoney, Chief Executive Officer of Peter Millar. “Now partnering with Richemont represents a wonderful opportunity for Peter Millar to continue to build the brand globally under Richemont’s stewardship. We look forward to working with Richemont and the association with their prestigious family of brands.”

Luke Reese, Managing Director of Winona Capital, commented, “It has been Winona Capital’s pleasure to work with Scott Mahoney, Chris Knott, and the rest of the Peter Millar team over the last few years to help build such a great company. We are thrilled for Peter Millar to be acquired by Richemont, the finest collection of luxury brands in the world.”

The transaction is expected to close in October 2012 and will have no material impact on Richemont’s consolidated net assets or operating result for the year ending March 31, 2013. Richemont ‘A’ shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index (“SMI”) of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

Robert W. Baird & Co. acted as advisor to Peter Millar in connection with the transaction.

About Peter Millar

Founded in 2001, the Peter Millar line embraces timeless elegance using only the highest quality materials. With a studio and design center in Raleigh, North Carolina as well as business operations in Durham, North Carolina, Peter Millar is one of today’s fastest growing and most sought after brands in the lifestyle apparel market. Global distribution includes North America, Europe, Asia, Australia and the South Pacific. For more information, please visit www.petermillar.com.

About Richemont

Richemont owns a portfolio of leading international brands or ‘Maisons’, which are managed independently of one another, recognising their individuality and uniqueness. The businesses operate in five areas: Jewellery Maisons, being Cartier and Van Cleef & Arpels; Specialist watchmakers, being A. Lange & Söhne, Baume & Mercier, IWC, Jaeger-LeCoultre, Officine Panerai, Piaget, Roger Dubuis and Vacheron Constantin, as well as the Ralph Lauren Watch and Jewelry joint venture; Montblanc Maison; and Other businesses, which include Alfred Dunhill, Chloé and Lancel as well as other smaller Maisons and watch component manufacturing activities for third parties. For more information, please visit www.richemont.com.

About Winona Capital

Winona Capital is a leading investor in consumer and retail brands in the lower middle market. Winona focuses on consumer businesses and brands where Winona sees both passionate executives with a shared focus on growth and an opportunity for Winona to apply its expertise to improve operating performance, create value, and provide investors with superior returns. For more information, please visit www.winonacapital.com or contact Winona Capital at +1 312-334-8800.

Ahead of its Annual General Meeting to be held later today in Geneva, Richemont announces that its sales for the five months ended 31 August 2012 increased by 23 % at actual exchange rates. At constant exchange rates, sales increased by 13 %.

Sales analysis shows continued positive momentum across regions. Europe was strong, particularly in the retail channel in major tourist destinations. Demand in the Asia-Pacific region remained solid after two years of exceptionally high growth. Sales growth in the Americas slowed to 6 % on a constant currency basis, partly due to the timing of exceptional sales in the comparative period. Japan showed resilience.

Retail sales growth was again higher than wholesale sales, reflecting a good performance in the Maisons’ existing boutiques as well as the opening of new boutiques, notably in the Asia-Pacific region.

All business areas enjoyed double-digit growth in sales, with the exception of the Montblanc Maison which did not benefit as greatly from tourist destinations.

Sales growth over the five-month period to August was 13 % at constant exchange rates or 23 % at actual rates. The weakening of the euro against the dollar, in particular, had a positive impact on the Group’s reported sales.

Mr Johann Rupert, Executive Chairman and Group Chief Executive Officer, will comment at today’s meeting as follows:

“Underlying sales in the five month period advanced by 13 %. This average includes a declining month-on-month rate of growth. Nevertheless, the average represents a strong performance when measured against the 35 % growth seen in the comparative period last year.

We can confirm that operating profit for the six months should be some 20 to 40 % higher than last year, as was anticipated in the announcement made on 6 August.

The increase in net profit for the six-month period is also likely to be in that range, notwithstanding the impact of a number of factors, including mark-to-market adjustments in terms of the Group’s foreign exchange hedging programme. Such adjustments will only be determined at the end of September.

The prevailing economic uncertainties, the moderation in sales growth since May and the very strong basis of comparison do not prevent us from maintaining our ambitious investment programme. Indeed we remain confident in the long term potential of our Maisons.”

Richemont’s interim results for the six-month period to 30 September 2012 will be released on 9 November 2012.

Press enquiries

Alan Grieve
Director of Corporate Affairs
Tel: +41 22 721 3507
E-mail: pressoffice@cfrinfo.net 

Analysts' enquiries

Sophie Cagnard
Head of Investor Relations
Tel: +33 1 58 18 25 97
E-mail: investor.relations@cfrinfo.net

Richemont owns a portfolio of leading international brands or ‘Maisons’, which are managed independently of one another, recognising their individuality and uniqueness. The businesses operate in four areas: Jewellery Maisons, being Cartier and Van Cleef & Arpels; Specialist watchmakers, being Jaeger-LeCoultre, Piaget, IWC, Baume & Mercier, Vacheron Constantin, Officine Panerai, A. Lange & Söhne and Roger Dubuis, as well as the Ralph Lauren Watch and Jewelry joint venture; Montblanc Maison; and Other, being Alfred Dunhill, Chloé, Lancel and NET-A-PORTER.COM as well as other smaller Maisons and watch component manufacturing activities for third parties.

For its financial year ended 31 March 2012, Richemont reported sales of € 8 867 million. Operating profit for the year amounted to € 2 040 million.

At the Annual General Meeting of Compagnie Financière Richemont SA held today in Geneva, the shareholders approved the results for the year, including the proposals of the board of directors for the appropriation of retained earnings at 31 March 2012.

A dividend of CHF 0.550 per share will be paid on the listed 'A' bearer shares and a dividend of CHF 0.055 per share will be paid on the unlisted 'B' registered shares of the Company. The dividend in respect of the ‘A’ shares will be payable on 13 September 2012 against presentation of coupon number 15, free of charges but subject to Swiss withholding tax at 35 %. The remaining available retained earnings of the Company, after payment of the dividend, are to be carried forward to the next business year. 

All other matters on the agenda were approved by the shareholders.

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Richemont ‘A’ shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

SIX Swiss Exchange requires that issuers make an announcement without delay where the foreseeable profit or loss for a given period is expected to deviate significantly from the profit or loss achieved in the prior-year period. Both significant falls and increases in the anticipated profit or loss require the publication of an ad hoc notice to the market. In accordance with these requirements Richemont makes the following announcement:

Trading for the four months ended July 2012 showed sales rising 24 % on a reported basis and 13 % on a constant currency basis against the comparative period. On this basis, Richemont’s operating profit for the six months ending 30 September 2012 is likely to show an increase of between 20 % and 40 % compared to the first six months of the last financial year. Net profit for the same period may increase by between 20 % and 40 %.

Many factors driving these results are uncertain and beyond the Group’s control and may therefore lead to actual levels of profit growth for the six month period below or above the ranges indicated. Those uncertain factors include the level of trading during August and September 2012 and the impact of exchange rate movements on the Group’s results. Specifically, exchange rate movements may significantly impact net financial income / expense and therefore net profit for the period.

Richemont is pleased to announce the publication of its annual report and accounts for the year ended 31 March 2012. The report may be downloaded from the Richemont website at http://www.richemont.com/investor-relations/reports.html

Regarding the year under review, the annual report reflects the information contained in the Richemont results announcement, which was issued on 16 May 2012, as well as the Group and Company financial statements which were posted on the Group’s website the same day.

The report will be mailed to all holders of Richemont shares and South African depositary receipts and to other parties who have requested them. The report may be obtained from the Company’s registered office at the address below or by contacting the Company via the website at http://www.richemont.com/group/contact.html

In South Africa, the report may be obtained directly from the Depository Agent at the following address: Computershare Investor Services (Proprietary) Limited, 70 Marshall Street, Johannesburg 2001, (PO Box 61051, Marshalltown 2107).

For the English version of the annual results company announcement please click here

For the abridged French version of the annual results company annoucement please click here

Richemont announces a programme to buy-back up to 10 million Richemont ‘A’ shares through the market over the next two years, representing 1.7 % of the capital and 1.0 % of the voting rights of Compagnie Financière Richemont SA.

Purchases may be effected through share purchases on SIX Swiss Exchange and the purchase of depository receipts on the Johannesburg market at prevailing market prices or through the exercise of over-the-counter call options. The ‘A’ shares acquired will not be cancelled and no second trading line will be introduced as a consequence of the buy-back programme. The ‘A’ shares to be acquired will be held in treasury to hedge awards to executives under the Group’s stock option plan.

Richemont currently holds 24.3 million ‘A’ shares, representing 4.2 % of the capital and 2.3 % of the voting rights of the Company, in treasury as a consequence of previous buy-back programmes, which have also been linked to the Group’s stock option plan. In addition, Richemont holds over-the-counter call options to acquire a further 4.2 million ‘A’ shares, representing 0.7 % of the capital and 0.4 % of the voting rights of the Company.

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Further Information

Richemont “A” shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

Inspired by its unique watchmaking heritage in Geneva, willing to ensure the sustainability of the profession, and motivated by the increasing demand for exceptional timekeepers, Richemont is launching a large and innovative project: the « Campus Genevois de Haute Horlogerie ».

The Group reinforces its roots in Geneva and its involvement in the local economy with an investment of over 100 million Swiss francs. The project will result in the creation of a 30,000 sqm integrated work site in Meyrin, built in accordance with ambitious environmental and socially responsible standards. The total Campus population should reach 900 by 2020, with 400 new staff being hired between now and then.

The Campus will bring together several major high-end Geneva watchmakers in their own premises: the headquarters of the Maison Roger Dubuis, the watchmaking workshop of the Maison Van Cleef & Arpels, production workshops of Vacheron Constantin and the « Manufacture Stern, Genève 1898 ». Stern Création – manufacturer of high-end dials – and the Manufacture Genevoise de Haute Horlogerie – specialised in components of watch movements, 100% Hallmark of Geneva – will join forces to enhance the technicality and creativity of their products.

At the heart of the Campus, a brand new concept will come to life to develop the capabilities of our Maisons: the Learning and Apprenticeship Centre for Haute Horlogerie. With 45 seats available from the start and the ability to deliver official certifications, the Centre will ensure the sustainability of the watchmaking profession and of traditional craftsmanship, the recognition of our Maisons' legacy, and the development of the Group's employees.
In addition, the Campus will host a Research Centre for Watchmaking, with the mission to develop new technologies to sustain the impressive level of innovation and quality of our Maisons. Richemont will invest approximately 60 million Swiss francs on training and research over ten years.

While each entity will preserve its independence and autonomy, the objective of the Campus is to promote interaction and exchange, and enable the transformation of ideas into extraordinary products, such as those bearing the prestigious Hallmark of Geneva.

Richemont would like to thank the State of Geneva, and more specifically the Department of Public Education, for its active participation in the creation of the Learning and Apprenticeship Centre for Haute Horlogerie, due to open in autumn 2012. The Learning Centre is the cornerstone of the Campus which will be inaugurated in autumn 2014.

Richemont owns a portfolio of leading international brands or ‘Maisons’, which are managed independently of one another, recognising their individuality and uniqueness. The businesses operate in four areas: Jewellery Maisons, being Cartier and Van Cleef & Arpels; Specialist watchmakers, being Jaeger-LeCoultre, Piaget, IWC, Baume & Mercier, Vacheron Constantin, Officine Panerai, A. Lange & Söhne and Roger Dubuis, as well as the Ralph Lauren Watch and Jewelry joint venture; the Montblanc Maison; and Other, being Alfred Dunhill, Lancel, Net-a-Porter and Chloé as well as other smaller Maisons and watch component manufacturing activities for third parties.

Richemont is pleased to announce the appointment, by the end of this calendar year, of Mr Stanislas de Quercize as the Chief Executive Officer of Cartier to succeed Mr Bernard Fornas, who reached the age of 65 earlier this month.

Mr de Quercize is currently Chief Executive Officer of Van Cleef & Arpels and will continue in that role until he assumes his new position. Since 1989, he has had an extensive career within the Group, having worked with Montblanc, Alfred Dunhill, Cartier – where he rose to be President of Cartier Inc. in the United States – and, since 2005, Van Cleef & Arpels.

Mr de Quercize will be succeeded as Chief Executive Officer of Van Cleef & Arpels by Mr Nicolas Bos, currently Creative Director of Van Cleef & Arpels and Chief Executive of Van Cleef & Arpels North America.

Johann Rupert, Executive Chairman and Chief Executive Officer of Richemont, said:

“Over the last decade, Bernard Fornas has led Cartier in an entrepreneurial and highly professional manner. He has been responsible during that period for Cartier’s growth strategy and has overseen its geographical expansion, most notably into new markets in Asia. Under Bernard’s leadership, Cartier has thrived and is now exceptionally well positioned as the world’s pre-eminent international jewellery Maison. This is due in no small measure to the commitment, enthusiasm and hard work of Bernard and the excellent management team that he has built.

Stanislas de Quercize has proved himself to be a highly effective leader at Van Cleef & Arpels and has successfully overseen its development, fully respecting the traditions and heritage of that Maison. I am sure that, under Stanislas’ future leadership, Cartier will continue to build upon its successes to date and maintain its unparalleled position as King of Jewellers and Jeweller to Kings.”

Mr Fornas will continue to have a senior management role within the Group, working closely with Johann Rupert and Richard Lepeu. He will remain as a member of Richemont’s Group Management Committee. In due course, Mr de Quercize will also become a member of the Management Committee.

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Richemont owns a portfolio of leading international brands or ‘Maisons’, which are managed independently of one another, recognising their individuality and uniqueness. The businesses operate in four areas: Jewellery Maisons, being Cartier and Van Cleef & Arpels; Specialist watchmakers, being Jaeger-LeCoultre, Piaget, IWC, Baume & Mercier, Vacheron Constantin, Officine Panerai, A. Lange & Söhne and Roger Dubuis, as well as the Ralph Lauren Watch and Jewelry joint venture; the Montblanc Maison; and Other, being Alfred Dunhill, Lancel, Net-a-Porter and Chloé as well as other smaller Maisons and watch component manufacturing activities for third parties.

Richemont 'A' shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

Richemont announces changes to the role of Mr Jan Rupert, a member of the Board of Directors of Compagnie Financière Richemont SA.

Mr Jan Rupert will relinquish his responsibilities as Group Manufacturing Director with effect from 1 April 2012 in order to devote time to other activities. He will remain an Executive Director and will stand for re-election to the Board at the Company’s annual general meeting in September 2012.

Since joining the Group in 1999, Mr Jan Rupert has held the position of Group Manufacturing Director, with overall responsibility for the Group’s manufacturing strategy. Following this change, the Group’s manufacturing strategy will be overseen by Mr Richard Lepeu, the Group’s Deputy Chief Executive Officer.

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Richemont 'A' shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

On 27 May 2010, Richemont announced a programme envisaging the buy-back of 10'000'000 of its own ‘A’ bearer shares over a two year period. On 18 May 2011, the Board of Directors decided to extend the buy-back programme by an additional 5'000'000 ‘A’ bearer shares. The extended buy-back programme thus amounted to 15'000'000 ‘A’ bearer shares.

At a meeting held on 22 March 2012, the Board of Compagnie Financière Richemont SA considered the progress made to date and the requirements of the executive stock option plan. At that meeting, it was decided that the current programme should be terminated with immediate effect. 12'690’200 ‘A’ bearer shares have been repurchased within the scope of the extended programme up to that time. As a consequence of the Board's decision, no further shares will be bought back in terms of the scheme.

The shares acquired are held in treasury to cover the obligations arising from the stock option plan, which benefits certain executives of the Richemont Group. The repurchased shares will not be cancelled.

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Futher Information

Richemont “A” shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

Richemont is pleased to announce the publication of its interim report and accounts for the six months ended 30 September 2011. 

The interim report reflects the information contained in the Richemont results announcement, which was issued on 11 November 2011, as well as the unaudited condensed consolidated financial statements, which were posted on the Group’s website the same day.

Copies of the interim report will be mailed to all holders of Richemont shares and South African depositary receipts and to other parties who have requested them. Copies may be obtained from the Company’s registered office at the address below.

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Richemont 'A' shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing.

For the English version of the consolidated results for the six months period ended 30 September 2011 company announcement please click here

For the abridged French version of the consolidated results for the six months period ended 30 September 2011 company announcement please click here

Ahead of its Annual General Meeting to be held later today in Geneva, Richemont announces that its sales for the five months ended 31 August 2011 increased by 29 % at actual exchange rates. At constant exchange rates, sales increased by 35 %.

On a region-by-region basis, sales growth in Europe was robust, reflecting purchases made by local clients as well as travellers. The Asia-Pacific region continues to report very strong sales growth. This stems from sustained consumer confidence in that region, further boosted by the Maisons’ investments in their distribution networks. Sales growth in the Americas was also notable. Sales in Japan increased, despite the aftermath of the natural disasters which struck that country in March.

Retail sales enjoyed a higher momentum than wholesale sales thanks to a good performance in the Maisons’ boutiques, the expansion of their retail networks, particularly in the Asia-Pacific region, and strong growth at NET-A-PORTER.

All Maisons enjoyed solid growth, in particular the Jewellery Maisons with their wellestablished retail networks.

Richemont expects its sales and operating profit for the first six months of this year to be significantly higher than the comparative period.

Based on the strengthening of the Swiss Franc between March 2011 and today, the Group will incur a significant translation loss on its cash balances. Further, the accounting gain recognised in the comparative period relating to the acquisition of Net-A-Porter of € 101 million will not re-occur. Accordingly, Richemont expects attributable profit to be broadly in line with the prior year despite a significantly higher operating profit.

Mr Johann Rupert, Executive Chairman and Group Chief Executive Officer, commented:

“The rest of the financial year is difficult to predict. The problems of fiscal deficits generally and Euro zone difficulties in particular are likely to act as a drag on business prospects for companies in the period ahead, especially if the growth markets are affected. To hope for a continuation of the current good trading levels in such circumstances may be over-optimistic. In addition, we must keep in mind the demanding comparative figures against which sales in the coming six months will be measured.

Moreover, the impact of the Swiss franc’s appreciation against the euro and other major currencies obviously poses a challenge for all Swiss exporters. For Richemont, with a significant production base, our headquarters and many of our Maisons located in Switzerland, the stronger Swiss franc will continue to be negative for our cost of sales and operating expenses, maintaining negative pressure on our margins.

It is reassuring that our Group continues to enjoy a strong financial position: the net cash position at 31 August 2011 was € 2.6 billion. The strength of our balance sheet, our continuing cost discipline and the agility of our Maisons means that we will continue to maintain our investment plans and face the foreseeable future with cautious optimism.”

Richemont’s interim results for the six-month period to 30 September 2011 will be released on 11 November 2011.

Press enquiries

Alan Grieve
Director of Corporate Affairs
Tel: +41 22 721 3507
E-mail: pressoffice@cfrinfo.net

Analysts' enquiries

Sophie Cagnard
Head of Investor Relations
Tel: +33 1 58 18 25 97
E-mail: investor.relations@cfrinfo.net

Richemont owns a portfolio of leading international brands or ‘Maisons’, which are managed independently of one another, recognising their individuality and uniqueness. The businesses operate in four areas: Jewellery Maisons, being Cartier and Van Cleef & Arpels; Specialist watchmakers, being Jaeger-LeCoultre, Piaget, IWC, Baume & Mercier, Vacheron Constantin, Officine Panerai, A. Lange & Söhne and Roger Dubuis, as well as the Ralph Lauren Watch and Jewelry joint venture; Montblanc Maison; and Other, being Alfred Dunhill, Chloé, Lancel and NET-A-PORTER.COM as well as other smaller Maisons and watch component manufacturing activities for third parties.

For its financial year ended 31 March 2011, Richemont reported sales of € 6 892 million. Operating profit for the year amounted to € 1 355 million.

At the Annual General Meeting of Compagnie Financière Richemont SA held today in Geneva, the shareholders approved the results for the year, including the proposals of the board of directors for the appropriation of retained earnings at 31 March 2011.

A dividend of CHF 0.450 per share will be paid on the listed 'A' bearer shares and a dividend of CHF 0.045 per share will be paid on the unlisted 'B' registered shares of the Company. The dividend in respect of the ‘A’ shares will be payable on 15 September 2011 against presentation of coupon number 14, free of charges but subject to Swiss withholding tax at 35 %. The remaining available retained earnings of the Company, after payment of the dividend, are to be carried forward to the next business year.

All other matters on the agenda were approved by the shareholders.

During the general meeting, the Chairman announced that the board meeting held earlier in the day had approved the recommendations of its Nominations Committee with regard to the responsibilities of certain non-executive directors with immediate effect. Mr Josua Malherbe has been appointed Chairman of the Board’s Audit Committee, replacing Mr Yves-André Istel. Mr Istel will continue to serve on the Audit Committee.

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Richemont is pleased to announce the publication of its annual report and accounts for the year ended 31 March 2011. The report may be downloaded from the Richemont website.

Regarding the year under review, the annual report reflects the information contained in the Richemont results announcement, which was issued on 19 May 2011, as well as the Group and Company financial statements which were posted on the Group’s website the same day.

Copies of the report will be mailed to all holders of Richemont shares and South African depositary receipts and to other parties who have requested them. Copies may be obtained from the Company’s registered office at the address below or by contacting the Company via the website.

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'A' shares issued by Compagnie Financière Richemont SA are listed and traded on SIX Swiss Exchange, (Reuters ‘CFR.VX’ / Bloomberg ‘CFR:VX’ / ISIN CH0045039655) and are included in the Swiss Market Index ('SMI') of leading stocks. The Swiss ‘Valorennummer’ is 4503965.

South African depository receipts in respect of Richemont 'A' shares are traded on the Johannesburg stock exchange operated by JSE Limited (Reuters ‘CFRJ.J’ / Bloomberg ‘CFR:SJ’ / ISIN CH0045159024).

For the English version of the Annual Results company announcement please click here

For the abridged French version of the Annual Results company announcement please click here

Basis and purposes of the buy-back programme

On 27 May 2010, Compagnie Financière Richemont SA, Bellevue, Geneva (‘CFR’) announced a programme envisaging the buy-back of 10'000'000 of its own ‘A’ bearer shares over a two year period, representing 1.74 per cent of the capital and 0.96 per cent of the voting rights of the company. To 18 May 2011, 4'658’509 ‘A’ bearer shares had been repurchased within the scope of this programme, representing 0.81 per cent of the capital and 0.45 per cent of the voting rights of the company.

On 18 May 2011, the Board of Directors of CFR decided to extend the buy-back programme by an additional 5'000'000 ‘A’ bearer shares. The extended buy-back programme thus amounts to 15'000'000 ‘A’ bearer shares of CFR, representing 2.61 per cent of the capital and 1.44 cent of the voting rights of the company.

The shares acquired in the scope of the programme will be held in treasury to cover the obligations arising from the stock option plan, which benefits certain executives of the Richemont Group.

Execution of the buy-back programme - No special trading line

The share buy-backs will be implemented by UBS SA (Investment Bank division) under market conditions, either on SIX Swiss Exchange or on JSE Limited (where the shares would be acquired in the form of ‘depositary receipts’).

The repurchased shares will not be cancelled and the buy-back programme will not give rise to the opening of a special trading line. Information relating to the evolution of the extended buy-back programme will be published regularly on the following address: http://www.copa.ch

The buy-back period started on 27 May 2010 and will expire by 25 May 2012. The publication of the results of the buy-back programme will be published one trading day after its termination.

CFR reserves the right to stop to the buy-back programme at anytime and has no obligation to buy CFR shares in execution of the programme.

Share capital of the company

The share capital of CFR, amounting to CHF 574'200'000, is divided into 522'000'000 ‘A’ bearer shares with a nominal value of CHF 1.00 each and 522'000'000 ‘B’ registered shares with a nominal value of CHF 0.10 each. The ‘A’ bearer shares are included in the Swiss Market Index (SMI) and are traded on SIX Swiss Exchange.

Significant shareholders and Treasury shares

The significant shareholders of CFR (under Art. 20 SESTA) are as follows:

Moreover, on 18 May 2011, CFR indirectly held (treasury shares), via Richemont Employee Benefits Limited, St. Helier, Jersey, 22'406’950 ‘A’ bearer shares representing 3.90 per cent of the capital and 2.15 per cent of the voting rights as well as options with the right to acquire up to 10'658’721 ‘A’ bearer shares, representing 1.86 per cent of the capital and 1.02 per cent of the voting rights; representing in total 5.76 per cent of the capital and 3.17 per cent of the voting rights of CFR.

Confidential Information

At the date of this announcement, CFR does not possess any unpublished information about the Company likely to significantly influence the decision of shareholders to participate in the buy-back programme.

Value number and ISIN

Value Number : 4503965

ISIN : CH0045039655

Richemont announces the nomination of Ms Maria Ramos to the Board of Directors of Compagnie Financière Richemont SA.

Ms Ramos is currently Group Chief Executive of Absa Group Limited, South Africa and is a member of the Executive Committee of Barclays Bank PLC, United Kingdom. Previous positions held by Ms Ramos include Director-General of the National Treasury of South Africa and Group Chief Executive of Transnet Limited, South Africa.

Ms Ramos has been nominated for election to the Board of Directors of Compagnie Financière Richemont SA at the Company’s Annual General Meeting, to be held on 7 September 2011. Her appointment is subject to the approval of the shareholders at that meeting. Ms Ramos will serve as a non-executive director.

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Further information:

Richemont is pleased to announce the publication of its interim report and accounts for the six months ended 30 September 2010. The report may be downloaded from the Richemont website.

The interim report reflects the information contained in the Richemont results announcement, which was issued on 12 November 2010, as well as the unaudited consolidated financial statements, which were posted on the Group’s website the same day.

Copies of the report will be mailed to all holders of Richemont shares and South African depositary receipts and to other parties who have requested them. Copies may be obtained from the Company’s registered office at the address below or by contacting the Company via the website

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'A' shares issued by Compagnie Financière Richemont SA are listed and traded on the SIX Swiss Exchange, (Reuters "CFR.VX" / Bloomberg "CFR:VX" / ISIN CH0045039655) and are included in the Swiss Market Index ('SMI') of leading stocks. The Swiss ‘Valorennummer’ is 4503965.

South African depository receipts in respect of Richemont 'A' shares are traded on the Johannesburg stock exchange operated by JSE Limited (Reuters "CFRJ.J" / Bloomberg "CFR:SJ" / ISIN CH0045159024).

Richemont announces that Maître Dominique Rochat has been appointed to the Audit Committee of Compagnie Financière Richemont SA.

Maître Rochat was elected to the Board of Directors in September 2010. He is a partner in the Geneva office of the law firm Lenz & Staehelin and serves on the Board as a nonexecutive director.

Following Maître Rochat’s appointment, the Audit Committee of Compagnie Financière Richemont SA comprises five non-executive directors: Mr Yves-André Istel, Chairman of the Audit Committee and Deputy Chairman of the Board; Mr Ruggero Magnoni; Mr Josua Malherbe; Lord Renwick of Clifton, Independent Lead Director; and Maître Dominique Rochat.

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For the English version of the consolidated results for the six months period ended 30 September 2010 company announcement please click here

For the abridged French version of the consolidated results for the six months period ended 30 September 2010 company announcement please click here

Ahead of its Annual General Meeting to be held later today in Geneva, Richemont announces that its sales for the five months ended 31 August 2010 increased by 37 per cent at actual exchange rates. At constant exchange rates and excluding the impact on sales of the acquisition of NET-A-PORTER.COM in April 2010, sales increased by 22 per cent.

The strong growth in sales reflects, in part, the low comparative figures reported in the prior period.

Europe, including the Middle East, remains the most important region for the Group with sales accounting for 41 per cent of overall sales. At constant exchange rates and excluding new businesses, sales in the European region increased by 15 per cent. The Asia-Pacific region, including China, continued to report strong sales growth. The Americas region also reported strong growth, albeit compared to very weak comparative figures. Sales growth in Japan was largely due to favourable exchange rate effects.

Excluding the acquisition of NET-A-PORTER, retail sales increased by 24 per cent at constant exchange rates, reflecting strong growth in all regions. The Group’s wholesale business, which suffered in particular during the comparative period due to de-stocking by business partners in some markets, also reported strong growth. The proportion of retail sales has increased from 43 per cent in the comparative period to 47 per cent in the period under review.

All Maisons have benefited from the improvement in the economic climate. The significant sales increase in the ‘Other’ segment principally reflected the acquisition of NET-A-PORTER, as well as positive momentum of the Group’s fashion and accessories Maisons, primarily at the retail level.

Commenting on the first five months sales, Executive Chairman and Group Chief Executive Officer, Mr. Johann Rupert, made the following statement:

"The improved trading environment is certainly welcomed. However, it is far too soon to draw any conclusions about the sustainability of the economic recovery or whether the recession is truly behind us.

This time last year we were still seeing falling sales. This year, with double-digit sales growth already in hand, Richemont will report significantly higher first half profit. However, the rest of the year is less straightforward. In the second half of last year, we saw some recovery in sales, setting higher comparative figures against which sales in the six months from October to March will be measured. Relative to the present conditions, those comparative figures were achieved with a weaker euro against the dollar and yen. Compared to the second half of last year, the current strength of the Swiss franc will be negative for the cost of sales.

While sales in the growth markets of Asia-Pacific and the Middle East continue to expand, sales in other regions remain below the record levels. This reflects the continuing difficulties in Western economies. These sales results highlight our Maisons’ strength in growth markets.

The Group is in a strong financial position. The net cash position at 31 August 2010 was € 1 900 million; broadly in line with the level at the beginning of the current financial year, despite our acquisition of NET-A-PORTER.

Our strong balance sheet, continuing discipline and powerful Maisons allow us to face the foreseeable future with a degree of optimism."

Richemont’s interim results for the six-month period to 30 September 2010 will be released on 12 November 2010.

About Richemont

Richemont owns a portfolio of leading international brands or ‘Maisons’, which are managed independently of one another, recognising their individuality and uniqueness. The businesses operate in four areas: Jewellery Maisons, being Cartier and Van Cleef & Arpels; Specialist watchmakers, being Jaeger-LeCoultre, Piaget, IWC, Baume & Mercier, Vacheron Constantin, Officine Panerai, A. Lange & Söhne and Roger Dubuis, as well as the Ralph Lauren Watch and Jewelry joint venture; the Writing Instrument Maison Montblanc; and Other, being Alfred Dunhill, Lancel, NET-A-PORTER and Chloé as well as other smaller Maisons and watch component manufacturing activities for third parties.

For its financial year ended 31 March 2010, Richemont reported sales of € 5 176 million. Operating profit for the year amounted to € 830 million.

At the Annual General Meeting of Compagnie Financière Richemont SA held today in Geneva, the shareholders approved the results for the year, including the proposals of the board of directors for the appropriation of retained earnings at 31 March 2010.

A dividend of CHF 0.350 per share will be paid on the listed 'A' bearer shares and a dividend of CHF 0.035 per share will be paid on the unlisted 'B' registered shares of the Company. The dividend in respect of the ‘A’ shares will be payable on 16 September 2010 against presentation of coupon number 13, free of charges but subject to Swiss withholding tax at 35 per cent.

The remaining available retained earnings of the Company at 31 March 2010 of CHF 1 600 466 093, after payment of the dividend, are to be carried forward to the next business year.

All other matters on the agenda, including the election of the proposed board of directors and revisions to the Company’s Articles of Incorporation, were approved by the shareholders. In addition to the members of the board standing for re-election, the shareholders appointed Mr Josua Malherbe, Dr Frederick Mostert, Mr Guillaume Pictet, Me Dominique Rochat and Mr Gary Saage to the Board.

During the general meeting, the Chairman also announced that the board meeting held earlier in the day had approved the recommendations of its Nominations Committee with regard to the responsibilities of certain directors with immediate effect. Mr Yves-André Istel had been appointed Deputy Chairman of the Board; Mr Yves-André Istel had been appointed Chairman of the Board’s Audit Committee; Josua Malherbe had been appointed to the Board’s Audit Committee; and Lord Douro had been appointed to the Board’s Compensation Committee.

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Richemont is pleased to announce the publication of its annual report and accounts for the year ended 31 March 2010. The report may be downloaded from the Richemont website.

Regarding the year under review, the annual report reflects the information contained in the Richemont results announcement, which was issued on 27 May 2010, as well as the Group and Company financial statements which were posted on the Group’s website the same day.

Copies of the report will be mailed to all holders of Richemont shares and South African depositary receipts and to other parties who have requested them. Copies may be obtained from the Company’s registered office at the address below or by contacting the Company via the website.

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'A' shares issued by the Swiss parent company, Compagnie Financière Richemont SA, are listed and traded on the SIX Swiss Exchange, (Reuters "CFR.VX" / Bloomberg "CFR:VX" / ISIN CH0045039655) and are included in the Swiss Market Index ('SMI') of leading stocks. The Swiss ‘Valorennummer’ is 4503965.

South African depository receipts in respect of Richemont 'A' shares are traded on the Johannesburg stock exchange operated by JSE Limited (Reuters "CFRJ.J" / Bloomberg "CFR:SJ" / ISIN CH0045159024).

Richemont proposes the following changes to the board of directors of Compagnie Financière Richemont SA.

Mr Guillaume Pictet, a Geneva-based investment manager, and Maître Dominique Rochat, a partner in the Geneva office of the attorneys Lenz & Staehelin, will be proposed for election to the board at the Annual General Meeting to be held on 8 September 2010. Both gentlemen will serve as non-executive directors.

Maître Jean-Paul Aeschimann will not be seeking re-election at the Annual General Meeting. Maître Aeschimann has served as Richemont’s Deputy Chairman since its formation in 1988.

Commenting on Maître Aeschimann’s decision, Johann Rupert, Executive Chairman and Chief Executive Officer of Richemont, said:

"Maître Aeschimann has made an enormous contribution to the Group both as a director and as a valued advisor over the last 22 years. We owe Maître Aeschimann an immense debt of gratitude for the role that he has played over that period, not only as Deputy Chairman but also as Chairman of the Audit Committee and as a member of the Compensation and Nominations Committees. His astute comments and broad understanding of the issues facing the Group will be missed."

The other members of the current board of directors will stand for re-election at the Annual General Meeting and, as previously announced, Mr Josua Malherbe, Dr Frederick Mostert and Mr Gary Saage will stand for election for the first time.

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The management and employees of Richemont wish to express their deep sorrow at the news of the sudden death of Mr Nicolas Hayek.

Mr Johann Rupert, Richemont Executive Chairman and Group Chief Executive Officer paid the following tribute:

"Having worked with Nicolas Hayek in a professional capacity for many years and having regarded him as a personal friend and mentor, I was deeply saddened to learn of his death.

On behalf of all of my colleagues at Richemont, let me take this opportunity to extend our most sincere condolences to Mrs Hayek and to his family.

Nicolas Hayek's death is an immense loss for Switzerland and for the watch industry. He was the driving force behind Swiss watchmaking; its leader and its saviour. Our industry has lost one of its champions, respected by everyone who dealt with him; a man of honour, gravitas and great personal charm.

He was a true leader and entrepreneur and an inspiration to me. He will be missed by all those who were fortunate enough to have known him."

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Richemont announces that its acquisition of shares in NET-A PORTER Limited, as a result of the offer announced on 1 April 2010, has been completed. As a consequence, Richemont will hold an effective economic interest of more than 93 per cent in the issued ordinary capital of NET-A PORTER.

NET-A-PORTER Limited owns NET-A-PORTER.COM, the premier online luxury fashion retailer. Established in 2000, it features collections from over 300 of the world’s leading designers and offers unrivalled customer service; it ships to over 170 countries worldwide and recently celebrated its millionth order.

NET-A-PORTER Limited’s unaudited turnover for the financial year ended 31 January 2010 was approximately £ 120 million; it employs some 600 staff at its principal operations centres in London and New York.

NET-A-PORTER will operate as an independent entity alongside Richemont's other luxury goods businesses.

For the English version of the Annual Results company announcement please click here

For the abridged French version of the Annual Results company announcement please click here

Richemont announces a programme to buy-back up to 10 million Richemont ‘A’ shares through the market over the next two years, representing 1.7 per cent of the capital and 1.0 per cent of the voting rights of Compagnie Financière Richemont SA.

Purchases may be effected through share purchases on SIX Swiss Exchange and the purchase of depositary receipts on the Johannesburg market at prevailing market prices or through the exercise of over-the-counter call options. The ‘A’ shares acquired will not be cancelled and no second trading line will be introduced as a consequence of the buy-back programme. The ‘A’ shares to be acquired will be held in treasury to hedge awards to executives under the Group’s stock option plan.

Richemont currently holds 20.3 million ‘A’ shares, representing 3.5 per cent of the capital and 1.9 per cent of the voting rights of the Company, in treasury as a consequence of previous buy-back programmes, which have also been linked to the Group’s stock option plan. In addition, Richemont holds over-the-counter call options to acquire a further 13.6 million ‘A’ shares, representing 2.4 per cent of the capital and 1.3 per cent of the voting rights of the Company.

__________________________________________

Richemont announces that it has made an offer to shareholders in NET-A-PORTER Limited to acquire all of the shares in NET-A-PORTER Limited. The offer values the equity of NETA-PORTER at £ 350 million. Richemont currently holds some 33 per cent of the issued share capital of NET-A-PORTER Limited.

Irrevocable undertakings to accept the offer have already been received in respect of shares with over 80 per cent of the voting rights. Richemont will be entitled to acquire the remaining shares from other shareholders in due course if the offer becomes unconditional. The offer is expected to become unconditional on or after 1 April 2010.

The offer has the full support of NET-A-PORTER senior management and Ms Natalie Massenet, founder of NET-A-PORTER, will remain as Executive Chairman of NET-APORTER Limited. Ms Massenet is making an investment in the Richemont subsidiary established to own NET-A-PORTER Limited.

NET-A-PORTER Limited owns NET-A-PORTER.COM, the premier online luxury fashion retailer. Established in 2000, it features collections from over 300 of the world’s leading designers and offers unrivalled customer service; it ships to over 170 countries worldwide and recently celebrated its millionth order.

NET-A-PORTER Limited’s unaudited turnover for the financial year ended 31 January 2010 was approximately £ 120 million; it employs some 600 staff at its principal operations centres in London and New York.

NET-A-PORTER will operate as an independent entity alongside Richemont's other luxury goods businesses.
Commenting on the acquisition, Johann Rupert, Executive Chairman and Chief Executive Officer of Richemont, said:

Quote

Natalie has created a superb, customer-oriented business at NET-A-PORTER in a relatively short period of time. We welcome her and her team to Richemont and look forward to working with them in the future to ensure NET-APORTER’s continuing success.

At Richemont, we value the independence of our Maisons very highly. That principle will especially apply to NET-A-PORTER as a platform for third parties. Becoming part of our Group will provide the company with the support it requires to realise its business strategies.

Unquote

Natalie Massenet, Executive Chairman of NET-A-PORTER, said:

Quote

This is an incredibly important stage in the life and development of The NETA- PORTER Group. The entire team is immensely proud of what we have built and is very excited about our future. 10 years on and firmly established as a benchmark in global luxury on-line retail, The NET-A-PORTER Group is poised and ready for the next decade and beyond.

Richemont has completely embraced our vision and strategy since they came on board as a shareholder and together we are going to continue to build the 21st Century model for luxury fashion retailing.

Unquote

The transaction is not anticipated to have any material impact on Richemont’s net asset position or earnings, excluding the impact of one-off accounting adjustments and amortisation charges, for the financial year ending 31 March 2011.

Richemont announces the following changes to the board of directors of Compagnie Financière Richemont SA.

As previously announced, Mr Norbert Platt will give up his role as Chief Executive Officer on 31 March 2010. Mr Platt will remain on the board of Compagnie Financière Richemont SA as a non-executive director. Mr Johann Rupert, currently Executive Chairman, will combine that position with the role of Chief Executive Officer with effect from 1 April 2010.

Mr Richard Lepeu, currently Group Finance Director, will assume the role of Deputy Chief Executive Officer.
Mr Gary Saage will become Chief Financial Officer and Dr Frederick Mostert has been appointed Chief Counsel of the Group. Both gentlemen will be proposed for election to the board of Compagnie Financière Richemont SA at the Annual General Meeting to be held in September 2010. As previously announced, Mr Josua Malherbe will also be proposed for election to the board at that meeting.

Mr Alain Dominique Perrin and Dr Franco Cologni have indicated that they will give up their remaining direct executive roles within the organisation effective as of 31 March 2010. They will continue to serve as non-executive directors of Compagnie Financière Richemont SA.Although allocating more time to their non-Group interests, both gentlemen will also remain closely involved in organisations affiliated to Richemont.

Interim Results 

Unaudited Consolidated Interim Financial Statements

In May 2009, Mr Norbert Platt, the current Group Chief Executive Officer indicated his intention to retire at the end of the year for health reasons. Mr Johann Rupert, the Group's Executive Chairman, will also assume the role of Chief Executive Officer with effect from 1 April 2010. Mr Platt will remain as a director of Compagnie Financière Richemont SA and will act as an advisor to the Group.

Mr Rupert commented as follows:

"Since he took up the role of Chief Executive Officer in 2004, Norbert has achieved remarkable results in terms of building the Group, rationalising its operations and improving our logistics infrastructure. Over the period we have seen a dramatic growth in sales and profitability at Richemont, even if the crisis of the past year has impacted the luxury goods industry so negatively.

Richemont's philosophy is that our Maisons should operate largely autonomously, whilst benefiting from the Group's central and regional support services. In these challenging times, we want to ensure consistency in our management approach. Richemont has strong management in the Maisons, in the regions and in our central functions and I look forward to working more closely with my colleagues." The Board of Compagnie Financière Richemont SA has also nominated Lord Renwick of Clifton to assume the role of Lead Independent Director, given the combination of Mr Rupert's role as Executive Chairman and Chief Executive Officer.

The Annual General Meeting of Compagnie Financière Richemont SA will be held later today in the Mandarin Oriental Hotel, Geneva, Switzerland.

At that meeting, shareholders are expected to approve the proposals of the Board of Directors in terms of the approval of the financial statements and the appropriation of retained earnings. An ordinary dividend of SFr 0.30 per share has been proposed. A further press release will be issued immediately after the meeting to confirm the decision. Given the Richemont restructuring effected in October 2008, the dividend is not comparable to that paid in September last year.

At the meeting, Executive Chairman, Mr. Johann Rupert, will make the following statement in respect of Richemont’s current trading performance:

“From Richemont’s perspective, the first five months of this year through to end August have seen overall sales at a level 16 per cent below the comparable period last year, at actual exchange rates. The Americas region was the worst performer, as expected in the circumstances, with a decline of 36 per cent. Sales in the Asia- Pacific region, including China, grew by 5 per cent although sales in Japan were down 7 per cent. European sales were 22 per cent lower, including the Middle East, which is still growing.

The strengthening of the Yen and the dollar has cushioned the decline in underlying sales by around 5 per cent. Underlying sales in constant currencies were down by 21 per cent overall.

The Group’s retail business, through its own stores, has fared reasonably well, being only 7 per cent below last year’s level; wholesale business on the other hand is down by 21 per cent, which largely reflects de-stocking by retailers, most notably in the Americas.

The Jewellery Maisons and the Specialist Watchmakers experienced declines in sales, of 14 per cent and 18 per cent, respectively. The Writing Instruments division reported sales down 17 per cent for the period, whilst the Leather and Accessories Maisons suffered a decline of only 1 per cent. The ‘Other Businesses’ segment reported sales down by some 23 per cent, which principally reflects a significant decline in the level of turnover in the Group’s component manufacturing activities due to the lack of demand throughout the Swiss watch industry, including third parties.

Comparing the Group’s watch sales with those reported by the Swiss Watchmakers’ Federation for the six months to the end of June 2009, it is worth noting that, in Swiss franc terms, sales by the Maisons are down by some 19 per cent compared to a decline in Swiss watch exports over the same period of 26 per cent.

As I made clear when we published last year’s results in May, despite our continuing cost-control measures, Richemont’s profitability for the first six months of this year will inevitably be significantly below that seen in the period to September 2008.

Although the rate of decline in sales is slowing, we still urge caution. We would prefer to wait until we have more evidence of a broader economic recovery before speculating on the likelihood of a better second half, particularly when it comes to the wholesale business. The comparative figures for the second half of last year are already lower than for the first half and set a lower ‘hurdle’ in terms of performance. These comparatives, although lower, will be mitigated by an unfavourable currency environment in the second half.

Despite the difficult trading environment and the impact of the Group restructuring effected in October last year, which saw the spin off of the nonluxury assets and some € 350 million in cash to Reinet Investments, Richemont had some € 820 million in cash on its balance sheet at 31 March this year, a position that has been broadly maintained through to end August. The Group has no net debt. That is a very comfortable position to be in at this time.

Linked to this financial strength, I am confident in the power of the Maisons to innovate, improve customer service and grow their businesses. I am certain that Richemont will emerge from the current downturn very well placed to take advantage of the return of consumer confidence, whenever that may be.”

For its financial year ended 31 March 2009, Richemont reported an increase in sales of 2 per cent to € 5 418 million. Operating profit amounted to € 982 million, a decrease of 12 per cent compared to the prior year.

Richemont’s interim results for the six-month period to 30 September 2009 will be released in November.

Press enquiries

Mr Alan Grieve
Director of Corporate Affairs
Tel: +41 22 721 3507
E-mail: pressoffice@cfrinfo.net 

Analysts' enquiries

Ms Sophie Cagnard
Head of Investor Relations
Tel: +33 1 58 18 25 97
E-mail: investor.relations@cfrinfo.net 

Richemont owns a portfolio of leading international brands or ‘Maisons’, which are managed independently of one another, recognising their individuality and uniqueness. The businesses operate in five areas: Jewellery Maisons, being Cartier and Van Cleef & Arpels; Specialist watchmakers, which is made up of Jaeger-LeCoultre, Piaget, IWC, Baume & Mercier, Vacheron Constantin, Officine Panerai, A. Lange & Söhne and Roger Dubuis; Writing Instrument Maison - Montblanc; Leather and accessories Maisons, being Alfred Dunhill and Lancel; and Other businesses, which includes, specifically, Chloé as well as other smaller Maisons and watch component manufacturing activities for third parties.

In October 2008, Richemont spun off its investment in British American Tobacco together with some € 350 million in cash and a portfolio of other smaller investments to Reinet Investments SCA, Luxembourg.

At the Annual General Meeting of Compagnie Financière Richemont SA held today in Geneva, the shareholders approved the results for the year, including the proposals of the board of directors for the appropriation of retained earnings at 31 March 2009. A dividend of CHF 0.30 per Richemont share will be paid on the 'A' bearer shares of Compagnie Financière Richemont SA. The dividend will be payable on 14 September 2009 against presentation of coupon number 12, free of charges but subject to Swiss withholding tax at 35 per cent. No dividend will be paid on 'A' bearer shares held in treasury by the Group.

The remaining available retained earnings of the Company at 31 March 2009 of CHF 1 670 309 826, after payment of the dividend, will be carried forward to the next business year.

All other matters on the agenda were approved by the shareholders. All the serving members of the board of directors were re-elected. At the meeting, the Chairman indicated that Mr Josua Malherbe, former deputy Chairman of VenFin Limited and Dr Frederick Mostert, Richemont's Lead Counsel and Chief Intellectual Property Counsel would be proposed for election to the Board at the 2010 meeting.

__________________________________________

Richemont owns a portfolio of leading international brands or ‘Maisons’, which are managed independently of one another, recognising their individuality and uniqueness. The businesses operate in five areas: Jewellery Maisons, being Cartier and Van Cleef & Arpels; Specialist watchmakers, which is made up of Jaeger-LeCoultre, Piaget, IWC, Baume & Mercier, Vacheron Constantin, Officine Panerai, A. Lange & Söhne and Roger Dubuis; Writing Instrument Maison - Montblanc; Leather and accessories Maisons, being Alfred Dunhill and Lancel; and Other businesses, which includes, specifically, Chloé as well as other smaller Maisons and watch component manufacturing activities for third parties.

In October 2008, Richemont spun off its investment in British American Tobacco together with some € 350 million in cash and a portfolio of other smaller investments to Reinet Investments SCA, Luxembourg.

Richemont announces the completion of its extended programme to buy back 15.4 million
Richemont ‘A’ shares through the market.

A programme to buy back 10 million ‘A’ units was announced on 22 May 2008. The approval for an extension to buy back a further 5.4 million ‘A’ shares over a two year period was received on 29 May 2009. The change from units to shares and the extension followed from the Group’s restructuring of 20 October 2008. The extended programme therefore allowed for the buy-back of up to 15.4 million ‘A’ shares over the three-year period from May 2008 to May 2011 and represented 2.68 per cent of the capital and 1.48 per cent of the voting rights of
Compagnie Financière Richemont SA.

Purchases were effected on SIX Swiss Exchange at prevailing market prices and through the exercise of over-the-counter call options. The ‘A’ shares acquired have not been cancelled and no second trading line was introduced as a consequence of the buy-back programme. The ‘A’ shares acquired will be held in treasury to hedge awards to executives under the Group’s stock option plan.

Richemont currently holds in treasury 24.1 million ‘A’ shares, representing 4.20 per cent of the capital and 2.31 per cent of the voting rights of the Company. In addition, Richemont holds over-the-counter call options to acquire a further 13.6 million ‘A’ shares, representing 2.37 per cent of the capital and 1.30 per cent of the voting rights of the Company. All such shares and call options are linked to the Group’s stock option plan. Richemont ‘A’ shares (Valorennummer 4503965; ISIN CH 0045039655) are traded on SIX Swiss Exchange and are included in the SMI Swiss Market Index.

The Board of Compagnie Financière Richemont SA is pleased to announce the appointment of Ms. Martha (Marty) Wikstrom as Chief Executive Officer of the Group's Fashion and Accessories Businesses with immediate effect. Ms. Wikstrom's principal area of responsibility will be Richemont's Alfred Dunhill, Lancel, Chloé, Azzedine Aläia and Shanghai Tang Maisons. She will be based in London and will report to Johann Rupert, Richemont's Executive Chairman.

Commenting on Ms. Wikstrom's appointment, Johann Rupert said

‘I am delighted that Marty has accepted our invitation to join the Group in an executive capacity to head up our fashion and accessories businesses. The creation of this new position and Marty’s appointment reaffirms Richemont’s commitment to our fashion and accessories Maisons®. Marty brings to Richemont her considerable experience and knowledge of how to build and  nurture enduring consumer relationships across a breadth of brands and product categories. She  has the proven ability to translate extraordinary customer service into business expansion.’

Ms. Wikstrom has served as a non-executive director of Compagnie Financière Richemont SA since 2005. She will remain a member of the Board of the Company in an executive capacity. She has extensive experience in speciality retailing, having been President of Nordstrom's Full Line Store Group in the USA and Managing Director of Harrods Limited. Ms. Wikstrom is a founding partner in Atelier Management, LLC, which specialises in the acquisition and development of luxury brands.

_____________________________________

Richemont owns a portfolio of leading international brands or ‘Maisons’, which are managed independently of one another, recognising their individuality and uniqueness. The businesses operate in five areas: Jewellery Maisons, being Cartier and Van Cleef & Arpels; Specialist watchmakers, which is made up of Jaeger-LeCoultre, Piaget, IWC, Baume & Mercier, Vacheron Constantin, Officine Panerai and A. Lange & Söhne; Writing instrument manufacturers - Montblanc and Montegrappa; Leather and accessories Maisons, being Alfred Dunhill and Lancel; and Other businesses, which includes, specifically, Chloé as well as other, smaller Maisons and watch component manufacturing activities for third parties.$

In addition to its luxury goods business, Richemont currently holds a 19.4 per cent interest in British American
Tobacco.

Richemont announces an extension to its existing programme to buy-back up to 10 million Richemont ‘A’ shares through the market. The extension follows the Group restructuring of October 2008 and will lead to the potential purchase of up to an additional 5.4 million ‘A’ shares in the period to May 2011. The extended programme allows for the buy-back of up to 10 million ‘A’ shares over the next two years, representing 1.74 per cent of the capital and 0.96 per cent of the voting rights of Compagnie Financière Richemont SA.

Purchases may be effected through share purchases on SIX Swiss Exchange and the purchase of depositary receipts on the Johannesburg market at prevailing market prices or through the exercise of over-the-counter call options. The ‘A’ shares acquired will not be cancelled and no second trading line will be introduced as a consequence of the buy-back programme. The ‘A’ shares to be acquired will be held in treasury to hedge awards to executives under the Group’s stock option plan.

No purchases in respect of this extension will be made until the requisite authorisations have been received from the Swiss Takeover Board. Richemont currently holds 17.6 million ‘A’ shares, representing 3.07 per cent of the capital and 1.69 per cent of the voting rights of the Company, in treasury as a consequence of previous and existing buy-back programmes, which have also been linked to the Group’s stock option plan. In addition, Richemont holds over-the-counter call options to acquire a further 13.6 million ‘A’ shares, representing 2.37 per cent of the capital and 1.30 per cent of the voting rights of the Company.

Richemont ‘A’ shares (Valorennummer 4503965; ISIN CH 0045039655) are traded on SIX Swiss Exchange and are included in the SMI Swiss Market Index. A total of 522 000 000 ‘A’ shares are in issue. In addition, Richemont has 522 000 000 ‘B’ shares in issue, representing 9.09 per cent of the capital and 50.00 per cent of the voting rights of the Company. The ‘B’ shares are held by Compagnie Financière Rupert and are not listed.

This announcement is for information purposes and does not constitute a listing announcement under the terms of the Listing Requirements of SIX Swiss Exchange nor does it constitute a listing prospectus in terms of article 652a of Swiss Company Law.

On 20 October 2008 Compagnie Financière Richemont SA (‘CFR’) and Reinet Investments SCA (‘Reinet’) confirmed the de-twinning of Richemont 'A' units into CFR shares and Richemont SA participation certificates and the conversion of Richemont SA into Reinet Investments SCA, pursuant to the terms of the Richemont restructuring, details of which were set out in the Information Memorandum published on 15 August 2008 and in the Reinet Prospectus dated 10 October 2008. Set out below are indications of a basis of apportionment of the cost of a Richemont 'A' unit as between the CFR 'A' share and the Reinet shares, which were initially traded on 21 October 2008.

Holders of CFR 'A' shares and Reinet shares

The tax treatment of individuals and corporate and other entities will vary from jurisdiction to jurisdiction. Former Richemont unitholders are strongly advised to consult their own professional advisors in respect of their taxation position. Neither Richemont nor Reinet is in a position to provide taxation advice to holders of the shares of the two companies.

For the purposes of determining the acquisition cost of a Reinet share and a CFR ‘A’ share in the relevant jurisdiction in which the former Richemont unitholder is resident, the acquisition cost of an ‘A’ Unit may have to be split by reference to the historic values of an RSA PC and a CFR ‘A’ share.

In this respect, the volume weighted average price ('VWAP') of a Reinet share on the Luxembourg Stock Exchange and a CFR ‘A’ share on the SIX Swiss Exchange as at close of trade on Tuesday, 21 October 2008 was € 12.87 per Reinet share and CHF25.72 per CFR ’A’ share. Based on these VWAPs and the daily fix for the Euro foreign exchange reference rate for the Swiss franc of 1.5224 as published by the European Central Bank on 21 October 2008, the ratio of the respective market values of the Reinet share and the CFR ‘A’ share on Tuesday, 21 October 2008 was 43.2% relating to the Reinet shares and 56.8% relating to the CFR 'A' shares.
Holders of South African Depositary Receipts Richemont 'A' units were traded on the exchange operated by JSE Limited ('the JSE') in the form of Richemont Depositary Receipts ('DRs') up to the close of business on 20 October 2008. From 21 October 2008, CFR 'A' shares and Reinet shares have traded separately on the
JSE in the form of CFR DRs and Reinet DRs, respectively.

The supplementary information memorandum ('SIM') published by Richemont Securities AG and addressed to holders of Richemont DRs on 15 August 2008 regarding the restructuring of Richemont explained the basis on which South African taxpayers should allocate the purchase cost of Richemont DRs ('Original Expenditure') as between CFR DRs and Reinet DRs. Richemont DR Holders must attribute the expenditure allowable in terms of the provisions of the Eighth Schedule to the Income Tax Act, 1962 in relation to each existing Richemont DR
between the newly issued CFR DR and the Reinet DR based on the market values of CFR DRs and Reinet DRs as soon as they commence trading as separate instruments on the JSE, which will be equal to the combined expenditure in respect of their Reinet DRs and their CFR DRs.

In accordance with practice in South Africa, former Richemont DR Holders may determine the allocation of the Original Expenditure between the new classes of securities by calculating the VWAP of each of the new securities on the first day of their trading. The method of allocation (‘the Apportionment Ratio’), however, remains at the discretion of each holder.

The Apportionment Ratio is to be used to apportion the Original Expenditure between the Reinet DRs and the CFR DRs for the determination of profits and losses, of a capital or trading nature. Where applicable the apportionment ratio is also to be used for capital gains tax purposes to apportion the valuation date value as contemplated in the Eighth Schedule to the Income Tax Act, 1962 between the Reinet DRs and the CFR DRs.

The VWAP of the Reinet DR and the CFR DR as at close of trade on Tuesday, 21 October 2008 was R19.39 per Reinet DR and R23.04 per CFR DR. Accordingly, the ratio of the respective market values of the Reinet DR and the CFR DR on the JSE as at close of trade on Tuesday, 21 October 2008 was 45.7% relating to the Reinet DR and 54.3% relating to the CFR DR.

In determining the base cost of the Reinet DRs and the CFR DRs for capital gains tax purposes, Richemont DR Holders are deemed to have acquired both the Reinet DRs and the CFR DRs on the dates on which the Richemont DRs were originally acquired.

Should Richemont DR holders require further clarification of the tax treatment and consequences of the apportionment of base cost, they should consult their tax advisors. Neither Richemont nor Reinet is in a position to provide taxation advice to holders of DRs.

Limitations of this announcement

This announcement is not intended for distribution to, or use by any person or entity in any jurisdiction or country where such distribution or use would be contrary to local law or regulations. This announcement does not constitute nor does it form part of any offer or invitation to buy, sell, exchange or otherwise dispose of, or issue, or any solicitation of any offer to sell or issue, exchange or otherwise dispose of, buy or subscribe for, any securities, nor does it constitute investment, legal, tax, accountancy or other advice or a recommendation with respect to such securities, nor does it constitute the solicitation of any vote or approval in any jurisdiction, nor shall there be any offer or sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the applicable securities laws of any such jurisdiction (or under exemption from such requirements).

In particular, the information contained herein does not constitute an offer of securities for sale in the United States. None of the securities described or directly or indirectly referred to in this announcement have been and nor will they be registered under the US Securities Act of 1933, as amended (the “Securities Act”). Such securities may not be offered or sold in the United States or to, or for the account or benefit of, US persons (as such terms are defined in Regulation S under the Securities Act) unless registered under the Securities Act or pursuant to an exemption from such registration. If and to the extent that any such securities may be deemed to be offered or sold as a result of the transactions described in this announcement, such securities are being offered and sold only to persons in offshore transactions outside the United States in accordance with Regulation S under the Securities Act. This announcement has not been and may not be disseminated or distributed by any person in the United States or to US persons.

Neither Reinet Investments SCA nor Reinet Fund SCA, FIS have been approved by the Swiss Federal
Banking Commission as a foreign collective investment scheme pursuant to Article 120 of the Swiss Collective Investment Schemes Act of 23 June 2006.

Richemont owns a portfolio of leading international brands or ‘Maisons’, which are managed independently of one another, recognising their individuality and uniqueness. The businesses operate in five areas: Jewellery
Maisons, being Cartier and Van Cleef & Arpels; Specialist watchmakers, which is made up of Jaeger-LeCoultre,
Piaget, IWC, Baume & Mercier, Vacheron Constantin, Officine Panerai, A. Lange & Söhne and Roger Dubuis;
Writing instrument manufacturers - Montblanc and Montegrappa; Leather and accessories Maisons, being Alfred
Dunhill and Lancel; and Other businesses, which includes, specifically, Chloé as well as other, smaller Maisons
and watch component manufacturing activities for third parties.

Reinet Investments SCA acts as a securitisation vehicle allowing investors to access Reinet Fund SCA, FIS, a
specialised investment fund established in Luxembourg. Reinet Fund SCA, FIS will invest with the objective of
capital growth over the long term. The initial assets of the fund include a significant interest in British American
Tobacco plc.

Compagnie Financière Richemont SA (‘CFR’) and Reinet Investments SCA (‘Reinet’) are pleased to confirm that the previously announced de-twinning of CFR shares and Richemont SA participation certificates has been effected as at the close of trading today, 20 October 2008.

As a consequence, the de-twinned CFR ‘A’ shares will begin trading on SWX Europe Limited with effect from the opening of trading tomorrow, 21 October 2008. South African Depositary Receipts in respect of CFR 'A' shares will be traded on the Johannesburg stock exchange from 09:00 (CET and SAST) on Tuesday, 21 October 2008.

In conjunction with the de-twinning, participation certificates issued by Richemont SA have been converted into ordinary shares and Richemont SA has changed its legal form and name to become Reinet Investments SCA (a partnership limited by shares). It is envisaged that the new shares in Reinet will begin trading on the Luxembourg Stock Exchange at midday (CET and SAST) tomorrow, 21 October 2008.

Similarly, it is envisaged that South African Depositary Receipts in respect of Reinet ordinary shares will be traded on the Johannesburg stock exchange from midday (CET and SAST) on Tuesday, 21 October 2008. Further information regarding each of the securities is set out in the Appendix to this announcement.

Following the implementation of the de-twinning, the restructuring process will continue with the distribution of British American Tobacco plc ordinary shares to investors in Reinet on or around 3 November 2008.

Further information in respect of the restructuring is available in the Information Memorandum published on 15 August 2008 and the Reinet listing prospectus published on 10 October 2008. Both documents may (subject to certain restrictions) be downloaded from the Richemont website (www.richemont.com) and the Reinet website (www.reinet.com).

Limitations of this announcement

This announcement is not intended for distribution to, or use by any person or entity in any jurisdiction or country where such distribution or use would be contrary to local law or regulations. This announcement does not constitute nor does it form part of any offer or invitation to buy, sell, exchange or otherwise dispose of, or issue, or any solicitation of any offer to sell or issue, exchange or otherwise dispose of, buy or subscribe for, any securities, nor does it constitute investment, legal, tax, accountancy or other advice or a recommendation with respect to such securities, nor does it constitute the solicitation of any vote or approval in any jurisdiction, nor shall there be any offer or sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the applicable securities laws of any such jurisdiction (or under exemption from such requirements).

In particular, the information contained herein does not constitute an offer of securities for sale in the United States. None of the securities described or directly or indirectly referred to in this announcement have been and nor will they be registered under the US Securities Act of 1933, as amended (the “Securities Act”). Such securities may not be offered or sold in the United States or to, or for the account or benefit of, US persons (as such terms are defined in Regulation S under the Securities Act) unless registered under the Securities Act or pursuant to an exemption from such registration. If and to the extent that any such securities may be deemed to be offered or sold as a result of the transactions described in this announcement, such securities are being offered and sold only to persons in offshore transactions outside the United States in accordance with Regulation S under the Securities Act. This announcement has not been and may not be disseminated or distributed by any person in the United States or to US persons.

Neither Reinet Investments SCA nor Reinet Fund SCA, FIS have been approved by the Swiss Federal Banking Commission as a foreign collective investment scheme pursuant to Article 120 of the Swiss Collective Investment Schemes Act of 23 June 2006.

Richemont owns a portfolio of leading international brands or ‘Maisons’, which are managed independently of one another, recognising their individuality and uniqueness. The businesses operate in five areas: Jewellery
Maisons, being Cartier and Van Cleef & Arpels; Specialist watchmakers, which is made up of Jaeger-LeCoultre,
Piaget, IWC, Baume & Mercier, Vacheron Constantin, Officine Panerai, A. Lange & Söhne and Roger Dubuis;
Writing instrument manufacturers - Montblanc and Montegrappa; Leather and accessories Maisons, being Alfred
Dunhill and Lancel; and Other businesses, which includes, specifically, Chloé as well as other, smaller Maisons
and watch component manufacturing activities for third parties.

Reinet Investments SCA acts as a securitisation vehicle allowing investors to access Reinet Fund SCA, FIS, a
specialised investment fund established in Luxembourg. Reinet Fund SCA, FIS will invest with the objective of
capital growth over the long term. The initial assets of the fund will include a significant interest in British American Tobacco plc.

Appendix

Ticker/Security number/ISIN
CFR 'A' shares
Market SIX Swiss Exchange
Ticker symbol CFR
Swiss Valorennummer 4.503.965
ISIN CH0045039655

CFR Depositary Receipts
Market Johannesburg Stock Exchange
JSE Depositary Receipt Code CFR
ISIN CH0045159024
Swiss Valorennummer 4.515.902

Reinet Investments SCA shares
Market Luxembourg Stock Exchange
Symbol ReinetInvest
Luxembourg common code 38381229
ISIN LU0383812293
Swiss Valorennummer 4.503.016

Reinet Investments SCA Depositary Receipts
Market Johannesburg Stock Exchange
JSE Depositary Receipt Code REI
ISIN (to 27 October 2008) (Note 1) CH0045159214
ISIN (from 28 October 2008) (Note 1) CH0045793657
Swiss Valorennummer (unchanged) 4.515.921

Note 1

From the commencement of trade on the Johannesburg exchange on Tuesday, 28 October 2008, 86.31126 per cent of a Reinet DR holder's holding of Reinet DRs will be 'blocked' in anticipation of their cancellation pursuant to the Reinet Reduction of Capital and the distribution of British American Tobacco plc shares to Reinet DR holders.

In order to allow Reinet DR holders to trade their 'available' Reinet DRs and to ensure that Reinet DR holders do not trade their 'blocked' DRs, the 'available' Reinet DRs will commence trading under the new ISIN number CH0045793657 from 09:00 (SAST) on Tuesday, 28 October 2008.

Further to the announcement made by Richemont on 9 October 2008 regarding the restructuring of Richemont and the distribution of ordinary shares in British American Tobacco plc, Richemont would like to inform Unitholders of the timing of the commencement of trading in 'A' ordinary shares issued by Compagnie Financière Richemont SA ("CFR") and ordinary shares to be issued by Reinet Investments S.C.A. ("Reinet").

The listing of the CFR 'A' shares on SIX Swiss Exchange will take effect and trading of CFR 'A' shares (separate from the participation certificates issued by Richemont S.A.) on SWX Europe Limited will commence at 9.00 am (Central European Time) on Tuesday 21 October 2008. Trading in depositary receipts in respect of the CFR 'A' shares on the exchange operated by JSE Limited in South Africa (the “JSE”) will also commence at 9.00 am (Central European Time and South African Standard Time).

The delivery of Reinet shares to former Richemont unitholders on the morning of 21 October 2008 involves interaction between several independent clearing and settlement systems and there are various steps involved in the crediting and reconciliation of various accounts. Accordingly, whilst the listing of the Reinet shares on the Luxembourg Stock Exchange (and of depositary receipts in respect of the Reinet shares on the JSE) will take effect at 9.00 am (CET and SAST), trading in the Reinet shares (and the Reinet depositary receipts) will commence at 12.00 noon (CET and SAST) on 21 October 2008.

The times and dates set out above in this announcement may be subject to change as a result of events outside Richemont's or Reinet's control which may delay or affect the timing of certain events. Richemont or, where relevant, Reinet will issue a public notice in the event that any change is made to the above times and dates.
Copies of the Information Memorandum published on 15 August 2008, the listing prospectus in respect of Reinet and announcements may (subject to certain restrictions) be downloaded from the Richemont website (www.richemont.com).

Richemont owns a portfolio of leading international brands or ‘Maisons’, which are managed independently of one another, recognising their individuality and uniqueness. The businesses operate in five areas: Jewellery Maisons, being Cartier and Van Cleef & Arpels; Specialist watchmakers, which is made up of Jaeger-LeCoultre, Piaget, IWC, Baume & Mercier, Vacheron Constantin, Officine Panerai, A. Lange & Söhne and Roger Dubuis; Writing instrument manufacturers - Montblanc and Montegrappa; Leather and accessories Maisons, being Alfred Dunhill and Lancel; and Other businesses, which includes, specifically, Chloé as well as other, smaller Maisons and watch component manufacturing activities for third parties.

In addition to its luxury goods business, Richemont currently holds a 19.5 per cent interest in British American Tobacco.

Richemont 'A' equity units are currently listed on SIX Swiss Exchange and traded on SWX Europe. Each 'A' unit comprises one share issued by Compagnie Financière Richemont SA, Geneva and one participation certificate issued by Richemont SA, Luxembourg.

On 8 August 2008, Richemont announced details of its planned restructuring. This involves inter alia the separation of Richemont's luxury goods business from its other interests, the distribution to unitholders of 90 per cent of the Group's shareholding in British American Tobacco plc and the creation of a separate investment vehicle to be known as Reinet Investments SCA, which will be listed on the Luxembourg Stock Exchange and which will trade independently from the luxury goods business.

At a meeting of shareholder of Compagnie Financière Richemont SA ("CFR") held in Geneva today, the restructuring proposals were approved by a large majority. Compagnie Financière Rupert, the controlling shareholder representing the Rupert family interests, did not vote on the proposals. The shareholder approval complements the approval of Richemont SA ("RSA") participation certificate holders obtained at a meeting of that company held yesterday in Luxembourg. The resolutions put to an extraordinary general meeting of Remgro Limited shareholders were passed on 7 October 2008.

All necessary shareholder and participation certificate holder approvals having been obtained, the first phase of the restructuring will be effected on Monday, 20 October 2008. This involves the de-twinning of the CFR shares and RSA participation certificates making up the Richemont units, the transfer of the Group's luxury goods business to CFR and the creation of a new investment vehicle, Reinet Investments SCA., in Luxembourg. Trading in the de-twinned securities of CFR and Reinet Investments will begin on 21 October 2008 on SWX Europe and the Luxembourg exchange, respectively.

Further information in respect of the restructuring proposals and a timetable of the subsequent steps will be provided in a separate announcement. The Information Memorandum, which was published on 15 August 2008 and provides extensive detail of the proposals, may (subject to certain exclusions) be downloaded from the Richemont website: www.richemont.com.

Richemont owns a portfolio of leading international brands or ‘Maisons’, which are managed independently of one another, recognising their individuality and uniqueness. The businesses operate in five areas: Jewellery Maisons, being Cartier and Van Cleef & Arpels; Specialist watchmakers, which is made up of Jaeger-LeCoultre, Piaget, IWC, Baume & Mercier, Vacheron Constantin, Officine Panerai, A. Lange & Söhne and Roger Dubuis; Writing instrument manufacturers - Montblanc and Montegrappa; Leather and accessories Maisons, being Alfred Dunhill and Lancel; and Other businesses, which includes, specifically, Chloé as well as other, smaller Maisons and watch component manufacturing activities for third parties.

In addition to its luxury goods business, Richemont currently holds a 19.5 per cent interest in British American Tobacco. Richemont 'A' equity units are currently listed on SIX Swiss Exchange and traded on SWX Europe. Each 'A' unit comprises one share issued by Compagnie Financière Richemont SA, Geneva and one participation certificate issued by Richemont SA, Luxembourg.

This announcement is not intended for distribution to, or use by any person or entity in any jurisdiction or country where such distribution or use would be contrary to local law or regulations.

On 8 August 2008, Richemont announced details of its planned restructuring. This involves inter alia the separation of Richemont's luxury goods business from its other interests, the distribution to unitholders of 90 per cent of the Group's shareholding in British American Tobacco plc and the creation of a separate investment vehicle to be known as Reinet Investments SCA, which will be listed on the Luxembourg Stock Exchange and which will trade independently from the luxury goods business.

At a meeting of Richemont SA ("RSA") participation certificate holders held today in Luxembourg, the proposals were approved by a large majority. Compagnie Financière Rupert, which holds approximately 9.1 per cent of the participation capital on behalf of the Rupert family, did not vote on the proposals.

The meeting of the shareholders of Compagnie Financière Richemont SA ("CFR") to consider the proposals will be held in Geneva on Thursday, 9 October. Further announcements will be made after that meeting.

If approved by the shareholders of CFR at tomorrow's meeting, the first phase of the restructuring will be effected on Monday, 20 October 2008. This involves the de-twinning of the shares and participation certificates making up the Richemont units, the transfer of the Group's luxury goods business to CFR and the creation of a new investment vehicle, Reinet Investments SCA, in Luxembourg. Trading in the de-twinned securities of CFR and Reinet Investments SCA will begin on 21 October 2008 on SWX Europe and the Luxembourg exchange, respectively.

Further information in respect of the restructuring proposals and a timetable of the subsequent steps will be provided in a separate announcement. The Information Memorandum, which was published on 15 August 2008 and provides extensive detail of the proposals, may (subject to certain exclusions)
be downloaded from the Richemont website: www.richemont.com.

Richemont owns a portfolio of leading international brands or ‘Maisons’, which are managed independently of one another, recognising their individuality and uniqueness. The businesses operate in five areas: Jewellery Maisons, being Cartier and Van Cleef & Arpels; Specialist watchmakers, which is made up of Jaeger-LeCoultre, Piaget, IWC, Baume & Mercier, Vacheron Constantin, Officine Panerai, A. Lange & Söhne and Roger Dubuis; Writing instrument manufacturers - Montblanc and Montegrappa; Leather and accessories Maisons, being Alfred Dunhill and Lancel; and Other businesses, which includes, specifically, Chloé as well as other, smaller Maisons and watch component manufacturing activities for third parties.

In addition to its luxury goods business, Richemont currently holds a 19.5 per cent interest in British American Tobacco. Richemont 'A' equity units are currently listed on SIX Swiss Exchange and traded on SWX Europe. Each 'A' unit comprises one share issued by Compagnie Financière Richemont SA, Geneva and one participation certificate issued by Richemont SA, Luxembourg.

This announcement is not intended for distribution to, or use by any person or entity in any jurisdiction or country where such distribution or use would be contrary to local law or regulations.

Decisions of the meeting

At the Annual General Meeting of Compagnie Financière Richemont SA held today in Geneva, the shareholders approved the results for the year, including the proposals of the board of directors for the appropriation of retained earnings at 31 March 2008.

A dividend of € 0.060 per Richemont unit will be paid to unitholders on the share capital of Compagnie Financière Richemont SA. The dividend will be payable to holders of ‘A’ and ‘B’ units on 15 September 2008 against presentation of coupon number 10, free of charges but subject to Swiss withholding tax at 35 per cent. The total dividend payable to unitholders will amount to € 33 601 043. No dividend will be paid on units held in treasury by the Group.

The Swiss franc equivalent of the dividend for the purposes of with-holding taxes, calculated at the €/Swiss franc exchange rate prevailing as at the time of the Annual General Meeting of 1.5957, is CHF 0.0957420 per Richemont unit or CHF 53 617 185 in total. The remaining available retained earnings of the Company at 31 March 2008 of CHF 1 413 258 700, after payment of the dividend, will be carried forward to the next business year.

In addition to the Compagnie Financière Richemont SA payment, a dividend of € 0.720 per unit will be paid by Richemont SA, Luxembourg. This will be payable to holders of ‘A’ and ‘B’ units without deduction of withholding taxes or charges, on 15 September 2008, against presentation of coupon number 11.

The total dividend for the year, payable by both entities, will therefore be € 0.780 per unit, before deduction of withholding tax.

All other matters on the agenda were approved by the shareholders. All the serving members of the board of directors were re-elected.

Richemont owns a portfolio of leading international brands or ‘Maisons’, which are managed independently of one another, recognising their individuality and uniqueness. The businesses operate in five areas: Jewellery Maisons, being Cartier and Van Cleef & Arpels; Specialist watchmakers, which is made up of Jaeger-LeCoultre, Piaget, IWC, Baume & Mercier, Vacheron Constantin, Officine Panerai, A. Lange & Söhne and Roger Dubuis; Writing instrument Maisons - Montblanc and Montegrappa; Leather and accessories Maisons, being Alfred Dunhill and Lancel; and Other businesses, which includes, specifically, Chloé as well as other smaller Maisons and watch component manufacturing activities for third parties.

In addition to its luxury goods business, Richemont currently holds a 19.5 per cent interest in British American Tobacco.

Press enquiries:

Mr Alan Grieve
Director of Corporate Affairs
Tel. +41 22 721 3507

Analysts’ inquiries:

Ms Sophie Cagnard
Head of Investor Relations
Tel. +33 1 5818 2597

On 8 August 2008, Richemont announced details of its planned restructuring. This involves inter alia the separation of Richemont's luxury goods business from its other interests, the distribution to unitholders of 90 per cent of the Group's shareholding in British American Tobacco plc and the creation of a separate investment vehicle to be known as Reinet Investments SCA, which will be listed on the Luxembourg Stock Exchange and which will trade independently from the luxury goods business.

The proposals are subject to the approval of Richemont unitholders at separate meetings of shareholders of the Swiss parent company, Compagnie Financière Richemont SA, and of holders of participation certificates issued by Richemont SA, Luxembourg.

Luxembourg law requires a quorum of 50 per cent of each class of securities to be present for proposals involving amendments to the statutes of a company to be valid. At a meeting of shareholders and participation certificate holders of Richemont SA held in Luxembourg earlier today, the necessary quorum was, as anticipated, not achieved. Accordingly, the meeting was adjourned.

As provided for in the timetable for the restructuring, a second meeting of participation certificate holders of Richemont SA will be held on Wednesday, 8 October 2008 in Luxembourg to resolve on the proposals. No quorum requirements apply to that meeting. The meeting of the shareholders of Compagnie Financière Richemont SA to consider the proposals will be held in Geneva on Thursday, 9 October. Further announcements will be made after these meetings.

Further information in respect of the restructuring proposals and a complete timetable of the subsequent steps is provided in the Information Memorandum, which can be downloaded from Richemont's website: www.richemont.com.

Richemont owns a portfolio of leading international brands or ‘Maisons’, which are managed independently of one another, recognising their individuality and uniqueness. The businesses operate in five areas: Jewellery Maisons, being Cartier and Van Cleef & Arpels; Specialist watchmakers, which is made up of Jaeger-LeCoultre, Piaget, IWC, Baume & Mercier, Vacheron Constantin, Officine Panerai, A. Lange & Söhne and Roger Dubuis; Writing instrument manufacturers - Montblanc and Montegrappa; Leather and accessories Maisons, being Alfred Dunhill and Lancel; and Other businesses, which includes, specifically, Chloé as well as other, smaller Maisons and watch component manufacturing activities for third parties.

In addition to its luxury goods business, Richemont currently holds a 19.4 per cent interest in British American Tobacco.

Richemont 'A' equity units are currently listed on SWX Swiss Exchange and traded on SWX Europe Limited.
Each 'A' unit comprises one share issued by Compagnie Financière Richemont SA, Geneva and one participation
certificate issued by Richemont SA, Luxembourg.

Richemont is pleased to announce that the Group has acquired a controlling interest in the well known Geneva watch company, Manufacture Roger Dubuis SA in a private transaction with Mr Carlos Dias, one of the founding shareholders.

Manufacture Roger Dubuis SA will continue to manufacture and distribute watches under the ‘Roger Dubuis’ name and will operate as an autonomous 'Maison' within Richemont. Roger Dubuis will benefit from broader integration of its distribution into the Richemont structure as a consequence of the transaction.

Commenting on the transaction, Mr Johann Rupert, Executive Chairman of Richemont, said: "Roger Dubuis watches are highly innovative in terms of movements and design. As a young business, it is very different from the more established specialist watchmakers within the Group today; as such it complements our Maisons perfectly. We look forward to developing the Roger Dubuis business internationally."

The transaction will have no material impact on Richemont's consolidated net assets and is not expected to have any significant impact on the Group's overall profitability for the year ending 31 March 2009.

_____________________________________

Richemont owns a portfolio of leading international brands or ‘Maisons’, which are managed independently of one another, recognising their individuality and uniqueness. The businesses operate in five areas: Jewellery Maisons, being Cartier and Van Cleef & Arpels; Specialist watchmakers, which is made up of Jaeger-LeCoultre, Piaget, IWC, Baume & Mercier, Vacheron Constantin, Officine Panerai and A. Lange & Söhne; Writing instrument manufacturers - Montblanc and Montegrappa; Leather and accessories Maisons, being Alfred Dunhill and Lancel; and Other businesses, which includes, specifically, Chloé as well as other, smaller Maisons and watch component manufacturing activities for third parties.

In addition to its luxury goods business, Richemont currently holds a 19.4 per cent interest in British American Tobacco.

IMPORTANT NOTICE

The announcement and the accompanying presentation (together, the “Announcement”) are not for release, publication or distribution, in whole or part, in or into or from any jurisdiction (including the United States where to do so would constitute a violation of the laws of such jurisdiction.

TERMS OF ACCESS

PLEASE READ CAREFULLY THE TERMS AND CONDITIONS SET OUT BELOW. IF YOU ACCESS THIS SECTION OF THE WEBSITE OR ANY OF THE INFORMATION IT CONTAINS, YOU AGREE TO BE BOUND BY THE TERMS AND CONDITIONS SET OUT BELOW. IF YOU DO NOT AGREE TO THE TERMS AND CONDITIONS, DO NOT ACCESS THIS SECTION OF THE WEBSITE OR ANY OF ITS INFORMATION.

The Announcement contains important information about your investment. You are advised to seek appropriate professional advice in relation to the proposals described in the Announcement.

The distribution of the Announcement may be restricted by local law or regulation. It is the responsibility of persons accessing the Announcement to satisfy themselves as to the full observance of any relevant laws and regulatory requirements. If you are in any doubt, you should not continue to access this area of the website or seek to access the website. In particular, the Announcement must not be accessed by, or otherwise provided to, U.S. persons (as such term is defined in Regulation S under the U.S. Securities Act of 1933, as amended).

I ACKNOWLEDGE AND CONFIRM THAT I HAVE READ, UNDERSTOOD AND ACCEPT THE ABOVE TERMS AND CONDITIONS AND THE TERMS AND CONDITIONS OF USE OF THE RICHEMONT WEBSITE AND HEREBY CONFIRM THAT I AM NOT RESTRICTED BY LAW FROM ACCESSING THIS SECTION OF THE WEBSITE OR THE ANNOUNCEMENT

In November 2007, Richemont announced that it was studying plans which might lead to a separation of its luxury goods operations from its other interests, which include its investment in British American Tobacco plc (“BAT”).

Richemont has conducted an extensive review of potential alternatives open to the Group in anticipation of the elimination of Luxembourg 1929 holding companies at the end of 2010. Richemont SA, the Group’s principal holding entity, currently benefits from the 1929 holding company status, as does the joint venture vehicle used by Richemont and Remgro Limited (“Remgro”) to hold the BAT interest.

The review has resulted in the development of proposals, which would see Richemont separated into two entities: a luxury business, headquartered in Switzerland, and an investment vehicle, which it is currently proposed should be based in Luxembourg and structured as an investment fund.

In addition to retaining their shares in the luxury goods business, it is envisaged that Richemont unitholders would receive shares in the investment vehicle and would be able to receive a substantial part of their interest in the BAT shares directly.

Subject to receipt of appropriate confirmations from Swiss regulators and SWX Swiss Exchange (“SWX”), the luxury goods business would continue to be listed on SWX, whilst it is expected that the new investment vehicle would be listed in Luxembourg, subject to the approval of Luxembourg regulators and the Bourse de Luxembourg.

Appropriate arrangements would be put in place to allow holders of Richemont South African depository receipts (“DRs”) to hold and trade DRs in respect of both the luxury goods and investment entities, subject to the approval of the JSE Limited, which operates the Johannesburg stock exchange.

Discussions are in progress with BAT, which has provided a commitment, if so requested, to apply for a secondary listing of its shares on the Johannesburg stock exchange. This would enable South African residents who currently hold Richemont DRs to hold BAT shares directly.

COMPAGNIE FINANCIÈRE RICHEMONT SA
50, CHEMIN DE LA CHÊNAIE CH-1293 BELLEVUE - GENEVA SWITZERLAND
TELEPHONE +41 (0)22 721 3500 TELEFAX +41 (0)22 721 3550
WWW.RICHEMONT.COM

Significant progress has been made to date in developing and refining the proposals. However, restructuring the Group is complex, involving the cooperation of Remgro and BAT, as well as the coordination of a large number of legal, fiscal and regulatory requirements and approvals in various jurisdictions. To date, not all of the necessary approvals have been obtained and a number of specific conditions must be fulfilled
before the proposed restructuring can be implemented.

The proposed restructuring remains subject inter alia to the necessary conditions and approvals, which will include approval by the Board of Compagnie Financière Richemont SA as well as approval by unitholders in their capacity as shareholders of Compagnie Financière Richemont SA and participation certificate holders of Richemont SA. There can be no certainty that the proposed restructuring as outlined above or any modified proposals will be put forward for approval by unitholders or that such a restructuring would actually take place.
Further announcements will be made when appropriate. No further comment will be made until such time.

______________________________________

Richemont owns a portfolio of leading international brands or ‘Maisons’, which are managed independently of one another, recognising their individuality and uniqueness. The businesses operate in five areas: Jewellery Maisons, being Cartier and Van Cleef & Arpels; Specialist watchmakers, which is made up of Jaeger-LeCoultre, Piaget, IWC, Baume & Mercier, Vacheron Constantin, Officine Panerai and A. Lange & Söhne; Writing instrument manufacturers - Montblanc and Montegrappa; Leather and accessories Maisons, being Alfred Dunhill and Lancel; and Other businesses, which includes, specifically, Chloé as well as other, smaller Maisons and watch component manufacturing activities for third parties.

In addition to its luxury goods business, Richemont holds a 19.4 per cent interest in BAT, one of the world’s leading tobacco groups.

‘A’ bearer units of Richemont are listed on SWX Swiss Exchange and are traded on SWX Europe.

Richemont announces a programme to buy-back up to 10 million Richemont ‘A’ units through the market over the coming 2-year period. The 10 million ‘A’ units represent 1.74 per cent of the capital of the Group and 0.96 per cent of the voting rights of Compagnie Financière Richemont SA.

The ‘A’ units to be acquired will be held in treasury in connection with awards to executives under the Group’s stock option plan. Purchases will be effected through both SWX Europe and the Johannesburg market at prevailing market prices, or through the exercise of over-thecounter call options. The ‘A’ units will not be cancelled and no second trading line will be introduced as a consequence of the buy-back programme.

Richemont currently holds 13.1 million ‘A’ units, representing 2.29 per cent of the capital of the Group and 1.26 per cent of the voting rights at the level of Compagnie Financière Richemont SA, in treasury as a consequence of previous buy-back programmes, which have also been linked to the Group’s stock option plan. In addition, Richemont holds over-thecounter call options to acquire a further 8.9 million ‘A’ units, representing 1.55 per cent of the capital of the Group and 0.85 per cent of the voting rights at the level of Compagnie Financière Richemont SA.

Richemont ‘A’ units (Valorennummer 1273145; ISIN CH 0012731458) are included in the SMI Swiss Market Index and are traded on the SWX Europe exchange. A total of 522 000 000 ‘A’ units, each comprising one share of SFrs 1.00 in Compagnie Financière Richemont SA, Geneva and one participation certificate of no par value issued by Richemont SA, Luxembourg are in issue. In addition, Richemont has 52 200 000 ‘B’ units in issue, representing 9.09 per cent of the capital and 50 per cent of the voting rights at the level of Compagnie Financière Richemont SA. The ‘B’ units are held by Compagnie Financière Rupert and are not listed.

Richemont’s audited results for the year ended 31 March 2008 were announced earlier today. Operating profit increased by 21 per cent to € 1 108 million and net profit increased by 18 per cent to € 1 570 million.
This announcement is for information purposes and does not constitute a listing announcement under the terms of the Listing Requirements of SWX Swiss Exchange nor does it constitute a listing prospectus in terms of article 652a of Swiss Company Law.

______________________________________

Richemont owns a portfolio of leading international brands or ‘Maisons’, which are managed independently of one another, recognising their individuality and uniqueness. The businesses operate in five areas: Jewellery Maisons, being Cartier and Van Cleef & Arpels; Specialist watchmakers, which is made up of Jaeger-LeCoultre, Piaget, IWC, Baume & Mercier, Vacheron Constantin, Officine Panerai and A. Lange & Söhne; Writing instrument Maisons, being Montblanc and Montegrappa; Leather and accessories Maisons, being Alfred Dunhill and Lancel; and Other businesses, which includes, specifically, Chloé as well as other smaller Maisons and watch component manufacturing activities for third parties. In addition to its luxury goods business, Richemont holds a 19.4 per cent interest in British American Tobacco.

Richemont ‘A’ equity units are listed on SWX Swiss Exchange and traded on SWX Europe.

Compagnie Financière Richemont SA has been advised by Public Investment Corporation Limited (‘PIC’), Private Bag X187, Pretoria 0001, Republic of South Africa that accounts under its management hold Richemont South African Depository Receipts (‘DRs’) equivalent to 32 633 436 ‘A’ bearer shares in Compagnie Financière Richemont
SA. Accordingly, PIC’s holding indirectly represents 3.13 per cent of the voting rights in Compagnie Financière Richemont SA.

Each ‘A’ bearer share in Compagnie Financière Richemont SA with a par value of CHF 1.00 is twinned with one participation certificate in Richemont SA of no par value to form one Richemont ‘A’ unit in bearer form.
Richemont South African Depository Receipts are issued by Richemont Securities AG, a wholly-owned subsidiary of Compagnie Financière Richemont SA. In its capacity as depository, Richemont Securities AG holds one ‘A’ bearer share in safe custody for every 10 Richemont DRs in issue.

The information contained in this press release is not considered to be price sensitive.

______________________________________

Richemont owns a portfolio of leading international brands or ‘Maisons’, which are managed independently of one another, recognising their individuality and uniqueness. The businesses operate in five areas: Jewellery Maisons, being Cartier and Van Cleef & Arpels; Specialist watchmakers, which is made up of Jaeger-LeCoultre, Piaget, IWC, Baume & Mercier, Vacheron Constantin, Officine Panerai and A. Lange & Söhne; Writing instrument Maisons, being Montblanc and Montegrappa; Leather and accessories Maisons, being Alfred Dunhill and Lancel; and Other businesses, which includes, specifically, Chloé as well as other smaller Maisons and watch component manufacturing activities for third parties.

In addition to its luxury goods business, Richemont holds a 19.3 per cent interest in British American Tobacco.
Richemont ‘A’ equity units are listed on SWX Swiss Exchange and traded on virt-x.

Compagnie Financière Richemont SA announces that it is considering restructuring its business to split its luxury goods operations from its other interests, which include its interest in British American Tobacco plc (“BAT”).

The proposed restructuring reflects impending changes in the legal environment in Luxembourg where Richemont SA, the principal subsidiary of Compagnie Financière Richemont SA and the co-issuer of Richemont units, is established. Richemont SA is currently a Luxembourg “1929” holding company; the special status of such 1929 holding companies will be abolished at the end of 2010.

Richemont currently has a 19.3 per cent interest in BAT and the restructuring may entail providing Richemont unitholders with the option of becoming direct shareholders in BAT.

The plans for this possible restructuring remain subject to further review. There can be no certainty that any such review would lead to a proposal being announced or that any eventual proposal will have the features outlined above.

Further announcements will be made when appropriate. No further comment will be made until such time.

Richemont owns a portfolio of leading international brands or ‘Maisons’, which are managed independently of one another, recognising their individuality and uniqueness. The businesses operate in five areas: Jewellery Maisons, being Cartier and Van Cleef & Arpels; Specialist watchmakers, which is made up of Jaeger-LeCoultre, Piaget, IWC, Baume & Mercier, Vacheron Constantin, Officine Panerai and A. Lange & Söhne; Writing instrument Maisons - Montblanc and Montegrappa; Leather and accessories Maisons, being Alfred Dunhill and Lancel; and Other businesses, which includes, specifically, Chloé as well as other smaller Maisons and watch component manufacturing activities for third parties.

In addition to its luxury goods business, Richemont holds an 19.3 per cent interest in British American Tobacco.

Richemont 'A' equity units are listed on SWX Swiss Exchange and traded on virt-x.

Download

Richemont, the Swiss luxury goods group, is pleased to announce that it has acquired the watch case manufacturer, Donzé-Baume SA in a private transaction with the family shareholder group.

Donzé-Baume SA is based in Les Breuleux in the Jura canton of Switzerland and has some 300 employees working in the manufacture of watch cases and bracelets. The company supplies many of the leading Swiss specialist watchmaking companies, including a number of Richemont’s own Maisons

Both Mr Gérard Donzé and Mr Roland Donzé will retain their current positions and will continue to be responsible for the management of the company.

The transaction will have no material impact on Richemont’s consolidated net assets and is not expected to have any impact on the Group’s profitability for the year ending 31 March 2008.

Richemont owns a portfolio of leading international brands or ‘Maisons’, which are managed independently of one another, recognising their individuality and uniqueness. The businesses operate in five areas: Jewellery Maisons, being Cartier and Van Cleef & Arpels; Specialist watchmakers, which is made up of Jaeger-LeCoultre, Piaget, IWC, Baume & Mercier, Vacheron Constantin, Officine Panerai and A. Lange & Söhne; Writing instrument Maisons - Montblanc and Montegrappa; Leather and accessories Maisons, being Alfred Dunhill and Lancel; and Other businesses, which includes, specifically, Chloé as well as other smaller Maisons and watch component manufacturing activities for third parties.

In addition to its luxury goods business, Richemont holds an 19.3 per cent interest in British American Tobacco.

Press enquiries:

Mr Alan Grieve
Director of Corporate Affairs
Tel.: +41 22 721 3507

Analysts’ inquiries:

Ms Sophie Cagnard
Head of Investor Relations
Tel.: +33 1 5818 2597

Richemont is pleased to announce that the Group has concluded an agreement with the well known Geneva watch company, Manufacture Roger Dubuis SA.

The transaction involves the purchase by Richemont of the component production facility of Roger Dubuis. The facility currently manufactures movement kits for Roger Dubuis’ Poinçon de Genève watch movements, which Richemont will continue to supply to Manufacture Roger Dubuis SA, under the terms of a long-term agreement.

Manufacture Roger Dubuis SA, which was founded and is managed by Mr Carlos Dias, will continue to operate as an independent manufacturer and distributor under the ‘Roger Dubuis’ brand. In addition to the supply agreement, Richemont will distribute Roger Dubuis watches in some key markets, including the USA and the Middle East.

In order to cope with the increased demand of components for high end watch movements, not only for Roger Dubuis but also for Richemont’s own Maisons, the Group hopes, over time, to extend the production capacity at the Meyrin facility in Geneva. Some 200 employees will be transferred to the Group and the number is expected to grow, as the business develops.

Richemont owns a portfolio of leading international brands or ‘Maisons’, which are managed independently of one another, recognising their individuality and uniqueness. The businesses operate in five areas: Jewellery Maisons, being Cartier and Van Cleef & Arpels; Specialist watchmakers, which is made up of Jaeger-LeCoultre, Piaget, IWC, Baume & Mercier, Vacheron Constantin, Officine Panerai and A. Lange & Söhne; Writing instrument Maisons - Montblanc and Montegrappa; Leather and accessories Maisons, being Alfred Dunhill and Lancel; and Other businesses, which includes, specifically, Chloé as well as other smaller Maisons and watch component manufacturing activities for third parties.

In addition to its luxury goods business, Richemont holds an 19.2 per cent interest in British American Tobacco.

Press enquiries:

Mr Alan Grieve
Director of Corporate Affairs
Tel.: +41 22 721 3507

Analysts’ inquiries:

Ms Sophie Cagnard
Head of Investor Relations
Tel.: +33 1 5818 2597

At the Annual General Meeting of Compagnie Financière Richemont SA held today in Bellevue, Geneva, the shareholders approved the results for the year, including the proposals of the board of directors for the appropriation of retained earnings at 31 March 2007.

A dividend of € 0.054 per Richemont unit will be paid to unitholders on the share capital of Compagnie Financière Richemont SA. The dividend will be payable to holders of ‘A’ and ‘B’ units on 17 September 2007 against presentation of coupon number 8, free of charges but subject to Swiss withholding tax at 35 per cent. The total dividend payable to unitholders will amount to € 30 272 912. No dividend will be paid on units held in treasury by the Group.

The Swiss franc equivalent of the dividend for the purposes of with-holding taxes, calculated at the €/Swiss franc exchange rate prevailing as at the time of the Annual General Meeting of 1.6446, is CHF 0.0888084 per Richemont unit or CHF 49 786 831 in total. The remaining available retained earnings of the Company at 31 March 2007 of CHF 1 081 579 829, after payment of the dividend, will be carried forward to the next business year.

In addition to the Compagnie Financière Richemont SA payment, a dividend of € 1.196 per unit will be paid by Richemont SA, Luxembourg. This consists of an ordinary dividend of € 0.596 and a special dividend of € 0.60 per unit and will be payable to holders of ‘A’ and ‘B’ units without deduction of withholding taxes or charges, on 17 September 2007, against presentation of coupon number 9.

The total dividend for the year, payable by both entities, will therefore be € 1.25 per unit, before deduction of withholding tax.

All other matters on the agenda were approved by the shareholders. All the serving members of the board of directors were re-elected and, in addition, Mrs Anson Chan was elected to the Board.

Richemont owns a portfolio of leading international brands or ‘Maisons’, which are managed independently of one another, recognising their individuality and uniqueness. The businesses operate in five areas: Jewellery Maisons, being Cartier and Van Cleef & Arpels; Specialist watchmakers, which is made up of Jaeger-LeCoultre, Piaget, IWC, Baume & Mercier, Vacheron Constantin, Officine Panerai and A. Lange & Söhne; Writing instrument Maisons - Montblanc and Montegrappa; Leather and accessories Maisons, being Alfred Dunhill and Lancel; and Other businesses, which includes, specifically, Chloé as well as other smaller Maisons and watch component manufacturing activities for third parties.

In addition to its luxury goods business, Richemont holds an 19.2 per cent interest in British American Tobacco.

Further enquiries:

Alan Grieve
Director of Corporate Communications
Compagnie Financière Richemont SA
Telephone : +41 22 721 3507

Analysts’ inquiries:

Ms Sophie Cagnard
Head of Investor Relations
Telephone : + 33 1 5818 2597

Richemont, the Swiss luxury goods group, announces the retirement of Mr Piet Beyers effective 30 June 2007. Mr Beyers, Marketing Services Director, will step down from his position as a member of the Board of Directors of Richemont SA, the Group’s management board.

Mr Beyers joined the Board of Richemont SA in 2000, with broad responsibility for marketing intelligence and related advisory services to the Group’s Maisons. He will not be replaced on the board of Richemont SA. His role as head of the Marketing Services Department will be taken over by Ms Anne Dellière, who has worked with him in the department since 2003.

Mr Johann Rupert, Richemont Executive Chairman, said:

“I have worked with Piet over the last 10 years both at Rothmans and at Richemont. He has been an innovative thinker, a trusted advisor and a good friend. We will all miss his insight into both the luxury industry in general and, in particular, his critical analysis of the approach taken to marketing luxury products by companies both inside and outside the Group. We wish Piet all the best for a very long and enjoyable retirement.”

Further information:

Richemont

Press inquiries:

Mr Alan Grieve
Director of Corporate Affairs
Tel.: +41 22 721 3507

Analysts’ inquiries:

Ms Sophie Cagnard-Fabrici
Head of Investor Relations
Tel.: +33 1 5818 2597

Polo Ralph Lauren

Press inquiries:

Ms Wendy Smith
Tel: +1 212 583 2262

Analysts’ inquiries:
Ms Nancy Murray
Tel: +1 212 813 7862

Richemont owns a portfolio of leading international brands or ‘Maisons’, which are managed independently of one another, recognising their individuality and uniqueness. The businesses operate in five areas: Jewellery Maisons, being Cartier and Van Cleef & Arpels; Specialist watchmakers, which is made up of Jaeger-LeCoultre, Piaget, IWC, Baume & Mercier, Vacheron Constantin, Officine Panerai and A. Lange & Söhne; Writing instrument manufacturers - Montblanc and Montegrappa; Leather and accessories Maisons, being Alfred Dunhill and Lancel; and Other businesses, which includes, specifically, Chloé as well as other, smaller Maisons and watch component manufacturing activities for third parties.

In addition to its luxury goods business, Richemont holds a 19 per cent interest in British American Tobacco.

Compagnie Financière Richemont SA ("Richemont") and Remgro Limited ("Remgro") through their jointly held investment vehicle, R&R Holdings SA, ("R&R") hold a combined interest of 29.3 per cent in British American Tobacco plc ("BAT"). Richemont has an effective interest of 18.9 per cent in BAT and Remgro has an effective interest of 10.4 per cent. These percentage interests have grown in recent years as a consequence of the operation by BAT of its share buy-back programme.

R&R, Richemont, Remgro and BAT are parties to a Standstill Agreement originally entered into at the time of the merger of Rothmans International and BAT in 1999. Under the terms of this agreement, BAT is not permitted to continue with its buy-back programme without R&R's, Richemont's and Remgro's consent in writing once their combined interest reaches 30 per cent. At this level, the London Takeover Code would normally require that a cash offer be made for the shares in BAT that R&R does not already own. The Standstill Agreement therefore protects R&R and its shareholders from the obligation to make a compulsory bid for BAT.

BAT has announced today that it has sought R&R's, Richemont's and Remgro's consent to allow it to continue with its share buy-back programme, notwithstanding that it believes that the 30 per cent limit will be reached within the next 12 to 15 months. To preclude the obligation on R&R, Richemont or Remgro to make a cash bid for those shares that they do not already own, BAT has proposed to obtain approval from its independent shareholders for a waiver under the terms of the Takeover Code. The London Takeover Panel has indicated that, subject to such shareholder approval and its final review, it will waive the obligation.

Subject to the approval of BAT's independent shareholders and the waiver to be given by the Takeover Panel, R&R, Richemont and Remgro have agreed to the proposals made by BAT. In return for giving their consent, they have asked for and obtained a commitment from BAT that, if so requested, it will seek to obtain a secondary listing for its ordinary shares on the Johannesburg Stock Exchange, subject to all required regulatory approvals being obtained. Although the secondary listing would facilitate the trading of BAT ordinary shares in South Africa, neither Richemont, nor Remgro, nor R&R has any intention of making such a request to BAT at this time.

Johann Rupert, Executive Chairman of Compagnie Financière Richemont SA, said:

"Whilst the BAT shareholding has over the years been a strong underlying investment for Richemont, we do not wish to be placed under any obligation to make a bid for the company. Neither do we wish to be forced sellers under the BAT share buy-back programme to avoid such an obligation. We have therefore agreed to BAT's proposal, which would allow the buy-back programme to continue."

Thys Visser, Chief Executive Officer of Remgro Limited, said:

"The BAT proposal allows for the continuation of its buy-back programme for the benefit of all its shareholders. In particular, it would not give rise to circumstances under which Remgro would be obliged either to be a forced seller or to make a cash offer for the company. Together with Richemont, its co-investor, Remgro has agreed to BAT's proposal."