Press releases and news

The Cartier Women's Initiative has helped women impact entrepreneurs to reach their full potential by shining a light on their achievements and providing the necessary financial, social and human capital support to grow their businesses and build their leadership skills.

The programme is open to women-run and women-owned businesses from any country and sector that aim to have a strong and sustainable positive impact on society as defined by the United Nations Sustainable Development Goals.

Fifteen years on, the Cartier Women's Initiative has supported 262 women impact entrepreneurs hailing from 62 countries and has awarded a total of USD6 440 000 to support their businesses.

In the spirit of continuous improvement and to mark the 15th anniversary of the programme, the Cartier Women's Initiative has placed Impact at the heart of its 2022 edition. With the launch of the Impact Report, which put the light on the powerful ripples of positive changes initiated by these women entrepreneurs, Cartier Women's Initiative aims to expand opportunities to more women impact entrepreneurs worldwide.

On this occasion, for the very first time, the Cartier Women's Initiative has unveiled 9 impact awardees.

The Impact Awards cover three categories: Improving Lives, Preserving the Planet, and Creating Opportunities, based on the United Nations Sustainable Development goals.

Highlights

Compared to the third quarter ended 31 December 2020:

• Strong sales, up by 32% at constant exchange rates and by 35% at actual exchange rates
• Double-digit sales growth across all regions, channels and business areas
• Strongest performance from the Americas and Europe, rebalancing regional sales mix
• Retail and online retail, a combined 78% of Group sales, driving growth
• Excellent performance from all three business areas:- Jewellery Maisons, with sales growth of 38% at constant exchange rates (+41% at actual exchange rates) - Fashion & Accessories Maisons, with sales growth of 37% at constant exchange rates (+40% at actual exchange rates), sustained by Chloé, Montblanc and Peter Millar - Specialist Watchmakers, with sales growth of 25% at constant exchange rates (+29% at actual exchange rates)

Compared to the third quarter ended 31 December 2019:

• Continued sequential quarterly growth acceleration, with third quarter sales up by 38% at constant exchange rates and 36% at actual exchange rates
• Pre-pandemic levels substantially exceeded, with sales up double digits across all regions and business areas, as well as online and offline retail channels
• Outstanding performance of the Americas, Asia Pacific and Middle East and Africa; Europe and Japan resuming growth, up double digits
• Performance led by the Jewellery Maisons (+57% and +55% at constant and actual rates respectively) with other business areas growing at or close to 20%

Review of trading in the three-month period ended 31 December 2021 versus the prior-year period, at constant exchange rates

Sales rose by 32% versus the prior year period driven by double-digit increases in all regions, channels and business areas, in a relatively supportive economic environment.

The Americas led the growth with sales up by 55%, followed by Europe and Middle East and Africa, where sales grew by 42% and 30%, respectively. Japan and Asia Pacific saw sales increase by 22% and 18%, respectively, with China consolidating at a high level of +7%. Regional sales mix continued to be further rebalanced with Asia Pacific accounting for 38% of Group sales, followed by Europe and the Americas, at 25% and 23% of Group sales, respectively. Japan and Middle East and Africa each contributed 7% of Group sales.

Retail generated the strongest channel performance, with sales up by 45%, followed by online retail sales up by 19% and wholesale sales up by 14%. Direct sales to consumers have further strengthened to reach 78% of Group sales compared to 75% in the prior year period.

The Jewellery Maisons were the strongest performing business area, with sales increasing by 38%, immediately followed by the Group's Other business area (primarily our Fashion & Accessories Maisons) with sales up by 37%. The Specialist Watchmakers also performed markedly well with sales increasing by 25% while the Online Distributors posted 15% sales growth.

Review of trading in the three-month period ended 31 December 2021 versus the three-month period ended 31 December 2019, at constant exchange rates

On a two-year basis, sales exceeded pre-Covid levels across all regions, channels and business areas.

The Americas, supported by strong local demand, saw sales rise by 59%, followed by Asia Pacific with a 47% sales increase. This commendable performance was driven by double-digit growth in most locations, notably in Australia, China and South Korea, notwithstanding renewed temporary public health protection measures. Europe, with sales up by 12%, reflected solid domestic sales across the region that more than compensated for lower tourism spend compared to two years ago, notwithstanding clients from the Middle East and the USA progressively returning to Europe, notably France. The strongest growth (+65%) was generated in the Middle East and Africa, which benefited from increased domestic demand and higher tourist spend driven by Expo 2020 Dubai and the year-end holiday season. In Japan, the surge in local demand led to a 23% sales increase after two declining quarters.

All channels delivered growth, led by the offline and online retail channels that recorded sales growth of 56% and 40%, respectively. This outstanding performance was driven by double-digit growth across all business areas for retail, and increases of double to triple digits for the online retail channel, depending on the business area. Retail sales were particularly robust in China, Dubai, South Korea and the USA. Sales in the wholesale channel were 4% higher than in the comparative period in 2019, sustained by significant sales in China and the USA.

The stellar 57% sales progression at the Jewellery Maisons, comprised of Buccellati, Cartier and Van Cleef & Arpels, was broad-based across product lines and price points. Sales grew double digits in all regions and across all channels. Reaping the benefits of prior investments and client-centric activities, the Specialist Watchmakers saw sales increase by 20%, with double-digit growth in most regions and watch Maisons. At the Online Distributors, sales rose by 19% reflecting strong trading at YOOX and THE OUTNET as well as the solid performance of Watchfinder. The Group's Other business area, composed primarily of the Group's Fashion & Accessories Maisons, posted a 19% increase in sales. Excluding Delvaux for comparison purposes, growth reached 11%. This noteworthy sales performance was driven by Alaïa, Chloé and Peter Millar.

Trading in the nine-month period ended 31 December 2021

Sales over the nine-month period to December increased by 50% at constant exchange rates and by 51% at actual exchange rates compared to the prior year period, a further improvement over the strong performance in the first six months of the financial year. A quarter-by-quarter sales overview is presented in Appendix 1.

The Group's net cash position at 31 December 2021 amounted to € 4.9 billion (2020: € 2.9 billion).

Corporate calendar

The Group's results for the financial year ending 31 March 2022 will be announced on Friday, 20 May 2022.

The Group's corporate calendar is available on https://www.richemont.com/en/home/investors/corporate-calendar/

About Richemont

At Richemont, we craft the future. Our unique portfolio includes prestigious Maisons distinguished by their craftsmanship and creativity, alongside Online Distributors that cultivate expert curation and technological innovation to deliver the highest standards of service. Richemont's ambition is to nurture its Maisons and businesses and enable them to grow and prosper in a responsible, sustainable manner over the long term.

Richemont operates in four business areas: Jewellery Maisons with Buccellati, Cartier and Van Cleef & Arpels; Specialist Watchmakers with A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis and Vacheron Constantin; Online Distributors with Watchfinder & Co., NET-A-PORTER, MR PORTER, YOOX, THE OUTNET and the OFS division; and Other, primarily Fashion & Accessories Maisons with Alaïa, AZ Factory, Chloé, Delvaux, dunhill, Montblanc, Peter Millar, Purdey and Serapian. Find out more at 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 on the Johannesburg Stock Exchange, 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 3003; investor.relations@cfrinfo.net
Media enquiries: +41 22 721 3507; pressoffice@cfrinfo.net; richemont@teneo.com

Disclaimer

The financial information contained in this announcement is unaudited.

This document contains forward-looking statements as that term is defined in the United States Private Securities Litigation Reform Act of 1995. Such forward-looking statements are not guarantees of future performance. Richemont's forward-looking statements are based on management's current expectations and assumptions regarding the Company's business and performance, the economy and other future conditions and forecasts of future events, circumstances and results. Our retail stores are heavily dependent on the ability and desire of consumers to travel and shop and a decline in consumer traffic could have a negative effect on our comparable store sales and/or average sales per square foot and store profitability resulting in impairment charges, which could have a material adverse effect on our business, results of operations and financial condition. Reduced travel resulting from economic conditions, retail store closure orders of civil authorities, travel restrictions, travel concerns and other circumstances, including disease epidemics and other health-related concerns, could have a material adverse effect on us, particularly if such events impact our customers' desire to travel to our retail stores.

As with any projection or forecast, forward-looking statements are inherently susceptible to uncertainty and changes in circumstances. 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 does not undertake to update, nor does it have any obligation to provide updates of or to revise, any forward-looking statements.

© Richemont 2022

Appendix 1

Appendix 2: Foreign exchange rates

Actual exchange rates for the period are calculated using the average daily closing rates against the euro.

In terms of sales at constant exchange rates, average exchange rates for the year ended 31 March 2021 are used to convert local currency sales into euros for all presented periods. Exchange rate translation effects are thereby eliminated from the reported sales performance.

Richemont has been recognised for its leadership in corporate sustainability by global environmental non-profit CDP, securing a place on its ‘A List’ for tackling climate change.

Matthew Kilgarriff, Group CSR Director, commented: “We are very proud to have been upgraded from A- to A by CDP, an organisation widely recognised as the gold standard of corporate environmental transparency. This is a tribute to all my colleagues at Richemont for engaging effectively to enable progress towards our Sciences Based Targets (SBT), which were validated by the Science-Based Target initiative in September, to reduce greenhouse gas emissions in line with the 2015 Paris Agreement. We believe that our SBTs provide us with a clearly defined pathway to help us reduce our impact on climate change, while future-proofing our business for greener growth”.

A detailed and independent methodology is used by CDP to assess companies, allocating a score of A to D - based on the comprehensiveness of disclosure, awareness and management of environmental risks and demonstration of best practices associated with environmental leadership, including setting meaningful targets.

The full list of companies that made this year’s CDP A List is available here: https://www.cdp.net/en/companies/companies-scores

Richemont announces the publication of its interim report and accounts for the six months ended 30 September 2021. The report is available for download from the Richemont website at: www.richemont.com/en/home/investors/results-reports-presentations

The interim report reflects the information contained in the Richemont results announcement issued on 12 November 2021 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

At Richemont, we craft the future. Our unique portfolio includes prestigious Maisons distinguished by their craftsmanship and creativity, alongside Online Distributors that cultivate expert curation and technological innovation to deliver the highest standards of service. Richemont’s ambition is to nurture its Maisons and businesses and enable them to grow and prosper in a responsible, sustainable manner over the long term.

Richemont operates in four business areas: Jewellery Maisons with Buccellati, Cartier and Van Cleef & Arpels; Specialist Watchmakers with A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis and Vacheron Constantin; Online Distributors with Watchfinder & Co., NET-A-PORTER, MR PORTER, YOOX, THE OUTNET and the OFS division; and Other, primarily Fashion & Accessories Maisons with Alaïa, AZ Factory, Chloé, Delvaux, dunhill, Montblanc, Peter Millar, Purdey and Serapian.

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 is pleased to announce that further progress has been made towards creating a neutral, industry-wide platform, built on the latest omnichannel retail technologies, to support the digitisation of the luxury industry.

In this context, Richemont is in advanced discussions with Farfetch with a view to enhancing the partnership it established last year. The scope of the current discussions includes:

Other industry players and investors have already indicated their interest in investing in YOOX NET-A-PORTER alongside Richemont and Farfetch. The ultimate objective is for YOOX NET-A-PORTER to be a neutral platform, with no controlling shareholders.

Richemont continues to work with Farfetch towards definitive agreements and will provide an update in due course, if and when appropriate. There can be no certainty that the discussions will lead to definitive agreements, nor as to the timing or terms of any transaction. Any transaction would be subject to the receipt of clearances from relevant anti-trust authorities.

About Richemont

At Richemont, we craft the future. Our unique portfolio includes prestigious Maisons distinguished by their craftsmanship and creativity, alongside Online Distributors that cultivate expert curation and technological innovation to deliver the highest standards of service. Richemont’s ambition is to nurture its Maisons and businesses and enable them to grow and prosper in a responsible, sustainable manner over the long term.

Richemont operates in four business areas: Jewellery Maisons with Buccellati, Cartier and Van Cleef & Arpels; Specialist Watchmakers with A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis and Vacheron Constantin; Online Distributors with Watchfinder & Co., NET-A-PORTER, MR PORTER, THE OUTNET, YOOX and the OFS division; and Other, primarily Fashion & Accessories Maisons with Alaïa, AZ Factory, Chloé, Delvaux, dunhill, Montblanc, Peter Millar, Purdey and Serapian. Find out more at 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.

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

©Victor Picon / Victor & Simon


When Women Thrive, Humanity Thrives.

Created by Expo 2020 Dubai in collaboration with Cartier, the Women’s Pavilion takes visitors on a compelling and immersive journey from start to finish.

Under the exhibition titled «New Perspectives», the Women’s Pavilion invites visitors to celebrate and recognize the central role women have played throughout history, leading up to the present day.

By showcasing these contributions, as well as the challenges that women around the world still face, the Pavilion seeks to highlight an important principle: when women thrive, humanity thrives.

Richemont is delighted to announce that Chloé has achieved B Corp certification.

B Corp is one of the most demanding certifications that evaluates brands’ social and environmental impact, with over 300 questions on governance, workers, communities and impact on the environment. It is the result of a collective work at Chloé that started in June 2020, in line with their mission, Women Forward. For a Fairer Future.

This certification offers Chloé a powerful framework to accelerate and guide its transformation. It also demonstrates the brand’s progress and reinforces its commitment to improve and challenge itself to continuously do better, using business as a force for good to benefit all people, communities and the planet.

“It is our strong belief that we need to take full accountability for the impact we have on people and planet, injecting purpose across everything we do, transforming how we do business and actively participating to build a better world. B Corp offers us a powerful framework to accelerate and guide this transformation. We are proud of this achievement and I am thankful to the many people in our company that worked hard to make it possible during more than 18 months. By becoming B Corp today, we reinforce our commitment to continuously challenging ourselves to use our brand and our business as a force for good” said Chloé CEO, Riccardo Bellini.

At Richemont, we are pleased to be ranked #113 out of #750 companies in Forbes ranking of the world's best employers, and thank our colleagues for their vote of confidence.

Forbes has partnered with Statista to survey 150 000 employees from 58 different countries worldwide to determine the ranking. The evaluation was based on respondents' willingness to recommend employer brands and their satisfaction with various work-related statements.

Cartier, part of Richemont and founding member of the #AuraBlockchain Consortium with LVMH and Prada Group, is delighted to welcome the international fashion group OTB as a new founding member.

The founding members of the AURA Blockchain Consortium commented: “The Aura Blockchain Consortium warmly welcomes OTB as our fourth founding member. The Group’s strategy which is geared towards young generations and its courageous choices, combined with its tech expertise, are at the heart of this union. We strongly believe that OTB’s contribution will be of great value for the evolution of our platform and the standards we aim to set for the entire luxury industry”.

Cartier, delegated by Richemont, and Kering launch the Watch and Jewellery Initiative 2030 in partnership with the Responsible Jewellery Council (RJC). The initiative welcomes all watch and jewellery brands with a national and international footprint willing to commit to a set of ambitious and common objectives in three areas: building climate resilience, preserving resources and fostering inclusiveness.

“As the watch and jewellery sector relies on the earth’s precious resources and people’s know-how around the world within its value chains, the imperative to act together in creating a more positive impact has become ever clearer. We are thrilled to join efforts towards a more sustainable industry together with Kering, in partnership with the Responsible Jewellery Council, and to invite other industry actors to join this initiative. More than ever, we remain committed to share our common vision of a future where all Maisons, their suppliers and business partners are empowered to collaborate on projects that deliver positive impact on the planet and its people”, said Cyrille Vigneron, President and CEO of Cartier.

The Watch and Jewellery Initiative 2030 stands at the crossroads of environmental considerations and the ambition to strengthen positive impacts for people all along the value chain, driven by a common conviction that the global Sustainable Development Goals (SDGs) and aspirations for a sustainable industry can only be achieved through collaborative initiatives.

Yesterday, the last night of the Paris Fashion Week closed with a very special show entitled Love brings Love. This event paid tribute to Alber's creative vision and his unconditional Love for the fashion family, in a collaborative runway show that gathered 45 houses and designers.

The show's concept was inspired by a 1945 Parisian exhibition which brought together over sixty French couturiers as a beautiful expression of creativity, prestige, and solidarity in the wake of World War II. Fascinated by this uplifting story, Alber had long dreamt of uniting his wider fashion family for a new, modern iteration of its own. This year, with the help of his colleagues, peers and friends, AZ Factory has brought his biggest dream to life.

The event was livestreamed on AZFactory.com, Youtube and Instagram, and can be watched here:

NET-A-PORTER, MR PORTER and THE OUTNET revealed today a landmark partnership between YOOX NET-A-PORTER and the leading resale technology provider, Reflaunt.

The collaboration will draw on NET-A-PORTER, MR PORTER, and THE OUTNET's unparalleled and personalised customer service heritage. It will enable shoppers to contribute to a more circular fashion system by reselling and extending the lives of their designer items. The resale service will launch first for NET-A-PORTER in Autumn 2021, followed by MR PORTER and THE OUTNET in early 2022.

"More than ever, our customers are looking for fashion that is not only designed to last but for ways in which it can go on to be re-loved. We are thrilled to partner with Reflaunt and offer our customers an effortless service that allows them to resell their designer pieces with ease. We see re-commerce as a true enabler to tap into greater product longevity by extending the lives of pre-loved purchases. This collaboration represents an exciting step in our long-term mission to drive the change at YOOX NET-A-PORTER to a more circular fashion ecosystem." - Alison Loehnis, President, Luxury & Fashion, NET-A-PORTER, MR PORTER and THE OUTNET.

The new resale offer builds on more than 20 years of exceptional global customer service and innovation at YOOX NET-A-PORTER, advancing its commitment to 'Unlock re-commerce' by bringing innovative and memorable re-commerce experiences to customers across its four online stores by 2025.

From 1 October to 31 December 2021, 14 brands will exhibit in the Sanya International Duty-Free Shopping Complex, including 10 Richemont Maisons: A. Lange & Söhne, Baume & Mercier, Cartier, IWC Schaffhausen, Jaeger-LeCoultre, Montblanc, Panerai, Piaget, Roger Dubuis and Vacheron Constantin.

Watches and Wonders Sanya brings a passion for watchmaking excellence to the Chinese seaside resort, opening its doors during the Golden Week. Visitors will have the opportunity of appreciating the different facets of watchmaking art through watchmakers’ demonstrations, discovering the latest trends, diving into the history of emblematic watches, and understanding watch complications. In addition, the participating Maisons will highlight their new collections and pay tribute to their watchmaking heritage through many other entertaining activities.

To celebrate the inauguration of its new cutting-edge 54 000 sqm distribution centre in Landriano, near Milan, YOOX-NET-A-PORTER has welcomed a delegation from the Italian Government for an exclusive tour of the facility. The delegation comprised Maria Stella Gelmini, the Italian Government's Minister of Regional Affairs and Autonomies, Fabiana Dadone, the Italian Government's Minister for Youth Policy, and Alessandra Todde, the Italian Government's vice president Minister of Economic Development.

"We are delighted to have unveiled our cutting-edge distribution centre in Landriano in the presence of the Ministers and Vice Minister. This new global hub for NET-A-PORTER and MR PORTER reflects our commitment to innovation and long-term growth, and to Italy in particular, the country where YOOX was founded 21 years ago. We are proud to continue investing in local talent and to constantly improve the shopping experience for our more than 4.5 million customers across 180 countries worldwide." - Geoffroy Lefebvre, CEO of YOOX NET-A-PORTER.

The logistics hub represents one of YOOX NET-A-PORTER's most important investments of the last 20 years in terms of logistics and operations in Italy, amounting to a total of 47 million euros: an operation that allows the Company to double the capacity of the inventory of NET-A-PORTER and MR PORTER. Leveraging a fully interconnected logistics network built around central hubs and regional distribution centres, the omni-stock model gives NET-A-PORTER and MR PORTER’ customers visibility of and access to stock from anywhere in the world.

As well as serving as a global distribution centre, the Landriano site also encompasses a Digital Production Hub, with 6 000 sqm dedicated to creative innovation and the creation of visual content for luxury brands sold by NET-A-PORTER and MR PORTER.

32 students from 16 countries will join the newly created two-year programme focused on sustainability, technology and management by Swiss academic institutions EPFL, HEC-UNIL and IMD.

The course’s goal is to equip future leaders with the knowledge and skills enabling them to contribute to the transition toward a more resilient, environmentally responsible and inclusive economy while harnessing the power of technology.

Compagnie Financière Richemont SA
Virtual Annual General Meeting
8 September 2021

Address by Johann Rupert, Chairman of the Board

Ladies and Gentlemen, Dear Shareholders,

Before proceeding to the agenda of our 33rd annual general meeting, I would like to say how much I was looking forward to welcoming you in person in 2021. Unfortunately, with the current restrictions on people’s movement and ability to gather, like many other companies, we are holding this annual general meeting again without the presence of shareholders.

The year under review was truly a stress test for our business model. As previously reported, Richemont experienced a negative cash flow of over € 400 million in April 2020. Management immediately implemented strict cost control measures. In addition, your Board of Directors proposed a cut in the dividend for the year whilst issuing a novel three-year Warrant Programme. Our hope was that scientists would find a vaccine during the period. As many countries are now experiencing “post-vaccination” growth, the value of the Warrants has more than compensated for the cut in the dividend.

I would also like to thank all my colleagues at Richemont, both on my behalf and on behalf of the Directors of Compagnie Financière Richemont SA, for the solid performance they have delivered with remarkable agility, courage, solidarity and discipline in exceptional circumstances.

Thanks to their dedication, our Maisons and businesses further progressed on their journey towards ‘Luxury New Retail’, and delivered a good set of results. Last financial year saw a sharp decline in the first half of the year as the health crisis spread across the globe, but sales recovered throughout the year and exceeded € 13.1 billion, led by our Jewellery Maisons, primarily Cartier and Van Cleef and Arpels, online retail and Asia Pacific. Operating margin improved to 11.2% and profit for the year increased by 38% to close to € 1.3 billion, impacted positively by net finance income. Our net cash position rose significantly to € 3.43 billion, even after a € 253 million investment in convertible notes issued by Farfetch. In the start of our current financial year, the business continued to perform strongly, with sales up by 129% at constant exchange rates and 121% at actual exchange rates for the three-month period ended 30 June 2021. Sales exceeded pre-Covid levels, driven by a robust performance by the Jewellery Maisons and Specialist Watchmakers, with the Americas generating the strongest regional performance.

Shareholders will recall our stated ambition to turn as many as possible of our fixed costs into variable costs. Like our competitors, we are exposed to retail leases. Those amount to a yearly commitment of close to € 1 billion. In addition, smaller Maisons find it difficult to absorb central costs to compete with very big brands. To make matters worse, big competitors would use their leverage with retail landlords to squeeze out their smaller competitors.

We therefore deliberately invested in Online Channels as another route to market. The Covid pandemic accelerated online shopping globally. It also changed the lessor/lessee power dynamic. So, after years of absorbing heavy investments, we are now finally seeing other parties willing and eager to share the evolving platforms. We should be able to share more news on this matter later in the year.

Whilst we remain alert to the potential impact of the ongoing nature of the pandemic and entirely mobilised to safeguard the health and safety of our colleagues, clients and partners, this performance indicates that we are seeing the benefits of our transformation. The Jewellery Maisons’ continued strength underlines the enduring appeal of Cartier, Van Cleef & Arpels and Buccellati, while our Specialist Watchmakers division has regained a healthy state. With the re-platforming of NET-A-PORTER now complete, we have improved the customer journey and further evolved the Online Distributors’ business model. There is renewed creative energy in our Fashion & Accessories Maisons, that recently welcomed Delvaux, the renowned Belgian luxury leather goods Maison.

Before turning to the evolution of our governance, allow me to pay tribute to Alber Elbaz, who very tragically passed away last April, shortly after the successful launch of AZ Factory, his inclusive dream of ‘smart fashion that cares’. Our dear friend and colleague will be forever remembered for his incredible sensitivity, wit and talent.

At this shareholders’ meeting, you are asked to approve a number of changes to the Board of Directors to streamline our corporate governance structure and strengthen the Board’s competence as we embark on the next stage of our development. Indeed, our corporate governance structures have continued to evolve to meet the changing demands of our operating environment most efficiently, in line with best practice. The Maisons have been given increased entrepreneurial freedom to focus on their leadership responsibilities and durably create value, whereas the Board and the Senior Executive Committee will focus on strategic guidance, capital allocation and the provision of central and regional services. Reflecting this ambition, Cyrille Vigneron, President & Chief Executive of Cartier and Nicolas Bos, President & Chief Executive of Van Cleef & Arpels have stepped down from the Board of Directors and from the Senior Executive Committee. They will continue to report to me. Only Jérôme Lambert, Chief Executive Officer, and Burkhart Grund, Chief Finance Officer, have sought re-election to the Board of Directors and remain, with me, on the Senior Executive Committee; the other senior executives, Philippe Fortunato, CEO of Fashion & Accessories Maisons, Emmanuel Perrin, Head of Specialist Watchmakers Distribution, and Frank Vivier, Chief Transformation Officer, have stepped down from that committee. I am truly grateful for their collective engagement and valued contributions to the Senior Executive Committee. Two long-standing Non-executive Directors, Alan Quasha and Gary Saage, have also announced their retirement from the Board of Directors and I wish to thank them for the considerable contributions they have made to the Group over many years.

I am delighted that Jasmine Whitbread and Patrick Thomas have been nominated for election to the Board of Directors as Non-executive Directors. Jasmine’s deep understanding of ESG issues and Patrick’s unrivalled industry expertise will further reinforce the breadth and depth of the skillset on the Board.

Lastly, Jan Rupert and Ruggero Magnoni, Non-executive Directors, have indicated that they will not seek re-election at the 2022 AGM, enabling an orderly handover with their successors on their respective Board Committees. Without further changes, the Board will then consist of 16 members, allowing for sufficient representation and diversity of skills in the five Board Committees while avoiding directors sitting on too many committees.

Richemont has a long-standing commitment to doing business responsibly and, last year, made significant progress across its main focus areas in alignment with the UN’s Sustainable Development Goals. Issues about global warming and sustainability have become urgent. If we do not want our generation to leave a dirty and hot planet to our grandchildren, we have to change our habits and show a far bigger appreciation for the ecology and for the planet - not only for human beings but for all of life on the planet, the fauna and the flora. Having been involved in world wildlife and ecology for nearly forty years, I am pleased to report that the following Science-Based Targets (SBT) to reduce greenhouse gas (GHG) emissions in line with the 2015 Paris Agreement and help prevent the worst impacts of climate change, have recently been validated by the Science-Based Target initiative:

• reduce absolute Scope 1 and 2 GHG emissions by 46% by 2030 from a 2019 base year
• source 100% of renewable electricity by 2025
• reduce Scope 3 GHG emissions from purchased goods, services and business travel by 55% per dollar value added by 2030 from a 2019 base year
• and ensure 20% of our key suppliers by emissions have SBTs by 2025.

Nearly 90% of all the plastic produced over the past six decades still exists. Less than 10% of the over 8 billion metric tons of plastic has been recycled. As part of our responsible commitment, we will also phase out use of Polyvinyl chloride (PVC), which is very hard to recycle. Some countries are already banning PVC from their landfills. We will therefore eliminate PVC from all products and packaging by December 2022. Already, all of our Maisons and businesses are working to replace PVC by alternative materials and/or solutions. We will continue to work collaboratively with industry organisations and our business partners to promote best practices across the full supply chain.

The past year has seen Richemont evolve its Human Resources Vision and Mission to offer colleagues greater levels of engagement and support across their entire employee journey. We also reaffirmed our shared values, which promote collegiality, freedom, solidarity and loyalty, to craft the future together.

In closing, though we continue to live in uncertain times geo-politically, I would like to reiterate my confidence in the Group’s long-term prospects with strong Maisons, reinforced governance and capabilities, and heightened commitment to responsible business practices. In an environment that continues to be disrupted by the Covid-19 pandemic, I wish each of you well.

At the Annual General Meeting of Compagnie Financière Richemont SA (the ‘Company’) held today in Geneva, the shareholders approved all of the matters on the agenda by an overwhelming majority.

Specifically, the results for the year, including the proposals of the Board of Directors for the appropriation of retained earnings at 31 March 2021, were approved.

Shareholders approved the appointment of new non-executive directors Jasmine Whitbread and Patrick Thomas, and voted in favour for the re-appointment of all Board members who stood for re-election this year.

A dividend of CHF 2.00 per share was approved and will be paid on the listed A registered shares while 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 Thursday, 23 September 2021. The dividend in respect of Richemont South African Depository Receipts will be payable on Wednesday 29 September 2021. 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.

About Richemont

At Richemont, we craft the future. Our unique portfolio includes prestigious Maisons distinguished by their craftsmanship and creativity, alongside Online Distributors that cultivate expert curation and technological innovation to deliver the highest standards of service. Richemont’s ambition is to nurture its Maisons and businesses and enable them to grow and prosper in a responsible, sustainable manner over the long term.

Richemont operates in four business areas: Jewellery Maisons with Buccellati, Cartier and Van Cleef & Arpels; Specialist Watchmakers with A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis and Vacheron Constantin; Online Distributors with Watchfinder & Co., NET-A-PORTER, MR PORTER, THE OUTNET, YOOX and the OFS division; and Other, primarily Fashion & Accessories Maisons with Alaïa, AZ Factory, Chloé, Delvaux, dunhill, Montblanc, Peter Millar, Purdey and Serapian. Find out more at 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.

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;
vdg@dynamicsgroup.ch

We are proud to share that the Science Based targets we submitted in May have been validated by the Science Based Targets initiative. Developed in line with the objectives of the Paris Agreement, they provide us with a clearly defined pathway to reduce gas emissions and help us prevent the worst impacts of climate change, while future-proofing our business for greener growth.

- reduce absolute Scope 1 and 2 GHG emissions by 46% by 2030 from a 2019 base year
- source 100% of renewable electricity by 2025
- reduce Scope 3 GHG emissions from purchased goods, services and business travel by 55% per dollar value added by 2030 from a 2019 base year
- and ensure 20% of our key suppliers by emissions have SBTs by 2025.

Discover more about our initiatives on our 2021 sustainability highlight here: https://richemontsustainability.com/

To hear more

Richemont (the "Company") announces it will publish an amended Notice of Meeting to reflect the new proposals for the upcoming annual general meeting (“AGM”) to be held on 8 September 2021.

In light of the Board’s previously disclosed commitment to evolve governance arrangements to better face the operating challenges the group faces, while aligning with best practice, the Board has enacted the following changes.

Richemont is pleased to announce the nominations of Jasmine Whitbread and Patrick Thomas for election to the Board of Directors. Their appointments are subject to the approval of shareholders at the 2021 AGM due on 8 September 2021. Both Ms Whitbread and Mr Thomas will serve as Non-executive Directors and become members of the Board’s Nominations Committee.

Ms Whitbread is an experienced Non-executive Director with a long-standing interest in ESG issues. She has a leadership and management background spanning marketing, technology, finance, media, telecommunications, and not-for-profit organisations. A British and Swiss national, Jasmine is currently Non-executive Chair of Travis Perkins PLC, a Non-executive Director of Standard Chartered PLC and WPP PLC, a Visiting Fellow at Oxford University and an advisor to Richemont’s Governance and Sustainability Committee. She has previously served as CEO of Save the Children International and London First. Jasmine also served as a Non-executive Director on BT Group PLC where she was a member of the Audit and Risk Committee, and chaired the Digital Impact & Sustainability Committee.

Mr Thomas, a French national, brings more than 30 years of experience in the luxury goods industry. He was the first and only non-family manager of Hermès, where he served as CEO and led the group’s considerable development from 2003 until 2014, after eight years as COO from 1989 to 1997. Patrick equally held senior positions at Lancaster Group and Pernod Ricard. He is currently the Chairman of the Supervisory Board of Champagne Laurent Perrier, the Chairman of the Supervisory Board of Ardian, the Lead Independent Director of Teleperformance, a Non-executive Director of MycoWorks and a Non-executive Director of Shang Xia Trading (China).

Richemont also announces that Non-executive Director Gary Saage will not seek re-election to the Board of Directors in September.

Mr Saage was appointed to the Board in 2010 when he became Group Chief Finance Officer of Richemont. Since 2017, Gary has served as a Non-executive Director and a member of the Nominations Committee. In addition, he is the Chairman of Richemont North America and a Director of Peter Millar LLC, positions that he will retain following the 2021 AGM.

In addition, Non-executive Directors Jan Rupert and Ruggero Magnoni have indicated that they will not seek re-election at the 2022 AGM, allowing time for an orderly handover with their successors on the Strategic Security, Nominations and Audit Committees of the Board.

Regarding the board changes, Johann Rupert, Chairman of Richemont, commented:

“I would like to warmly thank Gary for his considerable contributions to the Group including the Board and the commitment and collegiality he has displayed over the years. His institutional knowledge and understanding of the issues faced by the Group have contributed enormously to Richemont’s continued success.

I am delighted to welcome Jasmine and Patrick to the Board. Both bring unrivalled experience and expertise in areas of great importance to the Group. I am certain that Jasmine’s focus on ESG and Patrick’s successful career in soft luxury will be invaluable as we embark on the next stage of our development.”

About Richemont

At Richemont, we craft the future. Our unique portfolio includes prestigious Maisons distinguished by their craftsmanship and creativity, alongside Online Distributors that cultivate expert curation and technological innovation to deliver the highest standards of service. Richemont’s ambition is to nurture its Maisons and businesses and enable them to grow and prosper in a responsible, sustainable manner over the long term.

Richemont operates in four business areas: Jewellery Maisons with Buccellati, Cartier and Van Cleef & Arpels; Specialist Watchmakers with A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis and Vacheron Constantin; Online Distributors with Watchfinder & Co., NET-A-PORTER, MR PORTER, THE OUTNET, YOOX and the OFS division; and Other, primarily Fashion & Accessories Maisons with Alaïa, AZ Factory, Chloé, Delvaux, dunhill, Montblanc, Peter Millar, Purdey and Serapian. Find out more at 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.

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; vdg@dynamicsgroup.ch 

Richemont announces the publication of its annual report and accounts for the year ended 31 March 2021. The report is available for download from the Richemont website at www.richemont.com/en/home/investors/results-reports-presentations/

Regarding the year under review, the report reflects the information contained in the Richemont annual results announcement issued on 21 May 2021, 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 parties who have requested it and may be also obtained from the Company’s registered office at the address below or by contacting the Company via the website at www.richemont.com/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

At Richemont, we craft the future. Our unique portfolio includes prestigious Maisons distinguished by their craftsmanship and creativity, alongside Online Distributors that cultivate expert curation and technological innovation to deliver the highest standards of service. Richemont’s ambition is to nurture its Maisons and businesses and enable them to grow and prosper in a responsible, sustainable manner over the long term.

Richemont operates in four business areas: Jewellery Maisons with Buccellati, Cartier and Van Cleef & Arpels; Specialist Watchmakers with A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis and Vacheron Constantin; Online Distributors with Watchfinder & Co., NET-A-PORTER, MR PORTER, THE OUTNET, YOOX and the OFS division; and Other, primarily Fashion & Accessories Maisons with Alaïa, AZ Factory, Chloé, Delvaux, dunhill, Montblanc, Peter Millar, Purdey and Serapian. Find out more at 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.

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

Highlights

Compared to the first quarter ended 30 June 2020:

• Strong start to the financial year with Group sales up by 129% at constant exchange rates and 121% at actual exchange rates
• Sales up by triple digits in almost all regions, channels and business areas, confirming the enduring appeal of the Group’s Maisons
• Outstanding performance of the Jewellery Maisons and the Specialist Watchmakers, with sales growth of 142% and 143%, respectively, at constant exchanges rates, and 132% and 136%, respectively, at actual exchange rates
• Strong sequential improvement compared to the quarter ended 31 March 2021

Compared to the first quarter ended 30 June 2019:

• Sales up by 22% at constant exchange rates and by 18% at actual exchange rates, exceeding pre-pandemic levels in most business areas, channels and regions
• Solid double-digit sales increases in the Americas, Asia Pacific and Middle East and Africa
• Robust double-digit sales growth in online and offline retail sales (73% of Group sales)
• Performance led by the Jewellery Maisons (+43% and +38% at constant and actual rates)

The Board of Directors approves changes to the Board and Senior Executive Committee to support the strong, sustainable development of its Maisons and businesses

Review of trading in the three-month period ended 30 June 2021 versus the prior year, at constant exchange rates

Versus the prior year period, which was severely affected by the pandemic, all regions, channels and business areas saw sales progress at triple digit rates, with the exception of Asia Pacific, Online Distributors and online retail where sales grew by double digits.

The 129% increase in sales was led by the Jewellery Maisons and Specialist Watchmakers with growth of 142% and 143%, respectively. The Other business area, mostly composed of our Fashion & Accessories Maisons, also performed strongly, recording 124% sales growth.

The Americas generated the strongest regional performance, with sales increasing by 276% driven by strong local demand, followed by the Middle East and Africa with sales up by 154%. Wholesale and retail led channel growth, with sales progression of 178% and 138%, respectively.

Given the magnitude of the impact of the pandemic on our operations in the three-month period ended 30 June 2020, additional comments compared to the three-month period ended 30 June 2019 are provided below for a more comprehensive view of our current trading.

Review of trading in the three-month period ended 30 June 2021 versus the three-month period ended 30 June 2019, at constant exchange rates

In the period under review, sales exceeded pre-Covid levels. Sales growth of 22% was driven by strong double-digit increases in the Americas, Asia Pacific and the Middle East and Africa. Sales in Europe contracted by 15%, as robust demand from local clientele could not offset the halt in tourist sales. In Asia Pacific, sales increased by 40%, with good momentum across most markets, particularly in mainland China, Macau SAR (China) and South Korea. In the Americas, sales rose by 47%, supported by buoyant domestic demand and thriving retail sales. Sales in Japan declined by 14%, due to renewed public health protection measures and a halt in tourism. The Middle East and Africa posted the strongest regional performance with 55% sales growth, reflecting solid domestic and tourist spending, notably in Dubai and Saudi Arabia.

The online and offline retail channels recorded strong double-digit sales growth. Retail sales, up by 35%, delivered the strongest relative channel performance, supported by double-digit growth at the Jewellery Maisons and Specialist Watchmakers. Retail sales were particularly strong in the US, Russia and Saudi Arabia. Online retail sales rose by 29%, with sustained demand across regions. Sales in the wholesale channel were 3% lower, notwithstanding notably higher sales in the US and Russia.

Sales growth of 43% at the Jewellery Maisons was driven by both strong jewellery and watch sales at Cartier and Van Cleef & Arpels. Sales progressed in most regions and across all channels. The Specialist Watchmakers’ sales increased by 6%, driven by online and offline retail sales and growth in most regions. At the Online Distributors, sales grew by 8%, and Gross Merchandise Value (GMV) increased by 9%. The Group’s Other business area recorded a 7% decline in sales, partly reflecting persistent challenges in the wholesale channel, particularly in travel retail.

The Group’s net cash position at 30 June 2021 was € 3.6 billion (2020: € 1.8 billion), reflecting strong trading.

Board of Directors and Senior Executive Committee

The Nominations Committee and Board of Compagnie Financière Richemont (the ‘Company’) have undertaken a review of the Group’s governance model in light of the ongoing pandemic and the continued acceleration of ‘new retail’.

To further capitalise on our Group’s agility and momentum, the Senior Executive Committee will focus solely on strategic direction, capital allocation, governance, and the provision of central and regional functions for the benefit of our Maisons and businesses. Similarly, the executives in charge of our Maisons and businesses will focus exclusively on the sustainable development of their respective entities, ensuring a customer-centric approach and the continued success of digital initiatives.

Taking these revised responsibilities into account, Cyrille Vigneron, President & Chief Executive of Cartier, and Nicolas Bos, President & Chief Executive of Van Cleef & Arpels, will step down from the Senior Executive Committee and will not seek re-election to the Board of Directors at the Group’s Annual General Meeting (‘AGM’) on 8 September 2021. They will continue to report directly to Johann Rupert, Chairman.

Philippe Fortunato, CEO of Fashion and Accessories, Emmanuel Perrin, Head of Specialist Watchmakers Distribution, and Frank Vivier, Chief Transformation Officer will step down from the Senior Executive Committee. They will continue to report to Jérôme Lambert, Group Chief Executive Officer.

Johann Rupert, Jérôme Lambert and Burkhart Grund, Chief Finance Officer, will remain on the Senior Executive Committee and will stand for re-election to the Board of Directors at the AGM.

These changes will take effect 8 September 2021.

In addition, Alan Quasha, Non-executive Director of the Company and its predecessor companies since the Group’s foundation in 1988, has indicated that he will not seek re-election to the Board of Directors in September.

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

“The continual evolution of our corporate governance structures reflects our commitment to meet the changing demands of our operating environment most efficiently and align with best practice. While the enlarged SEC structure proved effective in the early stages of our transformation journey and in navigating one of the most trying times in recent history, the time is ripe for a more streamlined structure as we embark on the next stage of our development. The outstanding development of Cartier and Van Cleef & Arpels, in particular, means that these businesses have reached a size and scale that require the full attention of their leaders and support of the Group to continue on their remarkable trajectory.

Throughout the pandemic, agility and well-informed rapid decision making have been essential. Decisions must be made as close as possible to customers. These governance changes will allow Maison and business executives to focus exclusively on their customers, colleagues, partners and the sustainable development of their entities at a time when the world is changing rapidly and growing in complexity.

I am grateful to be able to rely on the deep experience and expertise of Cyrille, Nicolas, Philippe, Emmanuel and Frank as well as their strong sense of collegiality. Finally, I would like to thank Alan Quasha for his valued contributions over the past 33 years. We have benefited from his broad understanding of the Group, and his astute perspectives will be missed”.

About Richemont

At Richemont, we craft the future. Our unique portfolio includes prestigious Maisons distinguished by their craftsmanship and creativity, alongside Online Distributors that cultivate expert curation and technological innovation to deliver the highest standards of service. Richemont’s ambition is to nurture its Maisons and businesses and enable them to grow and prosper in a responsible, sustainable manner over the long term.

Richemont operates in four business areas: Jewellery Maisons with Buccellati, Cartier and Van Cleef & Arpels; Specialist Watchmakers with A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis and Vacheron Constantin; Online Distributors with Watchfinder & Co., NET-A-PORTER, MR PORTER, THE OUTNET, YOOX and the OFS division; and Other, primarily Fashion & Accessories Maisons with Alaïa, AZ Factory, Chloé, Delvaux, dunhill, Montblanc, Peter Millar, Purdey and Serapian. Find out more at 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.

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

Disclaimer

The financial information contained in this announcement is unaudited.

This document contains forward-looking statements as that term is defined in the United States Private Securities Litigation Reform Act of 1995. Such forward-looking statements are not guarantees of future performance. Richemont's forward-looking statements are based on management's current expectations and assumptions regarding the Company's business and performance, the economy and other future conditions and forecasts of future events, circumstances and results. Our retail stores are heavily dependent on the ability and desire of consumers to travel and shop and a decline in consumer traffic could have a negative effect on our comparable store sales and/or average sales per square foot and store profitability resulting in impairment charges, which could have a material adverse effect on our business, results of operations and financial condition. Reduced travel resulting from economic conditions, retail store closure orders of civil authorities, travel restrictions, travel concerns and other circumstances, including disease epidemics and other health-related concerns, could have a material adverse effect on us, particularly if such events impact our customers' desire to travel to our retail stores.

As with any projection or forecast, forward-looking statements are inherently susceptible to uncertainty and changes in circumstances. 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 does not undertake to update, nor does it have any obligation to provide updates of or to revise, any forward-looking statements.

Appendix 1:

Foreign exchange rates

Actual exchange rates for the period are calculated using the average daily closing rates against the euro.

In terms of sales at constant exchange rates, average exchange rates for the year ended 31 March 2021 are used to convert local currency sales into euros for the current three-month period and comparative figures. Exchange rate translation effects are thereby eliminated from the reported sales performance.

Richemont announces the publication of its sustainability report for the year ended 31 March 2021.

This year, the Group has reported strong progress across the main focus areas of its Transformational CSR Strategy, in alignment with the UN’s Sustainable Development Goals. For the first time, the report has been verified by Ernst & Young (EY) and incorporates a new chapter dedicated to the progress of individual Maisons and regions, highlighting innovative sustainability initiatives and key developments across the Group.

Richemont has a long-standing commitment to doing business responsibly and, as such, has submitted its proposed targets to the Science-Based Target initiative (SBTi), in line with the 2015 Paris Agreement. At the date of this report’s publication, the SBTi has not concluded its evaluation and the Group’s targets are therefore subject to revision.

Through these and many other innovative measures, the Group recognises the need for continual improvement across its main focus areas – People, Communities, Sourcing and Environment – embodied in Richemont’s Movement for Better Luxury, to create benefits for all. Acknowledging that there is always more to do regarding corporate and industry-wide sustainability efforts, Richemont strives to improve each year. At Richemont, we craft the future.

The report is available for download at www.richemont.com/en/home/sustainability/reporting-centre/.

About Richemont

At Richemont, we craft the future. Our unique portfolio includes prestigious Maisons distinguished by their craftsmanship and creativity, alongside Online Distributors that cultivate expert curation and technological innovation to deliver the highest standards of service. Richemont’s ambition is to nurture its Maisons and businesses and enable them to grow and prosper in a responsible, sustainable manner over the long term.

Richemont operates in four business areas: Jewellery Maisons with Buccellati, Cartier and Van Cleef & Arpels; Specialist Watchmakers with A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis and Vacheron Constantin; Online Distributors with Watchfinder & Co., NET-A-PORTER, MR PORTER, THE OUTNET, YOOX and the OFS division; and Other, primarily Fashion & Accessories Maisons with Alaïa, AZ Factory, Chloé, Delvaux, dunhill, Montblanc, Peter Millar, Purdey and Serapian. Find out more at 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.

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 is pleased to announce that it has acquired 100% of Delvaux, the renowned Belgian luxury leather goods Maison, in a private transaction.

Established nearly two centuries ago in 1829, Delvaux is the oldest luxury leather goods Maison in the world. It has a unique heritage, expressed through the richness of its archives, and distinguishes itself through its exceptional savoir faire and creativity. In 1908, Delvaux was the first to file an official patent for a leather handbag and can thus be called the inventor of the modern luxury handbag.

Delvaux’s leather pieces are crafted by skilled artisans in its workshops across Belgium and France, and mostly sold across a highly qualitative network of 50 boutiques worldwide. Richemont’s acquisition will position Delvaux for its next stage of development, by enabling Delvaux to leverage the Group’s global presence and digital capabilities, to develop its omnichannel opportunities and customer engagement.

Philippe Fortunato, CEO of Fashion & Accessories Maisons, commented:

“Delvaux is an authentic European luxury leather goods Maison with strong heritage, distinctive savoir faire and exceptional manufacturing capabilities. The Maison’s rich archives and creative momentum over the last 10 years represent a solid foundation from which to grow the company for the long term, strengthening Richemont’s presence at the pinnacle of the leather goods category. We are delighted to welcome Delvaux’s management and teams to Richemont, and look forward to working closely with them to enable the Maison to reach its full potential under the Group’s stewardship.”

The transaction has no material financial impact on Richemont’s consolidated net assets or operating result for the year ending 31 March 2022. The results of Delvaux will be reported under the ‘Other’ business area.

About Richemont

At Richemont, we craft the future. Our unique portfolio includes prestigious Maisons distinguished by their craftsmanship and creativity, alongside Online Distributors that cultivate expert curation and technological innovation to deliver the highest standards of service. Richemont’s ambition is to nurture its Maisons and businesses and enable them to grow and prosper in a responsible, sustainable manner over the long term.

Richemont operates in four business areas: Jewellery Maisons with Buccellati, Cartier and Van Cleef & Arpels; Specialist Watchmakers with A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis and Vacheron Constantin; Online Distributors with Watchfinder & Co., NET-A-PORTER, MR PORTER, YOOX, THE OUTNET and the OFS division; and Other, primarily Fashion & Accessories Maisons with Alaïa, AZ Factory, Chloé, dunhill, Montblanc, Peter Millar, Purdey and Serapian. Find out more at 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.

About Delvaux

Combining creativity and savoir-faire, Delvaux has been crafting timeless leather designs since 1829. Founded in Brussels by Charles Delvaux, its elegant, innovative bags have always offered both freedom and femininity.
Poetic expressions of emotion and craftsmanship, Delvaux’s designs are handmade by artisans who have handed their skills down from generation to generation. Sculptural lines and sensual leathers have long defined La Maison’s creations, instantly recognizable by their quality, sophistication and attention to detail.

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 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

*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

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.

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.

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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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.

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.

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

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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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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).

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.