Innovation

Innovation is a key element to our approach to sustainability, particularly in terms of traceability and how we enhance the sustainability of our products and processes, and the employability of our people.

Richemont believes new technologies are a powerful tool to design new stories and products, to further develop the know-how of our craftsmen, and ultimately to let our Maisons’ clients and colleagues build new bonds and experience new emotions. For Richemont, innovation is how we nurture a creative ecosystem inside and outside the Group, in order to turn the best of technology into the best client experience. The Group is collaborating with several start-ups and technology leaders in domains such as embedded electronics, augmented reality, deep learning and recycled materials.

Over the past three years, Richemont has substantially strengthened its focus and effort in innovation, with the creation of a transversal team dedicated to supporting the strategies of our Maisons. The Richemont innovation team regroups some 60 highly technical profiles in various domains such as material sciences, tribology, reliability, data science, process optimisation and design thinking.

Together with our Maisons, this team focuses on continuously improving the quality, reliability and durability of our creations and making sure that our clients’ experience with our Maisons is consistently excellent and satisfying. This mission is at the core of Richemont’s strategy to invent the future of the luxury experience, using technology at the service of human emotions, creativity and know how. To succeed, Richemont Innovation nurtures a wide innovation network composed of internal entrepreneurs and experts, start-ups, research labs, and representatives from other industries.

Transparency and traceability are key elements in our transition towards more sustainable practices and products. The Group is following the development of several solutions, which could be applied in upstream and downstream supply chains. Technologies like advanced marking or physical or chemical fingerprinting are under investigation to bring more transparency on the flow of goods within our supply chains.

In addition to physical traceability, the Group sees an interest in the development of blockchain based initiatives, bringing more transparency to our customers about the origins of their products. In this still emerging field, our teams will take the required time to assess the solutions currently under development and make the best decision for our Maisons and our customers.