DOCSLIB.ORG

Annual Report and Accounts 2013 25 Years

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Annual Report and Accounts 2013 25 Years Richemont Annual Annual Report and Accounts 2013 Report and 25 years Accounts 2013 RIC01_010 | Richemont Annual Report 2013 | Sign-off proof 3 | 29/05/2013 Richemont is one of the world’s leading luxury goods groups. The Group’s luxury goods interests encompass some of the most prestigious names in the industry, including Cartier, Van Cleef & Arpels, Piaget, Vacheron Constantin, Jaeger-LeCoultre, IWC, Alfred Dunhill, Montblanc and Net-a-Porter. Each of Our Maisons™ represents a proud tradition of style, quality and craftsmanship which Richemont is committed to preserving. 1 Financial and operating highlights 32 Regional & Central Support 34 Financial review 2 Chairman’s review A detailed commentary on the Group’s financial performance 4 Richemont’s 25th anniversary 40 Corporate responsibility 7 Business review 7 Jewellery Maisons 41 Peace Parks Foundation 8 Cartier 10 Van Cleef & Arpels 42 Laureus 11 Specialist Watchmakers 43 Corporate governance 12 A. Lange & Söhne 47 Board of Directors 13 Baume & Mercier 54 Group Management Committee 14 IWC Schaffhausen 15 Jaeger-LeCoultre 61 Consolidated financial statements 16 Officine Panerai 17 Piaget 120 Company financial statements 18 Ralph Lauren Watch and Jewelry 19 Roger Dubuis 125 Five year record 20 Vacheron Constantin 21 Montblanc Maison 127 Statutory information 22 Montblanc 128 Notice of meeting 23 Other Businesses 24 Alfred Dunhill 25 Azzedine Alaïa 26 Chloé 27 Lancel 28 Net-a-Porter 29 Peter Millar 30 Purdey 31 Shanghai Tang 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 does not undertake to update, nor does it have any obligation to provide updates or to revise, any forward-looking statements. RIC01_010 | Richemont Annual Report 2013 | Sign-off proof 3 | 29/05/2013 Financial and operating highlights Group sales (€ m) Sales by business area (% of Group) 2013 10 150 2013 2012* 8 868 51 % Jewellery Maisons 2011 6 892 27 % Specialist Watchmakers 8 % Montblanc Maison 14 % Other Businesses Operating profit (€ m) Jewellery Maisons (€ m) 2013 2 426 2013 5 206 2012* 2 048 2012 4 590 2011 1 355 2011 3 479 Earnings per share, diluted basis (€) Specialist Watchmakers (€ m) 2013 3.595 2013 2 752 2012 2.756 2012 2 323 2011 1.925 2011 1 774 Dividend per share Montblanc Maison (€ m) 2013 CHF 1.00 2013 766 2012 CHF 0.55 2012 723 2011 CHF 0.45 2011 672 Other Businesses (€ m) 2013 1 426 2012* 1 232 2011 967 • Sales increased by 14 % to € 10 150 million and by 9 % on a constant basis • Solid growth across segments, regions and channels • Operating profit increased by 18 % to € 2 426 million • Operating margin gained 80 basis points to reach 24 % • Profit for the year rose by 30 % to € 2 005 million • Cash flow from operations of € 1 944 million • Proposed dividend of CHF 1.00 per share * Re-presented Richemont Annual Report and Accounts 2013 1 RIC01_010 | Richemont Annual Report 2013 | Sign-off proof 4 | 06/06/2013 Chairman’s review Johann Rupert, Chairman Overview of results The Group also acquired Peter Millar LLC, a US-based We are pleased to report that Richemont has achieved international apparel business and a retail investment solid sales growth across all segments, geographic property in New York: that property is independent regions and channels during the year. from Richemont’s property fund. These acquisitions complement the Group’s long-term investment plans. The Jewellery Maisons and the Specialist Watchmakers The year under review saw capital investment of have reported remarkable growth in sales and profits, € 612 million, primarily in manufacturing facilities despite the continuing strength of the Swiss franc and and boutiques. historically high cost of precious metals and stones. Among our other Maisons, Net-a-Porter continues to Dividend enjoy sales growth above the Group average. Based upon the good results for the year, the Board has Montblanc and the Fashion and Accessories Maisons proposed a dividend of CHF 1.00 per share. grew in the mid-single digits, reflecting challenging 25 years conditions in their major markets. On the following pages, we present a summarised The Group’s operating profit was 18 % higher than the history of Richemont’s first 25 years. As custodians of prior year. The net profit increase of 30 % was largely investors’ capital and trust, your Board has prudently achieved due to the non-recurrence of non-cash charges developed its initial businesses, acquired others, and, related to the strengthening of the Swiss franc in the when the time was right, disposed of businesses and previous year. exited from certain industries. Looking back, it has been a journey of growth and transformation. At the These performances reflect the commitment and time, it felt like a marathon of successive sprints. efforts of all our colleagues, the strength of our Maisons and the efficiencies provided by the Group’s Over this period, the Richemont share price, adjusted shared service platforms. for share splits and the 2008 reorganisation, increased from CHF 2.20 on 12 October 1988 to CHF 74.50 on Business developments 31 March 2013. Moreover, the 2008 reorganisation saw The Business Review presented on pages 7 to 33 describes the distribution of shares in Reinet Investments SCA the year’s developments in each of our Maisons. and British American Tobacco PLC, both publicly- Recognising their potential for organic growth, we traded companies, to Richemont’s investors. Taking continue to invest in their production, marketing and into account the relevant value of the three shares held distribution and the fruits of those investments are at 31 March 2013 and the respective dividends paid out reflected in the results. In parallel, Richemont is also by each of them to a founding Richemont investor, total investing in the shared service platforms which support shareholder returns amounted to CHF 120.38 from our Maisons around the world, and in its specialist an initial investment of CHF 5.10 in 1988. This equates functions such as legal, IT and financial services. to an internal rate of return of 15.3 % in Swiss franc- Operating ‘behind the scenes’, these local platforms and terms or 24.1 % in South African rand-terms. global functions enable our Maisons to improve customer service, for example through better product availability Richemont’s history does not end here, but we can and shorter delivery times. draw breath, look back and take stock of what we have achieved for our investors. However, our quarter- During the year, a number of business acquisitions century history simply pales when compared to our were completed, amounting to € 474 million in total. Maisons and their combined history of more than two Richemont acquired Varin-Etampage & Varinor millennia. For example, Vacheron Constantin alone (‘VV SA’), a Swiss manufacturer of precious metal has been in continuous production for more than products for the watch and jewellery industry, and 250 years, ever faithful to its founder’s motto, Antica Ditta Marchisio SpA, an Italian company “do better if possible, and that is always possible”. specialising in the production of hand-crafted jewellery. 2 Richemont Annual Report and Accounts 2013 Chairman’s review RIC01_010 | Richemont Annual Report 2013 | Sign-off proof 4 | 06/06/2013 RIC01_010 | Richemont Annual Report 2013 | Sign-off proof 4 | 06/06/2013 Annual General Meeting In May 2013, Ms Martha Wikstrom resigned from her Your Board has noted that certain shareholders did not role as Chief Executive Officer of Richemont Fashion exercise their voting rights at last year’s Annual and Accessories. She will serve as a non-executive General Meeting (‘AGM’) due to ‘share blocking’ director until the AGM. A member of the Board since requirements. These require Richemont’s bearer shares 2005, the other directors warmly thank her for to be blocked in the days prior to the general meeting. positioning our fashion and accessories businesses for In line with changes introduced by other leading Swiss prosperous growth. companies, at this year’s AGM your Board will A number of changes to the Group Management propose amendments to the Company’s Articles of Committee took place during the year, reflecting Incorporation to move from ‘A’ bearer shares to changing roles both inside and outside the Group. ‘A’ registered shares. Accordingly, the SIX Swiss Your Board thanks again those who no longer serve on Exchange-traded shares shall be defined as ‘A’ the Committee, those who continue to serve, and those registered shares. They will enjoy the same rights as who joined the Committee in November 2012. Further the ‘A’ bearer shares, including dividend and voting details of these changes may be found on pages 52, 54 rights. ‘Share blocking’ requirements will disappear and 55. and be replaced by a record date for voting at subsequent AGMs. Peace Parks Foundation and Laureus On pages 41 and 42, you may read about the commendable Our shareholders will be asked to approve the 2013 work of the Peace Parks Foundation and the Laureus compensation report in a non-binding vote. Your Sport for Good Foundation (‘Laureus’). In less than 20 Board has listened to the issues raised last year by years, the Peace Parks Foundation has created and certain investors and, through additional disclosures continues to protect a network of vast ecosystems that on pages 53 to 60, has sought to resolve many of those traverse Southern Africa’s political borders.
Load more

Recommended publications
  • Annual Report and Accounts 2013 25 Years
    Richemont Annual Annual Report and Accounts 2013 Report and 25 years Accounts 2013 WorldReginfo - 3a56fe0c-e3fd-4768-ac4f-cd638d19fa7e RIC01_010 | Richemont Annual Report 2013 | Sign-off proof 3 | 29/05/2013 Richemont is one of the world’s leading luxury goods groups. The Group’s luxury goods interests encompass some of the most prestigious names in the industry, including Cartier, Van Cleef & Arpels, Piaget, Vacheron Constantin, Jaeger-LeCoultre, IWC, Alfred Dunhill, Montblanc and Net-a-Porter. Each of Our Maisons™ represents a proud tradition of style, quality and craftsmanship which Richemont is committed to preserving. 1 Financial and operating highlights 32 Regional & Central Support 34 Financial review 2 Chairman’s review A detailed commentary on the Group’s financial performance 4 Richemont’s 25th anniversary 40 Corporate responsibility 7 Business review 7 Jewellery Maisons 41 Peace Parks Foundation 8 Cartier 10 Van Cleef & Arpels 42 Laureus 11 Specialist Watchmakers 43 Corporate governance 12 A. Lange & Söhne 47 Board of Directors 13 Baume & Mercier 54 Group Management Committee 14 IWC Schaffhausen 15 Jaeger-LeCoultre 61 Consolidated financial statements 16 Officine Panerai 17 Piaget 120 Company financial statements 18 Ralph Lauren Watch and Jewelry 19 Roger Dubuis 125 Five year record 20 Vacheron Constantin 21 Montblanc Maison 127 Statutory information 22 Montblanc 128 Notice of meeting 23 Other Businesses 24 Alfred Dunhill 25 Azzedine Alaïa 26 Chloé 27 Lancel 28 Net-a-Porter 29 Peter Millar 30 Purdey 31 Shanghai Tang 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.
    [Show full text]
  • Annual Report and Accounts 2010
    Richemont Annual Report and Accounts 2010 Annual Report and Accounts 2010 www.richemont.com Richemont is one of the world’s leading luxury goods groups. The Group’s luxury goods interests encompass several of the most prestigious names in the industry, including Cartier, Van Cleef & Arpels, Piaget, Vacheron Constantin, Jaeger-LeCoultre, IWC, Alfred Dunhill and Montblanc. Each of the Group’s Maisons® represents a proud tradition of style, quality and craftsmanship which Richemont is committed to preserving. 2 Executive Chairman and 20 Other Businesses Chief Executive Officer’s review 21 Alfred Dunhill Johann Rupert’s review of the year 22 Chloé 23 Lancel 4 Business review 24 Shanghai Tang 4 Jewellery Maisons 25 Azzedine Alaïa 5 Cartier 26 Purdey 7 Van Cleef & Arpels 27 Financial review 8 Specialist Watchmakers A detailed commentary on the Group’s 9IWC financial performance 10 Jaeger-LeCoultre 35 Corporate responsibility 11 Piaget 12 Vacheron Constantin 36 Peace Parks Foundation 13 Officine Panerai 14 Baume & Mercier 38 Corporate governance 15 A. Lange & Söhne 42 Board of directors 16 Roger Dubuis 46 Group Management Committee 17 Ralph Lauren Watches 18 Writing Instrument Maison 53 Consolidated financial statements 19 Montblanc 108 Company financial statements 113 Five year record 115 Statutory information Designed and produced by Likemind www.likemind.com 116 Notice of meeting Printed in South Africa by Shumani Printers (Pty) Ltd. The cover stock of this report is Trucard Recycled Matt, made from 50% virgin fibre (100% ECF) and 50% recycled pulp from de-inked postconsumer waste and is FSC certified. The text paper in this report is Sappi Triple Green Silk.
    [Show full text]
  • Annual Report and Accounts 2014
    Richemont Annual 2014 Accounts and Report Richemont Annual Report and Accounts 2014 RIC05_005 | Richemont Annual Report 2014 | Sign-off proof 2 | 28/05/2014 Richemont is one of the world’s leading luxury goods groups. The Group’s luxury goods interests encompass some of the most prestigious names in the industry, including Cartier, Van Cleef & Arpels, Piaget, Vacheron Constantin, Jaeger-LeCoultre, IWC, Alfred Dunhill, Montblanc and Net-a-Porter. Each of Our Maisons™ represents a proud tradition of style, quality and craftsmanship which Richemont is committed to preserving. 1 Financial and operating highlights 30 Regional & Central Support 32 Financial review 2 Chairman’s review 38 Corporate social responsibility 4 Business review 4 Jewellery Maisons 39 Peace Parks Foundation 5 Cartier 7 Van Cleef & Arpels 40 Laureus 8 Specialist Watchmakers 41 Corporate governance 9 A. Lange & Söhne 45 Board of Directors 10 Baume & Mercier 52 Group Management Committee 11 IWC Schaffhausen 12 Jaeger-LeCoultre 61 Consolidated financial statements 13 Officine Panerai 14 Piaget 116 Company financial statements 15 Ralph Lauren Watch and Jewelry 16 Roger Dubuis 121 Five year record 17 Vacheron Constantin 18 Montblanc Maison 123 Statutory information 19 Montblanc 124 Notice of meeting 20 Other Businesses 21 Alaïa 22 Alfred Dunhill 23 Chloé 24 Giampiero Bodino 25 Lancel 26 Net-a-Porter 27 Peter Millar 28 Purdey 29 Shanghai Tang 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.
    [Show full text]
  • Suisse : L’Expression- Sur L’Échange Une Identité Nisme Abstrait Automatique Voulue Américain D’Informations
    D GÉOPOLITIQUE IEUDONNÉ ET L'IRAN ( S ) 42 FINANCE 68 INVESTIR 90 INVITÉ MATIÈRE CAP SUR A. ZIMMERMANN REDEVIENT L'EUROPE DE CEO DE BAUME PREMIÈRE L'EST & MERCIER 58 FISCALITÉ 80 CULTURE(S) 100 MARchÉ DE L’ART RETOUR SUISSE : l’EXPRESSION- SUR L’ÉCHANGE UNE IDENTITÉ NISME ABSTRAIT AUTomATIQUE VOULUE AMÉRICAIN D’INfoRMATIONS DOSSIER MADE IN HELVETIA AV EC OSKAR FREYSINGER, ISABELLE MORET, OLIVIER MEUWLy… 8 CHF 10 11 13 15 17 19 20 14 12 16 18 9 771661 934966 9 771661 934966 9 771661 934966 9 771661 934966 9 771661 934966 9 771661 934966 9 771661 934966 9 771661 934966 9 771661 934966 9 771661 934966 9 771661 934966 Mon prénom: Thomas Ma profession: Entrepreneur Mon rêve: Que ma fi lle prenne les rênes de l ’entreprise Ma banque privée: Julius Baer, parce q u ’elle me prodigue également de précieux conseils q uant à la plani- fi cation de succession ma Conseil en placement · Gestion de fortune · Planifi cation de la prévoyance · Planifi cation fi scale · Financement immobilier www.juliusbaer.ch Julius Baer dispose aujourd’hui d’un réseau de 15 succursales en Suisse – Ascona, Bâle, Berne, Crans-Montana, Genève, Kreuzlingen, Lausanne, Lucerne, Lugano, Saint-Gall, Saint-Moritz, Sion, Verbier, Zoug et Zurich (siège principal). 140122_Thomas_Switzerland_Market_Magazine_210x280_RA_f.indd 1 22.01.14 09:42 ENTRE LES LIGNES Mon prénom: Thomas Entrepreneur Ma profession: prenne fi lle Mon rêve: Que ma de l ’ entreprise GABRIELLA WRIghT, les rênes QUE VOUS INSPIRE CETTE CITATION DE VINCENT CESPEDES : Ma banque privée: Julius Baer, qu’elle me prodigue « LE BONHEUR : IDENTITÉ NOMADE, parce S’IDENTIFIANT ET SE DÉSIDENTIFIANT AU GRÉ également de la précieux plani- DE NOS VAGABONDAGES INTIMES » q uant à conseils succession fi cation de ma Alain Delaporte-DigardAlain GABRIELLA WRIGHT* actrice, productrice et philanthrope « Il serait faux de croire que l’identité est et ce qu’on rencontre qui fait de n’existe que de façon statique.
    [Show full text]
  • Annual Report and Accounts 2017
    Annual Report and Accounts 2017 Richemont is one of the world’s leading luxury goods groups. The Group’s luxury goods interests encompass some of the most prestigious names in the industry, including Cartier, Van Cleef & Arpels, Piaget, Vacheron Constantin, Jaeger-LeCoultre, IWC, and Montblanc. Each of Our Maisons™ represents a proud tradition of style, quality and craftsmanship which Richemont is committed to preserving. 1 Financial and operating highlights 36 Peace Parks Foundation 2 Chairman’s review 37 Laureus 4 Business review 38 Board of Directors 4 Jewellery Maisons 5 Cartier 43 Corporate governance 7 Van Cleef & Arpels 8 Specialist Watchmakers 51 Compensation report 9 A. Lange & Söhne 10 Baume & Mercier 11 IWC Schaffhausen 63 Consolidated financial statements 12 Jaeger-LeCoultre 13 Officine Panerai 124 Company financial statements 14 Piaget 15 Roger Dubuis 16 Vacheron Constantin 132 Five year record 17 Other Businesses 18 Alaïa 134 Statutory information 19 Alfred Dunhill 20 Chloé 135 Notice of meeting 21 Lancel 22 Montblanc 23 Peter Millar 24 Purdey 25 Shanghai Tang 26 Regional & Central Support 29 Financial review 34 Corporate social responsibility 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.
    [Show full text]
  • Annual Report and Accounts 2011
    Richemont Annual Annual Report and Accounts 2011 Report and Accounts 2011 RIC01_002 | Richemont Annual Report 2011 | Sign-off proof 2 | 27/05/2011 Richemont is one of the world’s leading luxury goods groups. The Group’s luxury goods interests encompass several of the most prestigious names in the industry, including Cartier, Van Cleef & Arpels, Piaget, Vacheron Constantin, Jaeger-LeCoultre, IWC, Alfred Dunhill, Montblanc and NET-A-PORTER.COM Each of the Group’s Maisons® represents a proud tradition of style, quality and craftsmanship which Richemont is committed to preserving. 2 Executive Chairman and 28 Financial review Chief Executive Officer’s review A detailed commentary on the Group’s Johann Rupert’s review of the year financial performance 35 Corporate responsibility 4 Business review 4 Jewellery Maisons 36 Peace Parks Foundation 5 Cartier 7 Van Cleef & Arpels 38 Corporate governance 8 Specialist Watchmakers 42 Board of Directors 9 IWC 47 Group Management Committee 10 Jaeger-LeCoultre 11 Piaget 53 Consolidated financial statements 12 Vacheron Constantin 13 Officine Panerai 108 Company financial statements 14 Baume & Mercier 15 A. Lange & Söhne 113 Five year record 16 Roger Dubuis 17 Ralph Lauren Watches 115 Statutory information 18 Montblanc Maison 116 Notice of meeting 19 Montblanc 20 Other Businesses 21 Alfred Dunhill 22 Chloé 23 Lancel 24 Shanghai Tang 25 Azzedine Alaïa 26 Purdey 27 NET-A-PORTER.COM 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.
    [Show full text]
  • Annual Report and Accounts 2013 25 Years
    Richemont Annual Annual Report and Accounts 2013 Report and 25 years Accounts 2013 RIC01_010 | Richemont Annual Report 2013 | Sign-off proof 3 | 29/05/2013 Richemont is one of the world’s leading luxury goods groups. The Group’s luxury goods interests encompass some of the most prestigious names in the industry, including Cartier, Van Cleef & Arpels, Piaget, Vacheron Constantin, Jaeger-LeCoultre, IWC, Alfred Dunhill, Montblanc and Net-a-Porter. Each of Our Maisons™ represents a proud tradition of style, quality and craftsmanship which Richemont is committed to preserving. 1 Financial and operating highlights 32 Regional & Central Support 34 Financial review 2 Chairman’s review A detailed commentary on the Group’s financial performance 4 Richemont’s 25th anniversary 40 Corporate responsibility 7 Business review 7 Jewellery Maisons 41 Peace Parks Foundation 8 Cartier 10 Van Cleef & Arpels 42 Laureus 11 Specialist Watchmakers 43 Corporate governance 12 A. Lange & Söhne 47 Board of Directors 13 Baume & Mercier 54 Group Management Committee 14 IWC Schaffhausen 15 Jaeger-LeCoultre 61 Consolidated financial statements 16 Officine Panerai 17 Piaget 120 Company financial statements 18 Ralph Lauren Watch and Jewelry 19 Roger Dubuis 125 Five year record 20 Vacheron Constantin 21 Montblanc Maison 127 Statutory information 22 Montblanc 128 Notice of meeting 23 Other Businesses 24 Alfred Dunhill 25 Azzedine Alaïa 26 Chloé 27 Lancel 28 Net-a-Porter 29 Peter Millar 30 Purdey 31 Shanghai Tang 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.
    [Show full text]
  • Jewellery Maisons
    Jewellery Maisons Key results Sales (€ m) Operating profit (€ m) Percentage of Group sales -HZHOOHU\0DLVRQV Richemont’s Maisons 4 Richemont Annual Report and Accounts 2016 Business review Founded in 1847, Cartier is not only one of the most established names in the world of Jewellery and Watches, it is also the reference of true and timeless luxury. Driven by a constant quest for excellence in design, innovation and expertise, Cartier has successfully managed over the years to establish itself as a leader not only in jewellery but as a global luxury Maison. Étourdissant Cartier, the latest High Jewellery Cartier sunglasses. Leather goods were also collection exclusively presented on the French expanded with the C de Cartier collection, which Riviera before touring the world; notably in proposes women’s handbags in a multitude of Singapore where it was shown at the inauguration colours inspired by fine gemstones. of a new fine arts museum, the Pinacothèque de Paris. Composed of some one hundred colourful Cartier’s ability to showcase all of its creations in creations, this collection was very well received. its own retail environment has been, more than Other jewellery selections during the year included ever, at the centre of the Maison’s priorities. new pieces which continue to explore the creative Several new boutiques were opened during the universes of the Amulette de Cartier collection and year, including Shin Kong Place in Beijing and the Paris Nouvelle Vague collection, inspired by Iguatemi in São Paolo, then to Castlereagh Street the City of Light. in Sydney and Brisbane in Australia. In May 2015, the Champs-Elysées flagship boutique was At the 2016 Salon International de la Haute reopened following refurbishment.
    [Show full text]
  • Annual Report and Accounts 2016
    Annual Report and Accounts 2016 Richemont is one of the world’s leading luxury goods groups. The Group’s luxury goods interests encompass some of the most prestigious names in the industry, including Cartier, Van Cleef & Arpels, Piaget, Vacheron Constantin, Jaeger-LeCoultre, IWC, and Montblanc. Each of Our Maisons™ represents a proud tradition of style, quality and craftsmanship which Richemont is committed to preserving. 1 Financial and operating highlights 38 Peace Parks Foundation 2 Chairman’s review 39 Laureus 4 Business review 40 Board of Directors 4 Jewellery Maisons 5 Cartier 45 Corporate governance 7 Van Cleef & Arpels 8 Giampiero Bodino 53 Compensation report 9 Specialist Watchmakers 10 A. Lange & Söhne 11 Baume & Mercier 65 Consolidated financial statements 12 IWC Schaffhausen 13 Jaeger-LeCoultre 122 Company financial statements 14 Officine Panerai 15 Piaget 16 Ralph Lauren Watch & Jewelry 128 Five year record 17 Roger Dubuis 18 Vacheron Constantin 130 Statutory information 19 Other Businesses 20 Alaïa 131 Notice of meeting 21 Alfred Dunhill 22 Chloé 23 Lancel 24 Montblanc 25 Peter Millar 26 Purdey 27 Shanghai Tang 28 Regional & Central Support 30 Financial review 36 Corporate social responsibility 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.
    [Show full text]
  • Annual Report and Accounts 2012
    Richemont Annual Annual Report and Accounts 2012 Report and Accounts 2012 RIC01_005 | Richemont Annual Report 2012 | Sign-off proof 2 | 25/05/2012 Richemont is one of the world’s leading luxury goods groups. The Group’s luxury goods interests encompass some of the most prestigious names in the industry, including Cartier, Van Cleef & Arpels, Piaget, Vacheron Constantin, Jaeger-LeCoultre, IWC, Alfred Dunhill, Montblanc and Net-a-Porter. Each of Our Maisons™ represents a proud tradition of style, quality and craftsmanship which Richemont is committed to preserving. 1 Financial and operating highlights 28 Financial review A detailed commentary on the Group’s 2 Executive Chairman and financial performance Chief Executive Officer’s review 34 Corporate responsibility 4 Business review 35 Peace Parks Foundation 4 Jewellery Maisons 5 Cartier 38 Corporate governance 7 Van Cleef & Arpels 42 Board of Directors 8 Specialist Watchmakers 47 Group Management Committee 9 A. Lange & Söhne 10 Baume & Mercier 53 Consolidated financial statements 11 IWC 12 Jaeger-LeCoultre 108 Company financial statements 13 Officine Panerai 14 Piaget 113 Five year record 15 Ralph Lauren Watch & Jewelry 16 Roger Dubuis 115 Statutory information 17 Vacheron Constantin 116 Notice of meeting 18 Montblanc Maison 19 Montblanc 20 Other Businesses 21 Alfred Dunhill 22 Azzedine Alaïa 23 Chloé 24 Lancel 25 Net-a-Porter 26 Purdey 27 Shanghai Tang 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.
    [Show full text]
  • Glorydays Onholdas Salesstart Toloselustre
    FT SPECIAL REPORT Watches & Jewellery Monday January 21 2013 www.ft.com/reports | twitter.com/ftreports good news is that some of this slow- down may have been a temporary phenomenon linked to the political Inside » uncertainty surrounding the genera- tional transfer of power in China’s Swatch strategy Glory days Communist party, which was accom- panied by a number of scandals that Group’s purchase put a damper on the tradition of gift giving among China’s political of Harry Winston and business classes. will increase “It’s hard to say precisely how long presence in the US on hold as it will take for gift giving to come back, but it will,” says John Guy, Page 2 retail and luxury analyst at Berenberg Bank. “It’s very ingrained in the Chi- nese psyche. And even if business gift- The big launch ing remains subdued for a bit, other types of gifting will keep going. The Investment sees sales start wealthy uncle giving a Rolex as a wedding present won’t go away.” returns as Cartier Other observers are less optimistic secures its place about a bounceback in 2013, however. David Sadigh, chief executive of the as a heavyweight Digital Luxury Group, a consultancy Page 4 to lose lustre that works with a number of big watch groups, suggests that the SIHH preview ‘The wealthy uncle giving A selection of 16 a Rolex as a wedding timepieces set to A decline in gift giving in China may not be stun horolophiles present won’t go away,’ at Geneva show a temporary phenomenon and the next says a Berenberg analyst 12 months could be tough, writes James Shotter Page 5 anointment of Xi Jinping as China’s Secret boutiques n the face of it, 2012 was For alongside such headline suc- leader could lead to a more enduring another good year for cesses, 2012 also saw a number of decline in gift giving.
    [Show full text]
  • Annual Report and Accounts 2010
    Richemont Annual Report and Accounts 2010 Annual Report and Accounts 2010 www.richemont.com Richemont is one of the world’s leading luxury goods groups. The Group’s luxury goods interests encompass several of the most prestigious names in the industry, including Cartier, Van Cleef & Arpels, Piaget, Vacheron Constantin, Jaeger-LeCoultre, IWC, Alfred Dunhill and Montblanc. Each of the Group’s Maisons® represents a proud tradition of style, quality and craftsmanship which Richemont is committed to preserving. 2 Executive Chairman and 20 Other Businesses Chief Executive Officer’s review 21 Alfred Dunhill Johann Rupert’s review of the year 22 Chloé 23 Lancel 4 Business review 24 Shanghai Tang 4 Jewellery Maisons 25 Azzedine Alaïa 5 Cartier 26 Purdey 7 Van Cleef & Arpels 27 Financial review 8 Specialist Watchmakers A detailed commentary on the Group’s 9IWC financial performance 10 Jaeger-LeCoultre 35 Corporate responsibility 11 Piaget 12 Vacheron Constantin 36 Peace Parks Foundation 13 Officine Panerai 14 Baume & Mercier 38 Corporate governance 15 A. Lange & Söhne 42 Board of directors 16 Roger Dubuis 46 Group Management Committee 17 Ralph Lauren Watches 18 Writing Instrument Maison 53 Consolidated financial statements 19 Montblanc 108 Company financial statements 113 Five year record 115 Statutory information Designed and produced by Likemind www.likemind.com 116 Notice of meeting Printed in South Africa by Shumani Printers (Pty) Ltd. The cover stock of this report is Trucard Recycled Matt, made from 50% virgin fibre (100% ECF) and 50% recycled pulp from de-inked postconsumer waste and is FSC certified. The text paper in this report is Sappi Triple Green Silk.
    [Show full text]