Jewellery Maisons Key results Sales (€m) 2021 7 459 2020 7 217 Operating result (€m) 2021 2 309 2020 2 077 Percentage of Group sales 2021 Jewellery Maisons 57% Richemont’s Maisons 6 Richemont Annual Report and Accounts 2021 Business review 2021 Richemont divider pages.indd 6 27/07/2021 17:19 Buccellati is one of the most prestigious Italian jewellers, established in Milan in 1919. Its jewellery, silver pieces and watches are all characterised by a highly distinctive style inspired by Italian Renaissance art, combined with a Venetian ornate influence, all executed with a superior level of craftsmanship and engraving techniques. This unique identity, originally introduced by Mario Buccellati in jewellery and silverware, embodied precious fabrics, delicate damasks and Venetian laces and immediately obtained the admiration of royal families in Italy, Spain and Egypt, of Popes and Cardinals and of the famous poet Gabriele d’Annunzio, who coined the expression ‘Prince of Goldsmiths’. Throughout its 100 years of activity, Opera Tulle and other key Icona collections Buccellati has always strenuously defended its and produced the new episode of the Timeless unique and unmistakable style, based on Beauty advertising campaign, featuring ancient goldsmithing techniques, such as Beatrice Borromeo, who became the face of engraving and chiseling, expertly combined Buccellati. This year, Buccellati inaugurated with the use of yellow and white gold to obtain its new headquarters in a historical 2 000 unusual and extraordinary effects. square metre building in the centre of Milan, designed in 1919 by the famous architect, Richemont acquired Buccellati at the end of Piero Portaluppi. 2019 and, with Andrea Buccellati as honorary Buccellati boutique in Shanghai Pudong IFC Mall chairman and creative director and the help of Buccellati jewellery and silver items can be other family members, is securing the tradition admired and purchased in 50 boutiques, ­ In 2020, Buccellati continued its retail of the Maison. shop-in-shops and corners in the leading cities expansion with the opening of seven new of the world. A selection of over boutiques in London, Beijing, Shanghai, This was Buccellati’s first full year as part of 170 prestigious multi-brand jewellers and Chengdu, Hong Kong, and bought back the historical shop on Via dei Condotti in Rome. Richemont. This permitted Buccellati to make, exclusive department stores also present despite the pandemic, significant investments Buccellati jewellery and silver items. ­ The year was marked by the extension of One in product assortment extensions and to open of a Kind creations as well as variations in the new points of sale in London, Beijing, In the coming months, Buccellati will continue classic Opera Tulle and other key Icona Shanghai, Chengdu and Hong Kong. The its retail expansion with new stores in Seoul, jewellery and silver lines. investments in new points of sale included the Tokyo, Osaka, Nagoya, Taipei and in the US. reunification of the historical store on Via dei ­ The company produced a new episode of its Timeless Beauty advertising campaign with Condotti in Rome. Beatrice Borromeo, and inaugurated its new headquarters in a 2 000 square metre In 2020, Buccellati saw the introduction Gianluca Brozzetti historical building in the centre of Milan. of new creations in the One of a Kind, Chief Executive Established 1919 Via Lodovico Mancini 1, Milan, Italy Chief Executive Officer Gianluca Brozzetti Finance Director Aldo Beltrami www.buccellati.com Richemont Annual Report and Accounts 2021 7 Business review Richemont Annual Report 2021.pdf 7 27/07/2021 10:03 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. The Maison Cartier distinguishes itself by its mastery of all the unique skills and crafts used for the creation of a Cartier piece. Driven by a constant quest for excellence in design, innovation and expertise, the Maison has successfully managed over the years to stand in a unique and enviable position: that of a leader and pioneer in its field. In the last year that saw an unprecedented success at the Fondation Cartier pour l’art crisis and generated many changes, Cartier contemporain in Paris, the photo exhibition showed strength and resilience. ‘Claudia Andujar, the Yanomami struggle’ inaugurated an eight-year partnership with From a product perspective, the relaunch of the Triennale Milano. The Maison also iconic Pasha watch marked 2020. With its participated in the global coronavirus relief distinctive codes and striking design, it echoes effort through Cartier Philanthropy. Cartier to a whole new generation of successful also became increasingly involved in talents. Cartier also expressed its unlimited global biodiversity protection by partnering creativity in watchmaking with a new feminine with The Lion’s Share fund and establishing watch, Maillon, and new additions to the the Cartier for Nature fund to contribute Santos collection. to the preservation of biodiversity and healthy ecosystems. The new High Jewellery collection [Sur]naturel was digitally unveiled around the To pay tribute to its emblematic creations, world in July and physically revealed in Cartier began 2021 with its new campaign Shanghai in October. ‘The Culture of Design’, bringing together for the first time its icons – Santos, Tank, Cartier also introduced a new collection Trinity, Love, Juste un Clou, Panthère and Bond Street boutique, London of objects and accessories. From decoration Ballon Bleu. to writing, baby gifts and games, these signature collections express the welcoming In 2021, Cartier will unveil more than ­ Cartier launched a new version of Pasha, a cult watch in a more contemporary version. spirit of Cartier. 150 original and unique High Jewellery creations. In watches, the Maison will ­ The new High Jewellery collection, During the global health crisis, Cartier found continue to support emblematic designs with, [Sur]naturel revealed an innovative look at creative ways to engage with audiences for instance, the remodeled Tank Must with a nature, linking figuration with abstraction. through digital touchpoints. While continuing solar dial. to roll out the new boutique design concept, Cartier strengthened its e-commerce network Following the postponement of the Expo 2020 and further enhanced its collaboration with Dubai from October 2021 to March 2022, Alibaba’s Tmall Luxury Pavilion by enriching Cartier will present the Women’s Pavilion as a the offer and launching limited collections. tribute to women. The Maison continued to actively contribute to society. Cartier celebrated women social impact entrepreneurs at the Cartier Women’s Cyrille Vigneron Initiative’s digital awards ceremony. After its Chief Executive Established 1847 at 13 rue de la Paix, Paris, France Chief Executive Officer Cyrille Vigneron Finance Director François Lepercq www.cartier.com 8 Richemont Annual Report and Accounts 2021 Business review Richemont Annual Report 2021.pdf 8 27/07/2021 10:03 Created in 1906, Van Cleef & Arpels is a High Jewellery Maison embodying the values of creation, transmission and expertise. Each new jewellery and timepiece collection is inspired by the identity and heritage of the Maison and tells a story with a universal cultural background, a timeless meaning and which expresses a positive and poetic vision of life. Through its retail network, the Maison Human resources are at the heart of the continues to rely on a well-balanced activity Maison. Van Cleef & Arpels’ focus consists of geographically within its 140 stores building sustainable teams, reinforcing worldwide. In the past twelve months, the expertise, promoting the flexibility and Maison opened new locations in China, adaptability of its organisation, and ensuring finalised the internalisation of its network in that the vision, purpose and values of the Saudi Arabia, and renovated several boutiques, Maison are shared and understood at all levels. including its historical flagship on Place Specific attention is paid to support the Vendôme and its Prince’s Building store in development of e-commerce worldwide and Hong Kong. the Chinese market. To continue serving its clients from a distance In the year ahead, the Maison will strongly Van Cleef & Arpels on Place Vendôme, Paris despite the pandemic, Van Cleef & Arpels invest in its retail development, opening new significantly developed its omni-channel boutiques across China, the US, Korea and ­ The Maison dedicated the year to the floral celebration; focusing mainly on the Frivole capabilities, as well as its e-commerce Taiwan, China, as well as renovating, jewellery collection, and launched the Sous platforms, notably with Alibaba’s Tmall extending or relocating other stores, mainly in les étoiles High Jewellery collection. Luxury Pavilion flagship store in China. Asia. E-commerce development will also be critical in 2021, as the Maison plans to invest ­ The Maison accelerated its digital and In terms of products, the Maison dedicated the in Alibaba’s Tmall Luxury Pavilion flagship e-commerce network development on year to the floral celebration, with a major boutique in China while activating new existing platforms and opened an e-boutique focus on the Frivole collection. Van Cleef & platforms in Europe, Korea, Hong Kong SAR, on Alibaba’s Tmall Luxury Pavilion. Arpels supported High Jewellery through a China, Singapore, Australia and the programme on High Jewellery Signatures.