Edition:
India

Compagnie Financiere Richemont SA (CFR.S)

CFR.S on Virt-X Level 1

74.86CHF
20 Sep 2019
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Latest Key Developments (Source: Significant Developments)

Richemont Sees Alibaba JV Operational At End Of September
Wednesday, 11 Sep 2019 

Sept 11 (Reuters) - CFR chairman at AGM::BREXIT, GEOPOLITICAL TENSIONS HAVE POTENTIAL TO SIGNIFICANTLY HARM OUR INDUSTRY.WATCH BRANDS NOW IN BETTER POSITION THAN MANY COMPETITORS THANKS TO STOCK BUYBACKS.EXPECTS JOINT VENTURE WITH ALIBABA TO BECOME OPERATIONAL AT END OF THIS MONTH.GROUP'S STRONG BALANCE SHEET AND STAFF WILL HELP "TO SEE US THROUGH THESE UNEASY TIMES AND ACHIEVE OUR LONG-TERM AMBITIONS".  Full Article

Richemont’s Eric Vallat To Step Down For Personal Reasons -Statement
Tuesday, 10 Sep 2019 

Sept 10 (Reuters) - Compagnie Financiere Richemont SA ::RICHEMONT ANNOUNCES THAT MR ERIC VALLAT, HEAD OF FASHION & ACCESSORIES MAISONS, WILL STEP DOWN FROM HIS CURRENT POSITION AND FROM SENIOR EXECUTIVE COMMITTEE FOR PERSONAL REASONS.CHANGE IS EFFECTIVE 26 OCTOBER 2019.  Full Article

YNAP: Richemont Reports 3.3 Pct Of Share Capital Tendered In Sell-Out Procedure
Wednesday, 13 Jun 2018 

June 13 (Reuters) - YNAP ::RICHEMONT REPORTS 3.3 PERCENT OF SHARE CAPITAL WAS TENDERED IN SELL-OUT PROCEDURE.RICHEMONT TO OWN 98.4 PERCENT OF YNAP AT END OF SELL-OUT PERIOD.  Full Article

Compagnie Financiere Richemont SA CFO Says Sees Second-Watches As An Emerging Market
Friday, 18 May 2018 

Compagnie Financiere Richemont SA ::CFO SAYS HAPPY WITH CURRENT LEVEL OF INVENTORY AT TRADE PARTNERS.CFO SAYS INVENTORY BUY-BACKS LIKELY OVER.COO SAYS NEW BAUME BRAND WILL ALLOW TO APPROACH NEW CLIENTELE.CARTIER CEO SAYS HONG KONG MARKET HAS SEEN V-SHAPED RECOVERY SINCE SUMMER THANKS TO LOCALS AND MAINLAND CHINESE.CFO SAYS STILL IN TALKS WITH ITALIAN LEATHER GOODS COMPANY ON LANCEL.CFO SAYS SEES MEANINGFUL OPPORTUNITY TO GROW IN LEATHER GOODS, MAINLY ORGANICALLY.CFO SAYS BUSINESS TRENDS SINCE APRIL 1 SIMILAR TO FINAL QUARTER OF FISCAL 2017/18.CFO SAYS TO DECIDE ON TECHNOLOGY SETUP, INCLUDING MANAGEMENT ISSUES, AFTER ACQUIRES FULL CONTROL OF YNAP THIS SUMMER.CFO SAYS SEES SECOND-WATCHES AS AN EMERGING MARKET.CFO SAYS SEES SECOND-HAND WATCHES AS AN EMERGING MARKET.  Full Article

Piquadro Starts Exclusive Negotiations With Richemont For Potential Acquisition Of Lancel
Tuesday, 13 Mar 2018 

March 13 (Reuters) - PIQUADRO SPA ::STARTS EXCLUSIVE NEGOTIATIONS WITH RICHEMONT FOR POTENTIAL ACQUISITION OF LANCEL.IF DUE DILIGENCE IS POSITIVE AND FINAL AGREEMENT IS REACHED, THE OPERATION SHOULD BE FINALIZED BY END OF H1.  Full Article

YNAP sees 2020 adjusted core profits at lower end of plan guidance
Tuesday, 6 Mar 2018 

March 6 (Reuters) - Yoox Net-A-Porter (YNAP) executives told analysts in a post-results call: :IN LIGHT OF PAST DELAYS IN MIGRATION OF THE OUTNET PLATFORM, MIGRATION OF NET-A-PORTER PLATFORM POSTPONED BY A FEW MONTHS TO 2019.CONFIRMS 5-YEAR PLAN TARGETS, SEES 2020 ADJUSTED EBITDA MARGIN AT LOWER END OF GUIDANCE OF 11-13 PERCENT.  Full Article

YNAP sees 2018 revenue growth in line with strategic plan
Tuesday, 6 Mar 2018 

March 6 (Reuters) - Online luxury retailer Yoox Net-A-Porter (YNAP) says::2017 ADJUSTED EBITDA 169.2 MILLION EUROS VERSUS THOMSON REUTERS ESTIMATE OF 169 MILLION EUROS.2017 ADJUSTED NET INCOME 51.2 MILLION EUROS.POSITIVE NET FINANCIAL POSITION AT 83.7 MILLION EUROS ON DEC. 31, 2017 VERSUS 104.7 MILLION END-2016.GROUP TO INVEST 170-180 MILLION EUROS IN 2018.EXPECTS TO ACHIEVE ORGANIC NET REVENUE GROWTH IN LINE WITH STRATEGIC PLAN, DELIVER IMPROVED ADJUSTED EBITDA MARGIN AT CONSTANT EXCHANGE RATES.  Full Article

YNAP to consolidate position in hard luxury and strengthen shoe offering
Tuesday, 6 Mar 2018 

March 6 (Reuters) - Online luxury retailer Yoox Net-A-Porter (YNAP) shows in company slides: :TO CONSOLIDATE POSITION IN HARD LUXURY AND STRENGTHEN SHOE CATEGORY IN IN-SEASON BUSINESS IN 2018 - SLIDE.PARTNERSHIP FOR BALMAIN ONLINE FLAGSHIP STORE SIGNED FOR 5 YEARS - SLIDE.OPENING OF DEDICATED IN-SEASON HUB IN MILAN MORE THAN DOUBLES EXISTING IN-SEASON CAPACITY - SLIDE.  Full Article

Kering Says Relationship with Yoox Net-A-Porter Will Not Change Due To Richemont's Bid For Control
Tuesday, 13 Feb 2018 

Feb 13 (Reuters) - Kering ::CHAIRMAN AND CEO PINAULT SAYS PRIORITY FOR THE GROUP REMAINS ORGANIC GROWTH, ACQUISITIONS NOT NECESSARY FOR THE GROUP IN SHORT OR MEDIUM TERM TO GENERATE GROWTH.GROUP MANAGING DIRECTOR SAYS RICHEMONT'S BID TO BUY OUT REST OF YOOX NET-A-PORTER DOES NOT CHANGE KERING'S RELATIONSHIP AND CONTRACT WITH YNAP.  Full Article

Richemont CFO says stock levels at watch retailers still too high
Friday, 10 Nov 2017 

Nov 10 (Reuters) - Richemont Sa Cfo :Says now has management structure in place to meet challenges‍​.Says inventories at trade partners are still higher than we'd like them to be.Says watch sales through wholesale network flat in h1 without impact of inventory buyback.Says double-digit growth rates in jewellery have held up in recent months.Says currently has 7.5 percent stake in dufry, no plans to increase it.Says currently no plans to further reduce manufacturing capacity.  Full Article

Swiss stocks - Factors to watch on September 11

ZURICH/BERLIN, Sept 11 The Swiss blue-chip SMI was seen opening 0.4 percent higher at 10,057 points on Wednesday, according to premarket indications by bank Julius Baer.