Richemont hires advisor for Lancel sale: Bloomberg
PARIS/ZURICH (Reuters) - Swiss luxury goods group Richemont (CFR.VX) has hired investment bank Nomura (8604.T) to advise on a possible sale of luxury leather goods brand Lancel, according to a Bloomberg report and French press on Monday.
The sale could raise about 500 million euros ($675.5 million), according to the reports, citing unnamed sources.
Richemont declined to comment.
The maker of Cartier jewellery and Piaget watches recently reported an increase of 9 percent in five-month sales through August, just shy of forecasts, with weak demand for its watches in mainland China but strong growth in Japan and the Americas.
(Reporting by Lionel Laurent in Paris and Silke Koltrowitz in Zurich; Editing by David Holmes)
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