Compagnie Financiere Richemont SA

Owners of Swiss luxury group Richemont <CFR.S> have approved plans to issue warrants as part of a shareholder loyalty scheme, the company said on Wednesday, setting out terms for the issue that follows a COVID-19 related cut to the dividend.

Richemont <CFR.S> said a $1.1 billion partnership with Alibaba <9988.HK> to invest in online luxury retailer Farfetch <FTCH.N> and its new Chinese marketplace would further drive sales in its biggest and fastest growing market.

Alibaba Group Holding Ltd <9988.HK> and Swiss group Richemont <CFR.S> will invest $1.1 billion in online luxury fashion retailer Farfetch Ltd <FTCH.N> and its new marketplace in China, as online demand for luxury goods booms in the Asian country.

Richemont's <CFR.S> deal with Alibaba and Farfetch <FTCH.N> will help the Swiss luxury good group to build an "omnichannel" business and improve service to customers and doesn't signal a lack of confidence in its online distributor YNAP or a takeover of Farfetch, its chairman...

Luxury goods group LVMH said on Thursday it would counter-sue Tiffany, accusing it of mismanagement through the coronavirus crisis after the U.S. jeweller accused the French group of trying to bow out of a $16 billion acquisition deal.

Luxury goods group Richemont must manage its cash even more carefully this year in light of the ongoing COVID-19 pandemic, its chairman said on Wednesday, explaining why the Cartier owner slashed its dividend proposal.

Luxury goods group Richemont still has to be cautious and keep its cash in light of the ongoing COVID-19 pandemic, its chairman said during a webcast on Wednesday.

Richemont <CFR.S>, the owner of Cartier, gave details of its proposed shareholders' loyalty scheme on Friday, where it will give warrants to investors which later can be converted into newly created stock.

Luxury goods group Richemont said it had seen "unprecedented levels of disruption" from the COVID-19 pandemic in the three months to June 30, leading its sales to almost halve, and gave no details on current trading or the outlook.

* RICHEMONT ANNOUNCES THAT, EFFECTIVE 1 SEPTEMBER 2020, PHILIPPE FORTUNATO WILL ASSUME ROLE OF CEO OF FASHION & ACCESSORIES MAISONS AND WILL JOIN GROUP'S SENIOR EXECUTIVE COMMITTEE Source text for Eikon: Further company coverage: (Berlin Speed Desk)

Luxury goods group Richemont has decided not to cut employee bonuses for its fiscal year 2019/20 that ended in March, a union representative told Reuters on Tuesday.

Richemont appointed former Givenchy chief Philippe Fortunato to lead its fashion and accessories business, a company source told Reuters on Tuesday.

Cartier maker Richemont's <CFR.S> human resources director is leaving its executive committee, the Swiss luxury goods group said on Friday, without giving a reason for the departure.

Cartier maker Richemont's human resources director is leaving, the Swiss luxury goods group said on Friday, without giving a reason for the departure.

* ANNOUNCES THAT SOPHIE GUIEYSSE IS STEPPING DOWN FROM SENIOR EXECUTIVE COMMITTEE WITH IMMEDIATE EFFECT, AND WILL NOT STAND FOR RE-ELECTION TO BOARD OF DIRECTORS AT ANNUAL GENERAL MEETING ON 9 SEPTEMBER 2020 Source text for Eikon: Further company coverage: (Berlin Speed...

* DURING THREE YEARS OF 2017 SHARE BUY-BACK PROGRAMME, COMPANY REPURCHASED 4'200'000 SHARES Source text for Eikon: Further company coverage: (Berlin Speed Desk)

* JSE: CFR - RICHEMONT PLACES €2.0 BILLION EURO DENOMINATED BOND Source text for Eikon: Further company coverage:

* SUCCESSFULLY PLACED A EURO DENOMINATED BOND TRANSACTION TODAY WITH A VOLUME OF EUR 2.0 BILLION.

Cartier maker Richemont <CFR.S> reported a 67% fall in annual profit on Friday and said the impact of the coronavirus could last up to three years despite signs of recovery in China.