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Compagnie Financiere Richemont SA (CFR.S)

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Latest Key Developments (Source: Significant Developments)

Kering Says Relationship with Yoox Net-A-Porter Will Not Change Due To Richemont's Bid For Control
Tuesday, 13 Feb 2018 04:17am EST 

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 02:34am EST 

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

Richemont announces staff changes, with HR chief to be replaced
Thursday, 21 Sep 2017 01:34am EDT 

Sept 21 (Reuters) - Compagnie Financiere Richemont Sa :Says jean-jacques van oosten has been appointed to the newly created role of chief technology officer and will join the senior executive committee effective 1 january 2018.Says sophie guieysse has been appointed group human resources director and will join the senior executive committee effective 1 october 2017.Says human resources director thomas lindermann will leave richemont for personal reasons and step down from the group management committee with effect from 31 october 2017.  Full Article

Richemont says no need to reconsider stake in Yoox Net-a-Porter
Friday, 12 May 2017 05:42am EDT 

May 12 (Reuters) - Richemont :Cfo says to further improve efficiency, assess retail network.Cfo says doesn't want to call bottom in hong kong market.Chairman says no need to reconsider investment in yoox net-a-porter at this stage.Chairman says did not want to acquire breitling after laying off people.  Full Article

Richemont chairman says his son to ensure link to management on board
Friday, 12 May 2017 02:27am EDT 

May 12 (Reuters) - Richemont Chairman :Says his son Anton, who will join the board, will be the link between controlling shareholders and managers.  Full Article

Richemont ends one stock buyback, starts another
Friday, 12 May 2017 01:29am EDT 

May 12 (Reuters) - Compagnie Financiere Richemont SA :Says richemont announces end of share buy-back programme initiated in may 2014 and launch of a new programme.Says announces a new programme to buy-back up to 10 million richemont 'a' shares through market over next three years, representing 1.7 % of capital and 1.0 % of voting rights.Richemont says repurchased a total of 5 185 000 'a' shares, representing 0.9 % of capital and 0.5 % of voting rights under expiriing buyback.  Full Article

YNAP CEO says 2017 outlook is "very very positive"
Thursday, 2 Mar 2017 03:56am EST 

Yoox Net-A-Porter Chief Executive Federico Marchetti tells reporters during a conference: the group's outlook for 2017 is "very very positive" Further company coverage: [YNAP.MI] (Reporting by Milan newsroom).  Full Article

Richemont says will have shut 50 shops by end of the year
Friday, 4 Nov 2016 04:36am EDT 

Richemont :CFO says closed down 25 stores at end of sept and will have closed another 25 by end of the year.  Full Article

Richemont says October sales were "modestly positive"
Friday, 4 Nov 2016 04:31am EDT 

Richemont :CFO confirms sales in October were "modestly positive".  Full Article

Richemont says restructuring will happen through shop closures
Friday, 4 Nov 2016 03:35am EDT 

Richemont : Richemont chairman says restructuring of group will happen through natural attrition, closing down of shops . Chairman says inventory buy-back broadly done, does not see clear improvement in trends .Richemont chairman says will no longer give monthly trading updates.  Full Article

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Italian investor looks to rev up Shanghai Tang sales

MILAN Italian entrepreneur Alessandro Bastagli set his sights on Shanghai Tang two decades ago and having finally bought the brand in 2017 from Richemont he aims to increase the group's sales by 15-20 percent next year.