[WCSA – Wowtimes - Almanac Events & Achievements 2023] Milestones during 35 years’ development of Richemont, the Switzerland-based luxury goods holding company (1988)

11-11-2023

(wcsa.world) Compagnie Financière Richemont S.A., commonly known as Richemont, is a Switzerland-based luxury goods holding company founded by South African businessman Johann Rupert.

Compagnie Financière Richemont S.A. organizes its business activities into three operating divisions: Jewellery Maisons, Specialist Watchmakers and Other Businesses. Through its various subsidiaries, Richemont produces and sells jewellery, watches, leather goods, pens, firearms, clothing, and accessories.

The brands it owns include A. Lange & Söhne, Azzedine Alaïa, Baume & Mercier, Buccellati, Cartier, Chloé, Dunhill, IWC Schaffhausen, Giampiero Bodino, Jaeger-LeCoultre, Montblanc, Officine Panerai, Piaget, Peter Millar, Purdey, Roger Dubuis, Vacheron Constantin, Van Cleef & Arpels and Delvaux.

Richemont has been a major player in the luxury goods industry, and its brands are associated with quality, craftsmanship, and exclusivity. The company operates globally and has a significant presence in key markets for luxury goods.

(Wowtimes) Richemont’s history and achievements

1988: Compagnie Financière Richemont SA was founded by Johann Rupert through the spin-off of the international assets owned by Rembrandt Group Limited of South Africa.
1990: Sup de Lux was founded. It is the reference for training in the luxury sector. This marks the luxury sectors increasing economic importance, as well as its specific codes and professional requirements.
1991: Cartier, Baume & Mercier, Piaget, Gérald Genta and Daniel Roth launch the Salon International de la Haute Horlogerie to create an exclusive watch salon based in Geneva.
2000: Richemont and Daimler co-found Laureus, a global organisation that celebrates sporting excellence and uses sport as a powerful and cost-effective tool to help children and young people overcome violence, discrimination and disadvantage in their lives.
2002: Cartier opens the L'Institut Cartier Joaillerie with the objective of maintaining and developing the jewellery arts through a continuous and tailor-made training programme.
2004: Richemont partners with The City Council of Beijing, The Chinese Watch Association and The People’s Palace of Culture, Beijing, to facilitate and partake in the first exhibition of fine watchmaking staged in the exceptional surroundings of the Forbidden City in Beijing.
2005: Richemont, Audemars Piguet and Girard-Perregaux establish Fondation de la Haute Horlogerie (FHH), a not-for-profit foundation that aims to promote the reputation of watchmaking excellence around the world by sharing horological knowledge and organising events for the general public and professionals.
2009: Through purchases of carbon offsets and efforts to decrease emissions, the Group become carbon neutral across its operations, including travel, buildings, and own logistics.
2012: Compagnie Financière Richemont S.A. was the sixth largest corporation by market capitalization in the Swiss Market Index.
2013: Richemont became a member of the UN Global Compact, the world’s largest corporate sustainability initiative
2014: Richemont was the second-largest luxury goods company in the world after LVMH.
2015: Richemont established TimeVallée, a visionary multi-brand watch retail concept.
2021: Richemont and Alber Elbaz opened AZ Factory, a pioneering joint venture focused on designing beautiful, solutions-driven fashion that works for everyone – smart fashion that cares.