Compagnie Financiere Richemont SA (Richemont) is a Switzerland-based luxury goods company. The Company’s regional exposures include, Europe, Middle East & Africa, Asia Pacific and the Americas.
The group reported its 2019-full year results on the 17th of May 2019. Richemont posted a robust set of numbers with revenue increasing by 8% (excluding the YNAP and Watchfinder acquisitions).
By division, the Jewellery Maisons contributed to the bulk of operating profit, followed by the Specialist Watchmakers segment. The online distribution component reported an operating loss of €264 million for the period, mainly due to cost associated with the global technology and logistics platform migration, as well as an amortisation expense of €165 million related to intangible assets.
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