COMPAGNIE FINANCIERE RICHEMONT SA - Richemont Sells Lancel

Release Date: 04/06/2018 07:30
Code(s): CFR
 
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Richemont Sells Lancel

Compagnie Financière Richemont SA 
Depositary Receipts issued by Richemont Securities SA 
("Richemont Securities" or "Richemont") 
(Incorporated in Switzerland) 
Share code: CFR 
ISIN: CH0045159024 
Depositary Receipt Code: CFR


COMPANY ANNOUNCEMENT 


4 JUNE 2018


RICHEMONT SELLS LANCEL


Richemont, the Swiss luxury goods group, announces that it has completed the sale of its wholly-owned subsidiary, Lancel, a French luxury leather goods company, on 2 June 2018 to Piquadro S.p.A., an Italian leather goods group listed on the Milan Stock Exchange. The transaction will have no material impact on Richemont's balance sheet, cash flow or results for the year ending 31 March 2019.


Corporate calendar

The Group's annual general meeting will be held on Monday 10 September 2018 in Geneva.


About Richemont

Richemont owns a portfolio of leading international 'Maisons' which are recognised for their distinctive heritage, craftsmanship and creativity. The Group operates in three segments: Jewellery Maisons, being Cartier, Van Cleef and Arpels and Giampiero Bodino; Specialist Watchmakers, being A. Lange and Söhne, Baume and Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Officine Panerai, Piaget, Roger Dubuis and Vacheron Constantin; and Other, including Alfred Dunhill, Azzedine Alaïa, Chloé, Montblanc and Peter Millar as well as watch component manufacturing activities.

In addition, Richemont's voluntary public tender offer for all ordinary shares of YOOX NET-A-PORTER GROUP S.p.A. is expected to complete in June 2018.

For the financial year ended 31 March 2018, Richemont reported sales of Euro 10 979 million, operating profit of Euro 1 844 million and profit for the year of Euro 1 221 million.

Richemont 'A' shares are listed on the SIX Swiss Exchange, Richemont's primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont's secondary listing.


Investor/analyst and media contacts 

Sophie Cagnard, Corporate Communications Director 
James Fraser, Investor Relations Executive

Investors/analysts        +41 22 721 30 03        investor.relations@cfrinfo.net
Media                     +41 22 721 35 07        pressoffice@cfrinfo.net
                                                  richemont@teneobluerubicon.com


COMPAGNIE FINANCIERE RICHEMONT SA
50, CHEMIN DE LA CHENAIE | CASE POSTALE 30 | 1293 BELLEVUE | GENEVA | SWITZERLAND
TELEPHONE +41 (0)22 721 3500 
WWW.RICHEMONT.COM


Sponsor: RAND MERCHANT BANK (A division of FirstRand Bank Limited)


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