Richemont Sells Lancel
Compagnie Financière Richemont SA
Depositary Receipts issued by Richemont Securities SA
("Richemont Securities" or "Richemont")
(Incorporated in Switzerland)
Share code: CFR
Depositary Receipt Code: CFR
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.
The Group's annual general meeting will be held on Monday 10 September 2018 in Geneva.
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 firstname.lastname@example.org
Media +41 22 721 35 07 email@example.com
COMPAGNIE FINANCIERE RICHEMONT SA
50, CHEMIN DE LA CHENAIE | CASE POSTALE 30 | 1293 BELLEVUE | GENEVA | SWITZERLAND
TELEPHONE +41 (0)22 721 3500
Sponsor: RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 04/06/2018 07:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Email this JSE Sens Item to a Friend.