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Richemont is a Swiss-based holding company that owns a collection of luxury brands, including Cartier, Van Cleef & Arpels, Jaeger-LeCoultre, and IWC Schaffhausen. It operates by acquiring and nurturing iconic luxury maisons with rich histories, then leveraging their heritage to create premium jewelry, watches, and accessories sold worldwide through its brands and retail networks. Unlike diversified conglomerates that mix many non-luxury businesses, Richemont focuses exclusively on high-end goods and has deliberately shifted away from other interests (like tobacco) to sharpen its luxury focus. Its goal is to build a global luxury powerhouse by growing its brands, expanding across geographies, and maintaining control over premium product sourcing, design, and distribution.
Industries
Industrial & Manufacturing
Consumer Goods
Company Size
10,001+
Company Stage
IPO
Headquarters
Bellevue, Switzerland
Founded
1988
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Richemont Invests €12 Million to Double Leather Goods Plant in Scandicci, Tuscany Luxury group strengthens its Florence-area manufacturing hub, with workforce set to reach 300 employees by year-end. Jun 30, 2026 | News Richemont, the Swiss luxury group, has completed a €12 million investment to expand and modernise its leather goods facility in Scandicci, near Florence, confirming Tuscany's continued strategic relevance for high-end manufacturing. The plant, now renamed Pelletteria Richemont Firenze (PRF), has grown from 5,000 to 12,000 square metres and was officially inaugurated on 23 June in the presence of Richemont Group CEO Nicolas Bos and local institutional representatives. A shared platform for five luxury brands The renovated facility now houses design, development and prototyping for handbags - and in some cases footwear - for five of the group's maisons: Cartier, Montblanc, Serapian, Dunhill and Chloé. It also hosts the group's repair centre serving Europe and the Middle East. While each brand retains dedicated spaces for creative and prototyping work, the site introduces a shared model for cutting operations, leather testing, warehousing, maintenance, and administrative, finance and HR functions. Long-term commitment to Tuscan craftsmanship The investment comes at a sensitive moment for Tuscany's luxury leather goods district, which has recently faced layoffs and production slowdowns. "We don't look at the short term, but at the long term," said Domenico Oliveri, Industrial Director of Richemont's Fashion & Accessories division. "We believe in manufacturing as a source of value, and this investment carries significant weight for the future of the leather goods business." Workforce growth and a stronger supply chain Employment at the site has grown from 150 to 250 over the past three years and is expected to reach 300 by the end of 2026, as expansion works - including a larger in-house cutting centre - are completed. Richemont also works with around 100 external Italian workshops employing more than 2,000 people, 60% of them based in Tuscany. The group plans to further internalise bag production by acquiring external workshops in the future. Craftsmanship at the core "We want to keep raising quality standards," said Cesare Landi, CEO of Pelletteria Richemont Firenze, highlighting the full internalisation of leather cutting as a strategic step that also reduces waste. "Technology and innovation matter, but artisanal skill and expertise will always make the difference." Institutional recognition Lapo Baroncelli, President of Confindustria Toscana Centro e Costa, welcomed the investment as evidence that Tuscan manufacturing excellence continues to evolve through research, innovation and skilled craftsmanship. Scandicci Mayor Claudia Sereni described the new plant as a strong signal of confidence in the area's expertise, quality of work and generations-long manufacturing tradition.
Pieter Mulier leaves Alaïa after five years as creative director. The Belgian designer is leaving the Richemont Group fashion house after boosting its sales. Rumors are already circulating that olivier rousteing (formerly of balmain) will replace him, while Mulier himself is tipped to take the reins at versace... Five years after joining Alaia, the Richemont Group fashion house announced on January 30 that Pieter Mulier was stepping down as creative director. This confirmed rumors that had been circulating in fashion circles... The Belgian designer will bid farewell after the Paris Fashion Week show, which will take place from March 2 to 10. Heading to versace? While wishing Pieter Mulier "every success in his future endeavors" and assuring him that he "will always remain a member of the Alaïa family," the company stated that "the studio will ensure continuity during the interim period until a creative organization is confirmed." * Every day, keep up to date with the latest business news from the world of luxury. * Receive the essential luxury business news by email every week * Access all its events * The Luxury Journals and Luxus Magazine in print and digital versions Become an active member of the community of luxury leaders. Sophie Michentef has worked for more than 30 years in the professional press. For fifteen years, she managed the French and international editorial staff of the Journal du Textile. She now puts her press, textile, fashion, and luxury expertise at the service of newspapers, professional organizations, and companies.
Richemont sells watchmaker Baume & Mercier to Italy's Damiani. Richemont agreed to sell Swiss watchmaker Baume & Mercier to Italy's Damiani Group following a slowdown in the market for pricey timepieces. The purchase of the almost 200-year-old watchmaker will expand Damiani's range of brands, which include Salvini, Bliss and Calderoni, as well as artistic glass-maker Venini, according to a statement Thursday. Financial terms were not disclosed. Richemont, which owns jewelers Cartier and Van Cleef & Arpels as well as watchmakers such as Piaget and Vacheron Constantin, acquired Baume & Mercier in 1988. Damiani, which is privately held, also owns Rocca, a luxury watch and jewelry distributor with a chain of boutiques in Italy. "We will both benefit from this new start," Jérôme Favier, Damiani's chief executive officer, told Bloomberg. "Damiani Group will expand its offer in the watch segment and attract a new customer base," Favier said. "Baume & Mercier will be able to count not only on our solid position in wholesale, but also on our strong expertise in the watch market." Luxury watches are coming off a tough year, when US president Donald Trump's tariffs, record gold prices and weak demand in China weighed on sales and exports. Richemont's specialist watchmakers reported a 7 percent sales increase in the final quarter of last year - a sign the slump may be abating. The deal is expected to close in the summer of 2026 and remains subject to certain conditions, according to the statement. Richemont will provide operational services for Baume & Mercier for an interim period of at least 12 months after closing.
Cartier announces senior leadership appointments. Cartier has announced the appointment of Grégoire Blanche as Senior Vice President - Chief Commercial Officer, effective 1st January 2026. Based in Geneva, Grégoire will join Cartier's International Executive Committee and report directly to the President & CEO of Cartier. With a career at Cartier spanning nearly three decades, Grégoire Blanche brings extensive international experience and deep knowledge of the Maison. He joined Cartier in 1997 as a Project Manager in Switzerland before moving to Miami in 1999, where he held several roles in Marketing and Communication. In this capacity, he oversaw operations across Latin America, the Caribbean and the duty-free market based out of Miami. Grégoire later returned to Europe to join Cartier's International Retail team, further strengthening his retail expertise. He subsequently served as Chief of Staff to the then President & CEO. In 2013, he was appointed Managing Director of Cartier South-East Asia and Australia, a role he held until 2017, before being named Chief Executive Officer of Cartier Europe. In parallel, Richemont announced the appointment of Renaud Litré as Richemont Group Chief Platforms Officer, also effective 1st January 2026. Based in Geneva, Renaud will report directly to the Richemont CEO. In his new role, he will bring his extensive expertise, deep knowledge of the Group and its Maisons, and broad international experience to support Richemont's platform strategy. These appointments reflect Cartier's and Richemont's continued commitment to strong leadership and long-term strategic development at both Maison and Group levels.
Richemont Singapore recognised as one of HR Asia's Best Companies to Work for in Asia. Richemont Singapore has recently been awarded the HR Asia Best Companies to Work for in Asia Award. This recognition serves as a powerful testament to the company's belief that people are its greatest asset, highlighting its commitment to nurturing exceptional talent and fostering a truly supportive environment where every employee can thrive. Richemont Singapore extends its gratitude to its teams and all those who contributed to achieving this remarkable milestone.
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Industries
Industrial & Manufacturing
Consumer Goods
Company Size
10,001+
Company Stage
IPO
Headquarters
Bellevue, Switzerland
Founded
1988
Find jobs on Simplify and start your career today