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What saint Laurent's next designer should understand. Luxury giant Richemont and US retailer Signet Jewelers Ltd. are in talks to join a consortium that's in prime position to buy diamond miner De Beers, according to five people familiar with the matter. Saint Laurent's legacy is less a collection of codes than a way of seeing women and the world. Vaccarello's successor should look beyond iconic images and silhouettes to the convictions that shaped them, argues biographer Laurence Benaïm. The country has a massive domestic market and unique authority in hair and body care. Now it needs to stoke interest around the world. A subtle and contemporary Chinese-inflected aesthetic has long made the designer's label the star of Shanghai fashion week. After over a decade in business, he's finally ready for growth.

"That would lead to the lowest growth since Corona" - Swatch and Richemont shares under pressure after China data. Richemont and Swatch shares fall on Tuesday. Disappointing retail data from China weigh on the entire sector. 15.09.2026 03:15 Prices of luxury goods shares are under pressure on Tuesday morning. Shares of industry leader LVMH fall by more than 2.6 percent to 406.55 euros. This immediately snuffs out the tentative stabilization attempt from the previous day. Shares of the luxury goods group are now at a price level last seen six years ago. Alongside European competitors such as Hermès (-2.1 percent), Dior (-2.1 percent) or Brunello Cucinelli (-1.3 percent), Swiss sector representatives Richemont and Swatch are also declining. Richemont sheds more than 2.5 percent to 168.70 francs, Swatch falls around 2.1 percent to 171.95 francs. Richemont is thus at a three-month low. Swatch shares have almost completely given back their price gains of more than 12 percent since the end of July. Triggers for the setback, besides the weak overall market, are disappointing retail data from China. These fell well short of expectations and, according to Barclays, are at the lowest level since the coronavirus pandemic. Disappointing Chinese retail sales and falling estimates. In August, Chinese retail sales rose only 0.4 percent year on year - economists had expected 0.8 percent. "That would lead to the lowest growth since Corona," says one trader, referring to a Barclays study. The bank lowers its full-year growth forecast after the new data from 3.7 percent in 2025 to only 1 percent. "Demand from Chinese customers is 'the' topic in luxury," emphasizes another market participant. For around a third of the sector's revenue depends on consumers in the Middle Kingdom. The latest earnings revisions by analysts for Swatch and Richemont reflect this setback. Over the past three months, experts lowered the forecast for earnings per share growth at Swatch from minus 10 percent to minus 11 percent. For Richemont, they still expect a plus of 9.2 percent, down from 11.4 percent previously. Because of the higher growth, more analysts favor Richemont shares. For example, 14 of 20 experts recommend buying the Geneva group's shares, only one recommends selling. At Swatch, however, the picture is the opposite. Here only two of 17 analysts advise buying, nine recommend holding and six selling. The average price target for Swatch is around 1.9 percent below the current price level, while for Richemont it is almost 25 percent above it. Richemont's half-year figures on November 13, 2026, and Swatch's annual figures in January 2027 are likely to provide further indications of the development of the core business. In addition, the data provide important insights into the state of Chinese consumers. Even earlier, LVMH's quarterly results are on the agenda - the industry leader will publish its third-quarter results on October 9 after the close of trading.

Richemont announces the appointment of a Non-executive Co-Deputy Chairman of its Board of Directors. AD HOC ANNOUNCEMENT PURSUANT TO ART. 53 LR 9 SEPTEMBER 2026 RICHEMONT ANNOUNCES THE APPOINTMENT OF A NON-EXECUTIVE CO-DEPUTY CHAIRMAN OF ITS BOARD OF DIRECTORS The Board of Compagnie Financière Richemont SA ('Richemont') appoints Mr Anton Rupert as Non-executive Co-Deputy Chairman of the Board, serving alongside Mr Bram Schot, Non-executive Co-Deputy Chairman. Following the meeting of the Board of Directors on 8 September, Richemont is pleased to announce the appointment of Mr Anton Rupert as Non-executive Co-Deputy Chairman of the Board of Directors, with immediate effect. He will serve alongside Mr Bram Schot, who was appointed Non-executive Deputy Chairman in 2024 and who will continue in his role as Non-executive Co-Deputy Chairman. The two Non-executive Co-Deputy Chairmen will have complementary remits. Mr Anton Rupert will oversee matters relating to the Maisons' Strategic Product and Communications Committee (SPCC), ensuring continuity in an area of central importance to the Group's creative and commercial direction. Mr Bram Schot will assume responsibility for Board and Committee-related governance matters, including the coordination of the Board's committees and the Group's corporate governance framework. This division of responsibilities reflects the Board's commitment to robust governance and to ensuring that both the Group's strategic priorities and its governance obligations receive dedicated attention at Non-executive Co-Deputy Chairman level. Commenting on the appointment, Mr Johann Rupert, Chairman of Richemont, said: "This appointment is an important step in the Board's long-term succession planning. Richemont's strength has always rested on the continuity that comes from close family involvement, on rigorous governance, and on an unwavering commitment to creativity and craftsmanship. Having Anton and Bram serve together as Non-executive Co-Deputy Chairmen ensures that each of these foundations is given the attention it deserves: Anton will continue to safeguard the creative and product priorities that define our Maisons, while Bram will ensure that our governance remains of the highest standard. Together they reflect what has always guided this Group - a long-term view, a respect for the people and savoir-faire behind our Maisons, and the discipline to steward them responsibly for the generations to come." About Richemont At Richemont, we craft the future. Our unique portfolio includes prestigious Maisons distinguished by their creativity and craftsmanship. Richemont's ambition is to nurture its Maisons and businesses and enable them to grow and prosper in a responsible, sustainable manner over the long term. Richemont operates in three business areas: Jewellery Maisons with Buccellati, Cartier, Van Cleef & Arpels and Vhernier; Specialist Watchmakers with A. Lange & Söhne, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis and Vacheron Constantin; and Other, primarily Fashion & Accessories Maisons with Alaïa, Chloé, Delvaux, dunhill, G/FORE, Gianvito Rossi, Montblanc, Peter Millar, Purdey, Serapian as well as TimeVallée and Watchfinder & Co. Find out more at https://www.richemont.com/. 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 'A' shares are also listed on the Johannesburg Stock Exchange, Richemont's secondary listing. Investor/analyst and media enquiries