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Stronger numbers from Europe and Japan not enough to offset hit to luxury goods groups
Jewellery specialist is right to be cautious but has an opportunity to boost its presence
Brands see booming demand for their heritage pieces, which they are buying back, restoring and offering for sale once more
Activist investor Bluebell had accused the chair of Richemont of wielding too much power and wanted change
Johann Rupert handed victory after shareholders reject bid to shake up luxury group’s board and strategy
Plus, Italian politicians delay an airline deal and Bertelsmann’s chief fights antitrust regulators
Shareholders of Swiss luxury group line up against hedge fund Bluebell’s challenge to chair Johann Rupert
Hedge fund attacks ‘shortfall in governance’ and says the group should focus on watches and jewellery brands to boost profits
Plus, Richemont’s break with ecommerce fails to placate activist investors
The theory that luxury goods lend themselves to online retailing remains unproven
Activists saw Yoox Net-a-Porter as an unprofitable distraction for Richemont
Luxury goods groups benefit from strong US dollar and recoveries in Europe
Swiss luxury group hit by delayed plan to sell stake in ecommerce business and slowing revenue growth in China
LVMH and Kering join Hermès, Chanel and Richemont amid consumer pressure over Ukraine war
Burberry, Richemont and Prada all report better trading than previously expected
Yoox Net-a-Porter has lost market share to rivals and become a sore point for investors
Founder’s control of group makes criticism from minority shareholders mere rhetoric
Chair Johann Rupert has long enjoyed tight control over Swiss group because of special voting rights
Asian collectors drive up resale prices with growing interest at auction
Swiss group shows off sparkling numbers amid a broad rebound in high-end jewellery sector
Group saved by rising online sales but dependency on a couple of brands tarnishes the outlook
Johann Rupert acknowledged approach but insists he has no interest in selling
Luxury shoppers are still treating themselves despite pandemic
Collections of Uruguayan-born designer are made primarily from recycled materials, signalling sustainable push by Swiss luxury group
Watchmaker aims to be more accessible digitally and physically, says its CEO
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