COMPANY PROFILE -Richemont
Business Sector :Fashion and Lifestyle, Luxury Goods
Operating Geography :Switzerland, Europe, Global
About Richemont :
Compagnie Financière Richemont SA, also known as Richemont, is a Switzerland-based luxury goods holding company. It was founded in 1988 by a business man Johann Rupert, after it got divested from the international assets owned by Rembrandt Group Limited of South Africa (now known as Remgro Limited). It has its headquarters in Bellevue, Switzerland and serves countries worldwide. It produces and sells jewelry, watches, leather goods, pens, firearms, clothing and accessories. The company owns some of the world’s most prestigious luxury goods companies, each of which has a proud history and heritage of craftsmanship and design. The company comprises of four divisions: Jewellery Maisons, Specialist Watchmakers, Montblanc Maison and Other. The Jewellery Maisons segment engages in the designing, manufacturing and distribution of jewellery products which include Cartier and Van Cleef & Arpels. The SpecialistWatchmakers segment includes timepieces by Piaget, A. Lange & Söhne, Jaeger-LeCoultre, Vacheron Constantin, Officine Panerai, International Watch Co., Baume & Mercier, and Roger Dubuis. The Montblanc Maison segment engages in the design, manufacture and distribution of writing instruments. The Other segment comprises the activities of Alfred Dunhill, Lancel, Chloé, Net-a-Porter, Purdey, and the textile brands and other manufacturing entities of the group. The group works towards an objective of growing value for shareholders in the long run. Each company that it owns is focused on increasing awareness and desirability by developing creative products and leveraging great marketing programs.
Compagnie Financière Richemont SA USP or unique selling proposition lies in being the ultimate holding Company for some of the world’s leading luxury goods companies, its Maisons - have almost all have had a running for more than a century
Richemont Revenue :
€14,238 million – FY ended 31s March 2020 (year-on-year growth of 2%)
€13,989 million – FY ended 31s March 2019 (year-on-year growth of 27%)
€11,013 million – FY ended 31s March 2018
Competitive Analysis of Richemont
The SWOT analysis for Richemont is presented below in a table followed by the detailed analysis report.
Strengths | Weaknesses |
1. One of the world’s leading luxury goods groups with prestigious brands
2. Wide regional and central functions operations
3. Global presence with sales distributed across major markets
4. Partnerships and acquisitions to strengthen its position
| 1. Destruction of unsold inventory by the company leading to major losses |
Opportunities | Threats |
1. Growth of luxury goods and wrist watch market
2. Leveraging digital technologies through expansion and collaborations
3. Global wealth growth – providing a strong tailwind
| 1. Impact of COVID-19 outbreak on luxury sales
2. Competition from lower priced premium brands
3. Fluctuation in cost and quality of raw materials such as precious metals and stones
4. High-end smartwatches and wearables eating into luxury watch market.
5. Increasing counterfeits harming brand reputation
|
Richemont SWOT and PESTLE Analysis PDF Report is a custom report and will be delivered to your email inbox within 2 business days from purchase.
Detailed SWOT Analysis of Richemont
Strength
1. One of the world’s leading luxury goods groups with prestigious brands: Richemont is one of the world’s leading luxury goods groups. It includes a handful of the most prestigious names in the industry. Some of its prominent brands include Cartier, Van Cleef & Arpels, Piaget, Vacheron Constantin, IWC, Montblanc and many more. The jewelry and special watchmaking companies excel in manufacturing and design. Owing to the high quality and great craftsmanship of the various products, it enjoys a strong brand recognition across the globe. A huge brand portfolio consisting of such high brands helps the company to attract and retain customers thus growing profitable.
2. Wide regional and central functions operations: Richemont’s functions are spread both regionally and centrally which enables its well-known brands to enter even more markets easily. These brands are then helped by the in-house tools support teams and development initiatives. The regional functions are well spread across the globe. The Group thus excels in sales across all the countries it operates. It further works towards empowering the local market teams to establish client-centric, entrepreneurial and cross-functional initiatives which will help in fostering business development and engagement.
The remaining section of “Strength” is available only in the 'Complete Report' on purchase.
Weakness
This section is available only in the 'Complete Report' on purchase.
Opportunity
This section is available only in the 'Complete Report' on purchase.
Threats
This section is available only in the 'Complete Report' on purchase.
The PESTLE / PESTEL analysis for Richemont is presented below in a table followed by the detailed analysis report.
Political | Economical |
1. Impact on sales due to yellow vest movement in France
2. Hong-Kong protest badly impacted Richemont’s business
3. Chinese crackdown on internal corruption leading to drop in sales
4. Active engagement with public organizations on key issues
| 1. Worsening global economic conditions would affect the luxury goods market
2. Impact of fluctuations in foreign currency exchange rates and inflation
|
Social | Technological |
1. Increasing conscientious consumption among consumers leading to lower luxury goods sales | 1. Investment in technology to enhance customer experience |
Legal | Environmental |
1. Intellectual property issue against copies of watches
2. Compliance with various laws and taxes owing to wide geographical presence
| 1. Committed to manage and reduce environmental impact from operations
2. Ensure stewardship during product sourcing, development and use
3. High level of environmental management and monitoring across the group
|
Richemont SWOT and PESTLE Analysis PDF Report is a custom report and will be delivered to your email inbox within 2 business days from purchase.
Detailed Pestle Analysis of Richemont
Political
This section is available only in the 'Complete Report' on purchase.
Economic
This section is available only in the 'Complete Report' on purchase.
Social
This section is available only in the 'Complete Report' on purchase.
Technological
This section is available only in the 'Complete Report' on purchase.
Legal
This section is available only in the 'Complete Report' on purchase.
Environmental
1. Committed to manage and reduce environmental impact from operations: With a large number of boutiques and manufacturing facilities operated by its brands, Richemont understands the ecological footprint associated with its building and facilities. In order to minimize this impact, Richemont ensures that construction, conversion, modernization and other building work at each facility is performed in compliance with local environmental legislation and norms. It also encourages the use of sustainable raw material which is sourced from responsible suppliers during construction and renovation of buildings. It also tries to limit building waste resulting from various activities. It is also committed towards energy efficiency. It strives towards reducing the carbon and water intensity of buildings and tries to use renewable energy wherever possible. Also, as the distribution is spread over the world, it tries to increase the efficiency of its transportation and logistics to minimize related carbon emissions.
2. Ensure stewardship during product sourcing, development and use: Richemont works towards minimizing the life-cycle impacts of products through eco-design. It knows that using natural and upcycled materials with proper eco-design will help in improving environmental performance. For any new product, various factors are taken into consideration in the design stage itself. These factors include life cycle analyses, sensibilities of designers and consumers. The legendary Swiss fashion group, keeps whirling the innovation wheel by exploring new materials and manufacturing techniques, including additive manufacturing. It also tries to minimize the environmental impact by sourcing the products while adhering to the supplier code of conduct. The Group is committed towards reduction in packaging and has a focus on “Reduce, Reuse, Recycle”. It regularly reviews its approach and processes through regulation and alignment with best practices.
The remaining section of “Environmental” is available only in the 'Complete Report' on purchase.
Major Competitors :
- Louis Vuitton
- Gucci
- Bulgari
- Rolex
- Omega
Major Brands :
- Buccellati
- Cartier
- Piaget
- Panerai
- Watchfinder & Co
- Peter Millar
- Purdey
- Serapian
Richemont SWOT and PESTLE Analysis PDF Report is a custom report and will be delivered to your email inbox within 2 business days from purchase.
TABLE OF CONTENTS
DELIVERY AND FORMAT
WHY CHOOSE US?
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References used in Richemont SWOT & PESTLE Analysis Report
1. Richemont gloomy about economic prospects for next three years -
https://www.reuters.com/article/us-richemont-results/richemont-gloomy-about-economic
-prospects-for-next-three-years-idUSKBN22R0P4
2. Annual Report ans Accounts 2019 -
https://www.richemont.com/images/investor_relations/reports/annual_report/2019/ar_fy2019_a8rnc73bd29jwd.pdf
3. 4 Major Challenges Facing The Luxury Market In 2020, And Opportunities For Brands That Lean Into Them -
https://www.forbes.com/sites/pamdanziger/2019/12/20/4-major-challenges-facing-the-luxury-market-in-2020-and-opportunities-fo
r-brands-that-lean-into-them/#5eb2b49a176d
4. Yellow Vest Protests, Sluggish Watch Sales Dent Richemont’s Q3 Growth -
https://wwd.com/business-news/financial/yellow-vest-protests-sluggish-watch-sales-
dent-richemonts-q3-growth-1202955098/
The detailed complete set of references are available on request in the 'Complete report' on purchase.
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Richemont SWOT & PESTLE analysis has been conducted by Sushree Lasyamayee and reviewed by senior analysts from Barakaat Consulting.
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