Richemont SWOT & PESTLE Analysis

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.

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Weakness

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Opportunity

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Threats

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Political

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Economic

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Social

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Technological

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Legal

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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.