Richemont Group

The Ralph Lauren Sporting Watch

Ralph Lauren is easily one of the most accomplished fashion designers of our time. But what he can't design, he acquires: the American icon of style has one of the most coveted car collections in the world, and from his exceptionally rare (and exceedingly valuable)r Bugatti Type 57SC Atlantic he has drawn the inspiration for the timepiece you see here.

The latest in Lauren's Sporting Watch collection is styled after the interior of the Atlantic, with an elm burl wood ring emulating the car's dashboard, galvanized matte black dial with white Arabic numerals like the Bugatti's gauges, and visible screws around the case front recalling the rivets along the Atlantic's spine. The movement is crafted by the Richemont group – the same company that makes Cartier, Jaeger-LeCoultre, Panerai and IWC, to name just a few – and features a 45-hour power reserve. And like a Bugatti, it commands a suitably high price of $13,200.

Gallery: Ralph Lauren Sporting Watch

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Tags: bugatti, bugatti type 57sc atlantic, ralph lauren, ralph lauren sporting watch, ralph lauren watches, Richemont, richemont group

Richemont One Step Closer To Group Brands Enjoying Online Sales

by Ariel Adams (RSS feed) —

Filed under: Jewelry, Timepieces / Watches

I recall discussions with people in the luxury industry just months ago complaining about how the Internet will never replace the "in store" luxury buying experience. Claims of "we will never sell online" were uttered with regularity. While this was the mantra of many, the undeniable marketing power of the Internet is becoming more and more clear to luxury brand executives who can no longer ignore the allure of online sales (or the failures of in-store sales). When it comes down to it, price is not the only reason people buy online, it is convenience and sheer product availability. You can love a product and want to buy it, though you won't if you can't get it in your town. The Internet remedies all that. Plus, most luxury buyers go online to discover and research brands, so isn't it logical that they will want to purchase there as well?

All this seems pretty clear to the Richemont Group who recently announced the acquisition of NET-A-PORTER.com, an online luxury item retailer. I believe that the deal which involves the acquisition of a controlling volume of share is not 100% complete, but will more than likely lead to Richemont Group owning a controlling interesting in the NET-A-PORTER limited, the controlling company behind the site. NET-A-PORTER.com is UK run, and has been enjoying a healthy level of online luxury sales since its inception is 2000. While it has a silly-for-luxury name, the site clearly understands what it takes to sell luxury items online. The Richemont Groups owns a number of watch and jewelry brands, including IWC, Cartier, Panerai, Jaeger-LeCoultre, and more. At this time NET-A-PORTER.com does not sell watches.

I predict that Richemont was interested in NET-A-PORTER not only because of the site's success (and profits), but also to learn about successful practices for selling luxury goods online. The careful company has been planning an increase in online marketing for its brands, and at least online sales for some of them (e.g. Cartier). I personally predict that most of the Richemont Group brands will be "officially" available for sale online in the future - and that Richemont themselves will be the entity selling the good as opposed to the traditional network of third-party authorized dealers.

Ariel Adams publishes the luxury watch review site aBlogtoRead.com.

Tags: jewelry, NET-A-PORTER.com, online sales, Richemont Group, watch

Billionaire Johann Rupert New CEO Of Richemont Group

by Ariel Adams (RSS feed) —

Filed under: Jewelry, Timepieces / Watches, Wealth

Frequent among the Forbes Magazine list of world's richest people, South African native Johann Rupert has been appointed the new CEO of the Richemont Group, who is owns a bevy of world-class watch and jewelry labels. Among these are Cartier, Panerai, Jaeger-LeCoultre, and A. Lange & Sohne. It is unclear to me why Richemont Group's previous CEO left (sources say he retired), but with Rupert's history in the luxury realm, as well as charismatic personality, he seems like a good fit. Plus, he is wealthy enough to afford his company's own products.

One thing that Rupert made clear, is important for the company's future. Unlike the recent increase of detailed oversight of the brands under the Richemont umbrella, Rupert has indicated that he desires autonomy for the group brands. This is one of the major reasons we saw a rash of CEO resignations from Richemont brands (such as A. Lange & Sohne and Baume & Mercier). Hopefully Rupert is aware of the fact that micromanaging didn't do anyone any good, ever.

Rupert is not exactly a self-made man, but has done well with the incredible wealth that he inherited. His business record is quite impressive. It is well known in the watch industry that times are tough for luxury items. Richemont Group and main competitor Swatch Group have been hit hard, so it will be interesting to see their plans for recovery over the next few years.

Ariel Adams publishes the luxury watch review site aBlogtoRead.com.

Tags: CEO, Johann Rupert, JohannRupert, Richemont Group, RichemontGroup

Baume & Mercier Watches Lose Their CEO

by Ariel Adams (RSS feed) —

Filed under: Timepieces / Watches

What is it, resign as CEO season? Just the other day I wrote about how A. Lange & Sohne lost their CEO, and now the same is happening to Swiss watch brand Baume & Mercier. I still know them by their "original" name "Baume et Mercier." Guess that "&" was put in there for us Americans. These resignations are starting to look awfully fishy if you ask me.

Michel Nieto, the CEO of Baume & Mercier just called it quits after being at Baume & Mercier since 2002. Just like A. Lange & Sohne, Baume & Mercier is part of the Richemont Group, and just like A. Lange & Sohne's loss of their CEO Fabian Krone, Richemont Group identified the reason for Nieto's resignation as a "strategic disagreement." Not that I don't believe PR speak, but either Richemont is handing out a canned response or we are going to see a major change in the organization of the group's brands in the coming months. I can't speculate if this is good or bad, but I anticipate change is 'ah comin' in the luxury watch world. Aside from the Swatch Group, Richemont Group is the largest collection of luxury watch brands.

Ariel Adams publishes the luxury watch review site aBlogtoRead.com.

Tags: baume mercier, BaumeMercier, ceo, michel nieto, MichelNieto, resign, richemont group, RichemontGroup, watch