Richemont

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

Piaget Celebrates 20 Years Of "Possession" With Sienna Miller

by Ariel Adams (RSS feed) —

Filed under: Jewelry, Timepieces / Watches

To highlight its famous watch and jewelry line, Piaget has recruited Sienna Miller to be the face of their new messaging campaign. The Possession collection has been a mainstay of Piaget for years. Offering luxury items of good taste and a timeless quality. Not just Piaget's well known evening gown gear (as I call it). Richemont Group, the parent of Piaget has been very keen on celebrity tie-ins with its brands after noticing just how much attention they get. Sometimes their choice of face to go with any particular brand... is interesting. In Piaget's opinion, Sienna Miller is "one of the most fashionable woman in the world." I don't know about that, but she is surely the type of women to get that well-to-do 30 or 40 something woman interested in Piaget. Piaget enlisted some world-class photographers and stylists for the campaign. Click on the "read more' link below to see an enlightening video talking about the making of the campaign with some nice images.

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

Tags: jewelry, piaget, possession, richemont, sienna miller, watch

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Luxury Moves Into Online Shopping: Richemont Buys Net-A-Porter

by Deidre Woollard (RSS feed) —

Filed under: Apparel

We're big fans of online luxury retailer Net-a-Porter and apparently we aren't the only ones. Luxury conglomerate Richemont, the name behind brands like Cartier and Montblanc is bringing the e-tailer deeper into the fold. Richemont previously held a 33% stake in the company (it first starting investing in the company in 2002) but has agreed to acquire the majority of the company from a group of private shareholders for around $340 million according to an article in the Wall Street Journal.

Net-a-Porter was founded in 2000 by former fashion journalist Natalie Massenet. It offers fashionable women's clothing and accessories and also has an editorial component with advice on lifestyle and trends. It's that combination of retail and editorial that has made Net-a-Porter a popular shopping destination. Net-a-Porter plans to expand in the U.S. Cashing in on the discount luxury trend (a segment that includes websites like Gilt Groupe and Rue La La), Net-a-Porter also runs theOutnet.com, a site that sells discounted designer clothing. Natalie Massenet will stay on with the company as executive chairman.

Tags: e-tailer, e-tailers, natalie massenet, Net-a-Porter, online boutiques, Richemont

Luxury Vet to Head JamesList's New Advisory Board

by Jared Paul Stern (RSS feed) —

Filed under: Wealth

Stockholm-based global online luxury marketplace JamesList - the place to go when you're in the market for a couple dozen Lamborghini Reventons - has appointed luxury industry veteran Rob Hersov (right) as the chairman of its newly-formed advisory board, consisting of leading figures from the world of private aviation, yachting, luxury cars and high-end watches.

Hersov previously served as vice chairman of NetJets and as a main board member for the Richemont group of world class luxury brands. "JamesList has redefined the global luxury marketplace," he notes. "It offers a unique way to buy and sell the very best luxury products. I am excited about what has been achieved so far and what can be achieved as we grow the business further over the coming months."

JamesList CEO and founder Noam Perski, profiled in our 10 Luxuries feature last month, is equally optimistic. "I am delighted with Rob's appointment," he declares. "His impeccable flare for the luxury market place will be instrumental in growing the JamesList phenomenon. JamesList succeeds because it provides something unique for buyers who are simply interested in owning the best."

Tags: JamesList, luxury goods, Noam Perski, Richemont, Rob Hersov, Sweden

Richemont To Grab A Piece Of Prada?

by Deidre Woollard (RSS feed) —

Filed under: Apparel

In the luxury conglomerate world there are three main players. The leader is the massive LVMH (Louis Vuitton Moet Hennessy) followed by PPR (owner of Gucci, Bottega Veneta, Boucheron and others) and Richemont (the owner of Cartier, Montblanc, Dunhill and more). Now Richemont may have a major coup with the acquisition of a piece of Prada.

Prada has been struggling with its finances for a while. For a time the brand was flirted with going public but the IPO kept being delayed. Last summer it renegotiated some of its debt in order to have cash available to open more stores. The brand's debt of 450 million euros was extended to 2012. Prada's majority owners are Miuccia Prada, the label's designer and her husband and Prada chief exec Patrizio Bertelli. The NY Post reports that the potential deal would have Prada surrendering around a third of the label to Richemont. Richemont would be taking a passive stake but there is the possibility that the luxury conglomerate could eventually take over the whole brand.

The Prada name continues to have a lot of clout in the luxury fashion world and so the acquisition would be a feather in the cap of Richemont. Richemont is probably also one of the few groups with enough money to pay Prada's high price. Last summer Italian lenders valued Prada at around $3.8 billion. The deal would potentially also give Prada the ability to tap into a larger luxury group and expand into China and other markets more quickly. The only question is how well Prada and Bertelli will fit into working with Richemont. The designer and her executive husband are accustomed to having total control over the brand and the direction it takes but if they can work well with Richemont it could be a formidable alliance.

UPDATE: A Businessweek story includes a quote from a Prada spokesperson denying the NY Post story and saying that Prada is not for sale.

Tags: miucca prada, MiuccaPrada, prada, richemont

Stock up on Jewelry: Hyperinflation on the Way

by Tom Johansmeyer (RSS feed) —

Filed under: Jewelry, Lux Tips

If the fears of hyperinflation are realized, you'll look back with pride on your luxury purchases. All that money you've sunk into custom jewelry and top-of-the-line stones will make you look like an absolute genius. Well, that's the position of South African billionaire Johann Rupert, and I'd take the advice of a guy who can be described that way.

According to Bloomberg News, the told investors, "If we enter hyperinflation, you're going to be so glad that you bought that stuff two months or six months ago." He added, "If inflation picks up, you're going to see people running into your stores, buying high jewelry."

Will inflation cause a mob to form outside the Cartier store on Fifth Avenue? Well, I don't think I'd worry too much about the pushing and shoving, but being ready to throw an elbow probably isn't a bad idea.

Of course, Rupert has something to gain – his company, Richemont, is the world's second largest luxury goods maker (behind LVMH). In his talk with investors in the company controlled by his family, he forecasted "normal growth" with luxury sales showing signs of recovery this month and next.

Tags: billionaire, billionaires, cartier, Fifth Avenue, FifthAvenue, hyperinflation, inflation, luxury goods, LuxuryGoods, lvmh, LvmhMoetHennessyLouisVuitton, Richemont, wealthy

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Is The Adjani The New Birkin?

by Deidre Woollard (RSS feed) —

Filed under: Handbags

Even in this economic climate there is still room for an it bag, it's just a more modest success than past frenzies. Lancel's Adjani bag named after the French actress Isabelle Adjani has sold out giving Lancel what the Guardian terms a "slight rise in comparable retail sales since January." Lancel's chief executive says the growth is between zero and five percent, barely a blip in other times but a welcome bit of retail uptick these days when only a few handbag brands like Hermes and Louis Vuitton have been able to sustain increases.

The versatile multi-pocketed tote comes in a variety of materials in a price range from 800 euros to 8,000 euros. It was inspired by Isabelle Adjani and she is the spokesperson for it. The company expects more than 10,000 Adjani bags in France by the end of the year, having already sold the equivalent of two years of stock in a few months. The success of the bag has encouraged the Lancel brand to skew toward the high end and the company will open new shops in Tokyo, Moscow and Dubai over the summer. So far Lancel, which makes its bags in Spain and Italy, does not have a presence here in the U.S.

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Tags: handbag, isabelle adjani, IsabelleAdjani, lancel, richemont

Cartier To Halve Production Workforce

by Ariel Adams (RSS feed) —

Filed under: Jewelry, Timepieces / Watches

By the sound of it you'd think that Cartier was next to being bankrupt, though that isn't the case. More like the optimistic balloon of sales growth is deflating (one of the reasons I used the "Ballon Bleu" watch for the image - and added the sad face). During the last few years of rapid growth and increased demand for Swiss watches and luxury goods, production increased and luxury firms like Cartier staffed themselves accordingly for what looking like prefect blue skies ahead. Now, about 5 years after that all started, the bubble has burst, and Cartier is being forced to let go of many of those people it hired at its production facility in La Chaux-de-Fonds to help supply the perceived demand for luxury watches. Note that this is one of three Cartier production sites.

While Cartier's market success is not exactly a bellwether of the luxury industry, it is a pretty good indicator of current trends. Lots of companies are reducing their work forces, but the reality is that they are just getting closer to the way things where before the economy inflated itself so much. Now in survival or recession mode, luxury brands such as Cartier need to save cash while planning on better times ahead - instead of focusing on making lots of watches right now. Recall again that this cut at Cartier of about 400-500 people (or roughly 50%-60% of their work force) is in the production area, not necessarily at other areas of the Richemont Group owned company including administration, marketing, and sales. Many retained employees will received roughly 94% of their pay until things get better. Then then Ballon Bleu watch above can turn that frown... upside down!

Via WorldTempus here & here (in French).

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

Tags: cartier, company, cuts, employees, group, jobs, layoffs, luxury, richemont, watch

Richemont Owned Roger Dubuis Watch Brand To Cut Jobs

by Ariel Adams (RSS feed) —

Filed under: Timepieces / Watches

Last year the Richemont Group added Roger Dubuis to its luxury watch collection of brands. Richemont owns such prestigious brands as A. Lange & Sohne, Jaeger LeCoultre, and Panerai. The acquisition of the Roger Dubuis occurred in the midst of wild growth in key markets such as Asia and the Middle East. With surges expected, Roger Dubuis promoted a liberal hiring policy adding new staff quickly.

Recent revenue disappointments have resulted in a decision to lay off as much as one sixth of the Roger Dubuis work force, or about 70 people. The move will emphasize a marketing refocus for the brand that hopes to increase its presence in retail stores as well as complete production on highly sought after high-end models.

Roger Dubuis seems eager to express that this move does not signify an end to the esteemed watch maker, nor does it indicate a slew of bad management decisions. No one is immune from the current economic market, and Roger Dubuis was perhaps a bit too optimistic with its growth and watch production capacity. Unlike "Tier One" luxury watch brands with the most valuable brand names, Roger Dubuis is less known (making them "Tier Two'), even though they still offer a very high quality and complex watch product line. This can negatively affect the value proposition of buying their watches in hard times for some consumers.

Despite this news, Roger Dubuis customers are still eagerly awaiting the release of its most expensive watch date, a $500,000 complex multi-timezone perpetual calendar timepiece. Pictured, is a Roger Dubuis Excalibur with a 45mm white gold case, minute repeater, perpetual calendar, tourbillion, and double rotors.

Via Bloomberg News.

Ariel Adams publishes the watch review site aBlogtoRead.com.

Tags: cut, cuts, EX45 0829 0 N9C.71R, Ex4508290N9c.71r, excalibur, industry, jobs, richemont, roger dubuis, RogerDubuis, timepiece, watch

Ralph Lauren Watches Part 3: The Classic Slim Collection

by Ariel Adams (RSS feed) —

Filed under: Timepieces / Watches

This is the last of the first collections for the newly unveiled Ralph Lauren watch brand. The Classic Slim collection here is very different from the Sporting or Stirrup collection, though they all share use of Roman numeral dials. The Classic Slim collection houses the very thin RL430 movement derived from Piaget, another company by joint parent the Richemont Group. This slim Ralph Lauren watch is only 5.35mm thick.

The most noticeable element of the Classic Slim collection watches is the beautiful use of guilloche engraving machine work on the dial and bezel. The 42mm 18k rose gold case and silvered dial each share similar engraving patterns. Guilloche work is often done by hand on very old machines that must be kept running, as new ones aren't manufactured often or any longer.

Style is similar to Breguet, complete with the engraving, broad Roman numerals, and pomme hands. It is a nice look from the brand that makes luxury sensible. The decorated, yet practical look of the Classic Slim watch works well with the demure logo. Around your wrist goes a dark-colored crocodile strap attached to lugs that appear just a bit too small, but enhance the roundness of the dial.

Ariel Adams publishes the watch review site aBlogtoRead.com.

Gallery: Ralph Lauren Classic Slim watch collection

Tags: classic slim, ClassicSlim, collection, polo, ralph lauren, RalphLauren, richemont, timepiece, watch

Ralph Lauren Watches Part 2: The Sporting Collection

by Ariel Adams (RSS feed) —

Filed under: Timepieces / Watches

First for the new Ralph Lauren watch brand I discussed the Stirrup Collection. Featured here is the second line, the Sporting Collection. I commented on how the Stirrup Collection looked like a design melding between Cartier and Hermes; well the same is true here. True to its name, the Sporting Collection is more sporty then the Stirrup of Classic Slim collection. Six large screws keep the bezel looking strong, yet can pass for being functional if necessary. It's strong looks aren't aggressive looking though, which is nice as this watch says "I bathe horses for fun."

I am on the fence about the application of the Ralph Lauren logo, and whether I admire it or not. It is certainly retro, reminding you of a time when branding was less of an issue that it is today. The models come in three flavors. A subsidiary seconds model (the Classic) , the Chronograph, and the World Timer with power reserve. Metals are either steel or gold. Again, Richemont gives Ralph Lauren access to the parts bin, and the Sporting Collection features IWC mechanical movements such as the RL98295 for the world timer. My pick is the black-faced chronograph on the metal bracelet, that is a sure hit.

Ariel Adams publishes the watch review site aBlogtoRead.com.

Gallery: Ralph Lauren Sporting Watch Collection

Ralph Lauren Sporting Collection Chronograph watch

Ralph Lauren Sporting Collection Gold watch

Tags: collection, polo, ralph lauren, RalphLauren, richemont, sporting, timepiece, watch

Ralph Lauren Watches Part 1: The Stirrup Collection

by Ariel Adams (RSS feed) —

Filed under: Timepieces / Watches

As the luxury watch market feels the pressure from the economy on its shoulders, you wouldn't expect to see new brands popping up. Regardless, this partnership between Polo Ralph Lauren and the Richemont Group took seed before the economic hit really began and there was no stopping this seemingly immune connection of fashion and haute horology.

The new Equestrian line from Ralph Lauren is separated into three collections. The first of which is the aptly named "Stirrup Collection" due to the shape of the watch case. No, it isn't the tombstone collection. These are no mere fashion watches as can be seen from their unveiling at which occurred at the luxury watch show SIHH 2009. Richemont is the name behind many luxury brands, some of which the Ralph Lauren collection borrows from literally and thematically.

Inside the Ralph Lauren Stirrup collection watches are all Jaeger LeCoultre (Richemont owned) movements, such as the caliber RL750 in the power reserve version of the watch. The 18k rose gold case has a domed anti-reflective coated sapphire crystal, with a water-resistance of 30 meters. The watch designs look to me like a cross between Cartier (Richemont owned) and Hermes (not Richemont owned). Think of the Roman numbers (Cartier) and the shape of the case that looks like the Hermes lock-shaped watch. The stirrup collection is mounted on a wide crocodile band that is almost like a bund strap given how the lugs are attached. It's attractive and sober looking - just what the economy needs right now.

Ariel Adams publishes the watch review site aBlogtoRead.com.

Gallery: Ralph Lauren Stirrup Collection watch

Tags: collection, equestrian, polo, ralph lauren, RalphLauren, richemont, stirrup, timepiece, watch

Cartier And The Future Of Luxury

by Deidre Woollard (RSS feed) —

Two years ago luxury brands were aiming at the masses and Dana Thomas wrote an entire book on how luxury was losing its luster. With these sobering economic times, will luxury get some of its "luster" back? That seem to be the message from Cartier CEO Bernard Fornas who told Reuters at the SIHH watchfair that " the real, true luxury is back" and that consumers are being tougher with their choice of brands.

His words come as Cartier parent company, Richemont posted at 12 percent drop in third-quarter sales and announced that 180 out of around 200 staff making watch casings at a Cartier plant in Switzerland would be put on part-time work starting next month. Richemont's statement included the grim forecast that :"given the current economic climate and the uncertainties facing us, we see no cause for optimism."

Swiss watch exports have fallen and Richemont has seen demand for their brands including Cartier, Montblanc, Piaget, IWC, Baume & Mercier and others sink over the past year especially in the United States. Bernard Fornas found hope at the Geneva watchfair, saying that it was better than expected. As my colleague Ariel Adams recently mentioned, Cartier is refining and adding to its classic lines introducing a new Cartier Tank Americaine Tourbillon Volant Watch to tempt watch buyers.

It seems that some brands are facing a new crossroads: either come up with lower priced goods to tempt the customers they spent the last few years acquiring or retreat, slow production, cut jobs and focus on the smaller, wealthier customers who will continue to spend, albeit a bit more carefully.

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Tags: cartier, luxury, richemont

Polo Ralph Lauren Partners With Richemont Group, Will Release Luxury Watch Line

by Ariel Adams (RSS feed) —

Filed under: Apparel, Timepieces / Watches

Polo Ralph Lauren was recently admitted to the Salon International de la Haute Horlogerie (SIHH), a prestigious luxury watch industry trade show. Interestingly enough Ralph Lauren does not currently offer any luxury watches. That is all going to change soon as Ralph Lauren has partnered with the prestigious watch making Richemont Group to produce watches with a license from popular fashion house. The new watches will be distributed through a number of global retailers under the "Polo Ralph Lauren Watch and Jewelery Company" name.

Richemont is the controlling group behind a number of high performing luxury watch brands such and IWC, Officine Panerai, and Cartier. The ensuing Polo Ralph Lauren watches will be established as luxury models, though no images of the designs have been made available just yet. This will all change in less than two weeks as the new watch brand is set to release its first line of models at the 2009 SIHH show later this month in Geneva.

Ariel Adams publishes the watch review site aBlogtoRead.com.

Tags: polo, ralph lauren, RalphLauren, richemont, sihh, timepieces, watches

LVMH Exploring Acquisition of Bamford

by Jared Paul Stern (RSS feed) —

Filed under: Apparel

Bastion of top-drawer British style Bamford & Sons is looking for an investor, and luxury goods behemoth LVMH, owner of Louis Vuitton, might buy in. "We've come to the end of phase one, and we need a partner with more expertise in other markets," Lady Carole Bamford, who founded the brand in 2004, tells the Financial Times. She has engaged the Blackstone Group to help the firm, which has experienced 50-55 per cent growth per year for the past two years, field investment offers.

LVMH and rival luxury conglomerate Richemont are in the running, the paper reports. We have previously written about Bamford's custom $30,000 black PVD Rolex Daytona and its fall line of cashmere shooting jackets and such made from sustainable materials. They currently have men's, women's, accessories and bath & body collections, carried at their own retail stores (above) and the likes of Barneys. Bamford bills itself as "the first mainstream luxury brand to make an identity out of its organic stance."

Gallery: Bamford & Sons