To view the PDF file, sign up for a MySharenet subscription.

COMPAGNIE FINANCIERE RICHEMONT SA - Richemont and Farfetch in advanced talks to further their partnership

Release Date: 12/11/2021 08:02
Code(s): CFR     PDF:  
Wrap Text
Richemont and Farfetch in advanced talks to further their partnership

Compagnie Financière Richemont SA
Depository Receipts issued by Richemont Securities SA
("Richemont Securities" or "Richemont" or "the Company" or "the Group")
(Incorporated in Switzerland)
Share code: CFR
ISIN: CH0045159024
Depository Receipt Code: CFR


12 NOVEMBER 2021


Richemont is pleased to announce that further progress has been made towards creating a neutral, industry-wide platform, built on the latest omnichannel retail technologies, to support the digitisation of the luxury industry.

In this context, Richemont is in advanced discussions with Farfetch with a view to enhancing the partnership it established last year. The scope of the current discussions includes:

(i)	Farfetch investing directly in YOOX NET-A-PORTER as a minority shareholder, with other investors to be invited to participate alongside;
(ii)	YOOX NET-A-PORTER leveraging Farfetch Platform Solutions to support its ongoing transition to a hybrid 1P/3P business model; 
(iii)	Richemont Maisons leveraging Farfetch technology to accelerate their Luxury New Retail developments; and
(iv)	Richemont Maisons joining the Farfetch marketplace.

Other industry players and investors have already indicated their interest in investing in YOOX NET-A-PORTER alongside Richemont and Farfetch. The ultimate objective is for YOOX NET-A-PORTER to be a neutral platform, with no controlling shareholders.

Richemont continues to work with Farfetch towards definitive agreements and will provide an update in due course, if and when appropriate. There can be no certainty that the discussions will lead to definitive agreements, nor as to the timing or terms of any transaction. Any transaction would be subject to the receipt of clearances from relevant anti-trust authorities.

About Richemont 
At Richemont, we craft the future. Our unique portfolio includes prestigious Maisons distinguished by their craftsmanship and creativity, alongside Online Distributors that cultivate expert curation and technological innovation to deliver the highest standards of service. Richemont's ambition is to nurture its Maisons and businesses and enable them to grow and prosper in a responsible, sustainable manner over the long term.

Richemont operates in four business areas: Jewellery Maisons with Buccellati, Cartier and Van Cleef & Arpels; Specialist Watchmakers with A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis and Vacheron Constantin; Online Distributors with Watchfinder & Co., NET-A-PORTER, MR PORTER, THE OUTNET, YOOX and the OFS division; and Other, primarily Fashion & Accessories Maisons with Alaïa, AZ Factory, Chloé, Delvaux, dunhill, Montblanc, Peter Millar, Purdey and Serapian. Find out more at

Richemont 'A' shares are listed on the SIX Swiss Exchange, Richemont's primary listing, and are included in the Swiss Market Index ('SMI') of leading stocks. Richemont South African Depository Receipts are listed in Johannesburg, Richemont's secondary listing.

Investor/analyst and media enquiries
Sophie Cagnard, Group Corporate Communications Director 
James Fraser, Investor Relations Executive

Investor/analyst enquiries: +41 22 721 30 03;
Media enquiries: +41 22 721 35 07;;

Rand Merchant Bank (A division of FirstRand Bank Limited)
1 Merchant Place, Corner of Fredman Drive and Rivonia Road, Sandton, 2196
Telephone: (011) 282 8231

Date: 12-11-2021 08:02:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

Share This Story