Spotlight Richemont: Luxury Brands, Gen Z-StyleApril 06, 2021
Switzerland’s Richemont was founded in 1988, after being spun off from the Rembrandt Group by Johann Rupert, who remains chairman today. The luxury products group’s 25 “maisons” or houses, are united in the firm’s quest for creativity, innovation and excellence. In addition to luxury brands like Cartier, Chloé, Dunhill, Montblanc and Peter Millar, the group is building leadership through online distribution. Via the websites YOOX NET-A-PORTER and Watchfinder, for example, Richemont focuses on curating digital service, engagement and customer experience.
Realizing that the brand assets of each house are up to a century old, the group’s ambition is to support growth and innovation while remaining true to each brand’s distinctive heritage. To this end, Richemont collaborates with technology firms in R&D areas such as embedded electronics, augmented reality, deep learning and recycled materials.
As a responsible luxury goods company, Richemont seeks to improve lives across all points in the luxury value chain. Indeed, in a recent study on Generation Z consumers, Richemont found its next generation of customers and stakeholders place a greater priority on climate change and other environmental issues. In response, Richemont launched a “Transformational Strategy” in 2019, establishing urgent targets for sustainability in four areas: people, communities, sourcing and the environment.
As of 3/31/21, Compagnie Financiere Richemont was held in the Knowledge Leaders Strategy.