Tuesday, November 27, 2018

Business News: First-Half Watch Sales Rise At Richemont - HODINKEE

A major development in the first half of its fiscal year, Richemont noted, was the steps it took to embrace e-commerce and remake Richemont for today's omni-channel marketplace.

"Richemont strengthened its portfolio with two strategic investments aimed at offering our discerning and globally dispersed clientele more options in how, when, and where they engage with and purchase from our Maisons," Rupert wrote in his commentary. "We now fully own Yoox Net-a-Porter, the leading online luxury retailer, and Watchfinder, a leading omni-channel platform for premium pre-owned timepieces."

Those acquisitions have upped Richemont's percentage of total sales done online to 14%. It now breaks out sales results by three channels, instead of two: wholesale; retail (i.e., in-store sales of its 1,123 directly operated boutiques); and online retail (sales of YNAP and online sales of its Maisons and Watchfinder). 


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