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RICHEMONT AND FARFETCH IN ADVANCED TALKS TO FURTHER THEIR PARTNERSHIP

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Compagnie Financière Richemont SA / Key word(s): Miscellaneous

12-Nov-2021 / 07:02 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.

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:

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 www.richemont.com.

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; investor.relations@cfrinfo.net

Media enquiries: +41 22 721 35 07; pressoffice@cfrinfo.net; richemont@teneo.com


End of ad hoc announcement

Language:

English

Company:

Compagnie Financière Richemont SA

Chemin de la Chênaie 50

1293 Bellevue

Switzerland

Phone:

+41227213506

E-mail:

pressoffice@cfrinfo.net

Internet:

http://www.richemont.com

ISIN:

CH0210483332

Valor:

21048333

Listed:

SIX Swiss Exchange

EQS News ID:

1248551


 

End of Announcement

EQS Group News Service

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