| Mon 11 Aug 2008, 7:30 | | RCH - Richemont Securities AG - Richemont acquires 60 per cent interest in |
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RCH
RCH
RCH - Richemont Securities AG - Richemont acquires 60 per cent interest in
Manufacture Roger Dubuis SA
Richemont Securities AG
(Incorporated in Switzerland)
Share code: RCH
ISIN: CH0013157380
("Richemont")
RICHEMONT ACQUIRES 60 PER CENT INTEREST IN MANUFACTURE ROGER DUBUIS SA
Richemont is pleased to announce that the Group has acquired a controlling
interest in the well known Geneva watch company, Manufacture Roger Dubuis SA in
a private transaction with Mr Carlos Dias, one of the founding shareholders.
Manufacture Roger Dubuis SA will continue to manufacture and distribute watches
under the `Roger Dubuis` name and will operate as an autonomous `Maison` within
Richemont. Roger Dubuis will benefit from broader integration of its
distribution into the Richemont structure as a consequence of the transaction.
Commenting on the transaction, Mr Johann Rupert, Executive Chairman of
Richemont, said:
"Roger Dubuis watches are highly innovative in terms of movements and design.
As a young business, it is very different from the more established specialist
watchmakers within the Group today; as such it complements our Maisons
perfectly. We look forward to developing the Roger Dubuis business
internationally."
The transaction will have no material impact on Richemont`s consolidated net
assets and is not expected to have any significant impact on the Group`s overall
profitability for the year ending 31 March 2009.
Further Information:
Press enquiries: Mr Alan Grieve
Director of Corporate Affairs
Tel. +41 22 721 3507
Analysts` inquiries: Ms Sophie Cagnard
Head of Investor Relations
Tel. +33 1 5818 2597
11 August 2008
Richemont owns a portfolio of leading international brands or `Maisons`, which
are managed independently of one another, recognising their individuality and
uniqueness. The businesses operate in five areas: Jewellery Maisons, being
Cartier and Van Cleef & Arpels; Specialist watchmakers, which is made up of
Jaeger-LeCoultre, Piaget, IWC, Baume & Mercier, Vacheron Constantin, Officine
Panerai and A. Lange & Sohne; Writing instrument manufacturers - Montblanc and
Montegrappa; Leather and accessories Maisons, being Alfred Dunhill and Lancel;
and Other businesses, which includes, specifically, Chloe as well as other,
smaller Maisons and watch component manufacturing activities for third parties.
In addition to its luxury goods business, Richemont currently holds a 19.4 per
cent interest in British American Tobacco.
Date: 11/08/2008 07:30:01 Produced by the JSE SENS Department.
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