Swiss - Delayed Quote ? CHF Compagnie Financière Richemont SA (CFR.SW) Follow Compare 125.00 -1.55 (-1.22%) At close: November 4 at 5:31 PM GMT+1 All News Press Releases SEC Filings All SEC Filings Corporate Changes & Voting Matters Periodic Financial Reports Proxy Statements Tender Offer/Acquisition Reports Offering Registrations Norqain takes on the NYC Marathon — and bigger Swiss watch rivals For Swiss watch startup Norqain, a partnership with the just-completed TCS New York City marathon just makes sense. Yahoo Finance ? 9 hours ago SWGAF SWGAY SWGNF Exclusive: Richemont will automate a part of its hiring process across brands like Cartier and Van Cleef & Arpels Richemont will partner with California-based Veritone to use AI to sift through scores of candidates looking to be hired by the company. Fortune ? 4 days ago CFRUY Why America is the place to be for luxury watch brands Last weekend's WatchTime NY event highlighted the importance of the American market to luxury watchmakers. Yahoo Finance ? 9 days ago CFRHF CFRUY SWGAF AZ Academy Unveils Finalists for First Business for Designers?Program The 19 fashion talents will start their post-graduate courses in January. WWD ? 18 days ago CFRUY Heard on the Street: Swiss Watches Wind Down in China Swiss watch exports to China hit the lowest levels since the depths of the Covid-19 pandemic, another sign Chinese luxury consumers have pulled back sharply. The value of watches shipped from Switzerland to Chinese retailers in September halved from a year earlier, data from the Federation of the Swiss Watch Industry showed Thursday. Shipments to Hong Kong, traditionally a hub for luxury watches, fell by a third. The Wall Street Journal ? 18 days ago PPRUF PPRUY SWGAF LVMH Results Cast Cloud on Luxury Stocks European luxury stocks fell after third-quarter results from industry bellwether LVMH dashed hopes that a sector recovery is under way and renewed concerns over the Chinese market. The Wall Street Journal ? 19 days ago CFRHF CFRUY LVMHF Michael Kliger on What’s Ahead for YNAP Under Mytheresa Ownership and Why YNAP?Floundered Mytheresa's CEO says back-of-the-house integration of Yoox Net-a-porter will increase profitability and reduce complexities. WWD ? 28 days ago CFRHF Stocks to Watch Monday: Pfizer, Hims & Hers Arcadium Lithium, Amazon ↗? Pfizer (PFE): Activist investor Starboard Value has taken a roughly $1 billion stake in Pfizer and wants the struggling drugmaker to make changes to turn its performance around, The Wall Street Journal reported. The Wall Street Journal ? 28 days ago PFE CVX CFRHF Cartier Owner Richemont Is Selling Its E-Commerce Business Richemont owner of luxury jewelers Cartier and Piaget, has finally found a buyer for its e-commerce business Yoox Net-A-Porter. Richemont has been looking to offload YNAP for the better part of the past couple of years as the operation has struggled to turn a profit. Under the new deal, the Swiss luxury group is selling YNAP, which has a cash position of €555 million ($609 million) and no debt, to Mytheresa in exchange for a 33% stake in the online platform. Barrons.com ? 28 days ago CFRHF Richemont sells Yoox Net-A-Porter for $610M The luxury house sold the segment to Mytheresa and will?gain a 33% stake in the e-commerce company. Fashion Dive ? 28 days ago CFRHF Heard on the Street: Cartier’s Owner Pays For an Expensive Digital Detox The final bill has arrived for Richemont’s 14-year online shopping spree: $4.2 billion of write-downs. An earlier attempt to sell nearly half of the loss-making e-commerce business to Farfetch fell through, after the buyer ran into financial difficulty. Getting the deal done now required generous terms. The Wall Street Journal ? 28 days ago CFRHF CFRUY MYTE Fashion empire founded by Dame Natalie Massenet sold to German rival The fashion empire founded by Dame Natalie Massenet has been sold to a German rival, bringing an end to years of uncertainty over the future of Yoox Net-a-Porter. The Telegraph ? 28 days ago CFRHF Mytheresa to acquire digital luxury retailer YNAP Mytheresa will be integrated with YNAP’s Luxury division, creating a unified entity with three distinct online storefronts. Retail Insight Network ? 28 days ago CFRHF Richemont Offloads Yoox Net-A-Porter to Germany’s Mytheresa (Bloomberg) -- Richemont agreed to offload its troubled online fashion business Yoox Net-A-Porter to Mytheresa in exchange for shares in the German e-commerce company.Most Read from BloombergSingapore Ends 181 Years of Horse Racing to Make Way for HomesUrban Heat Stress Is Another Disparity in the World’s Most Unequal NationFrom Cleveland to Chicago, NFL Teams Dream of Domed StadiumsWhat Do US Vehicle Regulators Have Against Tiny Cars?For a Master of Brutalist Provocations, a Modest Museum Appra Bloomberg ? 28 days ago CFRUY Mytheresa Acquires Yoox Net-a-porter From?Richemont Michael Kliger, CEO of Mytheresa, said the deal will transform the e-commerce platform into a "pre-eminent, multibrand, digital luxury group" with a potential gross merchandise value of 4 billion euros. WWD ? 28 days ago CFRUY MYT Netherlands Parent B.V. ("Mytheresa") and Richemont sign agreement for Mytheresa to acquire YOOX NET-A-PORTER ("YNAP") to create leading, global, multi-brand digital luxury group in exchange for a 33% equity stake in Mytheresa MUNICH & GENEVA, Switzerland, October 07, 2024--Today, Mytheresa (NYSE:MYTE) and Richemont (SWX:CFR) announce that they have entered into binding agreements for the acquisition of 100% of the share capital of YNAP by Mytheresa. The transaction aims to create a leading, global, multi-brand digital luxury group offering a highly curated and strongly differentiated edit of the most prestigious luxury brands and products to luxury enthusiasts worldwide. Business Wire ? 28 days ago MYTE CFRHF CFRUY Mytheresa Seen Nearing a Deal for?YNAP An acquisition would establish Mytheresa as the largest volume luxury e-commerce website. WWD ? last month CFRHF This New Richemont-backed Service Is Putting All Things Handmade at Your?Fingertips Via Arno aims to connect more than 300 artisans with consumers and businesses alike. WWD ? last month CFRHF EXCLUSIVE: Isabel Marant, Lutz Huelle, Nicolas Bos Headline AZ Academy?Jury The educational program aimed at supporting independent and young fashion talents is set to reveal finalists for the Business for Designers project on Oct. 15. WWD ? last month CFRHF Great investing debate: Growth or value stocks post-rate cuts? It's an age-old question among investors: which is better, growth investing or value investing? After the Federal Reserve's interest rate cut this week kicked off a highly-anticipated easing cycle, Catalysts hosts Seana Smith and Madison Mills spoke with a panel of experts about how the two investment strategies could play out in the months to come. Vontobel portfolio manager Markus Hansen and Greenwich Wealth's CIO Vahan Janjigian join Catalysts to lay out their investment thesis. Vahan favors value over growth — but says he's not a strict value investor. "What I really favor is stocks that are undervalued," he says, "and in many cases, that can be growth stocks." In terms of investments, Vahan notes he's leaning toward traditional value stocks, like IBM (IBM), Verizon (VZ), and Pfizer (PFE). And in the wake of the Fed's latest rate cut, Vahan sees small caps (IWM) as benefitting from changes to the yield curve. "I think as things normalize, we'll get back to what's considered normal. And that means value stocks outperform growth stocks and small cap stocks outperform large cap stocks." Markus and his team at Vontobel are quality growth focused. He says post-rate cut, he expects dividends will get a lot of love from investors. That's why he's favoring "good old fashioned names" like Coca-Cola (KO), Walmart (WMT), Home Depot (HD), and PepsiCo (PEP) for their sustained dividend growth. Luxury is also a sector he finds compelling for its wide economic moat. "It requires time to build that heritage, and to be the top brand," he says, and that longevity makes companies like Hermes (RMS.PA), Ferrari (RACE), and Richemont (CFR.SW) compelling. For more expert insight and the latest market action, click here to watch this full episode of Catalysts. This post was written by Kathleen Welch Yahoo Finance Video ? last month RACE HESAF HESAY Performance Overview Trailing total returns as of 11/4/2024, which may include dividends or other distributions. Benchmark is MSCI WORLD Return CFR.SW MSCI WORLD YTD +10.57% +15.36% 1-Year +13.81% +26.78% 3-Year +13.11% +13.81%
