Richemont Falls Most in Two Months After $569 Million Stake Sale

| News & Analysis

GENEVA, Switzerland — Cie. Financiere Richemont SA, the owner of the Cartier brand, fell the most in almost two months in Zurich trading after a shareholder sold about 7 million shares for 539 million Swiss francs ($569 million). The shares declined as much as 3.1 percent to 77 Swiss francs, the biggest intraday decline since Jan. 21. That was the price at which the stake was sold, according to two people familiar with the transaction. The stock traded 2.6 percent lower at 77.40 francs at 9:29 a.m local time. Goldman Sachs Group Inc., which is managing the placement, had originally set a price range of 76.30 francs to 77.50 a share, according to the terms obtained by Bloomberg News. Alan Grieve,…

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Market Pulse | Dealing in All Shapes and Sizes

| Market Pulse

Savigny Luxury Index January 2013 | Source: Savigny Partners

LONDON, United Kingdom — The Savigny Luxury Index (SLI) gained 2.8 percent in January, outperforming the MSCI World Index (MSCI) by a touch over 1 percent. Positive economic news coming out of China sent the SLI into a mini-rally at the beginning of the month, however mixed corporate results announcements took some of the wind out of its sails. From a mergers and acquisitions perspective though, the year has started off with a

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Lemaire’s charm, Cracks in luxe, Richemont declines, Metrosexuals in China, Missoni mystery

| Daily Digest

[caption id="attachment_40508" align="alignnone" width="461" caption="Christophe Lemaire portrait by Patrick Swirck | Source: Courtesy Hermès"][/caption] The Discreet Charm of Christophe Lemaire (WSJ Magazine) "It's been two years since Lemaire was hired to replace Jean Paul Gaultier as the designer of women's ready-to-wear for Hermès. This accounts for less than 10 percent of the company's sales and is dwarfed by accessories, which have the advantage of being both more iconic... and more accessible, like its silk scarves, watches and enamel bracelets." A Game Changer for Luxury Goods (Financial) "The luxury goods industry lost some of its swagger in 2012. Having shown robust insulation from global economic volatility post-2008, cracks appeared in the form of profit warnings and investor jitters over softer growth…

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Market Pulse | Reassurance

| Market Pulse

Savigny Luxury Index November 2012 | Source: Savigny Partners

LONDON, United Kingdom — The Savigny Luxury Index (‘SLI’) increased by almost 3 percent in November, while the MSCI World Index (‘MSCI’) slipped nearly 1 percent for the month.  From mid-November, global markets and the SLI enjoyed a strong rally on better economic news from China and hopes that the US might avoid the feared fiscal cliff. Big news A flurry of positive economic newsflow has lifted investors’

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