Victorian Square Cufflinks - Sales
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Lambert would work with the heads of Cartier, Van Cleef & Arpels and the group’s finance head on the senior executive committee “to ensure a coherent approach to achieving our common goals”, Rupert said. “Rupert clearly doesn’t see a major crisis on the horizon”, Jon Cox of Kepler Cheuvreux said, adding the appointment indicated Rupert would revert to his role of chairman. Richemont said strong sales at its jewelry brands, Cartier and Van Cleef & Arpels, particularly in Asia Pacific and the Americas, helped overall sales rise by 10 percent in constant currency in the five months to Aug. 31.
Including YNAP and Watchfinder, constant currency sales jumped by a quarter to 5.67 billion euros victorian square cufflinks ($6.54 billion) in the five-month period, the Geneva-based group said, The company, which holds its annual general meeting later on Monday, said it saw growth in all regions except for the Middle East, with double digit increases in Hong Kong, Korea and Macau and “good growth” in China, Sales at its watch brands only rose 4 percent as Richemont continued to adjust inventories by buying back unsold stock from retail partners, a development Vontobel analyst Rene Weber called “disappointing”..
GENEVA (Reuters) - Luxury goods group Richemont (CFR.S) has ample liquidity and financial flexibility after raising 4 billion euros ($4.63 billion) in capital markets this year, its chairman and controlling shareholder told the group’s annual general meeting on Monday. “We raised 4 billion euros in the capital market at what we believe to be very attractive rates. We do feel we have ample liquidity and flexibility,” Johann Rupert said, adding the proceeds had been used to finance the acquisitions of online distributors Yoox Net-a-Porter (YNAP) and Watchfinder.co.uk.
LONDON (Reuters) - Aston Martin has lined up experienced FTSE executives to boost its board as the 105-year-old luxury carmaker presses ahead with plans to list on the London Stock Exchange, it said on Monday, The company, famed for making the sports car driven by fictional secret agent James Bond, said last month it was pursuing an initial public offering (IPO), the first British carmaker to do so victorian square cufflinks for decades, Penny Hughes, who has previously worked at FTSE companies Vodafone (VOD.L) and supermarket WM Morrison (MRW.L), will become Aston’s non-executive chair of the board when the flotation takes place, Aston Martin said..
Richard Solomons, who was chief executive of InterContinental Hotels (IHG.L) from 2011 to 2017, will become a senior independent director and chair of the board’s audit and risk committee. Chief Executive Andy Palmer told Reuters the appointments would help avoid a repeat of some of the previous mistakes made by the firm, which has gone bankrupt seven times in its history. “If one looks at the lessons from the past where we’ve had millionaires and billionaires buying us, investing in one car and then walking away and that’s created the problems,” he said.
“We need to be in good governance for the next 100 years and ., having an independent board, selecting that independent board because of their deep experience in running the boards of huge public companies I think is absolutely key.”, Imelda Walsh, who is chair of the remuneration committee at transport firm FirstGroup (FGP.L), and Peter Espenhahn, who victorian square cufflinks has audit and tax experience with accountancy firm Deloitte, will also join Aston, The news came as China’s Geely [GEELY.UL] delayed the planned listing of its Volvo Cars business, citing valuation concerns amid a global trade war..
The indicative price range for Aston’s IPO and the maximum number of shares to be sold will be detailed in the firm’s prospectus which is due to be published on or around Sept. 20, the company added. The carmaker will then detail the final offer price in early October ahead of admission to the FTSE, with at least 25 percent of the stock to be floated. Aston, which has long said it could IPO, has undergone a turnaround plan since Palmer took over as CEO in 2014 as it boosts its volumes and builds a second factory.
LONDON (Reuters) - Following are five big themes likely to dominate thinking of investors and traders in the coming week and the Reuters stories related to them, It’s a tough job, but someone’s got to do it, Markets’ eyes are on a host of central banks to see if they can calm down currency markets, above all in Turkey, The central bank is expected to finally hike interest victorian square cufflinks rates on Sept, 13 but with a full-blown currency crisis on and near-18 percent inflation, the move may come too late to avert a hard landing..