Richemont: sells Lancel and buys Watchfinder

(CercleFinance.com) - Richemont has announced that it has at the weekend its finalized the sale of its French subsidiary Lancel to the Italian group Piquadro, a transaction that has no significant impact on its balance sheet, cash flows or results in the current financial year (to end-March 2019).


Last Friday, the Swiss luxury group, which in particular operates the Cartier and Van Cleef & Arpels houses, announced an agreement to acquire the British specialist in luxury watches, Watchfinder, a deal that is set to be finalised this summer.


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