LONDON – Shareholders of Compagnie Financiere Richemont SA gave the green
light to a proposed de-merger of the firm’s luxury goods business from its tobacco and other interests.
As a result, the first phase of Richemont’s re-structuring will begin on Monday, October 20. Richemont, parent of brands including Cartier, Dunhill and Chloe, will continue to be listed on the Swiss stock exchange.
For complete coverage, see Friday’s WWD.