LONDON — Compagnie Financière Richemont SA, parent of luxury goods companies including Cartier, Chloé and Van Cleef & Arpels, said it would proceed with its plan to create two separate businesses — a luxury goods business and an investment vehicle listed on the Luxembourg Stock Exchange.
The move means 90 percent of Richemont’s 19 percent stake in British American Tobacco will be distributed to Richemont’s shareholders as warrants for shares in a new investment vehicle called Reinet. The company’s remaining shares in BAT will be held by Reinet, with Johann Rupert as chairman of the company, which will be controlled by Rupert family interests.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"