Word: richemont
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Toledano's gamble has paid off. Chloe, which reportedly generates about $200 million a year in wholesale revenue, has seen its fall orders rise 80%. Owner Compagnie Financiere Richemont, the world's second largest luxury conglomerate, is adding all the frills of a successful label: more advertising and product lines, new stores, lines of children's clothing, jewelry and watches. The long-term goal is to turn Chloe into a billion-dollar brand...
Claim to fame: The Bulgari Group CEO transformed his family's business from a "club capable of making stable profits" to the third largest maker of fine jewelry, after Tiffany and Richemont...
...British troops, all oil firms are feeling the pinch of prices that have fallen 30% from February's highs. But France's Total has deals to exploit huge oil fields in Iraq, negotiated under Saddam Hussein but never implemented. Don't expect the U.S. to honor them. RICHEMONT: An end to the war won't end the troubles for this Swiss luxury-goods group, whose brands include Cartier and Montblanc. Even before the Asian flu outbreak - which hits luxury goods by cutting business travel - the company warned profits would be down about 40% because of hard times. Analysts say Richemont...
...vehicle that appeared some years ago, and it will go as it came." But others aren't so sure. "Chloé's appeal was built around Stella McCartney - her personality, her friends, her social circle," says Sagra de Rosen, a luxury-goods analyst at J.P. Morgan who covers the Richemont Group, which owns Chloé, along with Cartier, Dunhill and other brands. "After she left, it lost a bit of that appeal...
...fashion statement for young people to latch on to. But signs are encouraging. April's opening of the flagship store in London generated the requisite buzz. Guy Ritchie, also known as Mr. Madonna, wore a Dunhill' suit at his wedding. And Leymarie has already been promoted to head up Richemont's Cartier division. (Are there Cartier tongue studs in our future...