COMPAGNIE FINANCIERE RICHEMONT : Richemont has selected KPMG as new external auditor
November 29, 2024 at 03:02 am EST
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Richemont has selected KPMG as new external auditor
29 NOV 2024
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In the 2022 annual report Richemont disclosed that it, recognising shareholder expectations, had decided to initiate a comprehensive tender process for its external audit function, under the supervision of its Audit Committee.
Following this process whereby the Audit Committee considered the results of the tender and recommended to the Board of Directors the preferred firm for the Richemont audit engagement, Richemont is pleased to announce that it will propose to the shareholders at the next Annual General Meeting in September 2025 that KPMG be appointed as auditor of the Company. The appointment will be for the financial year ending 31 March 2026.
Commenting on the decision Burkhart Grund, Chief Financial Officer of Richemont, said:
"Recognising shareholders' expectations and in line with industry best practice, we decided to initiate a tender process which resulted in a recommendation to appoint KPMG as the new Group external auditor. This was not an easy decision, and we are deeply grateful for our longstanding trusted partnership with PricewaterhouseCoopers, who have acted as our external auditors since 1993. We recognise and appreciate their invaluable contributions throughout the various stages of our development into the luxury group we are today. We are confident that KPMG will be a valuable partner in supporting us in the next phases of our evolution and, subject to shareholder approval, we very much look forward to our future collaboration."
About Richemont
At Richemont, we craft the future. Our unique portfolio includes prestigious Maisons distinguished by their craftsmanship and creativity. Richemont's ambition is to nurture its Maisons and businesses and enable them to grow and prosper in a responsible, sustainable manner over the long term.
Richemont operates in three business areas: Jewellery Maisons with Buccellati, Cartier, Van Cleef & Arpels and Vhernier; Specialist Watchmakers with A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis and Vacheron Constantin; and Other, primarily Fashion & Accessories Maisons with Alaïa, Chloé, Delvaux, dunhill, Gianvito Rossi, Montblanc, Peter Millar including G/FORE, Purdey, Serapian as well as Watchfinder & Co. In addition, Richemont operates NET-A-PORTER, MR PORTER, THE OUTNET, YOOX and the OFS division.
Compagnie Financière Richemont SA published this content on November 29, 2024, and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on November 29, 2024 at 08:01:05.666.
Compagnie Financière Richemont SA is a world leader in luxury products. Net sales break down by family of products as follows:
- jewelry items (69.1%): the brands Cartier (world No. 1 in jewelry), Van Cleef & Arpels, and Giampiero Bodino;
- luxury watches (18.3%): Piaget, A. Lange & Söhne, Jaeger-LeCoultre, Vacheron Constantin, Officine Panerai, IWC Schaffhausen, Baume & Mercier and Roger Dubuis brands;
- other (12.6%): primarily pens, fine leather goods articles and clothing under the following brands: Montblanc, Chloé, Old England, Purdey, and Alfred Dunhill.
Net sales break down by activity between retail distribution (69%), wholesale distribution (25.1%) and online distribution (5.9%).
Net sales are distributed geographically as follows: Switzerland (3.1%), United Kingdom (3.7%), Europe (14.8%), China (26.1%), Japan (8.5%), Asia (13.8%), the United States (18.9%), Americas (3.1%), Middle East and Africa (8%).
COMPAGNIE FINANCIERE RICHEMONT 
