The YNAP buy lit a rocket under Richemont sales last year, but it dented profitability. Yet the group remains strong with jewellery and watches buoyant while Chloé and Dunhill have seen good reactions to new products.
One of the abiding mysteries in luxury is the far greater ability of Paris brands to outperform their venerable, respected and often very classy London rivals. Dunhill may be about to become a significant exception.
Swiss group Richemont, owner of the Cartier, Piaget and Chloé brands, among others, and the third largest luxury group in the world, has reworked the management of its watch brands Jaeger-LeCoultre and Baume & Mercier.
Luxury goods group Richemont on Friday appointed Jérôme Lambert, currently head of operations, to the newly created role of chief operating officer responsible for the Swiss group's watch and fashion brands.