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By
DPA
Translated by
Barbara Santamaria
Published
Nov 13, 2017
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Richemont ups stake in travel retailer Dufry to over 7%

By
DPA
Translated by
Barbara Santamaria
Published
Nov 13, 2017

Luxury group Richemont has strengthened its ties with travel retailer Dufry. The luxury giant has upped its stake in Dufry to 7.5%, Richemont CFO Burkhard Grund announced on Friday in a conference call.


Richemont ups stake in travel retailer Dufry - Van Cleef & Arpels


Richemont first invested in Dufry, the world’s largest travel retailer, in May when it announced it had acquired a 5% stake. The company made the purchase through its UK-based subsidiary Richemont Luxury Group Limited, which is located in Jersey. In September, Richemont chairman Johan Rupert commented on decision at the annual general meeting, speaking about Dufry as a “strategic investment”.

Richemont owns several luxury brands with major interests in Chloé, Alaïa, Alfred Dunhill, Lancel, Shanghai Tang, Montblanc, Baume & Mercier, Cartier, Piaget and Vacheron Constantin.

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