Richemont And Ralph Lauren Joint Venture Formed
The luxury group Richemont, based in Geneva, and the American group Polo Ralph Lauren have decided to set up a joint venture. The jointly-owned company will design luxury watches and fine jewellery which it is hoped will be launched on the market in the autumn of 2008.
The Polo Ralph Lauren Watch and Jewellery Company will develop, produce and distribute its designs through Ralph Lauren stores, but also via specialist luxury retailers. Each partner will own 50% of the joint venture and is committed on a long-term basis. It is the first time that Richemont has formed a joint venture with a fashion designer and the first time that Ralph Lauren has ventured into the world of watches and jewellery.
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