Richemont sells luxury leather bagmaker Lancel to Piquadro
04/06/2018 06:40
ZURICH, June 4 (Reuters) - Richemont CFR.S has completed
the sale of its French leather bag maker Lancel to Italian
leather goods company Piquadro PQ.MI , the luxury goods maker
said on Monday.
Richemont, the owner of Cartier jewellery as well as watch
brands including Piaget and IWC, said the deal would have no
material impact on its balance sheet, cash flow or results for
year ending 31 March 2019.
Terms of the deal for Lancel, which has struggled in recent
years, were not disclosed.
(Reporting by John Revill, editing by John Miller)
((John.Revill@thomsonreuters.com; +41 58306 7022; Reuters
Messaging: john.revill.thomsonreuters.com@reuters.net))