After a few manufacturing partnerships in the past, transfer of ownership has been achieved. Swiss Richemont, the luxury giant mostly up to watchmaking, jewelry and fashion accessories, has bought out 100% of Serapian, the historic Milanese leather goods company, into whose hands they had put, over the last years, the making of some product lines of Cartier and Dunhill brands. As reported by MFFashion, the Milanese company, founded in 1945 by Serapian family, will still act as a supplier for other fashion brands; they might also become a benchmark for Richemont with regard to leather watchbands manufacturing for the group’s watchmaking stores. Meanwhile Richemont hands out their financial statement records for 2017 first half, closed on last September 30: turnover goes up, +10%, as incomes amount to 5,6 billion euros and profits increase by 80% on annual basis, thus going beyond 974 million euros.
Richemont buys out Serapian. Historic Milanese leather goods company turns Swiss
